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Well what do they have people -- top spot and they're losing their jobs are leaving but said retirement be a quick.
Or gradual access some answers might surprise you joining us to discuss.
Phased retirement is Jamie -- workforce planning practice leader for towers Watson.
Didn't regret you being here what are you seeing in terms of this trend in corporate America.
Well we're saying right now that the companies that have significant.
Of engineers which are going to be very hard to find in the future.
And they have an aging population.
That they are planning for that now and thinking about phased retirement programs.
In planning for the future firm plan.
The big wave of retirement that is going to -- which.
Is not going to be in the immediate term and we're looking -- towers Watson research indicates that it's probably going to be.
In the next you know anywhere two to three to four years.
But they want to be in a position where they've got plans in place to be able to retain some of these critical workers that have.
Knowledge sets and experiences.
That they can't afford to lose all -- once.
There's several you know definitions of phased retirement it can be anything from.
Where an employee goes part time which is probably the most common approach to it phased retirement back.
We're also saying a practice where people have been a management roles and they don't want to continue with the hassle of being in a management role.
And so there you know staying on that in a reduce capacity where they're contributing -- key projects to.
Introduce new products and those types of things -- employers can still take advantage of their.
There wasn't as many people's retirement has been hit over the last decade I'm sure more people are looking to work longer what kinds of companies are offering.
Well the types of organizations that are offering our what I mentioned earlier those that have.
Disciplines that are very hard to replace particularly in engineering disciplines.
So it's it's those organizations also that have not had.
High amounts of turnover which tend to be in any industry sectors like aerospace and defense.
And utilities and those types of organizations where they need to retain these.
Workers because they can't replace them immediately.
One last thing -- -- quake is just the notion of retiring at 65.
In today's world just plain nuts.
Given how much longer we're living.
Well there's I think there's a couple of factors that hand in terms of when people are going to retire.
The you know part of it is just it's really -- to Q ends of the spectrum here that are going toward the same thing and that is that.
People do expect to live longer and because they expect to live longer they know they need more financial resources so.
Those two people what -- those two components working together.
Are delaying retirement and we're liking our research shows probably a delay pay anywhere from three to five years.
Jamie good to see you have a great weekend Jamie -- workforce planning practice later for talent.
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