50-plus Managers: A Wealth Not to Waste

More often than being expelled from the labor market, 45/50-plus managers risk remarkable difficulties in being reintegrated into the working world. This study aims to understand which problems this age group encounters, and to derive possible remedies so that their valuable expertise can be re-integrated. These experienced managers can play an important role for companies who are in need of managerial competencies. The study was carried out by Manageritalia (National Federation of Manager and Professional in Tertiary Sector) in September 2006 in a representative sample of 20,000 members (overall number of managers in tertiary and private sector in Italy: appr. 150,000). Leading questions of the study were: How is the risk of losing a managerial position evaluated, and how are various difficulties of finding a similar job perceived? What are reactions in companies and in the marketplace? What circumstances could support directing this currently unused managerial expertise towards those small and medium-sized companies which declare a competitive disadvantage? Paradoxically, it seems that although managers and managerial competencies of an adequate level are needed, the professional qualities of many excellent managers remain unused. Considering retirement age inevitably rising in European countries, the importance of using this managerial potential will even increase. Results indicate that the responding managers (2,000 participants contacted by online questionnaire) are aware of the situation and feel threatened by it. They are preparing themselves to face difficult times. It is not that they are trying to inflexibly hold onto their acquired roles; instead, they are looking for a labour market that is able to offer real flexibility, and most of all, effectively matching work demand and supply. The managers are asking for a retirement provision that helps them to manage flexibility better, to enlarge working life, and to increase retirement age.