A greater percentage of those over 55 are working today than a year ago. In part, because older workers are prized for their corporate experience, personal relationships and stability. "Any time you have an early retirement program and have to make it widely available, you chance losing key talent," says Craig Reynolds, corporate director of employee benefits at Briggs & Stratton, the world's largest producer of 3 to 25 horsepower air-cooled gasoline engines.
Eight in ten of Baby Boomers (the cohort of Americans born between 1946 and 1964) say they plan to work at least part-time--and others envision starting their own business or working full-time at a new job or career--according to an AARP Segmentation Analysis: Baby Boomers Envision Their Retirement .
This "phased retirement " of Baby Boomers will shape the American workplace and compensate for a severe talent gap due to a shrinking supply of new workforce entrants. Phased retirement allows Baby Boomers to devote more free time to community service/volunteer activities and their grandparent role by living near at least one of their children.
Since mid-2000, Briggs & Stratton has been bringing back retirees for temporary duties via reEmploy.com. reEmploy.com hires the former workers and then assigns them to selected projects at Briggs & Stratton to insure key jobs remain staffed---while former employees are able to continue working without jeopardizing their pensions.
For more information on Baby Boomer retirement, go to: http://home.att.net/~coachthee/whats_new/index.html
John G. Agno is a certified executive & business coach and president of Signature, Inc, an Ann Arbor, MI based leadership development firm.