More than 10 million Americans over age 65 are employed. They are currently the fastest-growing segment of the workforce.
By the end of 2024, all Baby Boomers will be at least 60 years old, but 60 isn’t as old as it once was. Boomers are anticipating longer lifespans than their parents had and are existing in a market where job opportunities outnumber unemployed workers by approximately 3 million.
In addition, “People still want to be involved, still be social, still have a purpose,” observed Jennifer Jeansonne, owner of JAJ Consults, a small business recruiting firm. “They want to keep their brains going and be part of something.”
All of this means that for companies dealing with staffing shortfalls, older workers can be a tremendous talent resource. They typically bring experience and expertise, emotional maturity and intelligence, and an understanding of the responsibilities of employment. They can be mentors and teachers for younger staff members and may be better at serving an also-aging customer base.
“It’s different when you’re working for fulfillment rather than working to survive,” Jeansonne noted. “People who have retired see work more as fun.”
While older workers may require a little extra training to get up to speed on the latest business technologies, they are often more tech savvy than expected, and in general easier to onboard due to their previous workplace experience. Most are looking for less responsibility than they had in their previous careers and are often interested in part-time employment or contract work, meaning they can be an affordable option as well.
Jeansonne added that employers looking to this workforce segment should “be really upfront and honest with potential hires. Paint a realistic picture of the job. Transparency is really key to hiring anyone.”
Certain accommodations need to be considered; for example, older workers may not want to navigate multiple flights of stairs to access the workplace. A comfortable work environment is also essential, and many job seekers in this category want flexibility in terms of days and hours. Many prefer to work at home as much as possible.
Benefits are another consideration. Although health insurance may be less of an issue, since most seniors are on Medicare, vacation time and even grandparental leave tend to be important.
How can employers access this talent pool?
According to Jeansonne, social media may be surprisingly productive, particularly LinkedIn, though she also recommends posting opportunities on everything from Facebook to Nextdoor.
“A lot of the older workforce is not using social media, but if you are looking to fill a role, posting on your networks could lead to referrals for highly qualified, non-traditional employees,” she said. “Also, have as many conversations as possible with people you know about what you need. Reach out to businesses within the profession you are targeting for a specific skillset.”
Jeansonne also recommended contacting independent recruiting consultants to help find available talent to fill a need. She said she maintains a large network of older workers who can fill a variety of roles, from marketing to financial to operations.
While it may take a little extra effort to tap into this employee segment, they are definitely out there: One recent study indicated that about one-quarter of Americans aged 65 to 74 are actively looking for work. Their work preferences are well aligned with the post-pandemic model of flexibility and working at home.
Even this group’s preference for fewer hours matches where Jeansonne feels the workplace is headed. “Fractional work and contract work are the future of the workforce,” she predicted.
For employers struggling to maintain full staffing, these experienced, motivated workers, mature and wise enough to know their strengths and weaknesses, may be a true lifeline.
“The older workforce wants to do the things that they feel they are best at doing,” said Jeansonne. “They can be a great resource for almost any type of business.”
Keith Twitchell spent 16 years running his own business before becoming president of the Committee for a Better New Orleans. He has observed, supported and participated in entrepreneurial ventures at the street, neighborhood, nonprofit, micro- and macro-business levels.
