Time to hang up the boots.

Executive retirement in Brazil is an issue that is gaining importance and urgency with each passing day. Among the factors we consider significant in the current situation in the country, we can highlight: the pressures exerted on companies by changes in economic policy; the need to reduce management and middle management levels in organizations; the renewal of management teams in search of individuals with an entrepreneurial profile at lower costs; increased competition with the opening of the market; the surprising growth of the Brazilian population over 60 years of age; and the failure of our social security system.

Added to all these factors is the executive's own unpreparedness for this new phase of his life. Firstly, throughout his life, he concentrated all his efforts on his professional career and neglected his personal quality of life. He established strong ties of dependence with the organization to which he was linked, not developing any other identities besides that of "manager of such and such company...".

He thought that to retire peacefully, all he needed was to focus solely on building a financial reserve. Ultimately, he didn't realize that, like previous phases of life, retirement can also be rich in experiences and growth, but it requires preparation. And this becomes more difficult after losing one's organizational ties. Therefore, it would be more prudent and effective to begin this preparation while still employed. 

The scenario for this harsh reality described above is accurately documented in a study published by the State System of Statistical Data Analysis Foundation (SEADE), revealing that we are ceasing to be the much-vaunted "country of young people." According to this same study, the Brazilian population over 60 years old will grow eight times faster than the young population and twice as fast as the rest of the population. In 1960, the elderly represented 4,7% of Brazilians. The expectation for 2025 is that this figure will exceed 15,1%. The conclusion is even more dramatic when it warns that in the 21st century, most of these 34 million elderly Brazilians will be condemned to abandonment and misery if the current social security system is not modified.

This situation, which at first may seem distant and not affect executives, should be taken very seriously, especially by three groups. We refer to those who are retiring now and who have not prepared for this new phase of their lives. Secondly, to those who are eligible for retirement in the next five years. And to those who are in the ascending phase of their careers, climbing to leadership and middle management positions and concerned only with their professional status.

This article focuses on presenting alternatives for those in the first two categories. However, many of the ideas and experiences we are already developing in organizations in Brazil are also useful for those in the third group. Over the past few years, and also stimulated by the organizational model we have copied from other cultures, individuals and organizations have concentrated all their concerns and efforts on developing a brilliant career. While the organization and the individual grew, the future always seemed bright. Vertical careers, symbols of power and "status" involved both in such a way that the sacrifices didn't matter. For many who grew up in this model, it was perfectly acceptable that the determinant of their organizational success was personal failure. In many cases, this price was paid through destroyed marital life, estrangement from children, and even neglect of their personal structure (health, culture, mind, etc.). 

As the years passed, the realization came painfully. The loss of organizational identity (to which all motivations and achievements were channeled) exposed the successful executive who had become just an "ex." And on the other side, he found only the emptiness of not having built other sources of satisfaction. Not even substitutes for the loss of self-esteem linked to work. We must not forget that society is vile. While he "was" manager of Banco do Brasil, director of Volkswagen, or executive of Petrobras, his star shone and his "friends" surrounded him with attention. When he ceased to "be," the phone stopped ringing, the appointments disappeared, he lost his secretary, his office, his furniture, his parking space, his badge, his place in the executive cafeteria...

Only now does he realize that he dedicated excessive importance to all this, which was, in fact, important, but fleeting. How to face this transition? How to replace these losses? Within organizations, it is important that this concern be part of a policy clearly defined by its management. Prepare your executives for what we conventionally call "post-career." And secondly, developing a program presupposes the existence of a retirement supplement plan. Then, operationalize the gradual retirement process. In this way, the company ensures technology transfer, avoids discontinuity in relationships with clients and suppliers, reduces the risk of the traditional "boycott by the older employees," and makes the organizational climate less threatening. It is also important to prepare the supervisors of those about to retire. They can compromise all the work if they are not involved.

 

For participants, we recommend: creating an awareness process on the subject; making them responsible for their own progress, avoiding any action that continues to generate dependence on the existing relationship; analyzing all information about alternatives (stopping work, continuing to work, starting their own business, becoming a consultant, developing other activities in the community, etc.), seeking guidance for setting up their project, developing their life project, and implementing it. In our experience, this project would ideally last five years, but realistically we have completed it in a minimum of one year and a maximum of two years. These timeframes are adjusted to the Brazilian reality.

Executive preparation is fundamental, as it means creating mechanisms to transform losses into gains. And we cannot forget that the society we live in is extremely ungrateful. Its vision of success is still heavily influenced by symbols of "having," not giving much importance to "being." Therefore, preserving self-esteem, finding new sources of fulfillment, and the certainty that this new phase can be as, or even more, fulfilling than the previous ones becomes vital. The support of the family structure is important, but we must emphasize that the entire responsibility for guiding this new life project rests with the individual themselves. 

Note: If you are more interested in the topic, I recommend reading "Work and Enjoy - Balance between personal and professional life" - Nobel Publisher, where I discuss the subject in more detail.