- Survey: One in two would continue to work at retirement age
More than half of the employees of the 50+ generation can imagine working beyond the retirement age. 53 percent of respondents in a survey commissioned by the career network Xing and obtained by the German Press Agency stated this. They cited reasons such as money, but also contact with people or "self-fulfillment".
Around 62 percent of respondents said they would theoretically be able to work at that age. Of these, 34 percent could imagine a weekly working time of 11 to 20 hours, 25 percent rather 6 to 10 hours. About 17 percent would prefer a working time of 21 to 30 hours. Only around 12 percent could imagine a full-time position.
Due to the fact that significantly more people are retiring than joining the workforce, the German labor market is expected to shrink by at least 1,000 employees per working day by 2035, according to the statement. This poses challenges to many companies, industries, and the economy as a whole. "In times of skilled labor shortage, we cannot afford not to utilize this potential," says XING labor market expert Julian Stahl. Especially in sectors where there are shortages, the experience of older employees is indispensable, Stahl added.
The respondents' motivation for wanting to work beyond the official retirement age was primarily financial for 63 percent. But also maintaining contact with people was important for 56 percent. Around 33 percent cited self-fulfillment as a reason. About 24 percent would even do something completely different, work freelance or volunteer.
For the survey, 1,000 people in Germany aged 50 and above were questioned in a representative online survey in early March by the market research institute Appinio.
The European Union could potentially benefit from the trend of elderly workers choosing to continue working beyond retirement, as it could help mitigate labor shortages in various industries. The European Union, with its aging population, might need to adapt labor policies to encourage and accommodate this demographic.
