Retirement Pathways
Many experienced employees want to transition out of their full-time positions and control the process of retirement. Creating pathways to retirement, such as phased retirement and bridge jobs, can help you keep skilled experienced employees from leaving your organization. The employees can benefit through continued income, ability to continue saving for retirement, ongoing professional development, and arrangements that allow them to manage their work-life balance. Effective planning can help you determine if you are facing a labor shortage or a skill shortage, and how your organization can respond.
Assess Retirement Pathways at Your Company
Take a Self-AssessmentAction Steps
33. Provide written materials about different retirement pathway options including pay, benefits and evaluation.
Example: Create a formalized option for a flexible pathway to retirement.
Resource: Phased Retirement Supervisor Guide
Resource: Pathway to Retirement Agreement Example
34. Offer a pathway for retired employees to return to work.
Example: Use this template as guide for ‘retire-rehire’ and salary guidelines for experienced employees.
35. Establish different roles to recruit experienced employees who may be looking for seasonal, part time or bridge work.
Example: Become a host organization through the Encore Fellowships Network.
Resource: How to Hire Seasonal employees
36. Development relationships with third party organizations that can support your efforts to offer options to experienced employees as well as recruit experienced employees who may be looking for seasonal, part time or bridge work.
Example: Become a host organization through the Encore Fellowships Network.
Resource: Sign up to host a fellow through Encore