Survey Finds More Mature Workers Plan To Work Post-Retirement

Survey finds more mature workers plan to work post-retirementBy Debra Auerbach

"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 once retired. 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:
  • 1-2 years – 26 percent
  • 3-4 years – 23 percent
  • 5-6 years – 22 percent
  • 7-8 years – 7 percent
  • 9-10 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.

Rosemary Haefner, vice president of human resources at CareerBuilder, offers these tips for mature workers looking to stay working post-retirement:
  • Leverage 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 completely 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.
Debra Auerbach is a writer and blogger for CareerBuilder.com and its job blog, The Work Buzz. She researches and writes about job search strategy, career management, hiring trends and workplace issues. For more advice on what mature and experienced workers can do to stand out, check out this video:




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Proud Conservati

I find it amazing that older retired citizens seem to find work in order to pay their bills and be independent, but the younger crowd absolutely can't seem to find anything to do. I would be ashamed if I sit on my behind waiting for the government to take care of me while watching all these elderly people who still have the morals and backbone to get out of bed and support themselves.

March 01 2012 at 2:15 PM Report abuse rate up rate down Reply
grazillda

I am over 65 and working full time because I can't afford to retire. I did not live extravagantly or waste my money. I had a low-paying social service job I loved and was good at doing. I had a husband with huge medical expenses not covered by insurance. I had kids who needed food, clothing, braces, and a safe place to live. I don't regret my situation because hoarding money instead of supporting my family would have been out of the question. I assure you, I'm not living modestly because of my "stupidity." It's simply a fact of life for many of us in our later years.

March 01 2012 at 1:52 PM Report abuse rate up rate down Reply
wongtpa

Face it, most will not retire at 65. Working to 70 and beyond will be common. We lost our home equity and can't afford to retire. Thanks Obama. Your change devastated us all!

March 01 2012 at 1:44 PM Report abuse rate up rate down Reply
cathleen630

Please tell me, who writes these articles? I really must stop reading Huff , they are totally out of touch.

March 01 2012 at 12:59 PM Report abuse -1 rate up rate down Reply
noknrc

It seems the magic number of 65 means nothing these days. Twenty years ago people did look forward to retiring at 65. Many were worn out and actually looked their age and retired due to health. today it seems people coming up to 65 look healthier and do not look their age. Most choose to keep working just to give them something to do. The problem is this is now upsetting the balance this country was used to. With people living longer and working later in life it add to our unemployment problems.

March 01 2012 at 12:10 PM Report abuse rate up rate down Reply
1 reply to noknrc's comment
anyteampa

Yes, that and our politicians!

March 01 2012 at 12:38 PM Report abuse +1 rate up rate down Reply
tlowmeyer

Lets face it people, we all have the opportunity to SAVE money when we are working stiffs. Unfortunately MOST choose to satisfy their baser need to keep up with the Jonses and to do things that make them feel good at any particular moment. Most of us think "I can always start saving tomorrow" - Today I WANT that brand new shiny SUV that will cost me $45,000 and make me look and feel cool! Unfortunately tomorrow gets here all too fast and then the non-saver looks to balme everyone else for their own stupidity

March 01 2012 at 11:37 AM Report abuse +1 rate up rate down Reply
3 replies to tlowmeyer's comment
tlowmeyer

Lets face it people, we all have the opportunity to SAVE money when we are working stiffs. Unfortunately MOST choose to satisfy their baser need to keep up with the Jonses and to do things that make them feel good at any particular moment. Most of us think "I can always start saving tomorrow" - Today I WANT that brand new shiny SUV that will cost me $45,000 and make me look and feel cool! Unfortunately tomorrow gets here all too fast and then the non-saver looks to balme everyone else for their own stupidity

March 01 2012 at 11:37 AM Report abuse -1 rate up rate down Reply
1ConcernedCitizen

Hogwash. Retirement? Phasing out and raising the age for such is literally killing our aging population who have to work well into their 70's in order to survive with or without the compulsory entitlement of benefits for which they have paid into. Face it...Retiring is a thing of the past, it exists for those who invested their monies and profited by doing so, aka...the ones who have money in the bank. Slowly, the aged population is being forced into early deaths because either way survivability based on retirement benefits is just not sustainable.

