A new survey from Robert Half shows that 46% of the respondents have made changes to their retirement planning. Specifically, the respondents have decided to put off their retirement date because of the recent recession. The good news is that 30% of the respondents are now saving more for retirement. Here are some of the highlights from the survey I wanted to share with you.
About The Survey
First, the purpose of this survey was to gain insights into the various generation’s attitudes and opinions about the post recession work place. There were 1,453 working adults surveyed, equally divided among men and women. The generations surveyed were as follows:
Generation Y, born between 1979 – 1999
Generation X, born between 1965 – 1978
The Baby Boomers, born between 1946 – 1964
Key Highlights From The Survey
-The top 3 factors among all respondents were compensation, benefits and company stability.
-40% of all workers said they are more inclined to look for opportunities outside of their current firms.
-46% of respondents said they plan to work past the normal retirement age of 65.
-41% of the hiring managers from the poll said they believed employees are working smarter since the recession.
-54% of the baby boomer respondents plan to stay in the workforce past retirement age.
Bring Back The Benefits
The following are the cuts or reduced benefits/perks that employees want to see brought back when the economy improves:
1) Bonuses
2) 401(k) Matching Programs
3) Paid For Training And Education
4) Profit Sharing Plans
5) Employee Discounts
6) Free or Subsidized Snacks and Lunches
7) Subsidized Transportation
Most ImportantLesson Learned From the Recession, by Generation
Generation Y – “Focus on skills and knowledge development to increase your value to your company.
Generation X – “Don’t take your job for granted.”
Baby Boomers – “Stability is king.”
There is no no question the recession and especially the 2008 market meltdown have altered everyone’s expectations with regard to retirement and the workplace. I have learned not to take anything for granted. Also, that no one is as concerned about my retirement as me. In other words, if I don’t take responsibility and do my own retirement planning, I have no one else to blame but myself.
Please share how the recession has changed your plans for retirement or your perspective on the workplace.
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