On Longevity

My colleague Tim Setterfield retired today after 42 years at SSTL. In today’s labour market, that makes him an outlier.

In the early 1980s, when Tim left school, 1 in 5 workers would retire after 40+ years with the same organisation. Four decades later, that figure has collapsed to well under 1 in 100. And for those starting their careers today, it will be lower still.

What changed?

Pension reform removed the golden handcuffs. Industrial firms became less stable. Engineering shifted toward project-based work, and career progression increasingly requires ambitious people to move.

The interesting thing about Tim’s career is that he worked across multiple departments, functions and levels of responsibility. He joined when the company was young. As it grew, so did Tim. He had five or six careers — all under one roof.

Once upon a time, 40 years earned you a gold watch. Careers like that are so rare now, the tradition has died.

Fittingly.. Tim leaves with a model satellite instead.