Retiring doesn’t necessarily mean leaving the workforce for good. Retirement is often a great opportunity to re-enter the workplace, and there are many advantages for retirees and employers alike when they choose to return to work. Find out why retirees are returning to the workforce in this guide!
One of the most obvious advantages for retirees when returning to the workforce is financial – if they can commit to just a few hours per week, or days at a time, then it can mean a significant boost to their retirement income. For employers, it can be an advantageous solution as well; retirees often come with experience and skills that are necessary for specific roles, yet tend to require lower levels of pay than younger recruits.
Retirees coming back to work often have the potential to be reliable, motivated employees. They don’t have the distractions or obligations of those just starting out in their career and so may be able to focus exclusively on work, where dedication and experience become therefore invaluable assets. For employers, hiring former workers can also be beneficial as they will already know the workplace and its culture. This means that employee onboarding costs are minimized as there is no need for huge learning periods – retirees can simply pick up where they left off.
Perhaps even more importantly, returning to work can give retirees an emotional and self-esteem boost that only comes with meaningful activity. Working alongside colleagues of any age can help them stay connected with society, which is often seen as one of the main causes of a decline in mental health upon retirement. It provides a sense of purpose and belonging that may have been lacking in their life until that point.
Retirees who are returning to the workforce, especially those who have been out of it for some time, can feel intimidated or find the process daunting. Amidst all the changes in terms of trends, technologies, and techniques, they may worry that they don’t have the skills or experience needed to succeed. Well-designed return-to-work programs can give retirees support, guidance, and training to successfully re-enter their chosen profession and gain a sense of personal ownership and self-direction that comes with taking part in meaningful activities again.
Returning retirees often find that seeking gainful employment can actually be a great boost to their self-esteem. They’ll have the chance to contribute meaningfully and make a significant contribution to the workplace, drawing on their years of experience and accumulated knowledge. This sense of accomplishment allows older workers to engage with new ideas and techniques with clarity of purpose and, in turn, realize greater success while reconnecting with their peers.
Keeping up Professional Skills and Contacts
Retirees that return to work can maintain their skills and improve them where necessary. Skills will start to fade if not used on a regular basis, and returning to work will help keep up those skill levels for retirees. It’s equally important for retirees to remain in contact with former colleagues and industry connections; this provides the opportunity to stay current on new developments in their chosen field. Having the potential to call upon experienced contacts is invaluable in many industries.
It’s a good idea to take advantage of continuing education or ask to attend conferences and seminars. These serve a dual purpose – they keep retirees current on new techniques, while also strengthening their professional network. Keeping up with various technology trends as well as legal and industry regulations is also essential. Since retirees have the luxury of time on their side, it might be beneficial for them to pursue new skills in areas that weren’t available at their previous workplace. Taking language courses, reading extensively about the industry, or even starting a blog are all ways retirees can continue to grow professionally.
Opportunity to Pass Down Knowledge and Experience
Retirees that return to work can help bridge the knowledge gap between generations in the workplace. They bring their experience and wisdom, which is invaluable for their younger colleagues, who may not have had exposure to a wide range of opportunities or challenges. In addition, retirees are often more patient when it comes to problem-solving and team collaboration, therefore increasing productivity within an organization.
Working in a new environment after being out of the workforce for an extended period can lead to retirees finding new interests, passions, or even livelihoods that they never anticipated. Benefits such as flexible hours and financial gains provide a good incentive for older generations to spend more time in the office while learning from and mentoring younger generations along the way. Not only is this mutually beneficial, but it is also necessary in order to ensure the longevity of many companies today.
Bridging Transition Between Generations in the Workplace
By utilizing the unique skillset and perspectives of retirees, organizations are able to create a bridge between different generations in their workplace. With more seasoned workers sharing their skills and abilities in day-to-day operations, current employees gain more insight into how best to approach problems, how to strategize for the future of the organization, and how to develop meaningful relationships with colleagues. In short, employers benefit by having an experienced staff that is invested in helping to train and mentor new employees.
Retired workers also benefit from a return to the workplace. This helps them stay active, engaged, and connected to their local community. Having an income stream can be beneficial to retirees who have limited financial or other resources available for other activities in retirement. Additionally, having an opportunity to gain additional experience and skills can help them further their career goals or contribute to new ones. Working with other employees and developing meaningful relationships – regardless of age – provides an invaluable sense of purpose and connection that can lead to immense satisfaction.
Now that you’ve considered why retirees are returning to the workforce, are you also looking for work? If you’re interested, we’re hiring! NESC Staffing has an A+ grade from the Better Business Bureau, was awarded by Forbes as America’s Best Recruiting and Temporary Staffing Firm, and has been successfully putting people to work since 1984. You can see all our job openings or send us your resume at nesc.com.