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Companies re-hiring retirees as temps

Posted on June 27th, 2011 Read time: 1 minutes

Bringing on contract workers has become an especially popular business decision in light of the uncertain economy. This strategy gives companies the opportunity to hire individuals to fill temporary gaps while providing them with ample flexibility.

One new subset in this trend involves businesses re-hiring retired employees, according to the Rockford Register Star. This gives retirees an added source of income as well as benefits, and provides companies with workers who are already familiar with the company's culture and processes.

"When you go back to your former company to do work, it's a win-win for both sides," said John Challenger, chief executive officer of Challenger, Gray & Christmas, the source noted. "You have a special know-how about that company that makes you most valuable there, even more so than going into a new company."

"There's relationships that are already there. The company gets someone who's up and running immediately with no training," he added.

The return of retired persons to the workplace has become even more prominent since the recession began. A recent article in Retirement Planning suggested 65 years of age may be too early to retire. 

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