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Working in retirement is a new reality for aging baby boomers. The great recession has affected the job situation for many retirement-age people. Actually, employers aren’t as opposed to older people in the workforce as you may have thought.
In a survey of 1000 HR directors in 2011, companies are aware of the loss of talent they face as baby boomers retire. Fearing a loss of knowledge and skills, more than half of the employers are going to keep their older workers through part-time employment or as consultants.
On the other side, a MetLife Retirement Readiness Survey in 2010 indicated over half of people facing retirement responded they would like to continue to work. Thirty-percent of the respondents have discussed options with their employer and intend to continue working full-time or part-time in retirement. Another one third are exploring other career and part-time options beyond their current employer.
What people say they are going to do isn’t always what they actually do. In 2009, Pew conducted a survey and determined that 39 percent of workers under 65 anticipate working in retirement. These people thought they’d find another job and start a new career. In fact, only 14 percent of those over 65 actually had done this.
Working in retirement will continue to be a significant aspect of aging for baby boomers. Since the first baby boomers turned 65 in 2011, both employers and retirees are exploring options and experimenting how to meet the needs of both the company and individual.
The post Working in Retirement: New Reality for Boomers Over 50 appeared first on RLM Now.
