WORK & RETIREMENT WORK = income, standard of living plus meaning, status, stimulation, outlet for knowledge/creativity ‘ a search for daily meaning as well as daily bread, for recognition as well as cash, for astonishment rather than torpor; in short, for a sort of life rather than a Monday through Friday sort of dying.’ (Terkel, 1974)
Ageism in the Workplace failing to hire/discharging an older worker early retirement incentives no retraining/development halting salary increases demoralization tactics overlooked for promotions first to be fired older workers forced into lower wages/salary
Work Performance & Age chronological age poor predictor ! Salthouse & Maurer (1996) Framework negative relationships btwn age and ability expected to lead to low performance are mediated by greater knowledge experience = knowledge = performance stable/increased crystallized intelligence old rely on prior knowledge young must develop new solutions to problems encountered
Job Performance Career Development System Factors Knowledge Skills Abilities Other Age
old adopt coping strategies retraining works greater job satisfaction loyal, less absenteeism, fewer accidents increase performance & value of older worker ?? Consequences devalued negative self-image lose interest, motivation Work Performance & Age cont’d...
Mentoring (1) improve protégé’s chances for advancement (2) promote protégé’s psychological well-being mentoring = fulfillment, teaching, passing on knowledge Kram (1985): 4 Stage Sequence (1) Initiation: selection, development of protégé (2) Cultivation: teaching, development (3) Separation: protégé moves one (4) Redefinition: protégé becomes peer
RETIREMENT History (& Future?) of Retirement Policy 19th century - agrarian, work until death turn of century - 70% males 65+ working 20th century - Industrial Revolution need to workers universal pensions Old Age Security Benefits: (1) Income Security (2) Retirement Pension
Retirement Policy cont’d... Pension systems established when: inflation and fertility rate predictable assumed retirement at age 65 project income needed to provide payments BUT fertility rates in baby boomers people live longer dependency high unemployment contributions early retirement contributions inflation payments
Decision to Retire? 1960s - “chronological guillotine” early retirement = 2 central issues health & money also attitude, satisfaction, interests psychologically, choice is important forced retirement (graceful way to retire?) vs. competency-based retirement places w/ forced retirement - patterns much the same as w/ forced retirement solution: flexible or gradual retirement?
Phases of Retirement (Atchley, 1985) (1) Remote (2) Near (3) Honeymoon (4) Disenchantment (5) Reorientation (6) Stability (7) Termination
Worker-to-Retiree Styles (1) 9-to-5 worker (2) Extension worker (3) Bored worker (1) Mature (2) Armoured (3) Rocking-Chair (4) Angry Adjustment Styles (5) Self-blaming