Work/Life Balance

Survey reveals Canadians who are 55 years of age and older would prefer to work Tuesday through Thursday from 9 to noon

Workin' 9 to noon: 3 days a week

If companies are looking to retain older workers, they are going to have to offer perks such as shorter work weeks and flexible hours, according to a workplace survey from RBC. And it appears that, of those surveyed, employed Canadians who are 55 years of age and older would prefer to work Tuesday through Thursday and work mainly in the morning from 9 to noon.

SUN MEDIA WIRE SERVICES


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"MORE FLEXIBILITY"


"With unemployment levels at an all time low, good employees are harder to find. Older workers are becoming an integral part of the Canadian workforce and employers need to look at ways of retaining and attracting them," says Christianne Paris, vice-president, Recruitment and Learning, RBC.

"Employers may have to alter the work environment or their recruitment profiles to suit older workers who are looking for more flexibility in their lives as they either transition into retirement or look to come back into the workforce."


Conducted by Ipsos Reid and titled The Competition for Canadian Talent, the RBC survey found there are several key factors that employers need to keep in mind to attract and retain older employees.

Extended health care benefits (60%) is the top factor, followed by flexible work hours (47%), having a guaranteed wage/salary (34%) and phasing in the retirement process (24%).

In addition, employed Canadians age 55 and older also would like to have 6.4 weeks of vacation a year.

The survey also found that even though four in 10 Canadians still plan to take full retirement when eligible, many older employees have changed their attitude toward retirement. While 22% would like to phase retirement in gradually, more than a quarter (26%) would like to retire and work on a contractual basis.

However, 36% of those 55 and older are only looking to work full-time for a few years and then want to scale back to part-time hours or retire fully, while 38% would prefer to work part-time for their current employer as they transition into retirement.

Two-thirds of employed Canadians 55 and older would prefer to stay with their current employer and change jobs, rather than work for another company.

The survey also revealed that older workers still feel a strong sense of loyalty to their existing employers, as more than a quarter of those surveyed would continue to work full-time as long as they could with their current employer.

On average, older employed Canadians are looking to work with their current employer for 3.5 more years past their retirement date.

In looking at some possible reasons why older workers would delay retirement, almost half (49%) believe that they need the money and don't have enough saved to retire, while 42% want to stay mentally challenged and active. Almost one quarter (24 %) enjoy the social part of working, while 21% love their job and don't want to retire.

"According to Statscan, just over two million Canadians age 55 to 64 were employed in 2006, 43% more than in 2001," Paris says. "With more older workers postponing retirement, the new multi-generational workforce presents both challenges and opportunities that employers will need to address."



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