Salary.com’s Post

SHRM reports on the millions of unexpected retirements and their repercussions for employers. Not only will organizations likely have fewer employees due to higher numbers of retirees, but also they might not be able to plan for employees’ retirement. #hr #labormarket #compensation #economy #retirementwave

We observed this trend during and just after the pandemic in education and healthcare sectors and now, "millions more employees than expected are leaving the workplace in favor of retirement—a phenomenon that stands to have an outsized impact on employers." #retirement #workforceplanning #recruitment #retention https://lnkd.in/gKk96_QK

An Unanticipated Retirement Wave Is Happening Right Now in the U.S. Millions more employees than expected are leaving the workplace in favor of retirement—a phenomenon that stands to have an outsized impact on employers. The U.S. currently has roughly 2.7 million more retirees than predicted, Bloomberg reports, according to a model designed by an economist at the Federal Reserve Bank of St. Louis. That’s up 80 percent from six months ago, when there were roughly 1.5 million more retirees than anticipated. By contrast, prior to the pandemic, there often were fewer retirees than expected. https://buff.ly/3IdF589 #Retirement #SHRM #HR

Millions more employees than expected are leaving the workplace in favor of retirement—a phenomenon that stands to have an outsized impact on employers. The U.S. currently has roughly 2.7 million more retirees than predicted, Bloomberg reports. That’s up 80 percent from 6 months ago, when there were roughly 1.5 million more retirees than anticipated. By contrast, prior to the pandemic, there often were fewer retirees than expected. Are you ready to fill or do you have a succession plan to fill the gaps left by your retiring employees? https://lnkd.in/eQVjiRXM

Recent studies show a slight boost in employee and retiree confidence about retirement. While wage growth outpaces inflation, concerns linger about insufficient savings and rising costs. Enhancing retirement options is key to addressing these worries and boosting confidence. #retirement #retirementplanning #livewell #retirecomfortably

Prior to the pandemic, retirement rates were often lower than expected. Now, they're higher than expected. Are you facing questions about healthcare in retirement? Want to prepare in case you DO have a surge in retirees this year? Send me a message to learn how I can assist your organization. #retirement #hr #hrbenefits

Interesting article considering the volatile job market and the significant number of older employees severanced or laid off over the past three years that have had to turn to their 401k’s for funds to pay for short-term expenses to make ends meet, crippling their actual retirement goals.

Fewer US workers may be quitting their jobs, but more people are retiring than expected. Actually, a lot more. Read the fascinating details in this report from SHRM. #retirement #workplacetrends

Companies make sure your are being proactive and planning for people to retire. This isn't surprising to most HR professionals. I remember working for a company (a while back) that anticipated a huge wave of retirement with a 5-10 year period of time. They talked a good game about preparing but they really didn't and were surprised when people started walking out the door with critical valuable information. #hrstrategy #knowledgetransfer #dontbesurprised #workforceplanning

With employees retiring in record numbers, it's more important than ever for people to understand their Medicare options so they can make sound decisions for their future. #retirement #hrcommunity #retirementbenefits #SeniorBenefitsAndBeyond