With the bear market hitting retirement portfolios hard, bonds performing as poorly as stocks, and inflation raging, what seemed like a sure retirement income may be more of a pipe dream for many older Americans who had left the workforce, or planned to soon retire. The economic situation is sending more retirement-age workers back into the labor force. A recent CNBC survey found a majority of retirees would consider returning to work. But finding the right job isn’t always easy.
Many companies don’t offer the flexibility that many older workers want later in life. Age discrimination is another factor, with 78% of older workers claiming to have seen or experienced workplace age discrimination, according to 2021 data from AARP. That’s the highest level since 2003, when AARP began tracking the data.
Yet many companies are increasingly looking to attract mature workers, and with good reason. For one, the labor market is as tight as it’s been in decades and there are now two open jobs for every worker in the nation, and firms are struggling to recruit and retain talent. Research from employee scheduling company Homebase suggests that seniors are more engaged; more likely to look forward to work; more connected to their companies; and less likely to consider quitting. This makes older workers especially attractive in the currently tight labor market, said Jason Greenberg, head economist at Homebase.
Here are four tips to help older workers find an age-friendly employer.
