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Ageing workforce specialists SageCo recently asked more than 300 mature employees, “What would influence your decision to work longer?” More than 60 percent said that the opportunity to work the same role but on a more flexible basis would be a reason to stay. In the same vein, over half said that working in a similar role but with reduced hours and less responsibility would see them working beyond the traditional retirement date.

“The trick to the age management puzzle is slowing the rate of retirement” says SageCo MD, Alison Monroe. “Use your workforce planning data to determine the risk of not only how many you are losing, but also who you are losing.”

Extending the working life of our baby boomer generation is a key strategy for ensuring a future workforce. By 2016 we have more people leaving the workforce than entering it;  something has to shift. But how?

The results of this survey suggest that managers and HR professionals need to build a high level of competency in redesigning roles, applying flexible work arrangements and dealing with the more granular tasks of remuneration and superannuation.

While flexible work opportunities were the clear winner here, respondents showed strong support for an organisation’s alumni program to provide contracting opportunities and the means to contribute knowledge to special projects.

“SageCo sees a strong argument for the reinvention of the alumni model.” says Catriona Byrne, SageCo Director and Product Development Lead. “Up till now, most alumni programs simply provide a means for past employees to keep in touch annually.

We are having early discussions with a few progressive organisations who have tapped into the opportunity of using their alumni program as a way to resource the future. The new alumni model is a living, breathing knowledge database and a talent pool of experienced, contingent employees who can hit the ground running.”

None of these interventions will make a difference unless organisations have a baseline of good people management. However, it is clear that new practices must be put in place to influence retiring employees.

“The results also indicate that organisations need to actively support late career employees in their decisions about work and retirement.” suggests Alison Monroe “The mindset shift required by employees and employers alike won’t happen left to chance.”