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Silver-Collar Workers at All-Time High
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A couple of years ago I found myself peddling books at a local travel bookstore. Among the perks—including all of the globes and atlases one bookshelf and many accommodating friends could handle—were my coworkers: Reg in particular. A former college professor, Reg is in his mid-seventies and sharp as a tack. Wanting to supplement his retirement allotment, augmented by his desire to live in San Francisco, one of the most expensive cities in the US , Reg wanted to work. And he loved it. So did our customers: people came to the store specifically to speak to Reg, who had an anecdote for nearly every city, state and country described in the books we sold. He was never more than a minute late to work, and was extremely knowledgeable and personable. Reg made the sale!
This got me thinking about the growing number of older Americans like Reg who are still part of the workforce. Interestingly, workers older than 55 number 24.6 million, and a quarter of those workers are 65 or older. That means by 2040, there will be 65.8 million workers over age 45—an increase of 30 million since 1990—that will represent an astounding 40 percent of the US labor force.
For many seniors, work is an economic necessity to supplement existing meager insurance benefits. For others, obtaining health insurance in the first place and being socially active are key motivators. Staying mentally and physically active and remaining productive were cited as the major reasons to work by retirees in a recent AARP study. As the number of older adult workers grows, soon more than one in four retirees will still be working, making it harder for younger job seekers to gain employment. And, even some people who live in long-term care facilities make it a point to put their experience to work.
Employers find many benefits in hiring older people—some of which include their life experience, flexibility about working different schedules and a stronger work ethic, according to a survey by the Society for Human Resources Management. To help, the AARP created the National Employer Team, a group of companies that appreciate the talent mature workers bring to a job—and not just jobs that are specific to senior employment. Companies ranging from Home Depot and Verizon to Walgreens and MetLife promise that seniors will be given fair consideration when applying for a job.
This is great news for Reg as the aforementioned travel bookstore is no more, and his life skills, intelligence and motivation are at the ready for some lucky employer.
To your good works and good health!
Ami Icanberry
Posted in: General, Senior Care News, Senior Trends
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I, too, am over seventy and continue to work part-time. Companies who push out older workers and invest only in youth must change or they’ll find themselves running out of workers as baby boomers age.
Excellent point, Jim. There is an incredibly youth-driven culture in many companies. It keeps older workers out of the picture because of a lack of culture fit.