Retirements are not always well received in business

Retirements are not always well received in business

The end of the year is a good time for business deals, including those for retirement. But some managers don’t necessarily want to celebrate the end of the careers of their oldest employees, as a recent Indeed survey reveals.

In fact, 14% of managers believe that companies are not required to organize a farewell party for their retiring employees. Although this figure may not seem high, it is nevertheless equivalent to one in seven team leaders.

Some 15% of hierarchical superiors are not opposed to holding this celebration halfway between personal and professional life, but they believe that employers do not have to participate in its financing.

But fans of corporate drinks can rest assured: the majority of managers surveyed think that managers must organize retirement drinks and finance them at least in part (63%).

Whatever we think, retirement parties are a great classic of office life. They have tended to multiply in recent years, given that baby boomers, who represent a significant part of the workforce of most companies, are reaching the end of their careers.

Ageist prejudices

However, employers are not legally required to organize a party to celebrate the retirement of their oldest employees. However, these convivial moments are often appreciated because they promote team cohesion and allow employees to take a break from their daily professional lives.

But Indeed’s survey reveals that companies seem uncomfortable with the aging of their senior employees. More than one manager in two believes that retirements are difficult for companies to manage. In addition, 41% of team leaders go so far as to say that this gives an “old-fashioned image” to companies. It is interesting to note that this opinion is very widespread among men (45%) and those under 35 (51%).

Those mainly concerned are often aware that their colleagues and superiors do not necessarily have the heart to celebrate, with them, the end of this stage of their life. Two thirds of employees over 50 believe that their retirement will not represent a big loss for the company. This feeling is particularly expressed by women (72%) and public sector employees (73%).

*This survey was conducted by OpinionWay, on behalf of Indeed, among 529 current employees aged 50 or over and 500 supervisory employees with retirements in their team (past or future in short/medium term). The data was collected in July and August 2023, taking care to respect the quota method.