New research, published today (Friday January 24), into the retirement options of middle-aged managers working in the oil and gas industry highlights the need for Government and companies to find ways to secure the continued contribution of key experienced, middle-aged workers.
The study, led by Professor Lorna McKee of the University of Aberdeen Business School, suggests that if early retirement options vanish, work itself may need to be restructured to harness the needs, aptitudes and talents of older workers.
Close analysis of the attitudes and experiences of male, middle class managers in their late 40s and 50s towards work, non-work and retirement shows that these older workers represent a highly work-centred, productive generation who have invested long hours and much creativity into their personal success. The researchers however found that such success often comes at a cost to these manager's family lives and health. The risks of burn-out, stress and disenchantment with work were all apparent.
Results also show that growing work pressures and a sense that the company environment was deteriorating has led to a drift into self-employment consultancy as these men grow older. Professor Lorna McKee, leader of the research team at the University of Aberdeen Business School said: "Taking early retirement has become a legitimate way out for some middle-aged managers and can lead to new freedoms and a reinvigorated working life. However, these men appear to be too fit to retire and too valuable to release. Imaginative and flexible options will be needed which allow their voices to be heard and for them to be involved in the re-design of their work."