Who Needs Retirement?
A new study shows retirees returning to work is no longer just a trend—it’s a permanent feature of the new employment environment. How are leaders and other workers reacting? Korn Ferry takes a look. Plus, check out the 2024 edition of the World’s Most Admired Companies, an annual collaboration between Korn Ferry and Fortune.
‘Unretiring’ to Work
For a growing number of older workers, retirement is turning out to be short-lived.
In what is no longer just a trend but rather a permanent feature of the new world of work, more people are “unretiring” and returning to the workforce. According to a new survey,?12% of retirees aged 62 to 85 ?plan to go back to work this year, while one-quarter have already done so.
Experts say unretiring is gaining momentum because it solves problems for both employees and employers.
The Era of AI Education
From CEOs on down to the mailroom, workers are fretting that artificial intelligence could put their firms out of business or make their jobs obsolete—unless they can grasp the requisite knowledge of how to properly “prompt” this 21st-century technology.
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But trying to educate anyone new to a field is no easy feat, especially if it’s a technology, like AI,? that seems to change every week. Critics worry about what people are really learning in these very pricey classes. And of course there are the economics behind them. AI classes are part of an executive-education industry that operates in the shadows of many great institutions yet accounts for enormous revenues. In 2022, executive classes at US schools brought in more than $42 billion, a figure that is expected to double by 2030.
The World's Most Admired Companies: How They Stack Up
The world’s most admired companies have built their reputations on their ability to grow into giants.
But in the latest edition of the annual World’s Most Admired Companies survey, it’s less empire building than stability that sets those firms apart. Of the nine attributes of reputation Korn Ferry uses to rank firms, “soundness of financial position” was the one executives cited most often as key to a firm’s status, edging out “quality of products” and “quality of management.”
Other Must-Reads from Korn Ferry
Check out?Briefings , our bimonthly national magazine, for in-depth and unusual looks at critical leadership issues.
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9 个月It's becoming increasingly common to see retirees re-entering the workforce, underscoring evolving trends in employment. However, retirement isn't financially feasible for everyone. Therefore, while some retirees may choose to resume working, it's essential to acknowledge that retirement isn't an option for all.
Former Senior Executive, now retired. Writing, fishing, Tying flies and generally living my best life.
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Experienced Group CEO | Group CCO | Interim | Consultant | Exec and Non-Executive Director : Driving successful sustainable growth.
9 个月Interesting articles and I can see opportunities for older people returning but also a need for businesses to adapt to turn this into a positive reward for improving productivity and knowledge transfer.