Retirement; Nearly half would work past 64: survey.Nearly half (44 percent) of almost 2,000 global executives surveyed plan to continue working past the age of 64, with 15 percent planning to work past 70, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. global executive recruiting firm Korn/Ferry International. In fact, almost two-thirds of executives say they plan to work until later in life than they thought they would three years ago. In a possible clue as to why, 60 percent believe their employers have inadequate retirement benefits programs. The Korn/Ferry International Executive Quiz A quiz is a form of game or mind sport in which the players (as individuals or in teams) attempt to answer questions correctly. Quizzes are also brief assessments used in education and similar fields to measure growth in knowledge, abilities, and/or skills. is based on a global survey of executives registered with the firm's online Executive Center. This latest survey drew responses from nearly 100 countries, representing a wide spectrum of industries and functional areas. "The economic downturn of the past several years has clearly put strains on the retirement savings of all types of employees, including executives," said Charles W.B. Wardell 3rd, managing director of Korn/Ferry International and head of the Northeast region in the U.S. "We believe, however, there are additional motivations prompting executives to postpone post·pone tr.v. post·poned, post·pon·ing, post·pones 1. To delay until a future time; put off. See Synonyms at defer1. 2. To place after in importance; subordinate. retirement beyond the traditional age. The baby boomer baby boomer also ba·by-boom·er n. A member of a baby-boom generation. Noun 1. baby boomer - a member of the baby boom generation in the 1950s; "they expanded the schools for a generation of baby boomers" boomer generation is known for its work ethic--and many are simply not ready to slow down, especially as the average life span continues to increase. While this won't solve the pending demographic shortfall Shortfall The amount by which the capital required to fulfill a financial obligation exceeds available capital. Notes: Shortfall risk is often combated with an efficient hedging strategy created by a fund, group, institution, or individual. of talent, it will provide organizations with more opportunity to leverage senior talent and migrate institutional knowledge to younger workers." The survey also examined the issue of knowledge management and how companies are preparing for the imminent retirement of tens of millions of baby boomers See generation X. in the coming decade. Less than half (41 percent) of respondents In the context of marketing research, a representative sample drawn from a larger population of people from whom information is collected and used to develop or confirm marketing strategy. believe their employers are "very concerned" or "somewhat concerned" about the potential for losing critical knowledge as baby boomers retire. Additionally, just 21 percent say their company is actively taking steps to retain critical knowledge that might otherwise be lost as boomers retire. When Do You Plan to Retire? Before 50 2% 50-54 7% 55-59 19% 60-64 28% 64-69 29% 70+ 15% Source: Korn-Ferry International |
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