44% of organisations see an increased need to retain older employees

Organisations are also providing employees additional support around retirement options.

Companies in Hong Kong have turned to the elderly in response to the city’s talent crunch, a study by professional services firm, Aon plc, has found.

Based on the study, 44% of organisations saw an increased need to retain older employees, with some already planning to increase their set retirement age.

When asked why they plan to increase the company’s retirement age, the majority of the organisations (56%) cited the need to retain employees’ experience in their workforce.

With more planning to retain older workers, organisations are also moving to provide better benefits to their employees.

The survey found that 34% of employers provide employees with additional support around retirement options and financial well-being. 

In addition, 17% of employers demonstrate their appreciation to retiring employees by providing an ex gratia “golden handshake,” which can include a cash bonus, gold, gift coupons and celebratory meals.