Staying Empowered in Retirement
Retirement represents a significant juncture in an employee's life, marking the departure from the familiar workplace routines. Frequently, retirees grapple with a sense of uncertainty as they approach this phase of life. Retirees often grapple with a sense of emptiness as their life's purpose, once found in work, fades away. The loss of power and responsibility in retirement can trigger post-power syndrome, potentially leading to depression.
Moreover, financial constraints post-retirement can further impact their mental well-being. Financial constraints post-retirement can exacerbate mental health issues, sometimes creating a sandwich-generation situation. However, sandwich generation often creates new problems. For example, data in 2022 from Policygenius shows that 29% of the American sandwich generation struggles to support their children and elderly parents. Therefore, adequate preparation for retirement becomes imperative.
As a company that prioritizes the well-being of its employees, BMJ has instituted a comprehensive retirement preparedness program. Identifying those employees with over 25 years of service who are set to retire within the next two years, we enroll them in the BMJ Retirement Preparation Program. This initiative is designed to prepare retiring employees with essential skills to manage their emotions and adaptations, facilitating the adjustment to a transformed daily routine devoid of work obligations.
Moreover, our employees receive guidance on transitioning from a regular income to an irregular one post-retirement. Financial management is a core component of our training program, effectively utilizing retirement benefits. In addition, we provide support from the moment they receive their allowances until they decide to embark on entrepreneurial endeavors.
It is essential to note that our internal experts do not solely conduct these training sessions; we also collaborate with external specialists in various fields. This comprehensive approach empowers retirees with diverse business options to explore in their post-employment phase. These multifaceted training initiatives stand as a testament to our deep appreciation for the dedication of our employees who have faithfully served BMJ.
We aim to offer the utmost support to our employees, ensuring their well-being and successful transition into retirement until their final day at BMJ.