Workforce Participation Choices of Older Males

Abstract

Those involved in the management of workplace human resources need to have information regarding the nature and strength of older employees' desire to continue working Such information is particularly relevant now that early retirement is often used as a means of workforce reduction, legislation against age descrimination has been passed in most Australian states, and increased life expectancy means that people can look to many years of retirement.

This paper reports on a sample of 137 older males regarding their plans for their working future, and those factors that have influenced their current thinking and those that might cause them to revise their plans. Half the employees were on wages, half on salaries, and they came from two organizations—one a private enterprise, the other a public utility.

As anticipated, salaried employees are better placed financially to consider retirement prior to 65, usually because of superannuation benefits; wages employees anticipated working about three years longer than salaried employees. Only a small minority of the total sample expected further job development, and wages employees were particularly restricted in their perceptions of future work options.

All groups were highly ambivalent about leaving the workforce, though the vast majority of employees surveyed did not perceive themselves as committed to working beyond age 65.