the upside to the financial market mayhem?

I don't profess to be a financial market expert, I leave that to my lovely husband the financial advisor who is not really enjoying his job at present, but I do believe there is an upside, for employers anyway.

In a very short period of time, since the end of October 2007, the All Ordinaries has lost around 30% of its value. Given that most people have been planning for a self-funded retirement (imposed on them in the early 1980s by the then Australian Government) and therefore more than likely exposed to the volatility of the share market, those planning for retirement have seen a dramatic reduction in the value of their superannuation nest egg. For this reason, people may be forced to delay their retirement intentions and remain in the workforce, particularly those people nearer to retirement age. It may also result in previously retired people having to re-enter the labour market. This is an unfortuate situation for those who were planning SKI holidays (Spend the Kids Inheritance holidays), but potentially a real and effective solution to offsetting the impact of an ageing population on skill and labour shortages.

It is important to recognise however, that those nearing retirement and those re-entering the labour market from retirement scenarios, may have differing needs and desires from the workplace. In order to maximise the productivity, skills and knowledge of those planning for retirement (and potentially resentful that they are still required to work!) it is important to work with them to make sure that the needs of all parties are able to be met.