Before the announcement on Sunday (21 July), Biden, aged 81, had insisted that he would remain as the Democratic candidate for president in the upcoming US election. He faced calls from within and outside of his party to withdraw from the race.
“There really is no right or wrong time for an older worker to step down or retire,” Mary-Clare Race, CEO at DEI consultancy Talking Talent told HR magazine. “Each individual should be treated as such – an individual.”
She added: “Many people continue to enjoy their careers later in life and choose to continue beyond the typical retirement age.
“Multiple factors will come into play when making the decision, including physical and mental health, the nature of the role itself and, in particular, the demands placed on the employee, and the degree of support they have around them.
“Once all of these have been considered and the decision to step down has been made, it's about knowing how to retire with professionalism and dignity.”
Read more: One in 10 returns to work after retirement
HR should have a plan in place for older employees to move away from leadership roles, commented Max Specht, workplace trends expert at HR software firm Personio.
Speaking to HR magazine, he said: “Older workers bring years of experience, wisdom and skill to the table. But as they get to the end of their careers, it's important for businesses to have a plan in place to ensure a smooth transition of leadership in the business.
“For example, allowing senior leaders to reduce their hours but remain in part-time 'fractional' roles enables businesses to get the best out of their senior employees while creating the conditions for seamless succession planning.”
Specht added that HR leaders could create consultancy roles or a phased approach to retirement to make the most of older talent.
“By creating temporary consultancy roles, companies can make the most of the expertise of senior leaders before they retire, whilst creating more upward internal mobility within the business.
“Organisations should also encourage older leaders to take a multi-year approach to their retirement, in the form of their benefits or reward strategy. This could include organising retirement planning workshops with senior leaders, to help them make decisions that are best for themselves and the business.”
Recent weeks have seen Biden face increasing pressure to step down from the presidential race after the first presidential debate with Republican rival Donald Trump, who is 78, on 27 June. During that debate Biden appeared to stumble over his words and leave long pauses between words.
At the NATO summit (11 July) Biden misnamed Ukrainian president Zelensky, instead using the name of the Russian president, and Zelensky's political opponent, Putin.
These mistakes led to Biden being ridiculed in the media and exacerbated concerns over his ability to continue leading the US.
Read more: Ageism most commonly experienced at work, study finds
Biden previously stated that he would not seek re-election if he didn’t believe he could do the job. He withdrew from the presidential race on Sunday (21 July), but is to remain as president until his successor is inaugurated. This is despite facing calls from Republicans to leave the White House before a successor is inaugurated.
Biden has endorsed his vice president, Kamala Harris, 59, to succeed him as the Democratic candidate for the presidency.
Creating intergenerational workforces could allow older workers to step back from work more easily, explained Aniela Unguresan, founder of DEI standard the EDGE Certified Foundation.
Speaking to HR magazine, she said: “When somebody decides they are no longer able to or wish to fulfil their role, organisations that have taken time to understand the intergenerational dynamics will find it easier to develop a robust plan for passing the baton from one generation to another seamlessly, without losing all the knowledge, wisdom and experience that has been accumulated over the years.
“Managing generational complexities effectively means defining a path for the sharing of knowledge, and the transitioning of power and decision making from older to younger generations.”
Ungeresan noted that HR should also prioritise tackling ageism in the workplace, to prevent stereotypes forcing older workers out of work before they are ready to retire.
“HR teams need to counter ageism that is very much alive and prevalent in youth-centric western societies, in order to support employees in all stages of their careers.
“While ageism will persist, HR teams must manage it proactively through addressing the unconscious biases that pervade workplaces.
“For example, acknowledge and counter harmful stereotypes of older generations having rigid views and personalities, cognitive impairment, or being digitally ignorant and unwilling to learn.”
