How to help your senior employees prepare for retirement


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Retirement is intended to be the reward for many years of hard work and contribution, allowing a person to slow down and enjoy life at a slower pace. But in order for this to come true there are many factors to consider and prepare for.

Although retirement is seen as the goal after a long working career, many people do not prepare for it. The thought of retirement is viewed as something to consider at some future date, and so it gets pushed out to make space for something more urgent.

When the thought of retirement can no longer be ignored, it often brings about a flurry of activities and stressful knee-jerk planning. This results in many people then being forced to face the negative consequences of having postponed decisions and preparations that could have been done at a better pace and with more options.

The financial impact of retirement has been well documented elsewhere, along with the frightening statistics that highlight how few of us can actually retire financially independent. But there are many other aspects to consider than the financial part.

Retirement brings with it some major adjustments on an emotional and psychological level. These adjustments are often not considered at all, leaving the retiree to face them alone and making up their own survival mechanisms as they go along. This could lead to severe psychological problems, depression and general dysfunction.

Making it easier


As a caring employer who values the contribution that a long serving employee has rendered, you have an opportunity to assist in making this transition easier. This can be done by implementing a Retirement Preparation program in your organisation. Such a program will assist your employee to move into retirement in a well balanced and joyful manner, and at the same time ensure an optimal contribution to the company during the transition period.

A Retirement Preparation program should be structured to cover the different aspects of retirement, such as:

 
  • Emotional and psychological preparation
  • Financial preparation
  • Getting affairs in order
  • Relationship and role transition
  • Individual counselling

The program should run over a period of several years prior to the planned retirement, so that the proper planning and adjustment can be done at a reasonable timeframe.

 

Leaving your long serving employees to deal with the stresses of retirement on their own can be addressed by implementing a Retirement Preparation program. Click the button below for more information on how to set such a program up.

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