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Ricochet Retirees Bounce Back to Work
Volunteering, networking and soul-searching can lead to the kind of job you want.
January 2007
By Elaine S. Povich
Bruce Narasin has had five paying jobs since he "retired" a decade ago. He's been a consultant and a vice-president for sales at a technology company. Narasin, 65, has also run a couple of Internet banks.
Narasin formally retired at age 54 after 30 years at IBM, where he held a number of positions over the years, from programmer to executive. Even before he walked out the door for the last time, he knew that a life of leisure was not for him. "I've been in and out of retirement six times," says Narasin, who lives in Waltham, Mass. "I started a consulting company the day after I retired from IBM."
For many, retirement is a time to indulge in travel and hobbies. But an increasing number of retirees, such as Narasin, are returning to the workforce, perhaps to make needed money, to try something new or to simply get out of the house.
"People who are looking for work -- they try retirement, it works for a couple of months and then they get bored," says David Corbett, founder of New Directions, a Boston-based firm that helps retired executives find new jobs. "They have never felt so isolated and goal-less."
Call them the Ricochet Retirees -- older individuals who are retiring and then springing back into the workforce. Like Narasin, these working retirees often bounce to new jobs as better opportunities arise.
A Good Time to Search for Work
Luckily for them, there's probably never been a better time for older adults to look for employment. As the number of seniors increase, groups such as New Directions are proliferating. So are Web sites that provide older workers with job-search advice and match retirees with employment. Opportunities could flourish as the baby-boomers' departure from the workplace creates labor shortages. Indeed, workers 55 and older are projected to increase to 21.4% of
the labor force by 2014, up from 15.6% in 2004, according to the U.S. Bureau of Labor Statistics.
Employers who hire older workers are pleased. In a survey of employers by the Center for Retirement Research at Boston College, 56% of managers said that older workers are more productive than younger workers, while 39% said they are equally productive. "Older workers are better with people and better with customers," says Steven Sass, the center's associate director.
So how do you get your foot in the door to prove your worth? What kind of job can you expect to get? And what do you want to do -- the same kind of work or something new?
The last question may be the first one that retirees and those nearing retirement must answer. "What they need to do is find out where their passion is, what really punches their buttons and gets them really excited," says Corbett, author of Portfolio Life: The New Path to Work, Purpose and Passion After Fifty (Jossey-Bass, $25).
One way to find your passion as well as a job is to join groups such as New Directions (www.newdirections.com) and Discovering What's Next (www.discoveringwhatsnext.com), in Newton, Mass. In addition to providing job-search guidance, these organizations help older individuals identify their interests and the kind of work environment they prefer. "We engage people in navigating through this life stage," says Carol Greenfield, the president of Discovering What’s Next. You can find similar support groups in your area by visiting www.rileyguide.com/support.html and www.civicventures.org/nextchapter (click "Directory").
Sometimes volunteering is a way to test out a new career, develop new skills and burnish credentials. You can also scour the online job sites for inspiration. And networking with as many people as possible -- friends, former colleagues and college alumni -- is a good way to get ideas and to make contacts that could eventually lead to work.
All of these activities prove one rule about the job hunt: Get out there. Do anything to keep in circulation. "Keep your feet moving," advises Gene Bernard, publisher of SeniorJobBank.com, an online job-search site for those over 50.
Being out there led Narasin from one opportunity to the next. He first consulted for his former employer. That work became the springboard to sell for an Internet software company. During a pitch to a prospective client, he was asked to work for the customer's firm to set up an Internet bank.
For those who don't want full employment, consider working on a contract or project basis. If such work is not available with your current employer, you can approach other companies that hire people with similar experience and background. "You should point out to the companies that you're willing to work for less than what you were making before and that you don't need the benefits," says Art Koff, who runs RetiredBrains.com, a jobs board, and author
of Invent Your Retirement: Resources for the Good Life (Oakhill Press, $17).
Volunteering at a small business or a nonprofit organization is a way to try a new line of work. You could tell the firm that you'd like to work several days a week for a few months until you find paid employment. "It's a way to keep your hands in, and it gives you something to put on your resume," Bernard says. And it could turn into a paid job.
Be open to new options, and you may find an interesting job that you might not have considered before. After 33 years as a hospital administrator, Rich Schmidt retired in 2005 and played golf and traveled for a while. One day he saw a help-wanted sign outside the YMCA in Dunwoody, Ga., a suburb of Atlanta.
Schmidt learned that the Y was looking for a lifeguard. He always loved to swim, he thought. After taking a lifeguard course and becoming certified, he now works 12 to 15 hours a week. An added bonus: free gym privileges. "I get to meet people, then I walk away from the job, and I don't have the managerial responsibilities my boss has," says Schmidt, 59.
Try Senior-Friendly Resources
Online job banks that cater to seniors are another important resource for Ricochet Retirees. Besides RetiredBrains.com and SeniorJobBank.com , take a look at Seniors4Hire.org, SimplyHired.com/fiftyplus and RetirementJobs.com. In most cases, you can post a resume on the site; prospective employers can then contact you. You can also scour the sites for job openings listed by employers. If you see a tantalizing ad, you forward your resume to the firm.
A recent search of RetiredBrains.com found many postings from employers across the U.S. A laboratory in Ohio was advertising for a biologist, while an insurance company in Arizona was looking for an appraiser. At SeniorJobBank.com, employers in Florida were scouting for executives and salespeople.
Some senior-oriented job boards provide niche services. YourEncore.com was created by Procter & Gamble and Eli Lilly to recruit scientists and engineers. The client list has since expanded. Alumni In Touch ( www.alumniintouch.com) helps employees of big companies stay in contact with former colleagues.
Alumni In Touch was how Ian Piesse found work when he retired at 53 from a 28-year human resources career at Shell. Today, he works from home in a fishing village in Devon, England, interviewing candidates for other jobs at the oil company. Through the Web site, he says, "I contacted a few of my ex-colleagues at Shell. It was amazing how quickly it worked. Six weeks and I was back working again."
Many of the job-board sites and other retiree-oriented Web resources provide tips for writing a resume and presenting yourself to businesses accustomed to hiring younger employees. One excellent resource for job-search guidance is AARP (www.aarp.org/money/careers, click "Finding a Job").
Although more employers are receptive to older workers, age discrimination still exists. Experts advise that you point out all the positives you bring to the job: experience, steadiness and trustworthiness.
For instance, if an interviewer says, "You are overqualified," that's code for, "You want too much money." You might mention that you're not in this for the salary or the benefits. If the interviewer says, "This is a high-energy job," that's code for, "You're too old." You might say that you play tennis three times a week, for example.
You can make yourself more marketable by polishing or acquiring skills. You can take courses at a nearby university or community college. Many campuses also have career-counseling and employment-placement services. Another option is to take a Web-based "distance learning" course. AARP's Web site provides links to such education resources.
If you spend the winter in the South and summer up North, you may want to check into employer "snowbird" programs. A growing number of larger companies allow employees to transfer back and forth between locations. At CVS Pharmacy, the program applies to all workers, from pharmacists to clerks.
Dave Johnson, 58, sold his two pharmacies in southern Michigan nearly a decade ago and moved with his wife, Linda, to Naples, Fla. He became bored, so he took the pharmacist licensing exam in Florida. Now he works as many hours as he wants for CVS in Naples. In the summer, he works at a CVS store in Tecumseh, Mich., and visits his grandchildren. He gets health and retirement benefits. "It's a great deal," he says. "It's like having a regular job without the worries."
Go to Kiplinger.com
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