“Retirement” used to mean the end of one chapter in life spent working and the beginning of a new chapter spent with family and friends, traveling or focusing on hobbies. Yet for many of today’s mature workers, their picture of retirement looks very different. It no longer means the end of their career; instead, they are either staying longer at their current jobs or getting new jobs. In fact, a new CareerBuilder study found that 57 percent of workers age 60-plus surveyed said they would look for a new job after retiring from their current company.
When asked how soon they think they can retire from their current job, 11 percent of workers surveyed said they don’t think they’ll ever be able to retire. Other answers included:
- One to two years — 26 percent
- Three to four years — 23 percent
- Five to six years — 22 percent
- Seven to eight years — 7 percent
- Nine to 10 years — 7 percent
- More than 10 years — 4 percent
Employers see value mature workers offer
Yet in this sluggish job market, mature workers have to compete with younger workers for jobs. The good news is that employers see the value mature workers can bring to a company, with 43 percent of employers planning to hire workers age 50 plus this year. One concern mature workers may have when going back into the job market is that they may be perceived as overqualified. Yet 75 percent of the employers surveyed would consider an application from an overqualified worker who is 50-plus.
Using your experience to your advantage
Of the employers who said they would consider an application from an overqualified candidate, 59 percent said it’s because mature candidates bring a wealth of knowledge to an organization and can mentor others. When applying and interviewing, mature workers should highlight both their work and life experiences to help sell them as the right candidate for the position.
- Highlight your professional and real-world experience. When updating your résumé or interviewing for a job, think about your experience in terms of both work-related and life skills. Whether it’s your strong leadership skills or your wherewithal to weather a tough economy, play up the strengths that come with having more years under your belt.
- Bring value to your company in other ways. If you’re looking to stay with your current company beyond retirement, find new ways to contribute to the organization, outside of your day-to-day tasks. Spearhead a mentorship program or offer to train new hires.
- Consider part-time or freelance work. For workers who aren’t ready to stop working, part-time employment may be a good solution. Forty-nine percent of workers age 60-plus said they will most likely work part-time once retired. Check out job boards, talk to staffing firms and tap into your social and professional networks for part-time, freelance or temporary work.
For more advice on what mature and experienced workers can do to stand out, check out this video: