Reports and Surveys | November 14, 2017
As business leaders plan for the future, acquiring and retaining exceptional talent should be a top priority. Understanding where potential workforce vulnerabilities exist now or may exist in the future allows leaders to make more informed decisions about succession planning, restructuring and other issues.
One key question that many organizations need to answer is where their employees stand with regard to retirement. Are late-career employees having to work longer than they want?
Are any younger retirement-eligible employees preparing for a sudden exit? There are numerous reasons why employees today are commonly working to older ages than in the past: people are living longer, they are healthier, and advances in technology have eliminated many barriers to continued employment.
However, organizations that understand their employees’ retirement situations are better equipped to predict and address problems that could alter the natural progression of the workforce. One such problem could be a potentially less-productive portion of the workforce made up of employees who would like to retire but who are not yet financially prepared to do so. Another problem could be skill gaps that occur if employees retire earlier than expected.
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