Keeping One Foot in the Door

Consulting Appealing Prospect for Executives, Survey

Executives nearing retirement will be seeking a more gradual
bridge to their golden years. A new survey suggests many will be going into
business for themselves. Three out of four (75%) chief financial officers (CFOs)
interviewed said they view consulting as an attractive segue into retirement.

The survey was developed by Robert Half International and conducted by an
independent research firm. It was based on telephone interviews with more than
1,400 CFOs across the United States.

CFOs were asked, "How attractive would you find the prospect of consulting
when you approach retirement?" Their responses:

Very attractive
Somewhat attractive
Not attractive at all
Don’t know/refused

CFOs also were asked to identify the greatest benefits of consulting as one
approaches retirement. The advantages most commonly cited were remaining in the
workforce but working fewer hours (noted by 47% of respondents), earning money
to supplement retirement (38%) and gaining experience working for a variety of
firms (11%).

"Many professionals would prefer a measured transition to retirement, and
consulting affords them the opportunity," said Paul McDonald, executive director
of Robert Half Management Resources. "Consulting enables experienced
professionals to maintain many of the benefits of work, including challenging
assignments, competitive compensation and intellectual stimulation, while still
allowing time to pursue personal interests."

Companies stand to benefit from using experienced professionals as
consultants, noted McDonald. "By allowing those nearing retirement to take on
mentoring roles, firms can ensure these workers’ expertise and knowledge are
retained and passed on to other employees in the organization."

Source: Robert Half International

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