A Generic Qualitative Inquiry Study of Psychosocial Readiness for the Transition to Retirement

Abstract

The retirement of senior leaders represents a significant life transition with profound implications for individual identity, purpose, and well-being, especially as the global workforce ages. With projections indicating more than 41.4 million workers in the United States will be older than 55 by 2031, understanding the psychosocial challenges of retirement transitions becomes increasingly crucial. This study addresses a critical gap in existing research by exploring the experiences of senior leaders who initially struggled but successfully navigated their retirement transition. The research question guiding this investigation was: "What is the experience of senior leaders who initially struggled with the emotional aspects of retirement transition before achieving successful adjustment?" A generic qualitative inquiry methodology was employed, utilizing semi-structured interviews to collect in-depth data from participants. The sample comprised ten senior leaders who had retired from top management positions within the past one to three years and self-identified as having experienced and overcome initial emotional challenges during their retirement transition. Data were analyzed using a hybrid approach of deductive and inductive thematic analysis, employing NVivo qualitative data analysis software to identify and interpret emerging themes. The study revealed five key themes: Identity Loss and Initial Struggle, Social Network Transformation, Purpose Reconstruction, Adaptation Strategies, and Identity Integration. Findings demonstrated that a successful retirement transition for senior leaders involves actively reconstructing professional identity, transforming social networks, and developing new sources of meaning and purpose. The research provides practical implications for organizations and human resource professionals, offering insights into developing more comprehensive psychosocial preparation tools that support senior leaders through this significant life transition and ultimately enhance individual well-being and organizational effectiveness.