Here, we’ll discuss what it is and why it’s becoming such a vast trend in the business world. Keep reading to learn more!
What is “unretirement”?
Because of the “Baby Boomer” generation, there are about 10,000 Americans turning 65 each and every day. And while the age of 65 used to be one that many used as a time to retire and begin a more sedated and relaxing part of their life, those days are no more.
Because people are generally healthier and living longer than they were in the past, that means people are also more active and need to make more money in their lifetime to support themselves.
Thus comes this idea of “unretirement”, where companies are hiring those who were previously retired into roles in their company.
These “unretirees” may be back on the job market for a wide range of reasons. Some may be looking for a change of careers, while others may find that retired life was simply too boring for them. Or, others may financially find that they need to have an income to adequately support themselves.
Whatever the reason, it’s becoming more and more common. Also, this life choice sometimes involves these workers making their work life more flexible – maybe by taking a part time job, cutting back on work-related travel, or doing some consulting that gives them more freedom in their schedule.
Why Unretirement is Good for Your Business
It can bring a new perspective or skillset to your organization
Hiring those who have been in the workforce for a number of years and are looking to do something fresh and new can bring a new perspective to your company. This can be refreshing, and along with it can come a different skillset.
These new employees can also help teach others using their wisdom that they’ve gained through their extensive experience, which is a big plus. It’s always great to get a fresh perspective and have someone who brings new ideas and specialities to the table!
It can fill smaller or more flexible roles
As we mentioned above, those coming out of unretirement may not want to work full time and they may be craving some flexibility in their schedule.
If you have a smaller role that needs to be filled, hiring someone who also wants to scale back their schedule can be a great way to both get what you want out of the relationship.
This is a great way to make your company more productive while avoiding breaking the bank where you don’t need to!
While unretirement is a relatively new craze, it’s definitely one that’s on the rise. Learning how to use it to the advantage of your company is something you won’t regret, so use a PEO to help you do so today!