If you’re a Boomer, it’s your second act. You have the opportunity to shape the second half of your life.
How are you making the most of that opportunity? You may be doing work or activities that are useful, but are they fulfilling?
Whether you’re leading a church group, working with the food pantry, or enjoying recreational activities, you need to come to terms with something: your fifth cruise may not be as interesting. Your second year of pickleball may not fulfill you in the way you want it to.
You're probably not sure what might be next if that is true. What you do know is that there must be something “next” for you.
On Creating Your Encore Career, we talked through some of your options for making the most of your second act. We also reviewed an article from Market Watch titled, "'I Needed Something to Do': How Working in Retirement is Being Embraced by Older Adults and Companies." Let’s get into it now.
The Demand for Older Workers
Companies are overwhelmed with demand from employers looking to hire older workers. On the other side of things, Boomers are being driven by the idea that working longer and easing into retirement can help people live longer and healthier lives.
As Eisenberg writes, “{They} are hitting retirement age at a time when America’s corporations and small businesses need them more than ever… As a result, companies and small businesses are trying to lure people in their 60s off pickleball courts and golf courses.”
Possible New Paths
If this is resonating with you and you want to figure out your next steps, here are some of the possible new paths for you:
Phased retirement
Full return from retirement
Contract work
Part-time work
Challenges for Employers
With the new wave of older employees, employers are identifying some negatives. For one, if multiple older employees are returning to do part-time work, there may be more management effort needed. However, there would be just as much management effort required if companies were to hire new and very inexperienced employees.
There are also some HR issues to be sorted through. For example, the distinction between part-time and full-time workers needs to be made. Benefits, insurance, vacation, and bonuses need to be sorted out. There needs to be training for the new diverse workforce of four plus generations. Companies need to figure out how to lead remote teams.
All of this is worth it once you consider this question: what is the total cost of experience and the cost of inexperience?
