What strategy allows older employees to reduce their work hours to encourage retention and use of their experience?

Phased retirement is a strategy designed to help older employees transition out of the workforce gradually rather than abruptly retiring. This approach allows seasoned professionals to reduce their work hours over time while still retaining a connection to their workplace.

The benefit of phased retirement lies in its ability to harness the significant experience and institutional knowledge that older employees possess, ensuring that organizations are not losing valuable insights and skills all at once. By allowing these employees to maintain their roles on a part-time basis or with reduced responsibilities, companies can enhance retention and manage knowledge transfer more effectively.

Other strategies, while they may offer flexibility or alternative working conditions, do not specifically address the gradual transition of older employees into retirement. Flexible working hours may provide adaptability but do not inherently relate to retirement. Job sharing involves splitting one full-time position between two individuals and doesn't focus on the unique needs of older workers. Remote working can benefit employees by offering location flexibility but does not address retirement considerations directly.