One in five baby boomers plan to never leave paid work, according to a new survey released today as part of National Psychology Week.
More than half of baby boomer respondents said enjoying work (56 per cent) and keeping an active mind (55 per cent) motivated them to stay in the workforce.
ncome rated as a lower motivation for remaining in paid work (46 per cent). Other factors included feeling valued (46 per cent) and social interactions in the workplace (43 per cent).
The Australian Psychological Society (APS) survey, undertaken with more than 1,500 people, was designed to better understand Australian attitudes towards ageing.
Baby boomers seem to be less driven by financial rewards and more by the stimulation and atisfaction they can gain from their jobs,” said APS president, Amanda Gordon.
The survey suggests this generation are really enjoying their work and feeling positive about emaining in the workforce. Employers should consider these key motivators when developing retention strategies for baby boomer staff,” said Ms Gordon.
When asked about leaving the paid workforce, baby boomer respondents said accessing good healthcare (56 per cent), maintaining independence (55 per cent) and upholding current living standards (49 per cent) were their main concerns.
Interestingly, although income was not an important motivator for remaining at work, 47 per cent of respondents expressed concerns about not having enough finances to retire with,” she said.
"Respondents weren’t overly concerned about becoming bored or maintaining friendships after retirement. This feedback is in line with the survey’s overall finding that Australians have a very positive attitude towards ageing,” said Ms Gordon.
To download the full research report visit www.psychologyweek.com.au
Notes to Editors:
APS referral service: The APS provides a free referral service for the general public, GPs and other health professionals who are seeking the advice and assistance of a qualified psychologist, online at www.psychology.org.au or call 1800 333 497.
About the survey: The APS survey was undertaken with 1507 participants nationwide in 2007. The survey aimed to explore attitudes towards ageing of the Australian population and whether these differed across age groups; public concerns about the ageing population; and the plans and expectations of baby boomers.