own business or involve fulltime in an already existing one, venture into the entertainment world. Whileretirement of a sports person is driven by factors likeage, inability to take stress of sports after an age, and ispurely driven by inability to consistently show form inplaying, the phasing out of a professional is quick andabrupt driven by the age factor of retirement. The growthof knowledge professionals has created a differentperspective to this outlook. Is a healthy professor (may be one of the best) not suitable to teach just as hereaches the age of 60? Is a great scientist no longer ableto contribute to an institution or nation after the age of 65? Or simply put, is a competent HR professional nolonger required in his profession?
Exploring the scenario
The current generation that is going to retire at the age
hat would a Sachin Tendulkar or aDavid Beckham do after retiring from a sports career? Options aremany. They will be a coach, aselector, do commentary, start their
What are the challenges and opportunities for organizations to have productive associations with retiring professionals, what are the possible options for retiring professionals,and what does the future hold?
oneself, one's family and social activities. Many chooseto do this and look forward to the same, while sacrificing professional competence.On the other hand, studies in the west show that asmany as 70% people would like to continue in someprofession or another to keep them busy. Many even wish that their regular job continues. In an Indian urbancontext, this can also be a bigger challenge with thenuclear families setting in and difficulty to connectregularly with near and dear ones. The opportunity andchallenge here is the scope of re-engaging in any formof professional engagement.Many options exist for a professional afterretirement. However, a lot depends on the preparationsthat enable the transition and life attitude andperceptions. Psychologically, retirement is one phase inthe occupation, which would lead either to personalsatisfaction and self fulfillment with contribution toorganization, society, family and self or jobdiscontentment, sense of low self worth, and negativeoutlook to organization and society. This ultimately leadsto positive or negative orientation to life. Either way it
of 60 would have joined the work force during the early 70s. We set policies of employment based onconsiderations of creating jobs, job security, andopportunities for young people. Also imagine themanagement scenario. People just got promoted by years of service. No words like succession planning andcareer management had many takers or need. Publicsector dominated the scene as well. However, as a wholeit created a great set of people who were ready to expandthe horizon with the opening up of the economy,information revolution, and increased need of professionals. Many of them rechristened quickly tothe new roles. A new challenge arises as these professionals reachthe retirement age. Early management professionals,seasoned leaders, academicians, and many moreprofessional experts who have seen the times of theLicense Raj, as well as new age industries are suddenly facing the challenge of finding avenues for channelizing their talent to productive purposes.
Managing the transition
A retirement has many more dimensions rather justcessation of a regular job. Quite clearly, for an individualthis is the time of quick change, especially for those who are at the peak of their careers and power status. Itis a time of confusion, uncertainty, and definitely planning. One of the choices is to pursue purely life-related aspects and have an understanding of moving away from the professional realm. This entails time for
By Prof K Kunhikrishnan & Dr. Sandeep K. Krishnan