For generations the expectation of retirement age has been one of the ‘givens’ of UK social welfare policy. But the increasing life expectancy of older people in the UK and other western countries combined with other social changes has led to a situation where policy makers have felt that a change was unavoidable.
Enforced retirement at 60 years for women and 65 years for men has been phased out and most people can now decide how long they want to continue working for and the age they want to retire.
The age at which people choose to retire is driven by many factors. Of course, finance is a major deciding factor for many people, but retirement is increasingly becoming a transitional period where changes in personal priorities lead to changes in employment patterns rather than an end to employment. Your employees will all differ in their reasons for wanting to retire or stay on. Sometimes no matter how much planning has been going on in their lives, issues arise that can sometimes be eased financially by remaining at work for just that little bit longer. Occasionally that ‘little bit longer’ can become an indefinite period as the ever-changing economy takes it effect on people’s lives and finances.
As the manager of people due to retire or continue, it is possible you may know something of the motivation for their preference, whether it involves supporting children, parents or just the need to continue working to finish off paying the mortgage / debts or saving sufficient funds for the holiday of a lifetime or a move to a dream retirement home in this country or abroad.
If someone has decided to retire they will undoubtedly have mixed emotions ranging from – sadness to delight and anything else in between. Sadness at leaving colleagues and the workplace but delight in a new-found freedom and the chance to spend more time on their own projects or moving in a different direction work wise or socially. Others of course may not have thought too deeply about retirement and will ‘just see how things go’ – everyone is different.
The retirement date has probably been eagerly awaited and you will have known about this for some time. It is important for the employee and his/her colleagues that their contributions are recognised, and the person leaves your business feeling valued and respected. In some cases, colleagues will have held collections or want to give them a ‘send-off’.
As the manager you may be invited to say farewell on behalf of the office/business and make a formal presentation of gifts or collections – this will be easier if you have known the employee for some time, if not it may be best to find out a little background about the employee. This may ensure that he or she feels recognised for the time spent with your company and not just the time they have worked for you.
The thing to remember is that not everyone is the same; some people may prefer a low key ‘send-off’ and possibly a one to one chat in the office may be the order of the day with individual goodbyes from colleagues later rather than a gathering. Whichever course is taken, making it personal for the employee will be most likely to leave them with a ‘good feeling’ about their time within the company.
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