Are IT Pros Kidding Themselves When It Comes To Retirement Age Expectations?

Jan 14, 2016

It seems as nobody wants to work, and that’s a real bummer. Everyone wants to retire early, but that’s a particularly important problem in the tech industry, as it is already lacking staff, and people leaving early will only cause even more trouble.

According to a new report by Randstad Technologies, almost half (49 per cent) of all tech workers want to retire before state pension age.

In other industries, that percentage is at 35.

A report by Ros Altmann, the Pensions Minister has some nasty predictions: by 2022, the number of people aged 50 to state pension will jump to 13.8 million, up from the current 3.7m. At the same time, the amount of workers 16-49 will drop by 700,000. Once these seniors leave, someone in the tech sector is going to get a headache.

The reasons behind such thinking are also interesting – apparently, 78 per cent of tech workers believe they will basically be obsolete when they reach certain age. The remaining 12 per cent are worried about age discrimination.

“The Tech industry is facing an expansive experience exodus. The early retirement of the baby-boomers generation could lead to a serious skill shortage in the sector,” said Ruth Jacobs, managing director of Randstad Technologies. “This generation helped build the technology sector in the 1980s with pioneers like Steve Jobs and Bill Gates leading the way. Companies need this experience if the sector is going to continue to expand. There’s already fierce fighting for talent as it is, and early retirements will make it even harder to find the right people for the right jobs.”

Author: Sead Fadilpašic
View the original article here.
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