Getting the Job You Want After 50 For Dummies

Kerry E. Hannon

• Publisher: For Dummies
• Year: 2015
• ISBN:
  9781119022855
• Edition: 1
• Topic: Personal Development
• Subtopic: Careers

Your guide to navigating today's workplace and snagging that perfect job

Whether you're searching for a new job by choice or necessity, consider this book your life raft. You'll find all the resources you need to job-hunt—from building an online presence and revitalizing your résumé to negotiating a salary and landing that job!

• The power of people — harness the power of the people you know — friends and family, former colleagues, social media contacts, and more — to network your way to your next job
• Mirror, mirror on the wall — rehab your résumé and cover letter, build a positive online presence, acquire social media street smarts, and market yourself on LinkedIn
• Hang your own shingle — join the growing ranks of the self-employed with advice on launching your own business, working as a freelancer, turning a hobby into a profit, and cashing in on your natural gifts
• Scope it out — discover which jobs are in demand and expected to grow, what they pay, and whether you're qualified

Part I

Getting Started with Finding a Job After 50

Visit www.dummies.com for free content that helps you learn more and do more.

In this part …

Figure out what you really want out of a job, in addition to a paycheck and bennies, set a course to get from point A to point B, and discover proven strategies for finding and landing the job you want.

Recognize the skills that employers value most, take inventory of the skills you have, and discover free and affordable ways to build the skills you’re missing.

Network your way to your next job by leveraging the power of your personal and professional networks to find jobs, get the scoop about prospective employers, and perhaps even find an inside track to the job you want.

Deal with the financial issues that commonly accompany unemployment and job searches, write off job-hunt expenses on your taxes, maximize your social security benefits, bankroll your own benefits package, and more.

Chapter 1

Scoping Out Your Prospects

In This Chapter

Understanding current workplace realities

Figuring out what you want … and want to do

Finding your place in the workplace

Retooling your job search strategies for the 21st century

Welcome jobseekers! Finding a job, at any age, takes work and dedication. Some older jobseekers assume that employers would rather outsource jobs to cheaper workers overseas or hire younger, less experienced workers for lower wages. Although these suspicions are confirmed by the hiring practices of some organizations, current studies show that employers are increasingly willing to consider older candidates and that age alone isn’t necessarily the reason some employers are unwilling to consider older candidates.

In this chapter, I help you shift your attitude about job hunting from one of apprehension to one of hope and possibility and show you a few simple ways to rev up your job-search mojo to today’s new workplace reality for 50-plus jobseekers.

Recognizing the Need for and Value of Experienced Workers

The times really are a-changin’ and that’s good news for your job-hunting prospects. Whether you want to work in an office job, teach yoga, or head up a company, more employers are starting to realize that hiring workers age 50 and older is good for business. More and more employers are discovering the value of experienced workers. Unfortunately for 50-plus job seekers, the fact that demand for experienced workers is on the rise is a well-kept secret. Realizing that employers need you is an important first step in the process of finding and landing the job you want. It gives you the enthusiasm and confidence to set out on what may be a long and arduous journey. In this section, I reveal the reasons the demand for 50-plus workers is rising to invigorate you for the journey ahead and remind you of just how valuable you are to employers who need your skills, talents, and experience.

The job search can be disheartening for anyone, regardless of age. And if that’s what you’re feeling, never show it to a prospective employer. Always highlight the value you have to offer in every job search communiqué you send out. If you need a confidence lift, take some time and review all your previous achievements.

Noting a change in the current workforce

Many CEOs are increasingly aware that they need to have 50-plus workers on board. As the population ages, the workforce is aging right along with it. U.S. employees 65 and older now outnumber teenagers in the workforce for the first time since 1948. In 2002, workers 50 and older comprised 24.6 percent of the workforce. By 2012, they represented 32.3 percent. And by 2022, they’re projected to be 35.4 percent of the total workforce.

This emerging trend isn’t likely to change anytime soon. More than one in three workers age 45 and older expects to retire at age 66 or older, compared to just over one in five ten years ago. Moreover, 72 percent of workers ages 45 to 74 envision working in retirement.

