Companies are in various stages of being ready for an aging workforce. For example, only 9% offer formal programs for phased retirement, even though flexible work options are plentiful for other life stages. In this conversation on our retirement planning podcast, Joe talks with Paul Rupert, CEO of Respectful Exits about trends in the workplace for seasoned workers. Paul offers his views on what smart companies can do to attract and retain talented older workers. Paul also shares valuable advice on how individuals can approach negotiating phased retirement as part of flexible work options and tells us the story behind his new advocacy organization.
Paul Rupert is Chief Executive Officer of Respectful Exits. Paul has forty-five years of nonprofit management and consulting experience. He founded and managed innovative nonprofits in healthcare, legal services, mediation, publishing and advocacy campaigns. He played a pivotal role in promoting the practice of flexible scheduling and staffing throughout the economy. His firm Rupert Organizational Design has consulted to more than a hundred companies implementing creative flexible staffing and scheduling initiatives. His firm currently leads in the development of flexible and phased retirement programs.
On How Companies Can Help Employees Prepare for Retirement
“…begin to get rid of that notion of people having reached their ‘Sell-By Date’. A lot of companies are moving in that direction. I think there are organizations that are beginning to recognize the need for ongoing financial wellness counseling. We promote very strongly the idea, that companies, primarily in the private sector, got rid of defined benefit pension plans. They have sufficient resources to provide ongoing, what we call financial wellness counseling to their employees. We call on employers to do that. There are examples of employers who essentially provide for annual financial checkups for this, on company time, and on the company dime. It’s a very modest investment and it makes an enormous difference, because as you probably well know, the failure to understand early in your career, the need to save, and to take responsibility for your own 401K, et cetera, is terribly important. Companies have a captive audience to whom they can, in an affordable way, provide that invaluable service. I was talking to a client the other day and they said, “We have a program in which we require our employees to have an annual automobile safety check, and we pay for it.” I said, “Well, do you do that with finances?” They said, “Well no, not really.” I said, “Well, you should.”
On Making An Effective Proposal for Phased Retirement
For more on Paul Rupert:
GAO Report to the Special Committee on Aging, U.S. Senate:
Stay around for the Noteworthy segment on an article worth your time
This week’s selection is The Big Changes Ahead for Boomer Workers
by Richard Eisenberg – Next Avenue
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