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More boomers are choosing to work during retirement. Working during retirement and seniors working leads the demand for jobs for seniors. The end of mandatory retirement and seniors choosing to continue to work means more boomers are seeking jobs. Senior’s poverty, especially single women living in poverty or seniors living in poverty – many seniors live on fixed incomes below the poverty line. Seniors financial needs are not met unless they find jobs for retirees. Retirement jobs, mature workers, working, supplement pensions, employees, employers - a big shift in the economy. More boomers are choosing to work during retirement. Working during retirement and seniors working leads the demand for jobs for seniors. Senior’s poverty, especially single women living in poverty or seniors living in poverty – many seniors live on fixed incomes below the poverty line. Seniors financial needs are not met unless they find jobs for retirees. Retirement jobs, mature workers, working, supplement pensions, employees, employers - a big shift in the economy. More boomers are choosing to work during retirement. Working during retirement and seniors working leads the demand for jobs for seniors. The end of mandatory retirement and seniors choosing to continue to work means more boomers are seeking jobs. Senior’s poverty, especially single women living in poverty or seniors living in poverty – many seniors live on fixed incomes below the poverty line. Seniors financial needs are not met unless they find jobs for retirees. Retirement jobs, mature workers, working, supplement pensions, employees, employers - a big shift in the economy.More boomers are choosing to work during retirement. Working during retirement and seniors working leads the demand for jobs for seniors. Senior’s poverty, especially single women living in poverty or seniors living in poverty – many seniors live on fixed incomes below the poverty line. Seniors financial needs are not met unless they find jobs for retirees. Retirement jobs, mature workers, working, supplement pensions, employees, employers - a big shift in the economy.

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Boomers and the Workplace

by Kristi Nielsen

Interesting changes are taking place as increasing numbers of boomers march toward the exit door, at the same time as more boomers are deciding to stay.

As the wave of baby boomers marches closer to the corporate world exit door, will there be a traffic jam similar to traffic jams on freeways at rush hour. Are the boomers just waiting for that day when they can hand in their resignation letter? Although an increasing number of studies seem to indicate that many boomers are choosing to work during retirement, most reject the idea of merely continuing to punch the clock for the same organization as they have reported to for work for the past five, ten or twenty years. Even as the definition of work and employment changes for the vast majority of boomers, the question of whether they remain in the workforce out of necessity or love for work begs answering.

First, it seems they are not as keen to retire as the previous generation. In fact, they are largely responsible for the abolishment of mandatory retirement at age 65, the very thing that many of the previous generations fought difficult battles to get the right to do. The reason why they are choosing to continue their involvement in the workforce is complex. For most their health is great and they simply do not feel ready physically or mentally for retirement.

Many have worked long and hard to achieve the accomplishments they have achieved and are simply not willing to throw in the towel as they feel they still have a lot to contribute. Others are simply addicted to work and have not developed other activities to replace the role of work in their lives and would find themselves feeling unfulfilled and lost without their job. Sadly, one of the largest contributors to the continuation of employment is financial need.
 
While it is often said that the boomers are the wealthiest generation to reach retirement, there is a bigger gap between the wealthy retiree and the retiree who is merely surviving. Status for Women (Canada) states, “Poverty rates among the elderly have been reduced over the last two decades although the majority of older women who are on their own, remain poor.”

In the US, it is no different; many seniors are not financially self-sufficient. “Some 3.3 million seniors still live below the poverty line. Several million more scrape by just above the poverty line. For many of these people, poverty is the reward for adult lives spent continuously in the workforce or raising children and managing a family” says David Callahan author of The American Prospect.

 Countless retirees are concerned that if they spend too much in their earlier retirement years, they will be in financial trouble later. Many are among those who are continuing to work. It is a legitimate concern. We all know it is easier to spend than it is to save and a few big trips or toys such as sail boats, or RV’s and the nest egg quickly dries up.

According to a Statistics Canada report, more than 300,000 Canadians 65 or older worked in 2001. Of these, 57 % were 65-69; 26 % were 70-74; and 17 % were 75 or older.  And these numbers may be on the rise. According to TD Waterhouse, two thirds of Canadians polled are concerned about finances.

Many business and political leaders are staying involved into their 70’s and 80’s. Even financial guru Warren Buffet remains actively involved in business at age 74. Rupert Murdoch at age 74 is Chairman and CEO of News Corp and Sumner Redstone at 82 is Executive Chairman of Viacom.

Analysts are quick to say that industry needs mature workers to help fill a talent pool gap. More and more employers are seeking out employees who are already experienced, trained and mature. However, it isn’t all as simple or straightforward as it sounds. There are many mature workers with a good skill set who simply cannot find adequate employment. They find themselves taking demanding low paying jobs, much below their skill level and find themselves being dismissed for a variety of reasons.

