‘Giving people more control’: Rise in flexible working is enabling older workers to defer retirement

By Jessica Davies

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For many, one silver lining of the pandemic has been the shift towards working from home, putting an end to the daily trauma of traffic jams, long drives and packed (and often delayed) trains. Suddenly workers can reclaim a couple of hours of their day while enjoying greater productivity.

The change has made some retirement-age workers put off hanging up their gloves.

An Office of National Statistics U.K. survey in June/July 2020 found that 11% of people older than 50 who were working entirely from home planned to retire later than they previously intended, compared with 5% of those who still had to go into the office throughout the pandemic. The ONS also found that one-third of workers aged between 50 and 69 who worked from home in April and May 2021 reported higher well-being, a better work-life balance, fewer distractions and faster work completion times as a result.

It is a similar picture in the U.S. In January, Bloomberg reported that the pandemic is extending the trend of older Americans working for longer, with many citing the ability to ditch their long commutes as the motivator. Roughly one in five adults aged 65 and older remain in work, according to the Bureau of Labor Statistics, compared to closer to one in 10 in the 1980s.

“Giving people more control over their time is the essence of work from home decisions,” said Peter Cappelli, professor of management and director of the Center for Human Resources at the Wharton School, University of Pennsylvania. “Trying to get more of that is why many people retire. But most want to keep working in some way.”

Enforced working from home has opened many people’s eyes to the potential for flexible working, and for many older people it has offered them a way to continue working longer. “There are some people who stop work because their health makes it difficult for them to commute and deal with the office environment,” said Sarah Coles, personal finance analyst at U.K. investment service, Hargreaves Lansdown. “Meanwhile, others just decide they don’t want to spend a big chunk of every day on the train anymore. Working from home gives them the opportunity to continue working without having to worry about any of this.”

Staying in work for longer can have multiple benefits beyond income, giving people a sense of meaning and purpose and providing social connections. Louise Ansari, director of communications, influence and evidence at U.K. charitable foundation, Centre for Ageing Better said “Our research has found that older workers particularly appreciate work that is sociable, intellectually stimulating and flexible — and that being in fulfilling work can promote self-esteem and confidence, especially when employers are age-inclusive.”

Flexible working also enables a smoother transition from working full-time to retirement, allowing people to adapt to the change rather than falling …read more

Source:: Digiday