Though an estimated
10,000 baby boomers
retire daily, many still in the workplace foresee retirement to come later than expected-either by choice due to the labor shortage or out of necessity because of economic circumstances. That is one of the findings of a
newly released survey
conducted by The Harris Poll and commissioned by Express Employment Professionals.
Many seem to be taking advantage of the tight labor market by working later into their retirement years or leaving retirement to return to the workforce. Among working boomers, 72 percent say they would like to "semi-retire" if they can have flexible hours. When asked if their employer ever brought back any former employees who are now retired to their company, 37 percent said yes.
"Boomers aren't rushing to the office exits," said Express CEO Bill Stoller. "Whether it's to support elderly parents or adult children or because they just enjoy work, many want to stay in the game. But like every generation of modern workers, they'd like some flexible work arrangements too. In a tight labor market, employers are lucky to have the option of bringing back or keeping these qualified workers."
The majority of employed boomers (69 percent) say they are financially "prepared" for retirement, but only 27 percent say they are "very prepared". While most express positive sentiments about their current jobs (82 percent), they also share doubts about their company not having an adequate successor who will replace them (56 percent).
In an indication that many boomers are not eager-or not able-to rest in their golden years, nearly one-quarter (23 percent) say they still want to work in some capacity during "retirement" and the majority are open to "semi-retirement."
The national survey of 1,500 U.S. workers ages 54 to 72 was conducted online by The Harris Poll between Oct. 16 and Nov. 6, 2018, on behalf of Express. It offers a detailed, in-depth look at the outlook of baby boomers who are still working.
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