Survey Suggests Many Executives Rethinking Retirement
MENLO PARK, Calif., Feb. 21, 2013 -- Some executives dreaming of their golden years are unsure when those years will actually start. Nearly four in 10 (38 percent) chief financial officers (CFOs) interviewed for a Robert Half Management Resources survey said they are more uncertain about when they're going to retire than they were five years ago. Another 13 percent stated their expected retirement plans have changed compared to five years ago.
The survey was developed by Robert Half Management Resources, the world's premier provider of senior-level finance, accounting and business systems professionals on a project and interim basis. It was conducted by an independent research firm and is based on interviews with more than 1,400 CFOs across the United States.
CFOs were asked, "How, if at all, have your retirement plans changed in the last five years?" Their responses:
|Retirement plans unchanged||49%|
|I am more uncertain and cannot predict when I will retire||38%|
|I plan to spend more time working than I did five years ago||7%|
|I plan to spend fewer years working than I had intended five years ago||6%|
"Economic trends and personal demands are causing many executives to re-examine their retirement plans," said Paul McDonald, Robert Half senior executive director. "A growing number of professionals nearing the traditional retirement age are exploring project and part-time work so they can continue their careers, while gaining the flexibility to gradually transition into retirement."
McDonald added, "Employers can accommodate seasoned employees who want to ease into retirement by enhancing succession planning efforts and offering consulting opportunities. This allows firms to retain legacy expertise and transfer knowledge from departing executives to future company leaders."
About the Survey
The national study was developed by Robert Half Management Resources. It was conducted by an independent research firm and is based on more than 1,400 telephone interviews with CFOs from a random sample of U.S. companies with 20 or more employees. For the study to be statistically representative and ensure that companies from all segments are represented, the sample was stratified by geographic region and number of employees. The results were then weighted to reflect the proper proportion of employees within each region.
About Robert Half Management Resources
Robert Half Management Resources is the premier provider of senior-level finance, accounting and business systems professionals to supplement companies' project and interim staffing needs. The company has more than 150 locations worldwide and offers online job search services at roberthalfmr.com. Follow Robert Half Management Resources at twitter.com/roberthalfmr for workplace news.