Korn Ferry’s Post

Congratulations on addressing the topic. We are indeed in a transition process that should take some time to accommodate new trends. I believe that the main starting point, or continuity point, should be the treatment of succession plans, not only for leaders but also for technicians (and others). Professionals who are approaching, or already on, retirement age can be great promoters of this process, using their experience and maturity to identify and be ambassadors, mentors, of this transition that is about to come.

Ridiculous article. It does not seriously address or understand the reality faced by mid-late career workers (who are largely GenX - not just Boomers). The actual issue is about _extended careers_ - not "retirement." Take the word out of your vocabulary. Don't dignify it by creating a nonsense job title around it. How can companies address retention, retraining, and longer careers under the banner of "retirement?" It's contradictory. And if it's meant as tongue-in-cheek, it's condescending to the majority of late-career workers who are denied the extended careers they want due to corporate ageism. What we need is for employers to understand and create multi-generational workforce strategies that recognize and take advantage of 60-year careers - vs the 40-year careers that are rapidly becoming outdated.

The ordinary experience of working is constructed around the paradigm of youth, and retirement, accordingly has to be viewed within this paradigm. This for the most part is not made explicit in the design of organizations. However, having invested so much in people, companies really ought to think beyond this paradigm and realize new horizons for the human life after 40, 50, 60 and beyond. That never before have there been so many people entering older age groups with relatively good health, creates a tremendous opportunity. It's really a case of creating wins at multiple levels. Discovering ways of working that make sense, different from the excited, driven, energetic youthful aspirational model, offers the employers a path to create value from their organizations and to potentially identify new markets. These are likely to be more holistic ways of understanding the human experience, build on paths to joy and sustainability. It is hard to imagine how to bring new dimensions of development and personal growth in the normal organizational structures, but it's a great opportunity worth exploring. Then, for a larger group, there may be a path of transformation, and retirement understood as switching from an outgrown paradigm.

While in the Investment Banking industry I was intrigued by the “Advisory Director” role where senior Managing Directors would begin their retirement transition but still have an office and some support staff. The role was described as part advisor and part business development/external relationships. Odd times indeed with so many variations of “retirement.”

Designation is indeed very catchy. Retirement is inevitable in everyone’s life. Some plan well but some don’t. One’s circumstances also matters in the process of planning. Post retirement, many want to continue working not only for the money but to engage themselves so that empty mind doesn’t become devils workshop. Of course some have their own commitments and they don’t get time. So it depends on individual and varies from person to person. As such CRO is indeed need of the hour for any organisation. HR function can encompass everything and services of many can be effectively utilised post retirement too in case they are open for it.

The concept of retiring at 60 in India and sailing into the sunset feels increasingly outdated as more individuals choose diverse paths—whether it's continuing to work part-time, starting a new venture, or simply exploring new passions. The idea of a Chief Retirement Officer makes a lot of sense. Someone dedicated to navigating these varied journeys, identifying top talent keen on contributing post-retirement, and ensuring that transitions are smooth and beneficial for both employees and employers alike. There is immense value in retaining experienced professionals who still have so much to offer. It's not just about economic considerations but also about tapping into their expertise and passion, which often align with their strongest skills. During my consulting work, I have seen flexible retirement options can invigorate the workforce and bring innovative perspectives. This flexibility, not only retains valuable knowledge but also fosters a culture where individuals can thrive beyond traditional retirement age.

Corporate succession planning and change management most certainly includes retirement factors. For those individuals who are successful and choose to remain active for whatever reason, they can represent important value to an organization with their learned/earned wisdom and experience. Therefore, having the ability to structure positions that enable these valued individuals to continue their productive careers can deliver a strong ROI and further enhance corporate sustainability.

Valuable topic 👏👏 for not only employees but the companies as well. I think the CRO should focus on the mutual resulting benefits afterwards. Therefore, the healty and smart relationship after retirement could be established and use whenever needed, or stay happy… Yes, should touch on every main HR topics during the employment, so Employee Experience Management importance becomes more relevant. I believe it woud be good for CRO’s to start bulding the Employees Experience Management Systems first.

I share the same thoughts in recent years … “Recent data says that two-thirds of employees would like to continue working for pleasure into their retirement years”. Not just individual but corporation also have to consider the best transition of talents in retirement. Not just by rules but also realistic values and expectations.

I agree with most of the points. This article needs to be read by companies, and another possible responsibility for a CRO would be to bring awareness about how the company will prepare when Gen X reaches the stage of retirement.