Employers are getting worried about their future workforce. In a recent survey by the Society for Human Resource Management (SHRM), one-third of HR professionals predicted that the loss of talent resulting from retirements or departures of workers age 55 and older would be either a problem or a crisis for their organization in the next six to ten years. The Manpower Group 2014 Talent Shortage Survey found that 40 percent of U.S. employers reported difficulty in filling jobs.

Seeing experienced workers as an affordable option

The old concerns that hiring someone our age would probably be too pricey are being debunked. Contrary to common perception, workers age 50-plus don’t cost significantly more than younger workers, according to the report “A Business Case for Workers Age 50+: A Look at the Value of Experience 2015,” commissioned by AARP and conducted by Aon Hewitt.

Shifting trends in reward and benefit programs mean that adding more age 50-plus talent to a workforce results in only minimal increases in hard dollar total labor costs. These trends include a broad move by large employers to performance-based versus tenure-based compensation, the decline in traditional benefit pension plans, and the fact that healthcare costs are increasing at a slower rate for older workers compared to younger workers.

Meanwhile, in today’s global and fast-paced workplace, firms often don’t have the time to squander while a younger worker ramps up skills and knowledge. Companies are slowly realizing that to stay competitive, it’s smarter to seek out and hire experienced workers. Trust me, you’re on the cutting edge of a sweeping change in the demographics of the workplace. And it’s being led by the boomer generation.

You may think I’m just looking through rose-colored glasses. But recent surveys show that companies are realizing that it’s strategically smart to pay more attention to recruiting and retaining workers age 50 and older. When organizations need someone to step in and do the job right now and solve an existing problem, it’s the experienced worker they’re eager to hire.

That’s what the AARP report unveiled. Findings from a 2014 SHRM survey of HR professionals also back up that trend. SHRM’s The Aging Workforce survey also found that two-thirds of HR executives canvassed reported that their organization employed older workers who retired from other organizations or careers before joining their organization. Gold stars all around.

The Aging Workforce survey, part of a three-year national Aging Workforce Initiative by SHRM and the SHRM Foundation and funded by the Alfred P. Sloan Foundation, also found that 61 percent of the 1,900 randomly selected SHRM HR professionals indicated their organization had attempted to capitalize on and incorporate the experience of older workers in recruitment and retention strategies. (Kudos to them.) The top advantages of older workers were having more work experience (cited by 77 percent of respondents), being more mature/professional (71 percent), and having a stronger work ethic (70 percent). (But, of course.)

Capitalizing on lower turnover

Employers find that workers age 50 and older are more loyal and aren’t as likely as younger workers to job jump. And that lower staff turnover benefits the bottom line. The costs of high turnover are tangible. Finding, hiring, and training a new employee is a costly venture, and it becomes even more costly when that well-trained employee decides to jump ship and work for a competitor.

Plus, it’s hard to put a price on the institutional knowledge that goes out the door with a departing employee. Now tack on the stress that managers and coworkers must shoulder to make up for the work that falls between the cracks when an employee leaves. And, finally, toss in the toll of lost morale that accompanies the departure of a valued team member. Now the employer has a serious problem. And that’s clearly a big incentive for hiring a worker over 50. Older workers often anchor a team.

Retaining older workers pays dividends, too!

Depending on your position and industry, the total cost of replacing you can range from thousands of dollars to as much as one-and-a-half times your annual salary. Retaining older workers reduces the one-time costs of turnover, which range from $7,400 to $31,700 or more per employee, according to AARP’s most recent survey. This cost includes the time and money that go hand- in- hand with recruiting and advertising your job, bringing people in...

Table of contents

• Cover
• Title Page
• Table of Contents
• Introduction
• Part I: Getting Started with Finding a Job After 50
• Part II: Launching Your Job Search
• Part III: Marketing Yourself
• Part IV: Taking the Stage: The Interview and Its Aftermath
• Part V: The Part of Tens
• About the Author
• Cheat Sheet
• Advertisement Page
• Connect with Dummies
• End User License Agreement