6 Secrets to Staying Employed After Age 50
How to hold on to your job as you approach retirement
Losing your job later in life can be particularly devastating. Once unemployed, older workers generally take longer to find work than their younger counterparts. The average duration of unemployment for those age 55 and older in September was 42 weeks, which is more than nine weeks longer than the average younger person was out of work.
Older workers who are currently employed must take steps to insulate themselves from job loss. Many already seem to be doing this. The unemployment rate for those age 55 and older was 7.2 percent in September, compared with 9.6 percent among the population as a whole. Here are some tips to help you hold on to your job as you approach retirement.
Keep track of your profitability.
An employer is unlikely to lay off someone who consistently makes or saves money for the company. "Make sure you are profitable for a company and keep track of your profitability," says
Learn new skills.
Taking advantage of any workplace training or tuition reimbursement that your employer offers can demonstrate your ability and willingness to keep up with your employer's changing demands. Getting a book and learning skills applicable to your job on your own or with a coworker can also be helpful. "Learn how to apply computer technology to what is going on in your workplace," says
Be a problem solver.
Become known in your office as the person people go to for help or for information about specific problems. "You want to make sure people know what you're doing," says Shatkin. Keep your boss and coworkers updated with occasional progress reports through E-mail or on an internal company blog. That way, when company downsizing comes up, your contributions, energy, and enthusiasm are clearly documented. You want your colleagues to think: "We can't get rid of that person. This is the guy who does this," Shatkin says.
Pass your knowledge on to others.
One of the biggest assets that tenured older workers have is their institutional knowledge of the company and the career field. "Sure, you can hire a younger, cheaper employee, but an older worker who has been with you for 20 years may have developed long-standing relationships with clients and other people in the field," says
Take on new projects.
Make it clear to your boss that you plan to continue to work and are not planning to retire in the near term. "Volunteer to work on something or lead a task force," says Lassiter. Come up with ideas for projects that you are interested in working on that could create additional income streams for the company. It would be difficult to force you out when you are actively involved in a variety of essential roles.
Build an online presence.
Looking someone up online is becoming standard procedure. "Recruiters and potential clients are very likely to
Available at Amazon.com:
- What Today's Job Seekers Want
- 6 Secrets to Staying Employed After Age 50
- Bad Online Habits Can Hurt Your Career
- Workplace Space: Desk Do's and Don'ts
- Are Credit Checks Keeping You Out of Work?
- Job Interviews That Really Aren't
- How to Make a Career in Public Service
- How to Choose the Best Volunteering Option
- Boost Your Energy with Time-Shifting
- The Secret to Doing Your Best Work Effortlessly
- Introvert's Guide to Self-Disclosure
- Can-Do Entrepreneurs Move Beyond Can't-Do Government
- Can't Find Work? Get a 'Survival Job'
- 4 Steps To Becoming a Multitasking Master
- How to Answer 'What Do You Do?'
- Education and Wealth: Strongest Predictors of a Long Life
- The Vanishing Lunch Break
- Best Places to Launch a Second Career
- Expect Significant Changes During Open Enrollment for 2011 Health Coverage
- Solution-Focused Questions: The Secret to Success
- Law School: Rising Demand, Rising Tuition, Diminishing Job Market
- Beware the Interviewer in a Soft Chair
- 7 Sites That Will Help You Get Hired
- Out-of-the-Box Ways to Get That Job
- Get Even by Doing Well
- Starting a Business: Focus on Profits Not Popularity
- A Revolutionary New Way to Learn
- Out-of-the-Box Ways to Get That Job
- Strategies for Surviving the 'New Normal' Job Market
- Wal-Mart Offering Workers Chances to Earn Cheap College Credit
- Why Office Dating May Be More Dangerous in This Economy
- 7 Times You Shouldn't Take a Vacation
- Invest in Me, Inc.
- When Success Doesn't Come Fast Enough
- The Right Job at the Right Time
- Why Physician Assistant School May be Right for You
- Some Good News for Job Seekers
- How Morning Exercise Can Boost Your Career
- Is Job Loyalty for Better or Worse?
- Return to Work Way Ahead of the Game
- Does Gray Hair Ruin Career?
- 7 Tips to Master Every Meeting
- Get Career Goals in Gear This Summer
- How Your Career and Boss Can Ruin Your Health
- Law Jobs Will Be Harder to Come By
- More M.B.A. Graduates Will Get Jobs in 2010
- How Online Students Balance Family, Work, and School
- Jobs Bill a Tough Call for Democrats
- How to Get a Job After a Year (or More) Out of Work
- Alternatives to Traditional Retirement
- Job Market Strategies for Recent Graduates
- Lessons For Success From Apple's Steve Jobs
- We've Come a Long Way in Wrong Direction
- How You'll Find Your Next Job
- 6 Ways to Keep Family From Derailing Your Career
- 10 Ways to Make Any Job Healthier
- What the Resumes of Top CEOs Have in Common
- Seven Tips for Secret Job Search
- Video Game Design Careers
- Five Tips to Avoid Confirmation Bias
- Successful Career Switchers
- The Secret to Success for Artists and Creatives
- Why Some Women Skirt the Wage Gap
- Fear of Failure? Three Tips to Guarantee Success
- Behind the 'Mompreneur' Myth
- Creative Ways to Combine Work & Family
- Make More Money & Live Your Passion: Become a Cre8tor
- Banking Laws Leave Business Customers Vulnerable to Internet Fraud
- Deducting Hobby Expenses: Think Business
- When to Make a Personal Course Correction
- Kick-Starting a Business of Your Own
Careers - 6 Secrets to Staying Employed After Age 50
(c) 2010 U.S. News & World Report