A whopping total of
70 million Americans were born between the
years 1946 and 1964. These 41- to 59-year olds make up what is known,
of course, as the “Baby Boomer” generation.
One thing has become increasingly clear: due to a number of factors,
Baby Boomers aren’t able or willing to retire as early as was initially
predicted. While this might have some negative connotations, it has some
positive ones, as well, and those positive ones revolve around
contracting. The fact of the matter is that what Boomers are looking
for in the way of employment and what contracting jobs can offer are
almost a perfect fit.
Is retirement realistic?
According to The New Retirement Survey from Merrill Lynch and Harris Interactive, “Boomers
are not planning to take up shuffleboard and watch the tides roll in.
Most Boomers envision an ideal retirement as one that cycles between
work and leisure.” In fact, only 17% of Boomers hope to never work
again and 6% envision the need to work full-time. So that opens the
doors for part-time work and/or cycles of work and leisure. In either
case, contract staffing can be appealing.
Is contract staffing realistic?
Statistics show that Boomers are hunting for work for the first time
in decades. But their own personal circumstances are different than
they were 20+ years ago. Part-time work or cycles of work can meet most
of their needs. Many are limited in their ability to relocate and are
pressured to provide for their children or elderly parents. Some other
important factors include the following:
1. Money
The ability to financially supplement a retirement plan or Social
Security income is an important factor. Contractors are paid for every
hour they work, and they are often paid at a very acceptable rate
because of their experience and knowledge.
2. Flexibility
Flexibility is critical to these Baby Boomers, and contract staffing
offers that option. They can set their own schedules, work as many or
as few hours as they like, take the summer off or time at Christmas,
arrange for job sharing, etc. The decision can be made based upon their
own unique situations at home.
3. Health Care
Another consideration is health insurance. Although Boomers are
healthier than they used to be, certain chronic conditions become more
common and usually grow worse with age. And we all know that Americans
are living longer than they used to. (Note: Health insurance is available to contractors who work at least an average of 25 hours per week.)
What do companies say?
Studies show that older employees tend to be more loyal,
detail-oriented, and reliable than younger people. In many cases, Baby
Boomers provide a competitive edge because they already have a required
skill or knowledge base to handle a specific task or project. Many
companies actually try to recruit Boomers and retirees back into the
workforce. They have the experience and expertise the client needs,
plus if he/she is a retiree, they're familiar with the company’s
operation guidelines, internal procedures, etc.
What’s the bottom line?
Contract staffing is an excellent alternative for both the Boomers
and the clients. Consider this option the next time you have a specific
need.