What Can Motivate Me to Keep Working? Analysis of Older Finance Professionals’ Discourse Using Self-Determination Theory

Abstract

The twin issues of population aging and critical talent shortages induce employers to encourage older workers to prolong their professional lives. Over the past two decades, studies have mainly examined which human resources practices influence older workers’ ability, motivation, and opportunity to continue working. Our conceptual lens rest on self-determination theory (SDT). This study explores how older professionals in the financial services sector may see how three psychological needs (i.e., autonomy, competence, and relatedness) are satisfied or frustrated through various management practices such as monetary rewards, benefits, career development, and work content and context. Our interviews with older finance professionals also show the relevance of a fourth need, beneficence, to understand their decision to continue to work. Results of this study are likely to be significant at both managerial and societal levels in the perspective of sustainable development or employability.