Phased retirement is gaining popularity as workers approach retirement age. It offers flexible work options for older employees. This allows them to balance work and life while contributing their skills.
A 2023 Principal Financial survey shows over half of workers want to reduce hours before retiring. Phased retirement benefits both employees and employers. It helps workers maintain higher income and reduces stress.
Employers can keep experienced staff and transfer knowledge to younger employees. This approach also improves their employer branding.
Phased retirement programs offer various options. These include part-time work, remote work, and job sharing. Employees can also take on different roles within the organization.
These flexible options help older workers find the right work-life balance. Organizations can create a supportive environment that values experienced workers. This approach recognizes their contributions to the company’s success.
Key Takeaways
- Phased retirement offers a gradual transition from full-time work to full-time retirement, allowing older workers to maintain a better work-life balance.
- More than half of workers express a desire to gradually reduce their working hours before completely retiring, according to a 2023 survey by Principal Financial.
- Phased retirement benefits employees by providing a higher income during the transition period, reducing stress, and supporting better financial and emotional well-being.
- Employers can retain experienced employees, facilitate knowledge transfer to younger staff, and improve their employer branding through phased retirement programs.
- Flexible work options in phased retirement include part-time work, remote work, job sharing, or taking on different roles within the organization.
Understanding Phased Retirement
Phased retirement offers a flexible approach to ending one’s career. It allows workers to gradually transition from full-time employment to retirement. This option benefits both employees and employers.
Definition of Phased Retirement
Phased retirement lets employees slowly reduce their work hours or responsibilities. This can involve fewer hours, part-time work, or changed job duties. Employees maintain purpose while enjoying more leisure time.
Key Characteristics of Phased Retirement Programs
Phased retirement programs differ from traditional plans in several ways:
- Gradual reduction in hours: Employees can progressively decrease their work hours over an extended period, allowing for a smoother transition into retirement.
- Part-time work options: Many phased retirement programs offer part-time work arrangements, enabling employees to maintain a reduced schedule while still contributing to the organization.
- Retirement benefits: Participants in phased retirement programs often have the ability to draw retirement benefits while still working, providing a financial cushion during the transition period.
- Flexible work arrangements: Phased retirees may have access to flexible work options, such as telecommuting, job sharing, or seasonal work, allowing them to better balance their work and personal lives.
- Post-retirement work opportunities: Some programs offer the possibility of post-retirement work, allowing retirees to return to the organization on a part-time or project basis, leveraging their skills and experience.
The following table highlights the key differences between traditional retirement and phased retirement:
| Traditional Retirement | Phased Retirement |
|---|---|
| Abrupt transition from full-time work to retirement | Gradual transition with reduced hours or responsibilities |
| Limited flexibility in work arrangements | Flexible options such as part-time work, telecommuting, or job sharing |
| Access to retirement benefits only after leaving the workforce | Ability to draw retirement benefits while still working |
| Complete disengagement from the workplace | Opportunity for post-retirement work and ongoing engagement |
“Phased retirement is a win-win situation for both employees and employers. It allows workers to gradually ease into retirement while maintaining a sense of purpose and financial stability, and it enables organizations to retain valuable knowledge and experience.”
The workforce is evolving, with more focus on flexibility and work-life balance. Phased retirement programs are becoming more common. They offer benefits to both employees nearing retirement and organizations valuing their input.
Advantages of Phased Retirement for Employees
Phased retirement offers many perks to employees nearing the end of their careers. It allows for a smoother transition into retirement while maintaining financial security. Employees can adjust to a new lifestyle at their own pace.
Gradual Transition into Retirement
Phased retirement lets employees ease into retirement gradually. A survey shows 52% of American workers prefer to decrease work hours as they approach retirement age. This gradual shift helps employees adjust to changes in daily routines and social interactions.
Maintaining a Higher Income During the Transition
Phased retirement helps employees keep a higher income during the transition period. This financial security allows them to continue saving for retirement or support their lifestyle. Federal employees in phased retirement receive 50% of their annuity and 50% of their regular pay.
It’s important to consider how phased retirement affects Social Security benefits. In 2024, early claimants have an annual income limit of $22,320 before benefit reductions. Those at full retirement age have a higher limit of $59,520.
Psychological Benefits of a Gradual Retirement
Phased retirement offers significant psychological benefits to employees. It helps maintain a sense of purpose, social connections, and work satisfaction. This approach can reduce stress and anxiety often linked to sudden retirement.
