For some months I have been using the term ‘age management’ to describe a new discipline creeping into human resources strategies.
Now that staff can work for as long as they want to (or have to), HR professionals are taking stock of their workforce planning strategies, their wellbeing initiatives and how they keep training and developing employees throughout their ever-longer careers.
Age management is getting a boost in the arm from government with the new flexible retirement options coming into play next April.
How employees approach retirement and the choices they make can well have an impact on employers. The days of staff retiring and walking out of an organisation’s door forever is over.
The number of those that opt to use the flexible retirement options to keep working while getting some access to their retirement cash is going to grow.
Savvy employers will be looking at this closely to ensure their organisation’s working policies will fit into the new flexible retirement options.
They will also be keen to ensure staff get good financial guidance and advice to make the best choices. Otherwise, it will be the employer which will be picking up the pieces if it all goes wrong.