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Second Careers After 50

© Deborah Lapoint

We boomers are of two minds when it comes to retirement. We like the idea of more freedom to pursue leisure and avocational activities. But many of us enjoy working, or would like to try a new career, at least part time. This article discusses ways our work experiences change as we enter a second career, and offers reasons why older workers benefit employers.

Life expectancy now averages 74.5 years, and more of these years are productive because of advances in health and fitness. The Andrus Center of the University of Southern California estimates that a minimum of 8 million people over 65 want to continue working, and a Harris Poll showed that 70% of preretirees hope to work after retirement.

Then there's the issue of finances. Most future retirees will not be able to depend solely on Social Security to maintain their current standard of living. There's clearly a financial incentive to keep some income coming in.

Benefits of Hiring Older Workers

According to the American Association of Retired Persons (AARP), older workers have a lot to offer, and employers are getting a good deal when they employ a worker over 50. They've gathered the results of various studies, which have shown:

• People who were capable of learning at a younger age, and who continue to use their intellectual abilities, maintain their ability to learn in later life.
• Once in a training program, older workers are more likely than younger ones to complete the training. Once trained, mature employees are likely to remain with their employers longer than are younger trainees.
• Older workers enjoy higher morale and a greater sense of organizational commitment and job involvement than workers in any other age group.
• Workers over 50 tend to have less alcoholism and longer tenure on jobs.
• Older workers are much less likely than younger workers to leave the organization, which reduces recruitment and retraining costs.
• Employees in their late 50s and 60s are, by far, more conscientious and hard-working than younger workers.
• Because of their greater experience, older managers are more capable of evaluating available information when making decisions than are younger managers.
• Workers over 50 have lower absenteeism and higher work ethics than their younger counterparts.
• Older workers demonstrate higher productivity and more patience.

Experiences of Older Workers

The AARP sponsored a survey of 6,347 of their members about their experiences with a second career after 50. Some of their findings were:

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