Article

Designing Early Retirement Incentive Programs

Yujie Zhan

in The Oxford Handbook of Retirement

Published in print October 2012 | ISBN: 9780199746521
Published online November 2012 | | DOI: http://dx.doi.org/10.1093/oxfordhb/9780199746521.013.0143

Series: Oxford Library of Psychology

 Designing Early Retirement Incentive Programs

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As a result of the aging trend of the population, contemporary organizations are undergoing a major revolution in the age composition of their workforce. Offering early retirement incentive programs to a specific group of employees has been introduced as one way to downsize and restructure workforce composition for organizations. This chapter describes the nature of early retirement incentive programs from both employers’ and employees’ perspectives, specifically, why employers want to offer and why employees want to accept early retirement incentives. Then, this chapter details how to design an effective early retirement incentive program to satisfy the organization’s strategic goal in human resource management, taking consideration of who to offer, what to offer, and how to implement. Future research directions are discussed.

Keywords: early retirement incentive program; eligibility; content of early retirement incentive program; process of early retirement incentive program

Article.  7569 words. 

Subjects: Psychology ; Organizational Psychology ; Social Psychology

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