Research has shown that work satisfaction is most important in deciding how long people wish to continue working. A research study was conducted on 2,400 members of the HK union in Denmark. Nine out of ten members said that it was most important to develop socially and professionally.
Older employees said that wellbeing on the job was the most important factor as well as feeling that they are appreciated. People must feel that they are needed and that both management and colleagues feel that they are appreciated. This is a key factor in retaining older employees. If an employer tells an employee that he/she and his/her skill is indispensable in the workplace, it is almost a rule that the employee will continue. Research has indicated that 41% of those who have retired would have postponed their retirement if they had felt better in the workplace.
The wellbeing in the workplace is not only a question of the connection between management and co-workers. Stress in the workplace as well as the feeling of following younger co-workers has also a great effect. This happens sometimes when a new boss arrives, and the employee must change his or her working methods completely. In such cases the employee, who often has worked in the same manner for a long time, feels that he or she no longer can influence the work and elects to retire. The employee would thus leave unsatisfied and feel badly about it. This is often unavoidable since the work environment changes with modern technology and new work procedures replace older ones. It is nevertheless evident that great opportunities are created if managers realise that they can benefit from creating scope for older workers in the workplace.
There is great value in older workers. They are loyal and have developed great skills and experience. They have good knowledge of the workplace culture that they can pass on to younger workers, which is important for balance in the workplace.
It must be borne in mind that there must be mutual respect between older and younger workers and that both groups have something equally important to contribute. The factors that can make it easier for older workers to continue working can consist of shorter hours, extra days off or some other special perks. More than half of those who participated in the survey considered it important or very important to adjust to retirement from the workplace.