The Effects of Job Characteristics on Retirement

66 Pages Posted: 7 Oct 2019 Last revised: 20 Aug 2021

See all articles by Péter Hudomiet

Péter Hudomiet

RAND Corporation

Michael Hurd

RAND Corporation - Santa Monica CA Offices

Andrew Parker

RAND Corporation

Susann Rohwedder

RAND Corporation

Date Written: October 2019

Abstract

This paper presents results based on a survey fielded in the RAND American Life Panel that queried older workers about their current, desired, and expected job characteristics, and about how certain job characteristics would affect their retirement. Having access to flexible work hours was found to be the most consistent predictor of retirement expectations. For example, we estimated that the fraction of individuals working after age 70 would be 32.2% if all workers had flexible hours, while the fraction working would be 17.2% if none had the option of flexible hours. We further found that job stress, physical and cognitive job demands, the option to telecommute, and commuting times were also strong predictors of retirement expectations. By comparing workers’ current job characteristics with those that individuals desire, we show that people would like preretirement jobs to be less cognitively and physically demanding and more sociable compared to their current jobs. We also find that most workers worry about their health and the demands of their jobs when they think about their future work trajectory, but relatively few were worried that their employers would retain them. Having access to part-time jobs, and expected longevity were less important predictors of retirement.

Suggested Citation

Hudomiet, Péter and Hurd, Michael and Parker, Andrew and Rohwedder, Susann, The Effects of Job Characteristics on Retirement (October 2019). NBER Working Paper No. w26332, Available at SSRN: https://ssrn.com/abstract=3465343

Péter Hudomiet (Contact Author)

RAND Corporation ( email )

1776 Main Street
P.O. Box 2138
Santa Monica, CA 90407-2138
United States

Michael Hurd

RAND Corporation - Santa Monica CA Offices ( email )

P.O. Box 2138
1776 Main Street
Santa Monica, CA 90407-2138
United States

Andrew Parker

RAND Corporation ( email )

1776 Main Street
P.O. Box 2138
Santa Monica, CA 90407-2138
United States

Susann Rohwedder

RAND Corporation ( email )

P.O. Box 2138
1776 Main Street
Santa Monica, CA 90407-2138
United States

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