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.
(Bendick, Brown & Wall, 1999). A new awareness of older workers has emerged as retiring
For my second recommendation, in order to help with the problem with business having trouble with keeping employees motivated to work for them for longer, businesses should reward employees with bonuses if they stay for x amount of year(s). This will keep employees motivated to continue working at their place of employment and decrease turnover.
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).
They have idealistic tendencies and are extremely willing to sacrifice personal time in order to achieve success in the workplace. Even though Baby Boomers are typically seen as micromanagers, they are good at building collaborative relationships with their coworkers and networking. Many Baby Boomers feel that their life’s purpose is to work hard, respect the chain of authority and hierarchy in the workplace. This is due to the fact that Baby Boomers were brought up in a work atmosphere where the chain of command was always respected (Kapoor, Solomon, 2011). Baby Boomers also work very hard for promotions and believe in sacrificing personal for the sake of being successful; they started the ‘workaholic’ trend and believe in paying their dues and step-by-step promotion that comes with age and time worked at a company. They also like teamwork, collaboration, group decision-making and believe in loyalty toward their employers (Tolbize, 2008). Baby Boomers tend to stay with one company for the duration of their professional life.
Motivation "in a particular job and the employee contribution behavior” is defined as the basic
Traditionally, the role of motivation in the work place has been tailored to the average worker. In a lot of motivational research, the common focus revolves around how to motivate employees to be the best and most productive version of themselves. As today’s workforce is becoming increasingly dominated by an aging population of workers, the image of the average worker changes. The average age of retirement is on the climb and as a result recent literature in Industrial/Organizational Psychology has begun to focus upon how to how effectively motivate the aging and elderly portion of the workforce. In addition, recent research has begun to focus on how to properly motivate employees to maintain an optimal level of performance as they age. The
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.
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
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.
Motivation is the process of getting someone to act on a particular situation. According to (Adelhardt, S, K. 2015, December 2) lack of motivation in the workplace is the most problematic subject for all managers, because it leads to decreasing productivity, performance and yet it increases the chances of employee resignation. Many employers suppose that managers these days are struggling to motivate their employees due to lack of significantly vital experience as well as knowledge in the employee engagement developing process. One of the successful strategies that managers can use to increase employee inspiration is by offering an attractive remuneration and benefits to their employees. Remuneration and benefits such as an extrinsic bonus
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...
Sometimes employers do not even give them a chance to show their qualifications because they are too old and need employers to pay them more wages than younger people. Research shows that being forced out of the workforce and into retirement via redundancy is more of a concern than a higher pension age, which is shown to have no adverse impact on population
Job satisfaction has been an important topic over the years (Akfopure, 2006). The association between man and labor has always concerned the attention of philosophers. Work plays a big factor in a man’s life. Work is social reality and social expectancy to which men seem to ratify. It provides status to the individual and at the same time it binds him to the society. An employee who is satisfied with his job would perform his duties well and be committed to his job, and subsequently to his organization. Thus, it is of greatest importance for employers to know the factors that can affect their employees’ job satisfaction level since it would affect the performance of the organization as well.
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'.