Case Study Details - The Future of Jobs Initiative - Pioneering Sustainable Retirement Solutions

Many organizations are currently facing a growing business continuity challenge as significant portions of the workforce approach retirement eligibility. This reality highlights an increasing risk of losing valuable skills, institutional knowledge, and client relationships as employees exit the workforce. For longstanding global organizations such as Zurich Insurance Group, who are heavily reliant on long-term trusted customer relationships, the risk is higher than within startups or sectors that tend to have shorter service tenures and high customer churn.

In North America, guided by Zurich’s People Sustainability principles, Zurich recognized an opportunity to address this challenge, and at the same time support the continued development of an inclusive, resilient, and future-ready workplace.

Anchored in its People Sustainability aspiration and aligned with the WEF’s call to prioritize lifelong learning and inclusion, Zurich North America developed Phased Retirement@Zurich, a forward-thinking program that bridges the gap between workforce transitions and business continuity. Designed to meet both employee aspirations and organizational needs, the program offers flexible role modifications for up to 24 months for those employees who qualify. This includes employees 55 years or older who have been with Zurich for at least five years and who have critical knowledge or relationships they commit to transfer to their colleagues. Participating employees are able to gradually reduce their working hours before fully retiring, supporting them as they plan for retirement, while enabling them to pass on their knowledge and relationships to others on the team. Through this program, Zurich empowers employees to redefine their retirement pathway in a way that aligns with their personal goals and aspirations. The program enables adjustments such as transitioning from full-time to part-time work, working virtually from a retirement destination, or moving from a managerial to an individual contributor role. This tailored flexibility ensures that employees feel supported, engaged, and valued during their final years of employment.

By creating equitable opportunities for senior employees to transition gracefully while sharing their expertise, Zurich ensures that this segment of its workforce continues to contribute meaningfully to its long-term success.

Impact / Outcome

Since its launch in 2022, Phased Retirement@Zurich has already demonstrated tangible benefits. Employees have responded positively, recognizing it as a forward-thinking program that values their contributions while addressing their personal needs. Comments such as “This is a win-win!” and “An innovative benefit that adds real value for employees and the organization” underscore the enthusiasm and trust fostered by the program. “When employees retire suddenly, the organization risks losing valuable insights and expertise that could potentially damage relationships with our customers. Phased retirement addresses this challenge by allowing a gradual transfer of knowledge while giving employees the opportunity to ease into retirement,” says Al Crook, Chief Human Resources Officer, Zurich North America. Phased Retirement@Zurich is driving more than retirement transitions; it is fostering a culture of flexibility, inclusivity, and foresight. Employees have embraced the opportunity to leave a meaningful legacy, passing on their knowledge and expertise in a structured way that supports Zurich’s long-term goals. This program is also enabling Zurich to retain critical skills while positioning itself as an employer of choice for those seeking innovative and sustainable employment practices. This program reflects Zurich’s belief that sustainable employment practices are essential to future proofing both people and organizations. By empowering employees to transition with dignity and purpose, Zurich is setting a new standard for how businesses can balance the needs of their workforce with those of the organization, demonstrating measurable impact in creating sustainable and inclusive workplaces.