Older Workers and pre-Retirement

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Boomers and pre-Retirement - How to Make a More Successful Transition to Flexible Work Options, Fun and pre-Retirement

Transcript of Older Workers and pre-Retirement

Older Workers…

Judy Marston - www.resumecoach.ca and www.ReInvention2Go.com 1

Copyright: Judith Marston, Nov. 4, 2010

… due to copyright, licensing and confidentiality concerns on certain photographs and resume samples, some slides have been adjusted since the conference presentation. SUMMARY: Stats/Forecasts Types of Pre-Retirees

Emotional issues/reactions and coping techniques Pre-Retirement Work Options Getting Employers on Board Government Sites and other Resources to help

this Demo Find Work Inspiring Stories of Career Change

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A Smattering of Stats

In 2008, a baby boomer turned 50 every seven seconds.

There are currently 345,000 people in the world who are over 100 years old. By 2050, that number is expected to rise to approx. 6 Million! (source: Moneytalks.net radio program, May 15, 2010)

In recent years, very few new pension plans have been created in Canada for employees working in the private sector. (CARP President, Susan Eng – C-FAX 1070, May 17, 2010)

“If you're over 55, the US Bureau of Labor Statistics says you're likely to stay unemployed 30 percent longer than other workers.”

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Future Outlook

Statscan: Seniors to outnumber children by 2021“More jobs than available workers by 2018”

PR NewsIn less than 7 years, one in five people in

the workforce will be aged 55 to 64: http://www.cbc.ca/canada/story/2007/07/17/census-canada.html

Population of older Canadians expected to more than double by 2036.

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Exactly who are these clients?

Baby boomers have redefined every life stage they have passed through, and retirement will be no different.  According to this report in US News, there are a number of key differences between boomer retirement and retirement for earlier generations:

Longer life Lack of pension Need to actively manage investments Continued work in retirement  Active lifestyles Retiring with debt  Dealing with being in the “sandwich” generation Reduced Social Insurance/Security benefits

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Two Types Typically Encountered…

Workers who are leaving their current work situations …

Not by choice By choice

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NOT BY CHOICE:Through job loss, termination, downsizing,

illness/injury/disability, being offered an early retirement package etc.

Some of the following can occur: Transition phases – need coping techniques Loss of identity and/or ‘ego assault’ Fear of change Age concerns Lacking in skills

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Phases of Transition – a la William Bridges

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Loss of Identity (Ego Assault)

Can be quite destabilizing for many Watch for depression Need to work through stages of

Transition before leaping into job search and interviews.

Leaks out subtly

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Fear of Change (resistance) Interpret rejection as a perceived AGE

issue when in fact they may need to improve something else: technical skills, flexibility, keenness to learn

new things and positive attitude.

Willingness to learn is key! Review Pros and Cons of what they

want now to help reframe ‘assumptions’

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Age Concerns… Applying for many jobs but not getting

any offers Starts to play on their self-confidence

and self-esteem Despondent potentially developing

into depression Give up Assume the worst but rarely ask for

clarification / verification.

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NEED: to UPGRADE ‘tired’ (sometimes even non-existent) Computer Skills

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Photograph removed for licensing reasons

Another biggie…Resistance to social media and technology

http://www.commoncraft.com/video-social-networking

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Photograph removed for licensing reasons

These kinds of resistances…

Often result in Excuse-amania! And rampant Negativity

Also known as

BUT - itis

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Resources… AARP videos!

http://www.aarp.org/work/job-hunting/info-05-2008/job_tips_for_50plus_workers.html 15

Fear of ….

The Question: “Why did you leave your last job?” (especially if fired)

and… Networking

and… Not being honest about their experience

(feel they’re lying when they don’t put EVERYTHING on their resume)

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Attitude Adjustment

Think Like a Younger Person Be Flexible Be Open to New Things (Social Media) Keep Current – even if it means paying

for it! (Training especially) Prepare and Plan for the Interview Reframe Value to an Employer Don’t Assume “ANYTHING”

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And even when the change is by CHOICE:

Some of these responses may still need to be addressed/resolved: Transition phasesLoss of identity and/or ego assaultFear of change

○ Age concerns○ Lacking in skills

But when it’s a personal choice clients can often overcome more easily because they accept some responsibility for the situation.

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Career Shift – from hyper busy to less stress/responsibility

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Many “think” this is exactly what they want!

Will often get bored fairly quickly Will not be happy with the low pay Will work too many hours because they’re the “reliable”

ones, so the flexibility they thought would be part of this job goes out the window!

Just naturally take on leadership roles even though they say they don’t want to

Damned if they do etc.

And that sometimes proves to be not challenging enough so… They may return to a more responsible

version of their former career… Or, their former career but in a different

capacity… contractor/consultant, freelancer…

Or, to their original job exactly, or perhaps with reduced hours

Recommend:

Take some time off! REALLY OFF!This can cause some people more stress.

They don’t know how NOT to go to work or have a daily routine. Which can actually be detrimental to their longterm health.

They need to relearn what they like to do and figure out HOW to relax! Because one day they will be truly retired.

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Three More Approaches

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1) Complete Change

2) Career Shift (different but the same)

3) More and more common todayThe shift to a GREENER career,

often done in tandem with a lifestyle change

Cultivate an Entrepreneurial Mindset For many, the new world of pre-Retirement work

may look a lot like Self-Employment, if they want to maintain a certain level of pay.