Maria and Katherine met as trainees at a new job. Maria had a university degree, but due to lack of demand and limited value to her undergrad degree in Social Work, it was not possible for her to find full-time employment in her field. The jobs she found were often with non-profit organizations, and low-paying or part-time positions. Katherine had extensive experience working in the investment industry but after the company she worked for went under, she found herself laid off and unable to find a comparable-paying job.

The job they met at was working in an outbound call center which did mainly cross-boarder marketing of manuals to American corporations. Both women had many questions about the business practices of the company, as it seemed many of their telemarketing and billing tactics violated government regulations.

Although Maria lasted twice as long as Karen, both had moved on to other opportunities within 3 months. Maria found herself working for an advertising firm selling ads. She was promised a big pay raise after three months, and completion of the first publication, only to find herself laid off just before the increase was to kick in.  

Karen took a job working in a customer service call centre, for a major bank. After three months, she was let go as she was not able to meet the company targets for add-on sales to customers who called in. When a customer phoned in with a complaint, she found it very difficult to turn the call into a sales opportunity.

It would seem like they were both just down on their luck. However, the trend continued. Karen’s next two jobs ended when the companies did major layoffs or closed their doors. In all, they found themselves on a constant treadmill of employers who pushed the limit on employment standard regulations, and set excessively high quotas. The two women were also challenged by not being able to compete with the quickness of employees who were 30 years their junior when it came to learning new computer programs and matching their typing speed.  

In the past two years Karen has had 8 jobs and Maria has had 11 jobs. Although about half of those jobs were known to be temporary when they took them, the opportunity to find job security for these two women aged 56 and 60 continues to be an ongoing battle.

This doesn’t mean that this is the situation all boomers face when they choose to make a career transition. Bryce is an engineer and after 30 years with a municipal office, he has found himself with about six opportunities in the corporate sector. He is presently exploring the pros and cons of each opportunity and looking into which one will allow the most time flexibility. He doesn’t want to work full-time, but he would prefer a schedule where he could work full-time for a couple of weeks and then take a week off. He has young children – aged 8, 11 and 13 and he wants to take time off every time they have time off school.

It does seem that whatever a person’s strengths and weakness are, they are accentuated when they near their sixties and beyond. Those who have strong skills, good educations and a long stable work history seem to continue to have many opportunities. Those who have some areas where their skills have left them behind the trends in industry, and who lack adequate computer skills often find it difficult to get jobs beyond the retail or service sectors. The sad part of this is, those who have had professional careers have for the most part been able to generate more income and should be more financially ready for retirement than those who have not climbed the career ladder as successfully.

Is all hope lost? No, not at all. There are some companies who are very respectful and appreciative of mature employees; they actively pursue this demographic in their hiring practices. There are opportunities that enable mature workers to combine their interests and earn income at the same time. While the key is having a good, up-to-date resumé, and good interview skills, it is even more important to network and do your research to find those employers where mature workers are valued. However, it doesn’t end there.

An attitude shift can be the key to the ideal pre-retirement job. Why would you settle for working, merely to earn a living? Do something that combines your interests, your leisure and your skills. Joe found his present career as a water taxi operator, to be more like play than work. It is the fifth job he has had in the past seven years since he handed in his notice at the office after working as an accountant for 40 years. Other fun jobs Joe has enjoyed have included tour bus driver, hotel concierge coordinator, RV salesman, and Historical Working Farm Interpretive Guide. Every time he finds something that he thinks he would like to do for a while, he changes jobs.

Sandra and Bill are doing it differently. They enjoy skiing in winter, and living in a small summer resort in the summer. In the winter, Bill is a ski instructor and Sandra works at her craft – ceramics. In the summer, they open their little gift shop in the summer resort and Bill makes sterling silver jewelry. Sandra’s ceramics she has produced during the winter are adequate inventory, and she acts as the clerk and window display person during the summer. Bill’s work attracts onlookers, so shoppers stay in the store longer. Sandra and Bill enjoy socializing with their customers and putting it all together has given them a way to keep active, creative and financially self-sustaining. They are really working full-time but feel like they are retired.

It is for sure; boomers are not ready to do nothing. Many who are not working for income are actively contributing through volunteer work. “In Canada, we find a picture of health, control and quality of life during later life,” the HSBC report says. “Those aged 50 to 80 are healthier, happier and fitter than ever before. Older people are incredibly active, positive, contributory adults, without whom our families, communities and our work places, could not flourish.” Our society would probably collapse without the contributions of these volunteers.

Take a look at all the important services in your community which rely on the work of volunteers. Many of these services just could not be supported with taxpayer dollars and cannot operate as business ventures. These organizations are the social capital in our communities.
As the wave of boomers continues, it will become increasingly obvious to society and industry the vast importance of the continued contributions of this group of people. In many ways due to improved health, seventy years olds are the new fifty year olds. Even as the boomers were the trend setters in the days of Woodstock, they have no intention of sitting idly by and letting their best years not count.

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