Are you planning to retire or “rewire”?
Giving up full-time or other paid work – the seemingly final act in an active working life – used to be openly referred to as ‘retirement’. But in my experience, as I discuss in my latest editorial in NZ Management Magazine, fewer colleagues these days seem comfortable talking about retirement.
Why? It may be because they are reluctant to call time on their paid career, which hopefully has brought professional satisfaction as well as social interaction and routine. There may also be financial concerns about turning off a, if not the, major income tap.
Is there a viable alternative? Turns out, there could well be.
The term ‘rewirement’ is understood as “a proactive and intentional approach to transitioning from one life phase to another, often after a long career, rather than simply retiring”.
Writing in Forbes.com, one senior leader described it as “the process of adjusting a part of your life on a mental and physical level to better reflect your current needs and desires”.
Here in Aotearoa New Zealand, there is no official retirement age – and it is a fallacy to assume someone will necessarily (wish to) retire at the age of 65 when superannuation and some other pension payments kick in.
But that doesn’t make it any less challenging – for individuals and organisations – to navigate the transition away from full-time work.
It does, however, highlight the need for open, honest communication about how people might make changes to their work routines.
I examine various scenarios and explore different ways of approaching, enacting and embedding the move toward retirement or rewirement – for employees and employers alike.
Read the original editorial in NZ Management Magazine: Retirement or Rewirement? A challenge or opportunity for employees and organisations?