Older Generations Returning After Retirement — Are the older generations returning as consultants or taking lower positions as they retire from an organization?
We’ve seen three general trends. Firstly, there are older workers who remain with their former employer as consultants. This sometimes happens because the worker retired to have more personal time, but also wants to remain involved and maintain a stream of income besides retirement savings and social security. Secondly, some organizations are employing retirees as consultants who can mentor rising managers and professionals especially in certain technical disciplines. Besides, these individuals are less expensive to employ and can be terminated on a moment’s notice. Thirdly, there is a cohort of older workers who work part-time to maintain a stream of income and a social circle of age peers. Look around the average fast-food establishment during lunch for instance, and you’ll see them behind the counter and out in the dining room. The only source of how many of these people there are would be in the Census data on the percentage of people employed at different age levels.
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