Is your company planning for workforce challenges in the coming months? With inflation continuing to rise, a recent survey by the American Staffing Association has revealed that many retirees have decided to continue working and earning an income to supplement their social security earnings and retirement accounts. As a movement currently becoming known as the “great unretirement,” there is a growing number of retirement-aged individuals who have decided to either continue working or re-enter the workforce. Here are some of the reasons why retirees are increasingly returning to the workplace:
Since more employers across the U.S. are offering flexible policies (such as hybrid workplaces or remote work arrangements), many older individuals have found these benefits to be very appealing. Older employees are taking advantage of employment situations that allow them to earn an income while enjoying a better quality of life. From better work-life balance to reduced or eliminated commutes, the older generation is embracing flexibility.
More employment opportunities.
As more retirees have begun re-entering the job market, many employers are turning to older individuals for their experience and expertise to fulfill certain jobs. This has put this generation (baby boomers and older) in a unique position to secure jobs that may have not been an option for them just a few years ago. Retirees are now qualifying for a broader range of positions that allow them to utilize their backgrounds and credentials in various capacities, such as management, training, and supervisory roles.
In addition to financial stability and greater employment options, many retirees are seeking employment as a social outlet. Employers with positive workplace cultures afford older individuals the chance to make a difference in their communities while enjoying meaningful relationships with coworkers, customers, and friends. Older individuals often discover the benefits of being part of a team that values their contributions and provide them with a greater sense of connection and camaraderie.
With the rise of inflation, employers can expect to see an influx of older employees who have chosen to remain in the workforce or seek new employment options. In many ways, incorporating these individuals within your team can enhance diversity initiatives and allow for a more dynamic and forward-thinking workplace.