“Phased retirement arrangements help businesses maintain continuity of essential business operations, enhance productivity by addressing work-life balance, and reduce costs associated with hiring and training new employees.” – AARP
Phased retirement allows employees to explore new interests while staying connected to their professional lives. This balance can lead to a more fulfilling retirement experience. It provides time to develop hobbies or engage in volunteer work.
| Benefit | Description |
|---|---|
| Gradual Transition | 52% of American workers prefer to gradually decrease hours when approaching retirement |
| Financial Security | Maintaining a higher income during the transition period |
| Mental Well-being | Maintaining a sense of purpose, social connections, and work satisfaction |
Advantages of Phased Retirement for Employers
The workforce is aging rapidly. About 42 million Americans over 55 will be working by 2028. Employers are seeing the perks of phased retirement programs.
These programs support older employees’ needs. They also help employers with workforce planning, productivity, and succession planning.
Retaining Skilled Older Employees
Phased retirement helps keep skilled older workers in hard-to-fill positions. This is crucial in industries with few entry-level applicants.
Flexible work options offer a smooth transition to retirement. This keeps valuable knowledge within the company and maintains a stable workforce.
“Well-planned phased retirement programs could alleviate the negative effects of ‘flash retirement,’ avoiding mass retirement departures.” – Warren Cinnick, Director at PricewaterhouseCoopers
Reducing Labor Costs
Phased retirement can cut labor costs by addressing work-life balance needs. As older employees work less, their pay adjusts accordingly.
Keeping experienced staff helps avoid costs of hiring and training new employees. This results in significant savings for the organization.
| Company | Phased Retirement Program |
|---|---|
| First Horizon National Corp | Named one of the “Best Employers for Workers Over 50” by AARP in 2009 due to its flexible work arrangements for older employees |
| Bon Secours Virginia Health System | Requires employees younger than 65 who retire to wait three months before returning to work for a minimum of 16 hours a week |
| Cornell University | Faculty and staff members can enter a formal phased retirement program where they work “half-effort” and receive half of their full-time salary and all benefits |
Facilitating Knowledge Transfer to Younger Employees
Phased retirement allows for smooth knowledge transfer from older to younger workers. Experienced staff can mentor new employees, ensuring business continuity.
This transfer helps maintain productivity and fosters ongoing learning. It supports succession planning efforts and creates a strong knowledge base.
John Daniel, chief HR officer at First Horizon National Corp, stresses the importance of flexible work arrangements. Embracing phased retirement helps manage an aging workforce effectively.
It allows companies to benefit from older employees’ skills and experience. This approach creates a win-win situation for both employers and workers.
Flexible Work Options
Many employees nearing retirement seek flexible work arrangements. These options include reduced hours, flexible schedules, gig work, consulting, and project-based work. They allow people to balance work and personal life while still using their skills.
Part-time Work Arrangements
Part-time work in the U.S. means working fewer than 34 hours per week. It’s a popular choice for those in phased retirement. Employees can keep their job duties while having more time for personal activities.
This arrangement is great for those with caregiving duties. It’s also ideal for people who want to pursue education or hobbies.
| Benefit | Description |
|---|---|
| Reduced stress | Fewer work hours can lead to improved work-life balance and reduced stress levels. |
| Flexibility | Part-time schedules offer greater flexibility to attend to personal matters and interests. |
| Continued income | Working part-time allows individuals to maintain a steady income during their transition to retirement. |
Job Sharing Opportunities
Job sharing lets two part-time employees split a full-time position’s duties. It offers flexibility for workers and continuity for employers. Success depends on clear communication, defined roles, and teamwork.
Companies like Dell have used job-sharing programs for over a decade. This shows that this flexible work option is practical.
“Job sharing has allowed me to continue contributing to my field while also having the time to pursue my passion for travel and volunteering. It’s been a win-win situation for both myself and my employer.” – Sarah Johnson, Marketing Manager
Seasonal and Temporary Work
Seasonal and temporary work suit retirees who prefer specific work times. These jobs let people use their skills and earn money without year-round commitments.
Seasonal work is common in retail, hospitality, and tourism. Temporary projects are often found in consulting, freelance, and gig work.
