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Seniors Seek Flex Time into Retirement 

By John Morrissy, Canwest News Service

Canada

April 15, 2008

Nine to noon, Tuesday to Thursday - sound like a good work week? 
It does to older workers, who said in an Royal Bank of Canada (RBC) survey it'll take shorter work weeks and flexible hours, among other things, to keep them in the workplace after they retire.

"With unemployment levels at an all time low, good employees are harder to find," Christianne Paris, RBC's vice-president of recruitment and learning, said Tuesday. "Older workers are becoming an integral part of the Canadian workforce and employers need to look at ways of retaining and attracting them.

"Employers may have to alter the work environment or their recruitment profiles to suit older workers who are looking for more flexibility in their lives as they either transition into retirement or look to come back into the workforce."

The survey found that while four in 10 Canadians still plan to take full retirement when eligible, many have changed their attitude toward retirement. Many intend to either phase in retirement gradually (22 per cent) or retire and work on a contract basis (26 per cent).

But more than a third of those 55 and older (36 per cent) say they hope to work full-time for a few years and then scale back to part-time work or retire fully. Another 38 per cent would prefer to work part-time for their current employer as they transition into retirement.

Given such conditional interest on the part of older workers, employers will need to will pique employee interest with a bevy of perks, said the study, which was conducted by pollster Ipsos Reid and was based on interviews with 2,052 full-and part-time workers.

Extended health-care benefits was the key area older workers were looking for, (60 per cent), while 47 per cent said flexible hours were a high priority. Another 34 per cent said having a guaranteed wage or salary was a priority and 24 per cent highlighted phasing in the retirement process.

Employed Canadians aged 55 and older had one other caveat for securing their skills: about six and half weeks of vacation per year.


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