(b)Mused: The Circle of Life
July 1, 2011 (PLANSPOSNOR (b)lines) – In a conversation this week with Ed Moslander, Senior Managing Director, Institutional Sales & Service, TIAA-CREF, he mentioned the “problem” some non-profits and higher education institutions have with “retirement reluctance.”
Ed explained that employees in these markets want to continue working because they love their jobs, which have become a big part of their personal identity. Also this week, a survey from First Command found many employees are delaying retirement, not for financial reasons, but because they want to stay busy (see Staying Busy Trumps Financial Reasons for Postponing Retirement).
I have never thought of this as a problem. For one thing, while I too can say I love my job, my visions of RVing across the country while I am still spry enough to enjoy it trumps that love. Also, I prefer to hang on to the belief that the loss of my contributions to the company would devastate my employer with a void that could never be filled.
However, Moslander said organizations need turnover to refresh themselves, and I realized it’s part of the circle of life.
And then, a copy of an article sent to me by Financial Finesse explained how employees not retiring costs companies money, as older employees typically have higher salaries than new workers and are likely to have higher health care costs as well.
Perhaps… my employer will be as excited about my RVing as I am.« Typical Measurements not Only Gauge of Transition Management Success