Joy is Good Business

Weekly Insights to Help You Reach Your Business Objectives

 

 

“Unretiring” Provides an Opportunity

Many businesses are finding it difficult to find right fit talent to fill their open positions. Retirees may be an untapped workforce segment that could provide interesting opportunities.
 
Goldman Sachs estimates that 3.4 million of those who exited the workforce since the start of the pandemic are over 55, and 1.5 million of those people are early retirements.
 
Reports are starting to appear that retirement may not be all it’s cracked up to be for some of the retirees. They may be willing to come back to work; however, I suspect many won’t want a full-time arrangement.
 
There are many ways that more experienced workers could provide value by coming out of retirement:
 
  • Discrete project work – Unretirees could be a great fit for those projects that are one-off in nature or keep getting pushed down the priority list but are still important.
  • Work requiring historical and long-term knowledge – When you lose tenured employees, history and experience go out the door. Engaging unretires for this type of work or project can provide an opportunity to tap into that treasure trove of information.
  • Coaching and mentoring – Unretirees can be great resources for middle and senior managers. Much like a swing coach in golf or tennis, they can guide and offer wisdom as managers engage in day-to-day work.
These are just a few ideas to add to your creative brainstorming. Give your retirees a call and see what’s possible.
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