INTHEBLACK April 2022 - Magazine - Page 13
A SLOWER
ROAD TO
RETIREMENT?
The traditional path to retirement is working full-time before
abruptly stopping work altogether, but research from Edith
Cowan University (ECU) shows easing into retirement could
benefit workers and help employers address skills shortages.
The research examines how organisational factors can enhance older
workers’ psychological wellbeing. Professor Tim Bentley, director of
the ECU’s Centre for Work and Wellbeing, says a slower or graduated
retirement process presents a win-win for both employers and
employees.
“When older workers are gone, they take with them their
knowledge, skills and other know-how, which is hard to pass on,”
says Bentley, adding that many people struggle when first entering
retirement.
“Suddenly, you are confronted with a loss of identity, income and
the social aspect of work – there are many things you can lose when
you walk out those doors for the last time.
“But you can ease into it if you are able to slow down, from
working full-time to part-time, down to a day a week.”
Bentley says leadership is crucial in retaining older workers, who
often have differing wants and needs to those of younger employees.
“Flexibility also gives them the chance to have more downtime for
recovery, where work is strenuous, mentally or physically.”
READ THE REPORT HERE
88%
OF BUSINESS DECISIONMAKERS BELIEVE THE
CIRCULAR ECONOMY IS
IMPORTANT FOR THE
FUTURE OF THEIR BUSINESS.
27%
HOWEVER, ONLY
CAN CORRECTLY IDENTIFY
THE DEFINITION OF
CIRCULAR ECONOMY.
What does “circular economy”
actually mean? According to the
circular economy not-for-profit
the Ellen MacArthur Foundation, it
is “a systems solution framework
that tackles global challenges like
climate change, biodiversity loss,
waste and pollution. It is based on
three principles, driven by design
– eliminate waste and pollution,
circulate products and materials
(at their highest value), and
regenerate nature.”
Source: Australian Circular Economy Hub’s
Circularity in Australian Business 2021:
Awareness, Knowledge and Perceptions report
intheblack.cpaaustralia.com.au April 2022 13