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According to Statistics Canada, the majority of workers planning to retire would continue working longer if they could reduce their hours and stress levels. The number of retirees is increasing each year and placing pressure on labour market supply, which could potentially lead to a shortage of skilled workers. Increased labour force participation among aging workers would help alleviate the impacts on the workforce. More than half of workers planning to retire stated that they would continue to work part-time (55.1%) if the working arrangement was less stressful, physically demanding or they had the opportunity to conduct more interesting work (37.6%). Giving rise to the potential for organizations to develop incentives to retain experienced workers and offer flexible working arrangements.
For further information about the study, click here.
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