Posted under Career Management, Career Planning, Compensation on September 7th, 2007
Are career opportunities for older workers expanding?
I read a recent article offering strategies for career changers over 50 and it piqued my interest - seeing as I am among the 50 something set! This and other articles have stated that the shrinking pool of employment will open up more opportunities for older workers and that older workers offer benefits over younger workers - more loyal, dependable, and likely to stay in a position for a longer period of time. But is it really true that employers will be receptive to welcoming older workers back into the work force, even if there is a shortage?
A great majority of my clients over the past ten years have been 45 or older, unfortunate victims of corporate down-sizings. The majority of them were in the prime of their careers, having been steadily and progressively employed in their fields. As their coach, I helped many of them make successful transitions to similar employment or to new careers in some cases. Unfortunately, some of them were in the same position again when they were laid off several years later. They were in the vulnerable role of “last hired, first fired” or simply in a volatile industry such as the technology field several years ago. Sales people seem to have the toughest time as they get older. Many find they can’t continue to exceed sales quotas that are constantly being raised especially when they are competing with their younger highly ambitious sales counterparts.
So what kinds of opportunities are out there for the older, semi-retired or career changing 50 or 60 something professional? A 2003 survey by AARP identified the 25 best companies for older workers based on benefits and work/life balance. The companies represented in their survey are concentrated primarily in the health care, financial, and higher education fields, as these are suffering the greatest impacts of the worker shortage. And technical expertise is always in demand, providing options for consultants, as long as their expertise has not been outdated.
If you are in one of these select fields, you may feel some relief if you are looking to work for awhile or returning to work after retirement. But if you are an aging sales representative or in a more volatile industry, you are still at risk. A study conducted in 2006 by the University of Michigan found that only half of older workers (56 or older) that were displaced found new jobs at their level.
What can you do if you are at risk? I recommend you visit an excellent online resource on the Quintessential Careers site Job and Career Resources
for Mature and Older Job-Seekers — Including the Baby Boomers. It has some great tips and information. You can also develop new skills such as technology skills or other technical skills that are marketable. Finally, if you find yourself unemployed, unhappy in your job or at risk of losing your job and don’t know what options are out there, hire a career or life coach who can help you find your passion and support you to make a successful transition. It’s worth the investment.