Future of WNC Workforce - Must Include Older Workers

Infographic by Web Tech Czar, data from Market Watch

According to 19th Annual Transamerica Retirement Survey, published in October:

• Employers know that workers expect to work beyond age 65. Sixty-nine percent of employers agree with the statement, “Many employees at my company expect to work past age 65 or do not plan to retire,” and they are correct. Indeed, many workers expect to retire after age 65 or do not plan to retire (53%).

• Eighty-five percent of employers agree with the statement, “My company is supportive of its employees working past 65,” including 46% that “strongly agree” and 39% that “somewhat agree.” However, only 77% of workers agree that their employer is supportive.

• Forty-three percent of workers are envisioning a phased transition by reducing work hours (27%) or working in a different capacity that is less demanding and/or brings greater personal satisfaction (16%). Twenty-two percent envision they will continue working as long as possible until they cannot work anymore. Only one in five workers (22%) plan to immediately stop working and fully retire.

• Yet, only 38% of employers offer flexible work schedules. Even fewer enable employees to shift from full-time to part-time (30%) or take on jobs that are less stressful or demanding (21%).