How to Recognize and Support Your Employees When They Retire?

written by Houke de Kwant on May 21, 2022

The face of the modern workforce is evolving. Baby boomers are retiring and Gen-Z is adapting to the latest trends and innovations in technology. While you are busy recruiting a new workforce and implementing new regulations in your workplace, it’s important to take some time to value and support the employees that have served your company for years.

This is important not only because they deserve this appreciation, but also because recognizing your former employees will also have a positive impact on your current workforce. Your new recruits will be more likely to stick around for years to come if they see that your company offers a positive workplace culture, such as when employees retire.

Here are a few effective ways you can recognize and support your employees when they retire.

Hold an Employee Recognition Ceremony

Your retiring employees deserve to be honored for their service to your company. Value their years of productivity, hard work, and dedication by holding a recognition ceremony. Show them how much you appreciate their efforts and their passion. This will be a wonderful opportunity to show your support to your retiring employees.

Organize a farewell do and invite the new recruits along with your entire staff, investors, business associates, and shareholders. Introduce your retiring workers to each member of your company and personalize the event to the guest of honor.

Give them a Gift They Will Remember for Years

Award your retiring employees with a personalized title. It doesn’t have to be anything fancy, but something that matches their skills or the jobs they have done so far. For example, you can award them with the title “most dedicated employee”. You can also organise retirement plaques, scrapbooks, or team videos.

There are plenty of creative gift ideas you can give to your retiring employees. Gift them something that will remind them of the time and effort they invested in your business, or how they made life-long friends and achieved personal and professional growth. This acknowledgment will also act as a reminder for your new recruits that employee dedication will never go unnoticed.

Assign them a New Employee

Nothing could make a retiring employee feel more valued than the role as a mentor. Ask them to share their wisdom with a new recruit. They will be honored to mentor a new employee. Not only is this a great way to show your respect for them, but it can benefit your organization in many ways.

First of all, your retiring employee has probably worked for your business for a great many years. They know the ins and outs of your company, the operations, marketing, sales, and just about everything else. Therefore, they’ll pass these valuable insights on to your new employees. Furthermore, they have built a good relationship with your customers and business associates, they will be able to help your new recruits understand your business on a deeper level.

Offer Emotional Support

Employees puts their heart and soul into your business year after year. Now that they are retiring, they need emotional support to make a smooth transition. As an employer, it is your responsibility to make this big change as easy as possible.

Ask if they need any financial help for retirement. You don’t have to deposit thousands of dollars in their bank accounts to show your support. Small steps like ordering moving boxes so they can pack their stuff or helping them with packing can mean a lot.

Offer Flexible Work Alternatives

The baby boomer generation might not be familiar with the latest technology, but if they have been working for your company for decades, they know your business operations than anyone. The best gift you can give a retiree is an alternative employment opportunity. Let them work part-time for your business or keep a flexible work schedule, if they’d like to.

It will give them the opportunity to keep working at stay connected to your company. Some employees may want to retire entirely, but they may prefer to keep themselves occupied with some part-time work that could help them to continue to generate a few bucks on a regular basis.

Be Available

Your employees were available for you when you needed them. Now, it is your time to be available for them and be supportive. Let them know that you are available for them whenever they need emotional or financial help. Make them feel valued. They should feel free to contact you anytime they need to.

Your relationship with an employee shouldn’t end with their retirement. In fact, you should do everything in your power to make this transition as smooth and easy for them as possible. Retirement can be a challenging time, and your employees need emotional support. Bid them a farewell they deserve and give them what they need.