TY - CHAP

T1 - How work values relate to the intention to work after retirement

AU - Fasbender, Ulrike

AU - Wöhrmann, Anne Marit

AU - Deller, Jürgen

N1 - Conference code: 1

PY - 2014

Y1 - 2014

N2 - Theoretical BackgroundOver the past decades post-retirement work has become increasingly important due to global population aging. Individuals’ participation in labor force and society help to realize their interests, capabilities, and needs to maintain quality of life. Further, post-retirement work offers a potential solution to the pressing population concerns in many industrialized nations, such as skill shortages or strained pension systems. Research has already revealed some influencing factors of post-retirement work (e.g., demographic characteristics, knowledge, skills, and abilities, health and financial circumstances). In order to differentiate individuals’ intentions to engage in work-related activities after retirement, work values might be proximal predictors because they serve as guiding principles for the selection, evaluation, and justification of behavior. However, not much is known about the role of work values in the context of post-retirement work. In the current study we will focus on the relationship between post-retirement work intentions and work values within the universal structure of human values elaborated by Schwartz and colleagues (e.g., Schwartz & Bilsky, 1987; Schwartz et al. 2012). In doing so, we emphasize on two relevant contributions. First, we aim to investigate individual work values within a context of post-retirement work intentions. Second, we aim to differentiate various types of post-retirement intentions to help understanding the fit between the individual value structure and the organizational work force planning.MethodTo test these hypotheses we collected data in a German logistics company via paper and web-based questionnaires (N = 1,071 employees aged 45 to 65 years). We differentiated five types of post-retirement work intentions (i.e., voluntary work, general paid work, same-employer work, other-employer work, and self-employed work intention). Work values were assessed with the Work Values Survey (Cable & Edwards, 2004), which was specifically developed to assess individual values in a work context. The specified eight work values can be mapped on the four higher order values of Schwartz’ universal model (Schwartz & Bilsky, 1987). Altruism and relationship with others correspond to self-transcendence; salary and prestige correspond to self-enhancement; security and authority correspond to conservation; and variety and autonomy correspond to openness to change (Hirschi & Fischer, 2013). A confirmatory factor analysis supported the construct validity of the second order value model. Further, we applied path analysis to identify relations between work values and post-retirement work intentions.ResultsResults indicated that work values were differentially related to the five types of post-retirement work intentions. Self-transcendence was significantly and positively related to all types of work intentions. Self-enhancement was significantly and positively related to general paid work and other-employer work intentions. Conservation was significantly and negatively related to general paid work, other-employer work and self-employed work intentions. Openness to change was significantly and positively related to voluntary work; but significantly and negatively related to same-employer work intentions. Theoretical contribution and practical implicationsThe study results add to the literature on work values and post-retirement work. First, we revealed that post-retirement work is a career step, in which individuals decide on different options of work after retirement. Second, we showed how work values related to those different options of post-retirement work intentions. Practically, the findings may be used in retirement counseling. Based on the specific work values of a client, different options for activity planning for retirement can be suggested. For example, for an individual with high self-transcendence but low conservation values starting an own business in retirement could be fulfilling. Further, the findings can contribute to organizations’ work force planning. The results provide first evidence for organizations, which of their older workers are likely to continue to work for them after retirement. Organizations should focus on those employees with high self-transcendence and low openness to change values when recruiting internally but focus on those people with high self-transcendence and low conservation values when recruiting externally. However, there are also limitations to this study. First, the cross-sectional design does not allow causal inferences. Second, we examined post-retirement intentions rather than actual behavior to work post-retirement. Third, the generalizability might be limited due to data inclusion from only one company. Future studies should consider using a longitudinal design and taking actual behavior into account. It will be intriguing to investigate the extent to which work values shape the process of post-retirement work planning and engagement. ReferencesCable, D. M., & Edwards, J. R. (2004). Complementary and supplementary fit: A theoretical and empirical integration. Journal of Applied Psychology, 89, 822–34. doi:10.1037/0021-9010.89.5.822Hirschi, A., & Fischer, S. (2013). Work values as predictors of entrepreneurial career intentions. Career Development International, 18, 216–231. doi:10.1108/CDI-04-2012-0047Schwartz, S. H., & Bilsky, W. (1987). Toward a universal psychological structure of human values. Journal of Personality and Social Psychology, 53, 550–562. doi:10.1037//0022-3514.53.3.550Schwartz, S. H., Cieciuch, J., Vecchione, M., Davidov, E., Fischer, R., Beierlein, C., Ramons, R., Verkasalo, M., Lönnqvist, J., Demirutku, K., Dirilen-Gumus, O. & Konty, M. (2012). Refining the theory of basic individual values. Journal of Personality and Social Psychology, 103, 663–88. doi:10.1037/a0029393

