Retirement Transition Planning
Helping employees retire successfully
Demographics in the U.S. and other developed nations point to an aging population as varied as the general workforce.
Some choose traditional retirement paths while others seek options allowing them to remain engaged and involved with their careers. Employees are remaining with their organizations longer and rarely plan for disengagement and how to transition to retirement. This lack in retirement transition planning is leaving a void in workforce planning, impacting succession and critical knowledge transfer, not to mention employee engagement and organizational performance.
According to the U.S. Bureau of Labor Statistics:
- The labor force is expected to increase by 8.9 million, or 5.5%, from 2020 to 2030.
- The workforce aged 16 to 24 is projected to shrink by 7.5% from 2020 to 2030.
- Among people aged 75 years and older, the labor force is expected to grow by 96.5%.
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These numbers are unexpected and imply that over 80% of companies will report having a significant number of employees at or approaching retirement age. This demographic tsunami creates succession planning challenges for current and future staff that can’t be ignored without severe consequences to an organization.
Retirement transition planning and coaching support
CCI Consulting’s Retirement Transition Planning helps employees in the aging workforce prepare for retirement so they can enjoy the next chapters of their lives while it helps employers prepare for a changing workforce. Retirement transition marries the need for workforce and retirement planning with employees’ need to think about next steps. By engaging employees and the organization in a meaningful conversation, we promote the dialogue and planning that drives better outcomes for all.
We help organizations honor the legacy and contributions of the aging workforce while also preparing them for retirement and the organization for transition. Our programs and methodology ensure that late-stage career employees will feel valued for their work and supported in their journey, while the organization can more effectively address succession planning, knowledge transfer and continuity.
Through our proven processes, we can address the aging workforce, manage labor costs, and begin the transfer of knowledge and skills to the next generation of workers. Retirement-age employees will find a plan that fits their needs, including a road map for their later life options. On the operational side, CCI can assist leaders with the implementation of comprehensive strategies for effective succession, career, and workforce planning. If you’re looking to utilize the talent and experience of your current mature staff while retaining and acquiring new talent, connect with CCI Consulting to learn how we can develop a plan that makes sense for your company.
Contact us today to learn how our team can help your employees successfully prepare for retirement.
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