The ageing workforce is currently a hot topic in local government. One component of this relates to the potential for workers to phase into retirement, an approach that holds appeal for both the worker and the employer, but which requires careful consideration and planning.
Without doubt, raising the prospect of retirement can be delicate. The conversation needs to be approached with considerable care and sensitivity. Retirement plans will touch on many aspects, including both personal and work life, and need to be highly individualised.
Late in 2017, LGIS ran two interactive online workshops with a small group of pre-retirees and managers from local government to help support and prepare them for effective personal and workplace planning.
The workshops highlighted that often the financial implications of retirement for individuals are focussed on, whereas personal retirement planning needs to cover other interconnected life priorities including health, home, work, leisure, and family. While this can seem overwhelming, there are ways in which workers can undertake their preparation in a staged process with many resources available.
The workplace can assist in preparing workers for some of the major transitions involved. It is also in the workplace’s interest to be aware of its demographic profile, including the workers’ retirement intentions and preferences to ensure it is not adversely affected by loss of knowledge and talent.
Through the pilot workshops, additional research and interactions with members, LGIS is developing greater understanding around the needs, issues and implications of an ageing workforce and of career transition.
LGIS works together with you to best manage the many strategic and practical aspects of these challenges, and to ensure a balanced approach to understanding and managing the risks while maintaining the wellbeing and optimising the contribution of older workers and others facing job uncertainty and workplace change.