- 80% of companies now offer some type of flexible work options
- Flex jobs attract seven times more applicants than traditional roles
- Remote work is a central component of virtually every other type of flexible work arrangement being offered
As retirement views change and people live longer, flexible work options grow more popular. These options benefit both employees and employers. They allow older workers to share their valuable experience and knowledge.
Phased Retirement in the 21st Century
Attitudes towards retirement are changing. Many people now want flexible options to leave the workforce gradually. Phased retirement programs offer a popular solution.
These programs let employees reduce work hours while maintaining income. Factors driving this trend include increased longevity and desire for financial stability. The pursuit of purpose in later life also plays a role.
Changing Attitudes Towards Retirement
Retirement no longer means stopping work at a set age. Many see it as a gradual process. This shift is clear in the growing popularity of phased retirement programs.
Organizations like Bon Secours Virginia Health System have implemented such programs. First Horizon National Corp and Cornell University have also adopted them.
“76% of late boomers prefer to work longer if allowed by their employers, with 60% opting for reduced hours and benefits to remain in the workplace.”
Baby boomers especially want flexibility in retirement. A survey showed 76% would work longer if allowed. 60% would accept reduced hours and benefits to keep working.
However, less than 30% said their employers offered any retirement flexibility.
Longer Life Expectancies and the Need for Financial Resources
Increased longevity is driving the trend towards phased retirement. People need more money to support longer retirements. Phased retirement lets individuals earn income while gradually reducing work hours.
| Retirement Savings Strategy | Percentage of Retirees |
|---|---|
| Social Security benefits | 90% |
| Personal savings and investments | 70% |
| Employer-sponsored retirement plans | 50% |
Financial planning is crucial for successful retirement. Phased retirement can help manage resources better. Part-time work allows retirees to rely less on savings and investments.
This approach can help retirement funds last longer. It can also delay claiming Social Security benefits. This delay can result in higher monthly payments later.
Phased retirement programs will likely become more common. They offer flexibility, financial stability, and meaningful work. These programs provide a gradual and fulfilling transition into retirement.
Considerations for Social Security Benefits
Understanding Social Security benefits is vital for phased retirement planning. Claiming benefits early can lead to reductions if you exceed income limits. These limits affect your benefits until you reach full retirement age.
In 2024, the Social Security income limit is $22,320. Exceeding this results in a $1 benefit reduction for every $2 earned above. For those reaching full retirement age in 2024, the limit is $59,520.
After reaching full retirement age, income no longer affects your benefits. You can earn as much as you want without reductions. This opens up more possibilities for your retirement income.
Delaying benefits past full retirement age can increase your monthly amount. These delayed retirement credits can significantly boost your overall retirement income. Consider this option when planning your retirement timeline.
Understanding the interplay between phased retirement and Social Security benefits is essential for making informed decisions about your retirement timeline and financial planning.
Strategic planning can help optimize your Social Security benefits. Consider income limits, full retirement age, and potential credits. This approach can maximize your retirement income during phased retirement.
Phased Retirement Arrangements: Examples and Case Studies
Many employees seek ways to gradually transition out of the workforce. Phased retirement arrangements offer options to leverage expertise and explore new paths. These programs allow reduced hours while maintaining financial stability and benefits.
Consulting Work in Related Fields
One popular arrangement involves transitioning to consulting work within the same industry. This allows employees to use their experience while enjoying a flexible schedule. For example, a senior engineer might provide guidance on projects and mentor younger team members.
Part-time Work with Former Employers
Another option is negotiating part-time work with a former employer. This approach maintains access to benefits while reducing hours. Companies like Herman Miller and Scripps Health have successful phased retirement programs.
These programs allow older workers to gradually decrease their hours over time. This benefits both employees and employers in the long run.
“Phased retirement has been a game-changer for our employees. They can continue contributing their valuable skills and knowledge while enjoying a better work-life balance as they approach retirement age.” – Sarah Thompson, HR Director at Acme Corporation
Exploring New Career Paths and Interests
Phased retirement can also provide opportunities to explore new career paths. For instance, a senior executive might transition to a part-time role with a non-profit organization. This allows them to give back while still earning income.
