Companies can reduce labor costs and retain key talent for continued smooth operations by considering phased retirement, Deloitte recommends. And for workers, it protects their retirement income for a longer period of time.
The potential benefits for a business are even greater, Deloitte said. Phased retirement allows you to reduce your labor costs without undermining morale and productivity. Best of all, it lets you hold onto your most experienced workers so they can share their knowledge with others, and providesready source of talent for when the economy recovers.