Postponing retirement may not be an option
The current economic downturn has upended two groups severely. One is seniors who must now postpone retirement or go back to work due to economic circumstances. The second is older workers who were laid off from firm from which they had expected to retire, and must now re-start the job search process.
The fact is that this is not an easy situation as I see more and more of individuals from these groups. Unfortunately, there is no magic formula. The truth is that the job seeking skills, networking skills and resume writing skills of the past must be dusted, up date and put into action. Other than starting a business, always a viable option, there is no other choice.
We are approaching a time in which an unusually large number of the working population is facing retirement. This group, roughly from 50-65, is a growing community and the challenges they face are also growing as we struggle in this tough economy.
I believe that the post career decision process is only a little different than a career decision for a younger person. Obviously, some can seriously consider only volunteer work, which can be a wonderful option. However, you may be missing that one opportunity that can be very fulfilling, probably less taxing, and a revenue generator as well.
So I suggest developing a job search strategy or even a new career strategy much like those younger people need, but with a twist. Before you even start thinking about what kind of work you want to do, the first step is taking a carefully thought out skills and values inventory.
I am continually astonished at the creativity and innovative thinking people apply to the transfer of their skills into seemingly totally unrelated areas. For example, if you have the ability to communicate across multiple disciplines effectively, and can combine that with good organization capabilities, the application of this combination is extremely powerful. It is also relevant in as broad an application as your imagination can take you.
Just think about the people we have encountered who are very smart and know a lot but just cannot seem to get to closure on anything. They just can’t get things done. Compare that with the results oriented, make it happen types.
The point is: If you think about all your accomplishments, and from those accomplishments derive those skills and abilities critical to their achievement, a very long list will emerge. I purposely use both the words skill and ability, even though they are largely synonymous, because I want you to also think about those innate characteristics, those qualities that go beyond specific skills. A certain charisma, being comfortable in high-pressure situations, empathy for opposing views, cross-cultural sensitivities are examples of abilities (sometimes referred to as soft skills) that can contribute substantively to success and should not be overlooked.
The next category involves values. The sad fact is too many of us spent years, even decades in work that was not very fulfilling. I am a grandmother speaking to my own generation, so I know that we grew up in a get an education, get a job, get married, have kids, etc. world. This type of life configuration was very restrictive for many. It was often characterized by an aversion to risk-taking, societal and family values that encouraged stability, and an economic climate that promised security. Remember those days? So we made compromises and for many that meant employment that was too much work and not enough fulfillment. All that can change now.
A values inventory is as important as an understanding of skills and abilities. If you put the two lists together, what ought to emerge is a pretty good idea of the relative attraction of opportunities you encounter or pursue. If you really understand your skills, abilities and values you can begin to make decisions about the next steps. Many opt for volunteer work, while others simply want to be in a busy environment where interacting with people is the most important factor. Many are attracted to the opportunity to turn a hobby into employment or even a small or home-based business. Others need to make money as a measure of validation, not necessarily for economic necessity.
Now comes the hard part, and the point in which the strategies for retirees seeking a new direction and those for younger people converge. The senior has the luxury of eliminating many options a younger person would have to consider. Travel would be an example. Nevertheless, the decision to move forward involves all the strategies in which job seekers and career changers engage. That means networking, research, and developing a set of tools such as a resume. It means calling prospects and taking interviews. The environment is a little different but the tactics are much the same.