[Work Life Handbook] "How Can I Keep Working Until Retirement?"

'Long and Steady Until Retirement' Over High Salary or Promotion
Expert: "Gain Recognition for Job Expertise... Manage Reputation"

As the average lifespan increases and we enter the "100-year era," many office workers dream of retirement at the official retirement age as a goal. Rather than high salaries or promotions, the idea of "working steadily and long-term" is considered the best. They hope for a kind of lifelong job, joining a company in their 20s or 30s and retiring at the age of 60. However, the reality is not so easy.

[Image source=Yonhap News]

A survey shows that only 3 out of 10 Seoul residents in their 40s currently employed expect to work until retirement age. According to the Seoul 50 Plus Foundation on the 13th, the foundation surveyed 1,189 wage and non-wage workers aged 40 to 49 living in Seoul about their "current job outlook," and 402 people (33.8%) responded that they are confident they can work at their current job until retirement age.

Only 69 people (5.8%) said they could work as long as they want regardless of retirement age, and even combined, the total did not reach 40%. 403 people (33.9%) said they want to work until retirement age but are not confident they can stay that long. The expected period to work at the current job was most commonly 10 years or more (34.0%), followed by 5 to less than 10 years (28.1%), 2 to less than 5 years (22.7%), 1 to less than 2 years (10.3%), and less than 1 year (4.9%).

A sales employee in his late 40s working at a company in the metropolitan area said, "The era of lifelong employment is probably over. Society is changing too fast. Those who prepare well will stay longer, but those who don't will find it hard to keep their positions."

Another office worker shared a similar view. A 30-something employee who recently changed jobs said, "I decided to change jobs based on my career future," emphasizing, "Rather than doing what I want, finding a job I can do for a long time seems better in the long run."

So, when is the appropriate retirement age? According to a survey conducted by Flea Market in July last year targeting 879 workers aged 30 and above, 22.5% of respondents chose "60-64 years old" as their desired retirement age. The largest group, 17.3%, said they want to keep working as long as possible regardless of age, followed by 55-59 years (15.0%), 65-69 years (11.9%), and 50-54 years (11.0%).

[Image source=Yonhap News]

When asked about the age at which they could retire completely without economic worries, the most common answer was "difficult to predict" at 24.3%. Regarding their intention to work after retirement, 83.3% of respondents said they would "continue working."

Experts emphasize that to guarantee retirement age, office workers must maintain their expertise. Hong Seok-hwan, CEO of HR Strategy Consulting, said, "(What you need to do to guarantee retirement) is to develop your professional expertise. Expertise means, first of all, being outstanding compared to others in achievements, knowledge, and experience related to your job. When that happens, the company needs that person," he stressed.

Following expertise, Hong highlighted relationship management. He explained, "The most important skill in managing relationships with colleagues is communication ability. You cannot work alone in an office environment. Cooperation is necessary. If you only work within your assigned tasks, relationship management becomes difficult. Ultimately, genuinely caring for colleagues and communicating sincerely is very important. It's a kind of reputation management." He added, "If you are recognized for your expertise, deliver the results the company demands, and maintain a good reputation, you will be able to guarantee your retirement age."