I’m I too young to think about retirement?: The relationship between human resources management practices, work ability and retirement intentions

Abstract

The intended age at which employees plan to retire is critical for organizations as retirement leads to the loss of critical knowledge and expertise that is not replaceable due to its tacit nature. Consequentially, organizations endeavour to create conditions to retain valuable workers, especially those who have attained such a high level of proficiency and productivity that they add value to the overall operations. However, not all factors that explain the intended age for retirement are under the control of organizations (Truxillo, Cadiz, Rineer, Zaniboni, & Fraccaroli, 2012). The expected quality of retirement life (quality of living, financial stability) is one that is out of reach. However, work ability (physical and mental ability to cope with daily work) might be related with organizational practices, as organizations can change job content to accommodate age needs (Kooij et al., 2013; Schalk et al., 2010; Truxillo, Cadiz, & Hammer, 2015). This is within the capacity of managers, as organizations can deploy a HRM policy that is age related, that is, high potential work practices (HPWP) with an age focus. Examples are recognition-participation, job flexibility, and job reallocation regarding ageing capabilities.