Adaptation to continued work and early retirement following downsizing: Long‐term effects and gender differences

Abstract

As part of the downsizing of a large insurance company in Sweden, all personnel 55 years of age and older were invited to apply for early retirement on financially favourable terms. A total of 357 (55%) of senior employees applied for and were permitted early retirement, while 276 remained employed. Effects of voluntary/forced choice of employment status on subsequent adaptation were evaluated. Gender differences were also tested. The study compared early retirees and persons continuing to work over the years following downsizing with regard to satisfaction, well‐being, health, and work centrality. 224 ‘retirees’ and 146 ‘stayers’ filled in a questionnaire on mental health and work conditions on two occasions (at an 18‐month interval). Results indicated that voluntary (as opposed to forced) choice was directly and positively associated with satisfaction, psychological well‐being and health for both groups. Females showed lower values of work centrality, appeared to be more inclined to apply for retirement, and were generally more satisfied with the outcome than males.

Actor and Partner Effects Among Marital Dyads in Retirement Adjustment and Well-being

“…Herzog, House, and Morgan (1991) found that retirement had negative effects only when persons were forced to retire against their personal preferences. This finding supports previous ones that involuntary early retirement is associated with lower levels of retirement satisfaction than voluntary retirement (Isaksson & Johansson, 2000;Kim & Moen, 1999;Kimmel, Price & Walker, 1979;Knesak, 1991).…”

Diminishing the social network in organizations: does there need to be such a phenomenon as ‘survivor syndrome’ after downsizing?

“…Much of the research examining the antecedents to 'survivor syndrome' has focused on the concept of perceived fairness (Isaksson and Johansson, 2000). 'Survivor syndrome' is more likely if the survivors perceive that organizational support for those who were laid off is low (Shah, 2000).…”

“…Even in early 'survivor syndrome' literature there was some evidence that effective management of downsizing can control for negative effects on the survivors (Brockner, 1990;Brockner et al, 1992). Influence over perceived fairness and job security and commitment prior to the downsize were shown to significantly manipulate survivor reactions (Isaksson and Johansson, 2000). In a study by Carswell (2005) it was noted that the way in which the process was implemented went some way to improving the financial performance of downsized firms.…”

The Name Game: Employability Evaluations of Prototypical Applicants with Stereotypical Feminine and Masculine First Names

“…Researchers have investigated the legal and moral obligations created by employee handbook passages concerning termination for cause (e.g., McLean Parks & Schmedemann, 1994;, the psychological effects of layoffs and unemployment (e.g., Eisenberg & Lazarsfeld, 1938), the effects of layoffs on survivors (e.g., Brockner, 1988Brockner, , 1990Brockner & Greenberg 1990;Brockner et al, 1997;Wiesenfeld, Brockner, & Thibault, 2000), and perceived fairness in job terminations (e.g., Rousseau & Anton, 1988), as well as the effects of layoffs on satisfaction, income (e.g., Schneer & Reitman, 1990), well-being, work centrality, and health (e.g., Isaksson & Johansson, 2000). Past researchers have explored how employees cope with job loss (e.g., Bennett, Martin, Bies, & Brockner, 1995;Latack, Kinicki, & Prussia, 1995;Leana & smith, Tabak, Showail, Parks, and Kleist Feldman, 1994;Spera, Buhrfield, & Pennebaker, 1994) and the effects of an impending layoff on citizenship and extra-role behavior (e.g., Martin & Bies, 1991).…”