Shorter work week ideal for older workers
By Mario Cywinski | April 19, 2008
Working nine to five everyday to make a living won't cut it if your hope is to hire workers who are 55 years of age and older.
The ideal work week is much shorter than the norm, according to a study by RBC. Older workers would ideally like to work from nine to noon, Tuesday to Thursday.
"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," said Christianne Paris, vice-president, Recruitment and Learning, RBC.
Other factors are also at the top of the list for many seniors when deciding where and if they want to continue to be in the workforce. Of those who responded to the survey, the top answers were:
- Having an extended health care benefits (60 per cent);
- Being able to work flexible hours (47 per cent);
- Having a guaranteed wage/salary (34 per cent);
- Being able to phasing in the retirement process (24 per cent).
In turn, it is interesting to note that while 22 per cent of respondents would like to phase in their retirement, 26 per cent want to continue to work on a contract basis and what may surprise many is that 36 per cent want to continue to work full-time and later switch to part-time work.
A major reason for many older workers wanting to stay in the work force is that they do not have enough money saved and simply need the money, as 49 per cent of respondents said.
The other main factors involved are: wanting to stay sharp mentally (42 per cent), being sociable (24 per cent) and just not wanting to leave their current job (21 per cent).
"According to Statscan, just over two million Canadians age 55 to 64 were employed in 2006, 43 per cent more than in 2001," said Paris.
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