PHASED RETIREMENT PROGRAMS RARE AMONG COMPANIES

Does your company have a phased retirement program? Have they even thought about it? Probably not, according to the latest i4cp research.

Phased retirement programs allow employees who are approaching retirement to continue working with a reduced workload through one of many ways, such as part-time, seasonal or temporary work or extended leaves of absence, but typically involve older employees gradually reducing his or her hours over time. Phased retirement is one possible way to "stem baby boomer brain drain."

However, 77% of responding companies say they do not have a phased retirement program in place, and 68% say they don't have initiatives to retain retiring employees. Many companies haven't even addressed the issue.

This lack of support for phased retirement programs may come from the fact that only 2 in 10 say they feel such programs are successful to a high extent. Still, two-thirds say phased retirement programs are moderately successful. Read more on the recently released phased retirement research.