After decades of hard work, retirement has traditionally been viewed as a time of rest and relaxation. But, for many retirees who left the workforce, it has become apparent that retirement was not the right choice. This realization has sparked a trend called “The Great Unretirement,” which is seeing more and more older people returning to work.
According to an examination of Labor Department data conducted by Indeed economist Nick Bunker, an estimated 1.5 million retirees have returned to the American labour force in the previous year. From the Washington Post analysis, this means that the economy has largely made up for the additional retiree losses since February 2020.
The Retirement Surged article delves into this phenomenon and explores how older people return to work. For many, the process starts with temporary gigs and side hustles, which allow them to test the waters and navigate new areas of careers. This approach is also great for gaining new skills and experiences while making extra money.
While The Great Unretirement is primarily associated with older people, a larger audience can resonate with the phenomenon. It is a career-life strategy that can benefit all adults considering switching jobs and returning to the workforce.
In light of this significant shift in the workforce, retirees and employees need insight into the best ways to get back to work. Here are some of the best strategies for retirees looking forward to returning to work.
Hybrid Working Arrangements: Hybrid work arrangements offer a mix of remote and in-office work. This work arrangement can be particularly attractive for retirees who prefer a more flexible work schedule. Hybrid work arrangements can also help retirees stay connected with their former employers and colleagues while still having the freedom to manage their personal lives.
Dynamic Roles: Dynamic roles allow retirees to use their existing skills and knowledge in new and exciting ways. For example, a retiree who worked in finance may find a dynamic role in sales or marketing. This can help retirees stay engaged and challenged while learning new skills and expanding their professional network.
Continuous Learning: Retirees can also benefit from continuous learning, particularly when they need to update their skills or knowledge. Many colleges and universities offer courses to help retirees stay current in their field or explore new areas of interest. Online learning platforms such as Coursera, edX, and Udemy can also provide retirees access to various courses and certifications.
Part-Time Working: Retirees may also want to consider seeking part-time or contract work, as this can provide a less demanding work schedule while allowing them to contribute to their field. Retirees can also leverage their professional network and consider volunteering or mentoring opportunities.
The Great Unretirement is a trend reshaping the workforce and offering older people the chance to re-enter the workforce on their own terms. In this way, by eventually moving into full-time roles, retirees can enjoy fulfilling and productive careers well into their golden years. Be sure to leave a comment below on what you think about the great unretirement. Share your thoughts on our forum to add more to this conversation. Register now to join the movement.