Human capital and post-retirement employment: The role of shared leisure and informal care

Abstract

The current study examines the influences of leisure preferences and caregiving responsibilities on the relationship between human capital and post-retirement employment among Malaysian older adults. Cross-sectional data were collected between May and August 2023 from 770 participants aged between 60 and 74 years in the Klang Valley through survey questionnaires. Binary logistic regression was subsequently conducted to discover the relationships between the study variables. The results demonstrated a significant negative relationship between education and post-retirement employment, whereas work experience was positively correlated to post-retirement employment. Moreover, a positive interaction effect of human capital on post-retirement employment posited that higher human capital would increase the tendency to return to work after retirement. Meanwhile, spouse employment negatively impacted retirees’ intention to return to work, which propounded that married couples preferred shared leisure activities. Grandchild care and unpaid care produced minimal impacts on post-retirement employment decisions. The study findings provided several implications for Malaysian companies, including the need for more training programmes, flexible work arrangements, and family-friendly policies, to accommodate retirees’ employment preferences and caring responsibilities. Policymakers should also apply the current insights when developing pertinent strategies to improve economic resilience and employability of the ageing workforce.