What exactly is an encore career? It is defined as another career after leaving
your career. For most Americans,
retirement is not an event but a process with transitional steps. Before leaving the workforce, planning is
essential. Role loss, role changes, and
living without a paycheck are three major adjustments. Fr. Monsignor
Charles J. Fahey, one of gerontology’s greatest minds, has reinforced the
importance of “diversifying” interests before retirement to make the transition
smoother. A combination of both social
activities and mentally challenging activities provide a protective factor
against dementia and depression.
Retirement patterns are changing and instead of retiring
and leaving the workforce at age 65, many older adults retire in “stages.” The employer often initiates this arrangement
if they need to retain the employee or sometimes, the older adult proposes it
as an alternative. Options include transitioning
from full-time to part-time work, work “as
needed” on special projects, or work from home and “telecommute.” Employers are embracing the value of older
employees and are gradually becoming more flexible about where and when. Civic Ventures estimates that about 25%
start their own businesses after leaving the workforce.
The workforce is getting older because the older
population in the U.S. has dramatically increased. For example, the U.S. Census projections
indicate that between 2010 and 2030, people who range from 20 to 64 years of
age will increase by ten percent.
Conversely, the population of older adults age 65+ will increase eighty
percent!
Good health is essential for retaining or seeking
employment. Recent technological
improvements have actually helped older adults remain in the workforce. They include:
· Computers
– allow employees to work at home or work while traveling.
· Hearing
aids – maintaining them and wearing them is essential, especially if
working with the public.
· Cataract
surgery – No longer a big deal! This procedure is simple and requires very
little down time.
· Joint
replacement surgery – This is common today and has helped millions of older
adults [and younger ones, too] retain optimum health and avoid disability.
How to plan your encore career:
· Inventory
your assets. What
are your strengths and weaknesses?
Identifying those traits is essential in order to illuminate positive
traits and work on the negative ones.
· Consider
motivation. Many older
adults must continue earning for a variety of reasons. Is compensation and/or benefits the reason
for retaining or seeking employment? Or is fulfilling a passion the motivation?
· Spread
the word. Networking is
essential, as most prospective employees are hired by networking
themselves.
· Keep
yourself marketable.
Update the wardrobe, skills, vocabulary, and software!
· Believe
in yourself.
Learn to toot your own horn without coming across as an egomaniac. Tell prospective employers and friends about your
skills and abilities. Smile!
Encore career resources:
Purpose Prize http://encore.org/prize
Encore http://encore.org
Civic
Ventures: Americans Seek Meaningful Work in the Second Half of Life https://www.metlife.com/assets/cao/foundation/Encore_Survey.pdf
Encore
Careers: Civic Ventures Study Finds Transition is Tough http://www.huffingtonpost.com/2012/03/21/encore-careers-study-civic-ventures_n_1370162.html
Pathways
to Encore Careers: Metlife Foundation/Civic Ventures
Boomers
Turn to Encore Careers After Retiring
More
Americans 75 and Older Keep Working http://www.usatoday.com/story/money/personalfinance/2013/01/13/older-workers-stay-working/1780291/
Why
More Americans are Working Past age 65 http://money.usnews.com/money/retirement/articles/2013/02/11/why-more-americans-are-working-past-age-65
