CHINA: Retire old-fashioned retirement and do not hang up your spurs

SHANGHAI, China (Shanghai Daily), July 5, 2008: Chinese Perspectives By Wu Jiayin A LOT of people are afraid of retirement since they regard themselves as defined by their jobs and fear they may lose their identity when they no longer work. If so, one alternative is to remain in the workforce after retirement age. Nowadays, there is little need for many people to worry about losing their jobs as they age, as Tarama Erickson writes in her book "Retire Retirement." "Over the next several decades the growth in demand for workers in most industrial countries will almost certainly outstrip the growth rate in workers within the conventional age band," she noted. That is to say, as long as one has the skills or experience that companies require today, the chances of remaining employed into their 60s, 70s or above are high. Sometimes old age is even an advantage in getting a job. An example from Denmark is illustrative: Danish retailer Netto set up three "oldie" supermarkets where at least half the staff was over 50, and found absenteeism went down and customer satisfaction went up. In Japan, most staff who collect expressway tolls are middle-aged men or above, some even white-haired. They're not just employed for their work ethic, but more important, they are usually the father or grandfather in a family who no longer needs to worry about the birth of an unhealthy child. Male and female toll takers both inhale toxic fumes. This is especially harmful to women of childbearing age. Given this reality - there is work out there - the key question is how to develop a plan to help those approaching retirement stay contentedly employed in the next 30 years or so. That's the value of the book. As people today have many more exciting life choices after retirement than previous generations, Erickson suggests you start with a systematic method for sorting this abundance of options and setting your personal priorities. Consider five factors: how much time you want to devote to work, how you want to structure it, how much money you need to earn, how you will keep work interesting and whether you want to take on responsibility. Then determine the activities that engage you most fully and feel most satisfying by viewing the job content, the compensation, the way you wish to interact with your employer and your core values as well as your organization's. If you enjoy your current job and do not want to leave it, Erickson advises renegotiating with your boss the terms of employment after retirement. She lists several options and suggests flextime schedules and other nontraditional work arrangements such as payment by the task rather than the hours - often more suitable for an older worker. In fact, rather than being confined to a previous job, one has a lot more choices, including new adventures. Bill Gates is a case in point. On this June 27, Gates retired from full-time work at Microsoft which he founded 33 years ago. It is now the world's largest software company. He now intends to devote the rest of his time to the Bill and Melinda Gates Foundation, the wealthiest charity in the world, which is aimed at improving healthcare around the world and reducing extreme poverty. Having culminated his career as an Internet technology icon, Gates is now starting his new career as a philanthropist. With a clear vision of his future, he will probably find his next 30 years or so to be exciting and engaging. Such an approach - reinventing oneself in new careers - is another strategy that Erickson recommends. "Even if you don't have the necessary skills today, with 30 more years ahead, you have plenty of time to go to medical or nursing school, if that's what you've always dreamed of doing." Erickson is somewhat overconfident in suggesting a buffet of potential career-extension options at a time when even many middle-aged people are still troubled by unemployment. Yet her ideas are worth considering if you're a professional, executive or successful entrepreneur who is approaching retirement age. Copyright © 2001-2008 Shanghai Daily Publishing House