KEEPING ONE FOOT IN THE DOOR: Consulting Appealing Prospect for Executives
Provided by the career experts at Robert Half Management Resources

Executives nearing retirement will be seeking a more gradual bridge to their golden years. A new survey suggests many will be going into business for themselves. Almost three out of four (70 per cent) chief financial officers (CFOs) interviewed said they view consulting as an attractive segue into retirement.

The survey was developed by Robert Half Management Resources, the world’s premier provider of senior-level accounting and finance professionals on a project and interim basis. It was conducted by an independent research firm and includes responses from 270 CFOs from a stratified random sample of Canadian companies with 20 or more employees.

CFOs were asked, “How attractive would you find the prospect of consulting when you approach retirement?” Their responses:

Very attractive	..............................................	24%
Somewhat attractive	..............................................	46%
Not attractive at all	..............................................	25%
Don’t know/refused	..............................................	5%
		100%

                                                                                                                

CFOs also were asked to identify the greatest benefits of consulting as one approaches retirement. The advantages most commonly cited were remaining in the workforce but working fewer hours (noted by 50 per cent of respondents), earning money to supplement retirement (36 per cent) and gaining experience working for a variety of firms (9 per cent).

“Many professionals would prefer a measured transition to retirement, and consulting affords them the opportunity,” said Paul McDonald, executive director of Robert Half Management Resources. “Consulting enables experienced professionals to maintain many of the benefits of work, including challenging assignments, competitive compensation and intellectual stimulation, while still allowing time to pursue personal interests.”

Companies stand to benefit from using experienced professionals as consultants, noted McDonald. “By allowing those nearing retirement to take on mentoring roles, firms can ensure these workers’ expertise and knowledge are retained and passed on to other employees in the organization.”

About the Survey

The national study was developed by Robert Half Management Resources, the world’s premier provider of senior-level accounting and finance professionals on a project and interim basis. It was conducted by an independent research firm and is based on 270 telephone interviews with CFOs from a random sample of Canadian companies with 20 or more employees. For the study to be statistically representative and ensure that companies from all segments are represented, the sample was stratified by geographic region and employee size. The results were then weighted to reflect the proper proportions of employee size within each region.