The age of reinvention

The world’s demographics are changing – youngsters are becoming an endangered species as ‘oldsters’ remain rock and roll stars. Gen X prepares to zenith. Boomers plan to live forever. And millennials start to get grey hairs!

Analysis by Bain predicts over 55s will make up more than a quarter of the workforce in G7 countries by 2031 - a 10% rise since 2011 and globally this age group will make up over 150 million workers by the end of the decade.

At 78 Donald Trump is the oldest US president elected … so far. Yet, while the Donald proves attitude is more important than age, there are many ