Slow retirement – Idea HR should explore.

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In India, HR has stuck in two way of working. All companies want its employee to give minimum 45 hours in office or person should retire at 58. It is legality. On other hand, demand is increasing for flexihours or flexi age. Some HR preaches working from anywhere or anytime and still not willing to give up 45 hours per week commitment in office.

New age talent wants flexible working. New blood means new ideas. Companies can’t survive without fitting these people. Old companies with rigid structures or work hours are slowly dying. They are good for transactional work but can’t compete in current fast running business environments.

In this blog of slow retirement , I want to question this 58 yrs of retirement age. HR should question when the person can retire. Most companies use easy path to get person retire at 58. I suggest it should be tapering of time and salary after the age of 52-53 or so. Reduce 10% salary and 10% time in office every year. That way the person can work till 62-63 years or till the time he feels comfortable with devoted time and given money.

Slow retirement may help both organization as well as the employee. Employee will get balance of work –life and employer will get the requirement skill at minimum cost. Experience is valuable to take company out of the recurring recession or technology change. Slow change will be easy for the person to get adjusted to new reality. With growing average age, person needs space and time for his ideas to get more productive life.

Don’t know if companies are allowed to do this liberty on legal terms. It will help the younger generation to take bigger risk in absence of road blocks.

What is your suggestion ?