Is Semi-Retirement the Right Fit for You?

By Julie Neal, Corporate Communications and PR Specialist for Express Employment Professionals International Headquarters

As more and more baby boomers reach retirement age every day, companies are scrambling to find their replacements in a historically difficult labor market.

The “Greatest Generation” is ready to spend more time with their families, sightsee around the world, and pass the baton onto the next generation. But what if these valuable employees could have the best of both worlds with flexible work schedules and other benefits so employers aren’t left in a lurch?

The answer could be semi-retirement.

According to a recent survey from The Harris Poll, commissioned by Express Employment Professionals, the majority of employees say they’d like to participate semi-retirement, either by having a flexible work schedule (79%), transitioning to a consulting role (66%),  or working reduced hours with reduced benefits (59%).

However, only around 1 in 5 (21%) say their employer offers semi-retirement.

“Our workforce is losing a big generation that has workforce skills and talents we will be short of in the workplace,” said Nancy Reed who owns several Express franchise locations in Texas. “It would be ideal for those not quite ready to retire to serve as mentors, trainees, and expert consultants who can be brought in as part-time or semi-retirement.”

Semi-retirement can also be beneficial to help alleviate the skills gap.

“Companies have the workforce that has the motivation but lacks the skill,” Nancy added. “They are bringing baby boomers back to serve as consultants or trainees to fill the gap of knowledge in the current workforce. Even in construction, you see journeyman electricians, HVAC technicians, and drywall installers helping to train recent grads and only working part-time on special projects.”

If you are looking for a more flexible arrangement before clocking out of the workforce, it might be worth proposing a semi-retirement arrangement to your leadership! Present a persuasive argument of how you can help ensure your successors are prepared for when it’s time for you to retire.

Would you be interested in a semi-retirement arrangement? Let us know in the comments section below!

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