Contracting and ConsultingProject-Based WorkWork that offers more flexibility and money!But, for many, a very different “hat” than they’re used

to wearing and not always a comfortable fitIssues Impacting Success: Clients often resist the

networking and marketing/sales related components required to succeed

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And it’s not just Career Changers who have Some Changin’ to Do…

Employers are Way Behind the 8 Ball, too.Judging candidates based more upon their last title,

than their skill set! Need to reconsider and Look/Hire more for

transferable skills and knowledge Businesses don’t get high marks for recognizing the

potential of career-switching candidates. SOLUTION: businesses need to focus more on work

design and rethink the job description.

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Initiatives being undertaken by AB and BC employers, as well as their counterparts elsewhere in Canada and around the world, include:

Targeting recruitment efforts at mature workers and keeping in touch with recently retired employees;

Offering flexible work arrangements, like telecommuting opportunities, part-time or contract work, or modified work weeks or work duties;

Offering mature workers opportunities to mentor younger workers;

Offering financial incentives; and Fostering a workplace culture that is accepting of age

diversity and respectful of the needs of mature workers, including reducing the physical demands of jobs.

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Canadian Resources Targeted at Older Workers

http://www.seniorsforhire.ca/ www.thirdquarter.ca http://www.job-link.ca/Canada_Top_Employers_Over50_Canadians.html The 10 best employers for workers over 40:

http://www.theglobeandmail.com/report-on-business/managing/the-10-best-to-work-for/article1734471/

Canada's Top 100 has a list of employers for workers over 50 http://www.canadastop100.com/older_workers/

Nova Scotia: http://www.olderworker.ca provides job seeking strategies for workers and info for service providers.

Job Bank site: http://www.hrmanagement.gc.ca/gol/hrmanagement/site.nsf/eng/hr11197.html

Monster has a discussion forum that focuses on age issues http://monster.prospero.com/n/pfx/forum.aspx?webtag=mstageissues

Targeted Initiative for Older Workers programs (TIOW) – 23 in BC

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Source:BC Government

Staying with Current Employer A worker nearing retirement age might also

look to his or her current employer for options, such as bridge positions, phased retirement, part-time employment, telecommuting, or contracting/freelancing.

Learn more in these sections of Quintessential Careers: Telecommuting, Job Flexibility, and Work-at-Home Job and Career Resources and Jobs for Consultants, Freelancers, and Gurus. 28

Volunteering

Be Strategic Imperative to find a meaningful inspiring

match www.charityvillage.com (Workapedia) Volunteering overseas

and for humanitarian reasons, locally Internships for older workers

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Use Resume to Fool Ageism Retool to show more generic skillsets –

functional is usually best if making a radical career change

Use job posting as the “Bible” for creating new resumes

Use the Cover Letter to head them off at the pass… anticipate and answer unspoken questions!

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Career Change Resumes

• TIP: Align to Job Posting or Volunteer Position being Targeted• Use Functional Resume to better showcase past job duties which are essential for new job postings and downplay duties which may lead employer to interpret: Overqualified or Not a good Fit to this level of responsibility. (Cut the Assumption Monster off at the Pass!)• Last but not least… final sections of resume will condense skillsets associated with the work done during bulk of career

• Requires a huge shift in the way they think about their past experience.• Can help them reframe why they include what they include in a resume and reduce the identity assault issues that often arise

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ARTICLE: http://www.bnet.com/blog/evil-hr-lady/your-resume-will-not-find-you-a-job/1123?promo=664&tag=nl.e664

Cover Letters – the missing link

Personalize (make it yours and make it authentic) Why you want THIS job! Why you are a great fit! What you can do for the employer!!! (Not what they can do to help you

have more flexibility or downsize your career!) Anticipate and allay unasked questions of the Employer/HR

Mgr Pitch Follow-Up (this age group tends to avoid the follow-up or the

“informational Interview” approach to networking… this can make ALL the difference in showing that you are a good fit for an organization.

http://www.bnet.com/blog/evil-hr-lady/your-resume-will-not-find-you-a-job/1123?promo=664&tag=nl.e664

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It just goes to show that , now more than ever before ….

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101 year old lawyer – still working!

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http://money.cnn.com/video/news/2010/04/12/n_cmr_92_year_old_yoga.cnnmoney/

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"I used to be a model," Sally said.

"Now I feel like a model T."

Sally decided to become a model at the age of

56, and lost 30 pounds to get the job at the old Hovland-Swanson store

in Lincoln. She didn't quit modeling until four years ago at the age of

97.http://journalstar.com/news/local/govt-and-politics/article_f1ad188e-a4cf-11df-8740-001cc4c002e0.html

Nebraska Capitol staffer, 101, named America's Outstanding Oldest Worker

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Who’s the current poster child for working well past 65? She’s a Calendar Pin-Up Girl She made a splash on SNL this year! She’s the star of a new TV sitcom She starred in a top grossing film last year with

Sandra Bullock (and more opening soon) She’s currently in a gender-bending

commercial for Snickers She’s a longtime Animal Activist She just won a Lifetime Achievement award And … she’s on Facebook and Twitter!

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Well, if you don’t know…

I’m certainly not going to tell you!

Check the internet, do some research, ask your friends … figure it out!!!

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About the speaker:

http://www.linkedin.com/pub/judy-marston/12/851/102

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www.ResumeCoach.ca and www.ReInvention2Go.com

Judy Marstontelstone@islandnet.com

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