HHGP Hudson Highland Grp., Inc. (MM)

Nearly Half of U.S. Workforce Financially Ill-Prepared for Retirement Three Quarters Expect to Work Well Beyond Retirement NEW YORK, Jan. 20 /PRNewswire-FirstCall/ -- Nearly half (45 percent) of the U.S. workforce does not believe it will have enough money set aside for a comfortable retirement. This according to the latest national Hudson retirement survey, which also finds that three-fourths (74 percent) of U.S. workers plan to work at least part-time during their retirement years. Forty- one percent of workers plan to retire before they reach the age of 65. Though 47 percent of employees believe that their company does a good or excellent job educating its workforce about retirement planning and benefits, a nearly equal percentage rate their organizations as fair or poor. Individuals in higher income brackets give more complimentary appraisals. Nationally, workers do not expect company pensions and Social Security to provide significant retirement income. Half (52 percent) report that personal savings will provide the biggest share of their income after they stop working, while only 20 percent expect company pensions to do so. Twenty-one percent of workers expect social security to comprise the biggest chunk of their retirement income. Biggest Share of Anticipated Retirement Income (% workers): All Men Women 18-29 30-39 40-49 50-64 65+ Workers Personal 52 57 47 63 58 46 40 51 Savings Company 20 19 20 16 19 23 23 12 Pensions Social 21 19 24 14 17 25 31 24 Security "As companies cut back on traditional pensions and healthcare coverage for retirees, it is clear that the workforce will have to turn to their own savings and/or keep working to sustain themselves during retirement," says Jeff Anderson, senior vice president of Hudson, North America. "As individuals stay in the workforce longer -- either by choice or necessity -- organizations would be well-served by creating programs and training that recognize the value of older workers." A third (31 percent) of workers in the age group of 50-64, who are fast approaching traditional retirement age, anticipate that Social Security will provide the biggest income contribution, although a plurality (40 percent) expect personal savings to do so. However, the younger workforce (18-29) is no longer taking Social Security for granted. Only 14 percent expect it to provide the biggest share of their retirement income. Workers under 40 are also more likely to predict they will not work during their retirement years than those 40 and older. Plan to work during retirement years (% workers): All Men Women 18-29 30-39 40-49 50-64 65+ Workers Part-time 51 48 53 48 47 53 57 51 Consulting 12 13 11 17 15 8 9 5 Full-time 11 14 8 6 10 12 14 30 Will Not 15 15 15 16 18 13 12 7 Work The Hudson retirement survey is based on a national poll of 2,170 U.S. workers and was compiled by Rasmussen Reports, LLC, an independent research firm (http://rasmussenreports.com/ ). Hudson, one of the world's leading professional staffing, outsourcing and human capital solution providers, also publishes the Hudson Employment Index(SM), a monthly measure of the U.S. workforce's confidence in the employment market. Next month's Hudson Employment Index(SM) will be released on February 2, 2005. Hudson Hudson delivers specialized professional staffing, outsourcing and human capital solutions worldwide. From single placements to total solutions, the firm assesses, recruits and develops talent to meet the specific business needs of each client. Global practice areas include Accounting & Finance; Engineering, Operations & Scientific; Healthcare; Human Resources; IT & Telecommunications; Legal; and Sales & Marketing. Hudson is a division of Hudson Highland Group, Inc. (NASDAQ:HHGP) one of the world's leading professional staffing, retained executive search and human capital solution providers. More information is available at http://hudson.com/. DATASOURCE: Hudson Highland Group, Inc. CONTACT: Jennifer Bernhart of Hudson, +1-813-890-7379, ; or Anshula Ahluwalia of Ogilvy Public Relations, +1-312-397-6074, , for Hudson Web site: http://www.hhgroup.com/ http://hudson.com/ http://rasmussenreports.com/

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