Jack Ma is the talk of the town, with some people postulating that his decision to retire as CEO of the Alibaba group at the age of 48 is an indication that 50 is the new 65. Surprisingly, they seem to be missing the small additional detail that Jack Ma is an extremely wealthy man who can choose to retire or take less stressful roles. For most others, the reality is far less exciting. Recent economic conditions have increased the cost of living while reducing the ability to save for retirement. The result – retired people are returning to work – with enthusiastic employers welcoming them back as employees or independent contractors to provide specialized and expert services.
If a worker wishes to assume a fully active role (or even a partial one) – what would be better than returning to one’s former employer? Both parties know that there is a cultural fit and the retiree can contribute from day one. However, there are factors to consider so that neither the retiree nor employer is penalized for not complying with employment regulations.
Some strategies, to help in attracting workers back to the fold:
Even with senior workers, it would be necessary to have an on-boarding process in place. All employees, regardless of age, should be subjected to a rigorous review of background checks and substance abuse testing.. Onboarding may also require special accommodations to create a productive work environment for the retiree. Remember, retirees can provide a level of stability not found with other workers seeking opportunities for career advancement. In fact, numerous studies show that the unplanned attrition rate of returning retirees is significantly lower than for the worker population at large. A planned approach to bringing retirees back into the fold can yield great benefits.
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