The motivation to continue working is receiving more and more scientific attention . Reasons for this include an increasing life expectancy and health of workers which allows them to keep working after retirement age. It is important for organizations to motivate employees to continue working because the changing demographics result in a declining workforce in western countries (OECD, 2005). Another related problem might be people who retire before the official retirement age as the workforce will dwindle even further. Decreasing workforce makes it harder for organizations to fill positions and harder for society to pay for social security. Building on this trend, this study focusses on what organizations can do to keep employees longer in their organization and how this mechanism works.
Recent work by Templer, Armstrong-Stassen and Cattaneo (2010) provided a framework that looks at antecedents of continuing to work after retirement. They found three main factors that affect the decision to continue working. The first and most important factor is the financial motive; evidence for this is well documented (Humphrey et al, 2003; Parkinson, 2002).The second factor mentioned by Templer et al.(2010) is work fulfillment. Both the studies by Humphrey et al (2003)and Parkinson (2002) indicated that the second most important reason to continue to work after retirement was work fulfillment. A third factor was also mentioned by Templer et al. (2010), generativity. Generativity deals with older worker transferring their knowledge and skills to (younger) co-workers. Research shows that transferring knowledge may be important to older workers (Mor-Barak, 1995). Therefore generativity may also be an important reason to continue to work after...
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...ople with low job satisfaction may want to retire (desire) but because it is not feasible do not have the intention to retire.
A more recent meta-analysis provides a more definite answer. They looked at 341 samples with a total of 188,222 participants and found that job satisfaction negatively related to the decision to retire This means that when people experience more job satisfaction, they will retire later. This is in line with the theoretical framework that is provided.
Therefore, based on the more positive wording of motivation to work as opposed retirement intentions (ie motivation to continue working), the predictions of the signaling theory and the social exchange theory and the empirical evidence. The second hypothesis is: H2. The positive relationship between HR commitment practices and motivation to continue to work is mediated by job satisfaction.
... Vandenberghe, C. (2004). Employee commitment and motivation: A conceptual analysis and integrative model. Journal of Applied Psychology, 89(6), 991-1007. doi:10.1037/0021-9010.89.6.991
(Bendick, Brown & Wall, 1999). A new awareness of older workers has emerged as retiring
While motivational and job satisfaction theories can help employers or leaders to gauge what motivates their employees, it is impossible for them to be used to explain all motivating factors. By analyzing these theories, it is possible to understand their basic concepts, and see how they can be an advantage in motivating their employees to the best possible outcome for the
There are extensive studies on retirement covering education in general. The findings suggest that education is an important factor in affecting retirement planning preparedness (Hogarth, 1985; Joo&Pauwels, 2002). Education enables individuals to explore more information relating to their retirement planning and that sources of information will influence their decisions, attitude and intention to do retirement planning (Hogarth, 1985; Joo&Pauwels, 2002). Also, DeVaney (1995) addressed that the effect of education level may serve as a motivator or guidance for individuals to start the preparation for retirement planning. With the increase in age and educational level, individual tends to be more motivated to work on retirement planning preparation or take some action for their retirement (DeVaney, 1995).
Motivation "in a particular job and the employee contribution behavior” is defined as the basic
Based off of the gratification an individual contains towards their work is job satisfaction. The productivity could either be positive or negative while the relationship between the productivity and satisfaction may not be consistent. There are multiple internal and external factors of job satisfaction that can impact the behavior of an employee and engagement over time. The way the worker’s attitude concerning their field effects the performance they perform on a daily basis. One who is satisfied with the job they maintain, succeed at what they do. “It is therefore imperative for a company to understand the attitude of its workers and measure the job satisfaction of its employees, as job satisfaction is essential for productivity” (L. Bradshaw
The current state of the workforce is that millennials are now entering the workplace in record numbers. This creates a dilemma because the Baby Boomers are not necessarily retiring at the given time. The baby Boomers is not concerned with retirement at age 65. In fact, age 85 is the new 65. The result is that 60-year-olds are working alongside 20-yearolds and because the difference in their formative experiences, this have led to generational misconceptions and have help to create tension and hostility within the workforce.
