Canada has seven million workers on the cusp of retirement age. But just as concerning as the obvious brain drain and labour shortage this will cause our workforce is the fact that so few people seem willing to talk about it.

A new poll from RBC found that while most Canadians would like to work past age 65, they are nervous about initiating that conversation with their employer. To make matters worse, many say that when they do eventually get around to having the discussion, the chasm between employee and employer expectations runs deep and wide.

For example, 63 per cent of boomer employees surveyed said they would like to ease into retirement or stay employed beyond their retirement date; 50 per cent said they would be interested in part-time work during the transition. On the other hand, only 33 per cent of employers said they would be very likely to allow workers to stay past their hard-stop dates.

This gap in expectations is largely due to the lack of discussion about retirement in the workplace. Employers need to consider their own long-term talent needs, implement programs like intergenerational networking opportunities, accept personalized retirement solutions and change the perceptions and limitations put on older workers.

At the same time, employees need to prepare for retirement and be willing to speak up about the kind of transition they want to have.

Before having "the talk" at work, employees should develop their retirement road map, which means outlining action plans and timelines and then figuring out what you'll need to reach your destination. This road map will help communicate your intentions and what you need from your employer. That, in turn, will help make your conversation go more smoothly.

Here are some tips to help you - and your employer - prepare for the retirement you want:

Engage in retirement planning

If you love your work, it may be tempting to put off retirement planning until it is absolutely no longer avoidable. But there's no reason to fear it, if you broaden your understanding of what post-retirement life could be like. In this day and age, it can incorporate work just as it can be about travel and leisure. The most important thing is to visualize the kind of retirement you want by taking your passions into consideration.

Plan today for where you want to be tomorrow

Like retirement finances, if you wait until your 65th birthday to start planning the next phase of your career, it is already too late. While retirement is still a fair distance away, start working out details of the transition. Take stock of your skills and talents now and plan ways to fill any gaps in your resumé if you choose to go on to another job.

Be in good fiscal and physical health

In general, people who look after themselves and lead healthy, balanced lifestyles can look forward to a long and healthy retirement. This includes ensuring that you have a sound financial plan with adequate retirement income so that your stress levels are reduced.

Retire on time (if you can)

Research shows that workers who retire too early to escape an unpleasant work environment or stay too long to augment their income may end up feeling as though they have not met society's expectations. This, too, can be an emotional obstacle to fully enjoying retirement (fortunately, this feeling of being "out of sync" tends to self-adjust with time).

Ease into retirement status

People who set a retirement date and expect they will easily be able to turn off a 45-year career like a light switch may have a harder time making the transition. Others adjust better if they gradually get used to the change. You can start by cutting back by a day or two a week and letting yourself get more involved with friends, family and community outside of work; or stay involved with the workplace by taking on special projects or a consultant role.

Retirement is a significant life event. The notion of no longer having a fulfilling job, a sense of belonging and to some extent, an identity tied to the workplace is daunting for some people. The most valuable thing to remember is that retirement is a transition and, like any change, those who are well prepared and are willing to adapt will surely be able to enjoy the most out of life's next adventure.

-- With reporting by Barbara Chabai

John McFerran, PhD, F. CHRP, is founder and president of People First HR Services Ltd. For more information, visit www.peoplefirsthr.com.

RESEARCH:

http://www.benefitscanada.com/pension/governance/article.jsp?content=20100118_152743_5456

http://www.changerangers.com/archives/000029.php

http://www.working.com/ottawa/resources/story.html?id=39bbb9b6-0452-46e9-9d5a-85c2150b7c3c

Republished from the Winnipeg Free Press print edition April 24, 2010 I2