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COMPANIES ARE NOW REDEFINING RETIREMENT BEYOND 65

Career Career Development
September 17, 2023June 15, 2024

Retirement is transforming. Traditional notions of winding down at 65 give way
to a new paradigm where individuals continue to contribute their skills and
experience well past the conventional retirement age.

As people live longer, healthier lives, companies recognize the value of
retaining experienced workers who don’t want to stop at 65. In a quest to tap
into the immense pool of wisdom and experience, several companies are taking an
age-positive approach. It involves recognizing that older workers’ unique
perspectives contribute to a diverse and dynamic workforce.

Google, for instance, has implemented a “Greyglers” program, which allows
retirees to return part-time, contributing their expertise while mentoring
younger employees. This approach significantly enables intergenerational
knowledge transfer. Additionally, it fosters an inclusive work environment that
celebrates the contributions of individuals of all ages.

Companies like Amazon are redefining retirement by offering flexible work
arrangements and opportunities for continuous skill development. Amazon’s
“Pivot” program assists employees in transitioning to new roles that align with
their interests and strengths, breaking down the traditional barriers of
age-related career limitations.

By fostering an environment where individuals can continually learn and adapt,
Amazon encourages employees to explore new horizons well into their senior
years. Some companies are capitalizing on the entrepreneurial spirit of older
individuals who don’t want to stop working.

IBM’s “Entrepreneurial Program” supports retirees in launching their businesses,
leveraging their expertise to create innovative solutions. This initiative
empowers retirees to stay active in their professional pursuits and contributes
to economic growth by nurturing a culture of innovation and entrepreneurship.

Companies are recognizing the desire among retirees to remain socially connected
and make meaningful contributions to society. Deloitte’s “Return to Work”
initiative connects retired professionals with nonprofit organizations seeking
their expertise. This model vitally helps retirees remain engaged in their
field. It also creates a positive social impact by channeling their skills
toward causes they are passionate about.

For business leaders inspired by these innovative approaches to redefining
retirement, here are some steps you can consider taking.


EMBRACE DIVERSITY:

Recognizing the value of intergenerational diversity is the first step toward
creating a workplace that thrives on varied perspectives and experiences. Ensure
to promote an inclusive company culture that values individuals’ contributions
regardless of age. Encourage open communication and collaboration among team
members of different generations.


PROMOTE FLEXIBILITY:

Flexibility is critical to supporting employees who want to continue working
past the traditional retirement age. Allow employees to choose their work hours
based on their commitments and personal preferences. This can help older workers
strike a balance between work and personal life.


INVEST IN SKILL DEVELOPMENT:

Continuous learning and skill development are essential for employees of all
ages to stay relevant in a rapidly evolving business landscape. Develop training
programs that focus on acquiring new skills and knowledge. Encourage employees
to diversify their skill sets by participating in cross-training initiatives.


CULTIVATE ENTREPRENEURSHIP:

For entrepreneurial ventures or startup culture, fostering an environment that
supports the spirit is vital. Establish programs that provide resources and
mentorship for employees interested in starting their businesses. This can range
from providing office space to connecting them with experienced entrepreneurs.


CREATE MEANINGFUL CONNECTIONS:

Many retirees are drawn to opportunities that allow them to give back and
positively impact society. Partner with local nonprofits or community
organizations to provide employees with opportunities to volunteer their skills
and expertise.

By embracing age-positive approaches, we can foster a culture of celebrating
dynamic careers and working past the conventional retirement years. You can
engage with us by joining our forum. Register to join our movement of purposeful
living today.




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