Psychologists point to increasing age of retirement in Australia
A recent study conducted for National Psychology Week showed that more than half of baby boomer respondents said enjoying work (56%) and keeping an active mind (55%) motivated them to stay in the workforce. “In fact, one in five baby boomers plan to never leave paid work,” said Australian Psychological Society (APS) president, Amanda Gordon.
The APS survey, undertaken with more than 1,500 people, was designed to better understand Australian attitudes towards ageing.
“Baby boomers seem to be less driven by financial rewards and more by the stimulation and satisfaction they can gain from their jobs,” she said.
“The survey suggests this generation are really enjoying their work and feeling positive about remaining in the workforce. Employers should consider these key motivators when developing retention strategies for baby boomer staff,” said Ms Gordon.
Income rated as a lower motivation for remaining in paid work (46%). Other factors included feeling valued (46%) and social interactions in the workplace (43%).
“Interestingly, although income was not an important motivator for remaining at work, 47% of respondents expressed concerns about not having enough finances to retire with,” she said.
“Respondents weren’t overly concerned about becoming bored or maintaining friendships after retirement. This feedback is in line with the survey’s overall finding that Australians have a very positive attitude towards ageing,” said Ms Gordon.