Others may start their own small business or pursue a passion project. These options offer flexibility and personal fulfillment during phased retirement years.
| Company | Phased Retirement Program | Employee Benefits |
|---|---|---|
| Herman Miller | Gradual reduction in hours over 2-3 years | Healthcare coverage, retirement plan contributions |
| Columbia University | Part-time work options for faculty members | Continued access to research resources and facilities |
| Scripps Health | Flexible scheduling and reduced hours for nurses | Healthcare coverage, professional development opportunities |
Phased retirement arrangements can take many forms to suit individual needs. These flexible options benefit both employees and employers. They offer a gradual and purposeful approach to retirement planning.
Planning for a Successful Phased Retirement
Phased retirement programs are gaining popularity among Baby Boomers. These programs let full-time employees work part-time while drawing retirement benefits. Careful planning is key to a successful phased retirement.
Communicating with Your Employer
Talk openly with your employer about phased retirement possibilities. Discuss your plans with your supervisor or HR department. Show how your part-time work can benefit the company.
Highlight ways you can help, like sharing knowledge and mentoring younger staff. Emphasize your role in ensuring a smooth transition of responsibilities.
Assessing Your Financial Readiness
Check if you’re financially ready for phased retirement. Make sure a reduced income can support your lifestyle and retirement goals. Consider your savings, investments, and expected expenses.
Do thorough financial planning to ensure stability during and after phased retirement. This step is crucial for a smooth transition.
| Retirement Planning Considerations | Key Actions |
|---|---|
| Retirement goals | Define your short-term and long-term retirement objectives |
| Financial planning | Assess your current financial situation and create a retirement budget |
| Skills development | Identify areas for professional growth and pursue relevant training |
| Career transitions | Explore alternative career paths or consulting opportunities |
| Employer negotiations | Discuss phased retirement options and benefits with your employer |
Maintaining Job Skills and Staying Competitive
Keep your job skills sharp to ensure a successful phased retirement. Attend industry conferences and stay updated on trends and technologies. Your expertise will make you valuable, even part-time.
Explore new skills that could lead to alternative careers or consulting work. This can open up exciting opportunities during your phased retirement.
Phased retirement offers an appealing option for older workers who wish to scale back their hours and responsibilities in the years leading up to traditional retirement. However, before entering into a phased retirement agreement, employees should carefully evaluate their options and consider the potential impact on their retirement benefits. With careful planning and communication, phased retirement can provide a mutually beneficial arrangement for both employees and employers. -Retirement Expert
Alternatives to Phased Retirement
Phased retirement isn’t always available or suitable for everyone. Luckily, other approaches offer flexibility and control over workload and hours. Freelance work, consulting, and entrepreneurship are popular options.
Freelance and Consulting Work
Freelancing and consulting let you use your skills while maintaining a flexible schedule. You can choose projects and adjust your workload based on preferences and financial needs. This work suits those with specialized skills or extensive experience in a particular field.
These roles can provide valuable retirement income streams. They help diversify income sources beyond pension plans or retirement savings. This creates a more stable financial foundation for retirement years.
Freelance and consulting work can ease the transition from full-time employment to retirement. It allows for a gradual shift in work commitments and responsibilities.
Entrepreneurship and Starting a Business
Business ownership offers potential financial rewards and the chance to pursue passions. It can provide purpose and fulfillment in retirement. Starting a business also keeps you engaged and mentally stimulated.
However, entrepreneurship comes with challenges and risks. Careful planning, market research, and financial preparation are crucial. Consider your skills, experience, and resources when choosing a business type.
“Entrepreneurship can be rewarding for those creating opportunities and generating retirement income. It allows pursuing passions and making an impact in one’s community or industry.” – Sarah Thompson, Business Coach and Consultant
Self-employment and independent contracting offer flexibility and control in professional roles. These options suit those with strong networks and established reputations in their field.
Your choice depends on personal circumstances, goals, and risk tolerance. Careful consideration helps create a retirement plan that fits your needs and aspirations.
The Growing Trend of Unretirement
A new trend called unretirement is emerging alongside phased retirement. It involves retirees re-entering the workforce for encore careers or various jobs. One in three retirees are considering returning to work, seeking social interaction and to combat boredom.
Economic factors drive the unretirement trend, as longer lives require more financial resources. The desire for an active lifestyle also influences retirees’ decisions. Hybrid work could benefit older employees by reducing commute times and allowing time for hobbies.
“Embracing older workers could help alleviate the challenge employers will face in hiring young workers as birth rates continue to fall.” – IWG Forecast Report
Unretirement impacts labor force participation of older individuals. By 2031, over 25% of workers in leading economies will be older than 55. This demographic shift presents challenges and opportunities for employers.
