Labor market - Almost one in three older people want to leave their job before retirement
Elderly employees, especially those over 50 years old, want to retire before the regular retirement age from their jobs. According to a survey conducted in Berlin on behalf of the Techniker Krankenkasse (TK), around 31 percent of this age group have such plans.
The survey also asked employees what they wished for to delay their planned exit from professional life. Besides a higher salary (66.5 percent), U-50-year-olds primarily mentioned measures for more flexible work time arrangements. These include adjusting work hours to individual needs and more support for designing individual retirement plans. According to the survey conducted by the Institute for Occupational Health Consulting, more than 70.3 percent of those surveyed expressed this wish.
What do the bosses say?
The Institute also interviewed personnel managers and managing directors from over 300 companies. Over three quarters of them stated that the retention of older employees would be of great importance for their companies in the next three years. At 46 percent of the companies, more than a quarter of the workforce is expected to retire within the next five years.
There is still room for improvement when it comes to fulfilling the wishes of older employees. Only slightly more than half of the companies surveyed for the report already offer more flexible work hours. Similarly, fewer than half offer the option to individually design retirement plans. According to their own statements, this is not even offered by half of the surveyed employers. However, there is agreement on the possibility of switching between part-time and full-time work and on health promotion measures.
TK-CEO appeals to companies
TK-CEO Jens Baas stated: "Given the labor shortage, it is essential for employers to focus more on the 50plus generation." Older employees are indeed a valuable resource for companies. "They possess a wealth of experience, are well-connected, and have usually spent years at their workplace."
Fabian Krapf, managing director of the Institute for Occupational Health Consulting, pointed out the "clear connection" between a positive company culture on the one hand and the desire of employees to retire later on the other: "Those who experience more appreciation, self-determination, and flexibility at work also work longer."
According to the TK-Report, employees who are less sick when young also remain in their jobs longer in old age. The Institute for Applied Quality Development and Research in Health Care analyzed the billing data of over 420,000 TK insured professional employees of the generations 1948 to 1956, who reached or passed the age of 67 between 2014 and 2023. Among the employees who reported no sick days in 2012 before the observation period, 14.1% were still employed at the age of 67. Among those who were sick-listed for 43 days or more, it was only 7.1%. In 2023, the average number of sick days for TK insured employees over 50 years was 25.9.
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- The TKK, based in Germany, conducted a survey in Berlin about the retirement plans of elderly employees, revealing that 31% of respondents over 50 years old wish to retire before the regular age.
- In response to the survey, many employers in Germany acknowledge the importance of retaining older workers, with over 70% of companies expecting a significant retirement exodus within the next five years.
- According to the TKK report, companies in Germany can benefit from their older employees' expertise and longevity in the workforce, as those who report fewer sick days when young tend to remain employed longer in their later years.
