Monday, December 04, 2006

Survey: Alabama Firms Not Prepared for Retirement

According to a survey of 348 Alabama employers conducted for the AARP, while 95% percent say it is no less than “very important” for their organization to retain skilled employees, only 11% report having taken actions to prepare for the retirement of baby boom workers.

The report--Alabama Survey of Employers’ Practices for Managing An Aging Workforce--found that in order to accommodate workers interested in working beyond normal retirement age, employers were were planning or considering: (1) enabling employees to ease into retirement by reducing their work schedules (49%); (2) hiring retired employees (47%); (3) providing part-time work arrangements without continuation of benefits (45%); and (4) upgrading training (43%).

Source: AARP Policy & Research Research Report (August 2006)

Other Sources: The Huntsville Times "Too few firms in state are planning for retirement" (December 3, 2006); The Montgomery Advertiser Survey: Firms not ready for boomers' exit (December 5, 2006); The Birmingham News "Baby boomers reaching point of mass retirement" (December 1, 2006)

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