State:
Free Special Resources
Get Your FREE Special Report. Download Any One Of These FREE Special Resources, Instantly!
Featured Special Report
Claim Your Free Cost Per Hire Calculator
This handy calculator lets you plug in your expenses for recruiting, benefits, salaries, and more.

Graphs automatically generate to show you your annual cost per hire and a breakdown of where you are spending the most money.

Download Now!
August 20, 2008
5 Most Effective Ways to Coax Employees from Retiring
A recent survey by the Employee Benefit Research Institute (EBRI) revealed the most effective ways that employers can incentivize older workers to put off retirement--by asking these workers what would make them stay.

The survey, conducted among 4,891 workers between the ages of 55 and 65, asked what opportunities would be most effective in persuading them to delay retirement. EBRI had the workers rank their top three incentives employers could provide that would be the most effective.

Here are the five incentives that were most often cited in respondents' "top three," followed by the percentages of those who deemed each opportunity as the "most effective."

  • Feeling truly needed for an assignment (29% said it was in their top three ; 12% said it was the most effective incentive)
  • Receiving a full pension while working part time (24%; 9%),
  • A pay increase (22%; 7%)).
  • Continuing company-subsidized health insurance at the same level as full-time workers (21%; 5%).
  • Receiving a partial pension while working part time (21%; 6%).

No other incentives were ranked among the top three by 20 percent or more of respondents. Notably less effective opportunities included a one-time cash bonus (10% in top three; 2% most effective); receiving additional paid time off each year (8%; 1%), and being able to take a paid sabbatical (6%; 2%).

For a Limited Time receive a FREE Compensation Market Analysis Report! Find out how much you should be paying to attract and retain the best applicants and employees, with customized information for your industry, location, and job. Get Your Report Now!
Featured Free Resource:
Cost Per Hire Calculator
   
   
 
 
Twitter  Facebook  Linked In
Follow Us
CT-WEB06
Copyright © 2016 Business & Legal Resources. All rights reserved. 800-727-5257
This document was published on http://Compensation.BLR.com
Document URL: http://compensation.blr.com/Compensation-news/Benefits-Leave/Employee-Benefits/5-Most-Effective-Ways-to-Coax-Employees-from-Retir/