Article2013

Do retirement anxieties determine bridge employment preference?

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Retirement, Disability, and Employment Financial Literacy, Pension, Retirement Analysis Human Resource and Talent Management

Abstract

Purpose The purpose of this paper is to explore the extent to which perceived financial preparedness, social retirement anxieties, and level of income influence mature aged workers' preferences to enter different retirement employment options within the contingent and the flexible work arrangements (FWA) types of bridge employment. Design/methodology/approach Data for this study was collected in 2008 using a questionnaire with 31 items. A total of 144 mature aged workers from multiple firms, aged 50 years and over, working full‐time, in the construction industry participated in the study. The collected data was analysed using correlation and regression analyses. Findings The results indicate that the study variables have positive and negative influences on pre‐retirees' preference for the retirement employment options within the contingent and the FWA bridge employment. It was also found that while income failed to moderate, social retirement anxieties did significantly moderate the relationship between perceived financial preparedness and the different employment options within the contingent bridge employment. Practical implications This study clearly provides practitioners and career counsellors a new insight that the work and non‐work predictors for the retirement employment options within each of the contingent and the FWA bridge employments vary between factors of perceived financial preparedness, social retirement anxieties and level of income. Originality/value In contradiction to the existing literature that “comfortable” social retirement adjustment as a determinant for bridge employment, this study's findings revealed that if pre‐retirees perceive that they are not adequately financially prepared for retirement, they would opt for bridge employment irrespective of levels of social retirement anxieties.

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References

1998Successful Aging 1997Successful Aging 2007The Predictive Validity of Multiple-Item versus Single-Item Measures of the Same Constructs 2002The C-OAR-SE procedure for scale development in marketing 1989A Continuity Theory of Normal Aging 2009Employee Retirement: A Review and Recommendations for Future Investigation 2001Role Transitions in Organizational Life: An Identity-Based PerspectiveRole Transitions in Organizational Life: An Identity-Based Perspective, by AshforthBlake E.. Mahwah, NJ: Lawrence Erlbaum Associates, 2001.2000WORKING IN RETIREMENT: THE ANTECEDENTS OF BRIDGE EMPLOYMENT AND ITS CONSEQUENCES FOR QUALITY OF LIFE IN RETIREMENT.

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2015Job Attitudes Are Differentially Associated With Bridge Employment and Phased Retirement Among Older Australian Employees 2023Withdrawing from job search: The effect of age discrimination on occupational future time perspective, career exploration, and retirement intentions 2019Bridge employment and full retirement intentions: the role of person-environment fit 2017Assessing the Process of Retirement: a Cross-Cultural Review of Available Measures

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