March 01 2012 at 11:13 AM Report abuse rate up rate down Reply
Melanie

Many speak of the "Two Americas" being differentiated by income. There are "Two Additional Americas" differentiated by age discrimination. Age discrimination is so prevalent in the US, it is accepted as standard operating procedure, not only for corporations but for government agencies also. I don't know about federal agencies, but state, county and town governments along with corporations begin thinning out the herd at age 50. If you are 55 and still working with the same career/job for 30 years, you are either an owner, politician or a very rare human specimen .. The former 50-55 yr old employee scrambles for 10 or 15 years at jobs just for meager medical benefits and prays every day for wellness. Then once they get on Medicare, they struggle to afford the Supplemental insurance rates and prescription co-pays because of the rate of inflation and rise in cost of living expenses. Currently, politicians are kicking around the idea to raise retirement age to 70 years, some are stretching it to 72 years. Then what?

March 01 2012 at 10:51 AM Report abuse +2 rate up rate down Reply
2 replies to Melanie's comment
1ConcernedCitizen

Of course the kicked around idea of raising the retirement age is just that "being kicked' around in order to attempt to eliminate pay outs...that is the feeble attempt to save government funds, of which the people paid into that qualify all for such entitlements to begin with. People today not only are unable to retire well into their 70's, but those who must do so due to the aging process in itself cannot sustain some stability in living on those compulsory entitled benefits to begin with. Whats next? Let's think about it...older aging individuals who either work or dont work into their 70's, health issues related to aging coupled by stressors related to not being able to survive...hmmmm the aging become unhealthier, that would feed into the other governmental run entities or so called overseen insurances medicare, medicaid, etc. Why not let them work into their 80's maybe should they die along the way and then those benefits they were entitled to in their 70's could be off the charts hence no longer be paid-hence...saving the government money and funds...

March 01 2012 at 11:08 AM Report abuse +1 rate up rate down Reply
Sally

And the issue is: Where are the jobs for seniors going to come from? This article claims that employers are all excited about hiring older workers for their experience and to mentor younger workers--that has not been my experience. Age discrimination is definately out there. They may say "over-qualified, but that's just a polite (and legal) way to say "You're my grandma's age and that kinda freaks me out. And you'll be feeble and expensive. I can hire someone young and fun cheaply and it will be easier for me to boss them around." My last interview was with a young man who informed me it was his first HR job right out of college. I dressed nicely, dumbed down my resume to cut out 10 old years of work experience, and was my highly qualified and energetic self. I was completely qualified and would have done a great job in the position (it was exactly suited to what I had been successful at in the past.) I could tell from the moment I sat down with him that he would not hire me. I have done a lot of hiring myself--the first impression is very important. And the first impression was that I was old enough to be his mom--maybe even his grandmother. I followed up a few weeks later (it was a retail management job, so I was able to go the store and see who was hired) and sure enough, mid twenties, gum chewing and chatting on the cell phone. Store a mess, no customer service. They'll be doing the hiring again in less than a year, I'm sure...

March 01 2012 at 12:07 PM Report abuse rate up rate down Reply
pj512

Things are so different now. You don't work for a company for 30 years and then get retirement from them. We have a "fund your own retirement" system now, with the 401(K) and IRA plans. And we have to depend on the stock market to make any money on those. So, I believe the main reason people are working longer is because they have to, not because they want to. I'm 58 and have been unemployed for 2 years. I'm happy about that little sentence in this story about companies hiring more of us this year, but I don't really believe it. My parents' generation was the last one to get it right. Both of my parents worked for the postal service for 30+ years, so they both have great retirement payments coming in each month. Private business does not have any kind of pension plans any more.

March 01 2012 at 9:59 AM Report abuse rate up rate down Reply