How Will Retirees Re-entering the Workforce Affect Hiring?
A growing number of retirees are re-entering the workforce and going back to work. Some are making this decision to live a more fulfilling life in retirement and stay busy, while others seek a new career due to insufficient retirement savings.
As more retirees re-enter the workforce, Human Resources and hiring professionals need to adapt.
Top Effects of Retirees Re-entering the Workforce on Hiring
Nearly 26% of retirees later returned to work. This trend reflects the growing number of retirees who decide to come back, with a recent study showing that 34% of retirees have considered going back to work.
1. Reach Out To Older Workers
As retirees re-enter the workforce, some seek a position with their previous employer. With 90% of small businesses struggling to find qualified candidates for open positions, reaching out to workers who left to retire can be a great strategy to address your staffing needs.
These former employees will already be familiar with the workplace and could even be a good match for an Executive Search.
2. Offer a Flexible Workplace
You can attract retirees by offering a flexible workplace. Perks like a flexible schedule can help retirees find a healthy work-life balance, and benefits that reflect their changing health needs will also help you stand out. Focusing on workplace wellness programs can also result in a more positive environment for everyone.
3. Rethink the Way You Assess Skills
As retirees re-enter the workforce, hiring managers often find themselves unsure of how to assess their skills.
You can benefit from adopting a more flexible approach that will take a retiree’s extensive experience into consideration. You can also look for transferrable skills for skills that might seem obsolete.
4. Help Retirees Find a New Career
Many retirees left a job that simply disappeared. The employer might have outsourced their position or replaced them with an automated process.
You can make a difference by helping these retirees transition to a new career. You can launch a back-to-work program with some career search tools or by providing training.
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