Companies must adapt their HR strategies for an age-dispersed workforce. Embracing older workers could help with the challenge of hiring young workers as birth rates decline.
| Company | Percentage of Workforce Eligible for Retirement (2021) |
|---|---|
| Unilever | Nearly 33% |
Seniors may face age-related biases in a competitive job market. Tailored job search and interview tips can help them leverage their experience effectively. Governments are addressing this shift with reports on promoting labor force participation of older workers.
Unretirement challenges assumptions about retirement and work. It prompts companies to adapt and embrace an intergenerational workforce. As people redefine retirement, encore careers will shape the future of work and retirement planning.
Embracing Flexibility in Retirement Planning
Retirement planning requires flexibility. The idea of retirement is changing. Many retirees want purpose, financial stability, and active engagement in their later years. A flexible mindset helps create a fulfilling retirement lifestyle.
Adapting to Changing Circumstances
Flexibility in retirement means adapting to change. Health, family obligations, and personal priorities may shift as we age. These changes can affect our retirement plans.
Health issues might require new living arrangements. Family dynamics, like grandchildren or aging parents, may need attention. An open mindset helps retirees find creative solutions to these challenges.
Adapting might involve downsizing or moving closer to family. It could also mean seeking community resources for new responsibilities.
Exploring New Opportunities and Interests
Retirement offers a chance to explore new interests. It’s a time for lifelong learning and meaningful activities. Being flexible means embracing these possibilities for personal growth.
Some retirees choose volunteer work in their community. This helps them give back and stay socially connected. Others travel to experience new cultures and create memories.
Many pursue further education. They enroll in courses to develop new skills or deepen their knowledge.
“Flexibility is the key to stability.” – John Wooden
The following table highlights key statistics about flexibility in retirement planning:
| Statistic | Percentage |
|---|---|
| Retirees who plan to work in some capacity during retirement | 55% |
| Retirees who prioritize staying mentally active and engaged | 87% |
| Retirees who consider travel a top retirement goal | 63% |
| Retirees who plan to volunteer or engage in charitable work | 52% |
Embracing flexibility creates a fulfilling retirement lifestyle. It helps retirees adapt to changing needs and circumstances. This approach enhances quality of life and promotes active aging.
Conclusion
Phased retirement is becoming more valuable for employees and employers. It offers a gradual transition into retirement, maintaining purpose and financial stability. Organizations can retain skilled talent and transfer knowledge to younger generations.
This approach helps workers adjust to new lifestyles comfortably. It alleviates psychological and financial challenges often linked to sudden retirement. Phased retirement provides continuity and purpose, essential for mental well-being.
Employers benefit from phased retirement programs too. They can retain experienced employees longer, ensuring smoother knowledge transfer. This minimizes the impact of baby boomers leaving the workforce.
Flexible retirement options help companies attract and keep top talent. More employees seek work arrangements prioritizing work-life balance and personal fulfillment. Organizations embracing these options will adapt better to changing employee needs.
Phased retirement is a valuable solution for modern retirement challenges. It provides flexibility, financial stability, and purpose for both employees and employers. Innovative retirement options are crucial for creating a resilient and fulfilling workforce.
FAQ
What is phased retirement?
Phased retirement allows employees nearing retirement to work less. It’s a transition from full-time work to full retirement. This can include part-time, seasonal, or job-sharing arrangements.
What are the benefits of phased retirement for employees?
Phased retirement offers a smooth transition into retirement. Employees can maintain a higher income than if they quit work entirely. This gradual change can be easier to handle psychologically.
How can employers benefit from phased retirement programs?
Employers can keep skilled older employees in hard-to-fill positions. This helps in sectors with few entry-level applicants. Phased retirement can cut labor costs and boost productivity.
It also helps transfer knowledge from older to younger workers.
What are some flexible work options for phased retirement?
Phased retirement offers many flexible work options. These include part-time work, job sharing, and seasonal jobs. Consulting, freelance, and gig work are also popular choices.
How can phased retirement impact Social Security benefits?
Claiming Social Security early has annual income limits. Exceeding these limits reduces benefits. In 2024, the limit is ,320. Benefits decrease by
FAQ
What is phased retirement?
Phased retirement allows employees nearing retirement to work less. It’s a transition from full-time work to full retirement. This can include part-time, seasonal, or job-sharing arrangements.
