The role of employers in retaining older workers

Abstract

Background: Previous research into the retirement experience tends to focus on the individual experience. This study looks at the role of work and retirement on subjective wellbeing and how corporations must change to engage workers for longer if they themselves are to remain sustainable. Objectives: The objective of the study was to ascertain the need for creative solutions for older employer engagement. Method: Using mixed methods Internet-based research methodology, 317 people were recruited with an online survey. Thematic content analysis was utilised to explore trends that emerged from the qualitative analysis. Findings: The principle finding was that, employers need to rethink how they engage the older worker to ensure that their workforce remains stable. Discussion: Low levels of life satisfaction were linked with being dissatisfied at work. Being at work also decreased the likelihood of social interaction. In contrast retirement offered freedom from the constraints of work. Employers need to adopt suggested solutions around flexibility, offering choices and a differentiation of the meaning of the “working day” to this cohort if they are to be successful in retaining older workers in employment. Conclusion: The results are significant because governments, both local and federal, are encouraging an ageing workforce to remain in work longer. However employers need to consider how they can create greater autonomy for older people in the workplace to encourage them to want to work longer.