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WORK & RETIREMENT

WORK & RETIREMENT. WORK = income, standard of living. plus meaning, status, stimulation, outlet for knowledge/creativity. ‘ a search for daily meaning as well as daily

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WORK & RETIREMENT

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  1. WORK & RETIREMENT WORK = income, standard of living plus meaning, status, stimulation, outlet for knowledge/creativity ‘ a search for daily meaning as well as daily bread, for recognition as well as cash, for astonishment rather than torpor; in short, for a sort of life rather than a Monday through Friday sort of dying.’ (Terkel, 1974)

  2. Ageism in the Workplace • failing to hire/discharging an older worker • early retirement incentives • no retraining/development • halting salary increases • demoralization tactics • overlooked for promotions • first to be fired  older workers forced into lower wages/salary

  3. Work Performance & Age • chronological age  poor predictor ! Salthouse & Maurer (1996) Framework • negative relationships btwn age and ability • expected to lead to low performance are • mediated by greater knowledge • experience = knowledge = performance • stable/increased crystallized intelligence • old rely on prior knowledge • young must develop new solutions • to problems encountered

  4. Knowledge Age Skills Job Performance Abilities System Factors Other Career Development

  5. Work Performance & Age cont’d ... • old adopt coping strategies • retraining works • greater job satisfaction • loyal, less absenteeism, fewer accidents increase performance & value of older worker ?? Consequences devalued   negative self-image   lose interest, motivation

  6. Mentoring (1) improve protégé’s chances for advancement (2) promote protégé’s psychological well-being • mentoring = fulfillment, teaching, • passing on knowledge Kram (1985): 4 Stage Sequence (1) Initiation: selection, development of protégé (2) Cultivation: teaching, development (3) Separation: protégé moves one (4) Redefinition: protégé becomes peer

  7. RETIREMENT History (& Future?) of Retirement Policy • 19th century - agrarian, work until death • turn of century - 70% males 65+ working • 20th century - Industrial Revolution • need to  workers • universal pensions • Old Age Security Benefits: • (1) Income Security • (2) Retirement Pension

  8. Retirement Policy cont’d ... • Pension systems established when: • inflation and fertility rate predictable • assumed retirement at age 65  project income needed to provide payments BUT •  fertility rates in baby boomers • people live longer   dependency • high unemployment   contributions • early retirement   contributions •  inflation   payments

  9. Decision to Retire? • 1960s - “chronological guillotine” • early retirement = 2 central issues  health & money also attitude, satisfaction, interests • psychologically, choice is important • forced retirement (graceful way to retire?) vs. competency-based retirement • places w/ forced retirement - patterns much • the same as w/ forced retirement • solution: flexible or gradual retirement?

  10. Phases of Retirement (Atchley, 1985) (1) Remote (2) Near (3) Honeymoon (4) Disenchantment (5) Reorientation (6) Stability (7) Termination

  11. Worker-to-Retiree Styles (1) 9-to-5 worker (2) Extension worker (3) Bored worker Adjustment Styles (1) Mature (2) Armoured (3) Rocking-Chair (4) Angry (5) Self-blaming

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