AB - Theoretical BackgroundOver the past decades post-retirement work has become increasingly important due to global population aging. Individuals’ participation in labor force and society help to realize their interests, capabilities, and needs to maintain quality of life. Further, post-retirement work offers a potential solution to the pressing population concerns in many industrialized nations, such as skill shortages or strained pension systems. Research has already revealed some influencing factors of post-retirement work (e.g., demographic characteristics, knowledge, skills, and abilities, health and financial circumstances). In order to differentiate individuals’ intentions to engage in work-related activities after retirement, work values might be proximal predictors because they serve as guiding principles for the selection, evaluation, and justification of behavior. However, not much is known about the role of work values in the context of post-retirement work. In the current study we will focus on the relationship between post-retirement work intentions and work values within the universal structure of human values elaborated by Schwartz and colleagues (e.g., Schwartz & Bilsky, 1987; Schwartz et al. 2012). In doing so, we emphasize on two relevant contributions. First, we aim to investigate individual work values within a context of post-retirement work intentions. Second, we aim to differentiate various types of post-retirement intentions to help understanding the fit between the individual value structure and the organizational work force planning.MethodTo test these hypotheses we collected data in a German logistics company via paper and web-based questionnaires (N = 1,071 employees aged 45 to 65 years). We differentiated five types of post-retirement work intentions (i.e., voluntary work, general paid work, same-employer work, other-employer work, and self-employed work intention). Work values were assessed with the Work Values Survey (Cable & Edwards, 2004), which was specifically developed to assess individual values in a work context. The specified eight work values can be mapped on the four higher order values of Schwartz’ universal model (Schwartz & Bilsky, 1987). Altruism and relationship with others correspond to self-transcendence; salary and prestige correspond to self-enhancement; security and authority correspond to conservation; and variety and autonomy correspond to openness to change (Hirschi & Fischer, 2013). A confirmatory factor analysis supported the construct validity of the second order value model. Further, we applied path analysis to identify relations between work values and post-retirement work intentions.ResultsResults indicated that work values were differentially related to the five types of post-retirement work intentions. Self-transcendence was significantly and positively related to all types of work intentions. Self-enhancement was significantly and positively related to general paid work and other-employer work intentions. Conservation was significantly and negatively related to general paid work, other-employer work and self-employed work intentions. Openness to change was significantly and positively related to voluntary work; but significantly and negatively related to same-employer work intentions. Theoretical contribution and practical implicationsThe study results add to the literature on work values and post-retirement work. First, we revealed that post-retirement work is a career step, in which individuals decide on different options of work after retirement. Second, we showed how work values related to those different options of post-retirement work intentions. Practically, the findings may be used in retirement counseling. Based on the specific work values of a client, different options for activity planning for retirement can be suggested. For example, for an individual with high self-transcendence but low conservation values starting an own business in retirement could be fulfilling. Further, the findings can contribute to organizations’ work force planning. The results provide first evidence for organizations, which of their older workers are likely to continue to work for them after retirement. Organizations should focus on those employees with high self-transcendence and low openness to change values when recruiting internally but focus on those people with high self-transcendence and low conservation values when recruiting externally. However, there are also limitations to this study. First, the cross-sectional design does not allow causal inferences. Second, we examined post-retirement intentions rather than actual behavior to work post-retirement. Third, the generalizability might be limited due to data inclusion from only one company. Future studies should consider using a longitudinal design and taking actual behavior into account. It will be intriguing to investigate the extent to which work values shape the process of post-retirement work planning and engagement. ReferencesCable, D. M., & Edwards, J. R. (2004). Complementary and supplementary fit: A theoretical and empirical integration. Journal of Applied Psychology, 89, 822–34. doi:10.1037/0021-9010.89.5.822Hirschi, A., & Fischer, S. (2013). Work values as predictors of entrepreneurial career intentions. Career Development International, 18, 216–231. doi:10.1108/CDI-04-2012-0047Schwartz, S. H., & Bilsky, W. (1987). Toward a universal psychological structure of human values. Journal of Personality and Social Psychology, 53, 550–562. doi:10.1037//0022-3514.53.3.550Schwartz, S. H., Cieciuch, J., Vecchione, M., Davidov, E., Fischer, R., Beierlein, C., Ramons, R., Verkasalo, M., Lönnqvist, J., Demirutku, K., Dirilen-Gumus, O. & Konty, M. (2012). Refining the theory of basic individual values. Journal of Personality and Social Psychology, 103, 663–88. doi:10.1037/a0029393

KW - Business psychology

M3 - Published abstract in conference proceedings

SP - 63

EP - 65

BT - The First HR Division International Conference, Proceedings 2014

A2 - Sun, J.-M.

A2 - Luo, N.

PB - Renmin University of China

T2 - 1st HR Division International Conference of the Academy of Management - HRIC 2014

Y2 - 15 June 2014 through 16 June 2014

ER -