Older workers’ retirement preparation and roles of corporation top leaders in South Korean workplace

Abstract

Purpose

This paper aims to explore how heads in South Korean workplace perceive the retirement preparation of older Korean workers and their roles in accordance with life design perspective.

Design/methodology/approach

Qualitative in-person interviews were conducted with top leaders of 15 corporations in small- and medium-sized enterprises (SMEs) and analyzed by using a conventional content analysis.

Findings

Top leaders in corporations consider that older Korean workers whose retirement preparation is their own responsibility have not been actively preparing for their postretirement life. Nevertheless, some of these heads are attempting to assist with career development or career transition. Some believe that older workers should work as long as they are capable and should be retained after the official retirement age.

Research limitations/implications

These exploratory findings are preliminary, and the top-down mechanism might work differently in a specific sector. Future research merits a large-scale investigation of each specific business.

Practical implications

It is implied that policy initiatives should support SMEs with subsidy programs for older workers’ employment, empowering longer working as healthy pathways to postretirement.

Originality/value

This pilot study indicates some degree of possible roles of top corporate leaders for workers’ retirement preparation in terms of career development and career transition and retainment of older workers.

Citation

Kim, E. (2023), "Older workers’ retirement preparation and roles of corporation top leaders in South Korean workplace", Working with Older People, Vol. 27 No. 1, pp. 59-68. https://doi.org/10.1108/WWOP-04-2022-0016