Q: How can I support staff during their transition into retirement?
A: For many, the idea of retiring from their day job is something to look forward to. However, for a significant number of employees the transition into retirement can be a stressful and confusing time. As such there are a number of measures you can take to support staff who wish to retire from work.
You need to make sure you have an appropriate retirement policy in place. Policies should outline the company’s standard procedure when it comes to retirement, including how staff are expected to inform you of their intention to retire and how much notice they are expected to provide.
It may also be beneficial to create a specific form for employees to complete when submitting a retirement request. This will help streamline submissions and guarantee that you have all the information you need.
You should understand that not everyone will want the same thing when it comes to their retirement. Therefore, if an employee submits a retirement request you should invite them to a face-to-face meeting to discuss how they would like the retirement to be handled.
For some, the topic of retirement may be sensitive. You should approach these meetings with a degree of care and consideration. It will be beneficial to have any relevant line managers and HR personnel present during the meeting as this is a good opportunity for any queries the employee may have relating to their pension arrangements or the option of flexible retirement.
Many employers choose to amend the work responsibilities of individuals who are approaching their retirement date, redistributing work among existing staff to reduce the impact of them leaving the organisation. However, you should still make sure there is sufficient work for the employee to do in the lead-up to their retirement.
It may be useful to ask the employee to help recruit their potential replacement. Although this tends to be more common with senior managerial roles, retiring employees can offer useful insights during interviews and help to select the best candidates.
It is important that employees are not subjected to any discrimination or harassment upon announcing their wish to retire. Instead, it would be wise to celebrate the individual’s retirement, with employers often choosing to purchase a gift in recognition of their service to the company.
Taking a proactive approach to supporting individuals looking to retire can have significant benefits for your organisation. Most importantly, you should remain in regular dialogue with affected staff to ensure all parties are suitably prepared for the eventual retirement date.
Peter Done is managing director of Peninsula