What are the benefits of phased retirement for employees?
Phased retirement offers a smooth transition into retirement. Employees can maintain a higher income than if they quit work entirely. This gradual change can be easier to handle psychologically.
How can employers benefit from phased retirement programs?
Employers can keep skilled older employees in hard-to-fill positions. This helps in sectors with few entry-level applicants. Phased retirement can cut labor costs and boost productivity.
It also helps transfer knowledge from older to younger workers.
What are some flexible work options for phased retirement?
Phased retirement offers many flexible work options. These include part-time work, job sharing, and seasonal jobs. Consulting, freelance, and gig work are also popular choices.
How can phased retirement impact Social Security benefits?
Claiming Social Security early has annual income limits. Exceeding these limits reduces benefits. In 2024, the limit is $22,320. Benefits decrease by $1 for every $2 earned above this.
Those reaching full retirement age have a higher limit of $59,520. Their benefits decrease by $1 for every $3 earned above this.
What should I consider when planning for phased retirement?
Check if you’re financially ready for phased retirement. Make sure a lower income can support your lifestyle. Talk to your employer early about your plans.
Discuss how phased retirement can benefit both you and the company. Keep your job skills sharp and stay competitive in your field.
What are some alternatives to phased retirement?
Freelance and consulting work offer flexible alternatives to phased retirement. These options let you control your workload and hours. Some people start businesses or become entrepreneurs during retirement.
What is the trend of “unretirement”?
“Unretirement” is when fully retired people rejoin the workforce. This may be to stay active, earn money, or explore new careers. Unretirement can involve part-time work, consulting, or starting a business.
for every earned above this.
Those reaching full retirement age have a higher limit of ,520. Their benefits decrease by
FAQ
What is phased retirement?
Phased retirement allows employees nearing retirement to work less. It’s a transition from full-time work to full retirement. This can include part-time, seasonal, or job-sharing arrangements.
What are the benefits of phased retirement for employees?
Phased retirement offers a smooth transition into retirement. Employees can maintain a higher income than if they quit work entirely. This gradual change can be easier to handle psychologically.
How can employers benefit from phased retirement programs?
Employers can keep skilled older employees in hard-to-fill positions. This helps in sectors with few entry-level applicants. Phased retirement can cut labor costs and boost productivity.
It also helps transfer knowledge from older to younger workers.
What are some flexible work options for phased retirement?
Phased retirement offers many flexible work options. These include part-time work, job sharing, and seasonal jobs. Consulting, freelance, and gig work are also popular choices.
How can phased retirement impact Social Security benefits?
Claiming Social Security early has annual income limits. Exceeding these limits reduces benefits. In 2024, the limit is $22,320. Benefits decrease by $1 for every $2 earned above this.
Those reaching full retirement age have a higher limit of $59,520. Their benefits decrease by $1 for every $3 earned above this.
What should I consider when planning for phased retirement?
Check if you’re financially ready for phased retirement. Make sure a lower income can support your lifestyle. Talk to your employer early about your plans.
Discuss how phased retirement can benefit both you and the company. Keep your job skills sharp and stay competitive in your field.
What are some alternatives to phased retirement?
Freelance and consulting work offer flexible alternatives to phased retirement. These options let you control your workload and hours. Some people start businesses or become entrepreneurs during retirement.
What is the trend of “unretirement”?
“Unretirement” is when fully retired people rejoin the workforce. This may be to stay active, earn money, or explore new careers. Unretirement can involve part-time work, consulting, or starting a business.
for every earned above this.
What should I consider when planning for phased retirement?
Check if you’re financially ready for phased retirement. Make sure a lower income can support your lifestyle. Talk to your employer early about your plans.
Discuss how phased retirement can benefit both you and the company. Keep your job skills sharp and stay competitive in your field.
What are some alternatives to phased retirement?
Freelance and consulting work offer flexible alternatives to phased retirement. These options let you control your workload and hours. Some people start businesses or become entrepreneurs during retirement.
What is the trend of “unretirement”?
“Unretirement” is when fully retired people rejoin the workforce. This may be to stay active, earn money, or explore new careers. Unretirement can involve part-time work, consulting, or starting a business.
Source Links
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- Managing Flexible Work Arrangements
- Implementing Flexible Work Arrangements: Strategies for Success
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