Should I be Re-Engaging My Retired Workforce?
In the last two years, the Great Resignation, Great Reshuffle, and Quiet Quitting have been popular buzzwords for employers. But is another trend coming down the pike? What is The Great Un-Retirement? With a potential recession on the horizon, some retirees are considering a return to work. Here are some things you should know about re-engaging your retired workforce.
Concerns over Rising Costs
One of the most significant driving factors for retired employees looking to return to the workplace is the concern over rising costs. Inflation creating increased costs of goods and services means retirement spending may not stretch as far as it did even a few years ago. Housing costs and other factors are also a concern, which means retired individuals are considering returning to work.
Addressing Staffing Shortages
The last two years have seen the fallout from the pandemic and the resulting Great Resignation. There are still more open jobs than workers to fill them, and that has led to more flexible hiring standards that companies would perfect. Your retired workforce considering a return to the job market can be an excellent resource for addressing your staffing shortages. Be sure to maintain contact with former employees, so the door is open when they're making that decision.
Benefits for Older Workers
If you engage with workers considering unretirement, there must be something for them. Older workers are looking for different benefits than their younger counterparts. Benefits include:
-
Flexible or part-time work
-
In-office work for increased interpersonal communications
-
Flexible spending accounts and health savings accounts
Increased Flexibility
Along with other benefits for older workers, your unretired workforce will need additional flexibility in the workplace. They will have different personal needs than younger workers. It's unrealistic to expect that retired workers returning to the workforce can pick up where they left off. Increased flexibility for time off, appointments, or other schedule changes will be necessary to keep them engaged.
If you need help finding your missing piece this year, get in touch with our team at Frontline Source Group!
Tagged Blog
Published on Mar 27, 2023