A Corporate Bogey – Delayed Retirement
The new reality in the corporate world is that employees are now often delaying their retirement plans. This new phenomenon, partly resulting from longer life expectancies and generally better health while aging, creates an interesting dilemma for corporate executives – added employee expense. Indeed, one study revealed that for each year the average retirement age rose, workforce costs jumped by 1.5%. People are simply working longer, not only because they’re healthier but often because the company doesn’t offer employees the financial tools which incent earlier retirement. Catch-22, perhaps? This interesting article by Marthin De Beer, appearing at ThinkAdvisor.com, argues that corporations should offer better employee retirement tools to facilitate earlier retirement, thus reducing overall workforce expenses. Click here to read more.