It’s not unheard of for someone to retire from the workforce and then start looking for another job a year later.
While ageism does exist in the workforce, there are also many employers who value the contribution mature age workers can make. This article looks at some of the reasons employers should consider hiring retirees, and some steps that mature age workers can take to improve their chances of landing a job.
Reasons for returning to work
A common reason for returning to work after retirement is lack of financial security. A survey conducted by New Zealand Seniors found that more than one in five of those who were already retired said they had re-entered the workforce, with almost 30% admitting they were forced to do so due to financial pressures. Sydney based research also found that a growing number of women in their 50s and 60s were staying in their jobs longer and returning to work after retiring, not because they loved working, but because they didn’t have enough money to retire on.
Other reasons for returning to the workforce can include:
● Missing daily social interaction with colleagues and friends
● Feeling bored and without a purpose
● Wanting time away from home
● The desire to contribute and feel valued.
What retirees can offer employers
If you’re a business owner looking for reliable workers, retirees have a great deal to offer.
Experience – as well as hard skills learned during previous employment, mature age workers often have attributes that can only be learned from experience such as wisdom, maturity and life experience.
Stability – many mature age workers believe in long-term loyalty. According to the Department of Education, Skills and Employment, mature age workers are 2.4 times more likely to remain with an employer, take fewer sick days and come back to work sooner after being ill.
Leadership – by the end of their careers, many retirees have developed strong communication and leadership skills and are usually more than happy to share their knowledge with younger colleagues through programs such as mentoring.
Emotional intelligence – mature age workers have had time to develop their intelligence and emotional maturity and this can result in higher productivity, better teamwork and improved conflict resolution in the workplace.
Work ethic – mature age workers still possess the strong work ethic of previous generations and they are willing to work hard for their pay and be good team players.
Financial benefits – mature age workers can also benefit your business financially. Workers aged 45 and over have a net financial benefit of $1,956 per year to employers. Government funding of up to $10,000 is also available for businesses who hire workers aged 50 years and over.
Tips for returning to work
The following tips may prove useful for brushing up your skills when planning to return to the workforce.
Revisit your industry – things change every day in business, so take a fresh look at your industry to see what’s new and what you might need to get up to speed on to compete with other (younger) applicants.
Consider skills training – if your research reveals gaps in your knowledge relating to industry trends or technological shifts, consider taking a class or online course to update your knowledge.
Update your network – make sure potential employers are aware you are looking for work, including on LinkedIn, social media and when attending industry events.
Know why you’re applying – don’t just say you need the money. Have reasons why you want to return to work that involve challenging yourself, and in particular, bring value to an employer.
Emphasise your strengths – as a mature aged worker, your greatest strengths are your knowledge and experience, so make sure potential employers are aware of them on your resume and when being interviewed.
Employers should give retirees a chance
Returning to the workforce is not for everyone. Many seniors are perfectly happy in retirement and are spending their days pursuing interests they previously did not have the time for.
But others are setting the alarm clock, either due to financial necessity or simply to have a reason to get out of bed.
Whatever your motivation, if you’re a senior who is planning to return to the workforce, know that it will be both challenging and rewarding, and that your age will be your greatest asset.
If you’re an employer looking for someone who will show up, work hard and share their experience with your team, hiring a mature age worker could be a cost-effective way to give your business a valuable, competitive edge.
