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Delayed Retirements Are Boon and Bane for Firms
The Wall Street Journal; subscription may be required July 13, 2009 Excerpt: In a recent survey of more than 2,200 U.S. workers by consulting firm Watson Wyatt Worldwide, 44% of respondents age 50 or older said they plan to postpone retirement; half of those say they plan to work at least three years longer than previously expected. That has added pressure on companies struggling to reduce payroll as profit dwindles. It also threatens to clog the pipeline for companies that want to bring in new blood.... But it has turned out to be good news for employers who are unprepared for mass retirements among baby boomers, the 78 million Americans born between 1946 and 1964. |
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