In recent years’ individuals and corporations noticed retirement age was becoming an issue. Individuals didn’t have the desire or possibly the financial support to be let go from their company at age sixty-five. Freedom fifty-five was becoming less of a reality and more of a nightmare for Canadians. In Dec, 2006 the Canadian government came to the conclusion to terminate a mandatory retirement age. “Before mandatory retirement rules were changed in Canada, an employer could go in and say ‘you’re over 65, Clean out your desk” (CBC News Business, 2009). Traditionally companies have focused on cutting costs and hiring new employees with new ideas however companies never valued experience, knowledge and relationships. “Today, people are living longer and have more active lives” (CBC News Business, 2009) individuals have the desire and need to work past sixty-five. The qualities the baby-boomer generation brings to organizations out weighs the costs of
Dwight D. Eisenhower once said, “Motivation is the art of getting people to do what you want them to do because they want to do it.” Studies have found that high employee motivation goes hand in hand with strong organizational performance and profits. Therefore, managers are given the responsibility of finding the right combination of motivational techniques and rewards to satisfy employees’ needs and encourage great work performance. This becomes a bit more challenging as employees’ needs change from one generation to another. Three of the biggest challenges a manager faces in motivating employees today are the economy and threats to job security, technological advances, and company cultures that primarily focus on the bottom line.
Steers, Richard M., Richard T. Mowday, and Debra L. Shapiro. "Introduction to Special Topic Forum: The Future of Work Motivation Theory." The Academy of Management Review 29.3 (2004): 379. Print.
In today's complex business environment; traditional approaches like monetary incentives are not the only prime motivators. In addition to expecting financial incentives for their performance, employee's expectations are much more. Appreciation, recognition and opportunities for personal growth; must be catered for to harness maximum productivity. Furthermore in an era where change is imperative for the organisation's survival, highly motivated employees, represent flexibility and show willing to change; a vital component for the success of any organisation.
December 2009). Researchers from various organizations unequivocally agree that managers can use an employee’s intrinsic motivation to gain the maximum output from that employee as well as support the employee in achieving his personal career goals as stated by (George N. Root III 2016). According to (Thomas, K) managers should help their employees understand self-management process that involves four steps to increase intrinsic motivation. Those steps may perhaps be nominated as a sense of meaninglessness, of choice, of competence and as a sense of progress. One of the successful strategies that managers can take into consideration is to clearly define strategic visions and goals set by an organisation. Moreover, by providing a broad vision of a company, managers demonstrate a warm sense of meaningless for an employee that makes him feel like there is an opportunity for him to accomplish something of real value, something that matters in the big picture as said by (Thomas, K 2009). In addition, Managers should make employees feel like their job is a choice, not a requirement in order to encourage employees to demonstrate intrinsic willingness to perform better. Nevertheless, some organisations emphasize that managers can experience numerous issues in increasing intrinsic motivation. For instance, an intrinsically motivated employee will only be able to do the particular task depending on “interesting, challenging, and has personal meaning based on the satisfaction they receive from performing the activity itself” (Giancola, 2014, p. 25). Essentially managers would face issues with increasing an employee’s performance when an extremely vital task has been assigned to the employee that has no interest in undertaking the given task. Although In my mind,
An important part of the retention of staff, reducing staff turnover and minimising absenteeism at work is ensuring that staff are properly motivated. This is not as easy as it sounds. At first glance, you might be tempted to think that merely increasing wages is the way to motivate! Not so. Most thinkers on the subject would argue that motivation is a far more complex issue than merely 'money'.
Keeping workers motivated in today workplace can be not just a job, but also an adventure. In many organizations this is a challenge because the workplace is made up of a diverse cultural environment. Managers are still the driving force for any business and the responsibility and demand to ac...
Lots of working people are scared when comes planning for their retirement day, as well as there are some of them are confident to face theirs restful years. This people who fear with their retired age are the person whose are lack of knowledge about financial matters so they will ignore their planning for retirement as long as they can. The effect is, they will try to continue to work as long as they can work. Recently, the Ministry of Human Resource’s Malaysia, increase the retirement age to 60 years old for government sectors. As Hunt (2009) state that Malaysian confident for their retirement have decrease rapidly in some way. According to Lai Cheng Tung & Jean Dennis Comeau (2012) the people who agree with the new retirement age as they claim that they required more retirement savings, increasing retirement age will increase the life expectancy, and this provide retention of talent or improving skill proficiency especially in expert job that need longer years of experience to master it. To support more agreeableness in increasing retirement age, based from Life Insurance Association of Malaysia (LIAM), 5% and less than that percent are prepared completely for their retirement (Habib, 2007). All of the statement showed that Malaysian are still good enough to continue working even most of them are lately around 60’s as a period for preparing themselves before retired.