1. Implementing an Initiative .
Phased Retirement
Implementing an Initiative .
My name is Lisa Poelle. During this session, I will be introducing you to the topic of FWA’s and we‘ll be talking about the ground rules and guidelines for implementation of this type of business tool here at Time Warner.
Why is TW involved in this? How do we know it really works? How would it work for me or the people on my team? Those may be some of the questions you came in with today. Over the course of the next hour and a half, we’ll discuss these issues in detail and then provide you with materials in case you should choose to apply.
And, as they say in the theatre, now would be a good time to check that all of your electronic devices are turned off so we don’t experience any interruptions or distractions.

2. Implementing Phased Retirement: Definition and Key Elements
It is: Graduated reduction to less than full-time status
It requires: A design process to shape the offering:
Determine value to employer, pre-retiree interest
Test and set eligibility criteria
Scan and modify pension, benefit and comp issues
Determine shape of offer: mutual gain guides
Determine “flexibility” of flexible options
Use tools: request, work design, knowledge transfer
Gauge training needs. deliver
© Respectful Exits 2018

3. Implementing Phased Retirement: Potential Value
Done well, Phased Retirement can deliver:
Longer retention of “regretted leavers”
Capture of unique, hard-to-replace knowledge
Transfer of such knowledge across platforms
Facilitation of succession processes
Focus of pre-retirees on higher value work
Reduction in payroll costs
Enhanced mentoring, development efforts
Improved employee appreciation and morale
© Respectful Exits 2018

4. Implementing Phased Retirement: Potential Value
Employees on Phased Retirement may see:
Ability to extend work life, income
Chance to continue building retirement funds
Opportunity to share accumulated knowledge
Potential to mentor and develop younger employees
Occasion to strengthen collaboration skills
Choice to moderate pace, ease into retirement
Means to avoid health risk due to abrupt retirement
© Respectful Exits 2018

5. Implementing Phased Retirement: The Minefield of Common Myths
 Among the refutable myths people hold are:
Elders are clogging up the pipeline for millennials.
You can’t teach an old dog new tech tricks.
The longer people work, the more expensive they become.
Flexible and phased retirement are too risky and difficult to do.
401-Ks, pensions and Social Security enable adequate retirements.
Employees and government are responsible for solving these problems.
AARP and other senior groups are already taking care of this.
(See our presentation: “7 Myths and Realities about Aging Workers”)
© Respectful Exits 2018

6. Implementing Phased Retirement: The Actual Challenges Employers Must Face
Fear of discrimination. Concern that creating different exit options may lead to dissatisfaction and, potentially, lawsuits
Benefit barriers. The worry that pension restrictions and other complexities cannot be overcome, despite major pension changes
“Part-time” = reduced value. A common belief that reduced schedules mean a loss in contribution, especially as employees age
Manager overload. Assumption that many managers lack skill and judgment to make sensitive decisions and manage the outcomes
Fragile knowledge sharing. The potential transfer of unique knowledge is easy to claim, but has often failed in practice
Employee hesitation. Employees may be reluctant to risk proposals, especially if there is not a robust history of flexibility
© Respectful Exits 2018

7. Implementing Phased Retirement: Applying Our Proven Solutions
Issues to consider include:
Research: Find value to employer, pre-retiree interest
Eligibility: Age, length of service, key knowledge
Infrastructure: Align pension, benefit and comp policy
Options: Phased, partial, time limitations
Process: Manager-initiated or employee proposal
Tools: Proposal, work redesign, knowledge transfer
Mentoring: Clarify goals, participants, metrics
Training: Assure adequate skill development
© Respectful Exits 2018