Over 50? You’re a Hot Ticket in Today’s Labor Market

An older man working on a computer at a desk in an office smiles at a co-worker.

(Image credit: Getty Images)

published 28 August 2023

I still remember my first meeting with a financial planner when I was in my 20s. My big plan then was to retire at 55.

Then I actually turned 55, and while I was pleased to see that my planner had indeed helped me realize my financial goals, they weren’t aligned with my life goals any longer. At age 55, I was just getting started, not winding down. I left the longtime security of a corporate job and bought my own business, advising other leaders who had been recently displaced and helping them find their own meaningful second acts.

There are many people like me who found more strength, vision and purpose after age 50 than they’d ever experienced before. However, if you’re in that age range and in the market for a new job, you might be worried about everything you’ve heard about hiring managers and HR directors who avoid any résumés from older candidates. Ageism is real. But, right now, there’s a unique confluence of events that give older adults a real advantage in the job market.

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Here's why this is your time: The Great Resignation of 2021 was a triggering incident that caused many older workers to leave the workforce entirely. That excess of retirements left many companies in the vexing situation of having lost a great deal of generational expertise. Some have lost an entire layer of leadership, and now they’re scrambling to train and prepare their next generation of employees.

Full-time employment. If this is what you’re seeking, know that it’s entirely possible to find a new full-time role. The best way to do this is to be open to new possibilities. Let’s say you were a C-suite executive at a global firm, and you’re now looking for a new full-time job. In addition to a lateral move or a promotion to a larger company, consider smaller or boutique-sized companies that would love to have your skills and smarts. The key is staying open to opportunities as they arise and being willing to think of yourself and your talents in a new way.

For example, you could hang out a shingle and launch yourself as a consultant. Or you might consider contract work, either directly with a company or through a temporary services agency.

Another possibility is interim work, when companies need to fill a leadership-level position for a few months, or until they can hire and train a full-time replacement. You might even be interested in being a fractional leader. Look for smaller companies in your field that might not be able to afford you full-time, but can benefit from having you in the office several hours a week.

If you’re anything like I was in my 20s, you probably worked closely with a financial planner to ensure you’d be set up for a comfortable retirement. If you’ve already met those financial goals, you might have the freedom to let financial considerations move a few spaces down on your “requirements for a new job” list.

Maybe you want to work remotely, or closer to your home. Perhaps you’re looking to work in an industry for which you’ve always had a passion. In your new over-50 job, you can finally put those factors front-and-center.

If you’re an over-50 jobseeker, trust me when I tell you that the future is bright, because market conditions make this a great time for older workers to re-enter the workforce. The recent Wall Street Journal article Bosses Want Hard Workers—So They’re Hiring Older People points out that the stronger, more dedicated work ethic of older workers is especially prized: “Certain businesses are targeting seniors on the premise that age is an asset.”

Disclaimer

This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

Anne deBruin Sample, CEO and owner of Navigate Forward, is an experienced HR leader and Career Transition Expert. She has written for CEOWorld magazine and has been published in Fast Company and The Wall Street Journal. Her experience includes high-level positions at PepsiAmericas, Caribou Coffee and Whirlpool Corp.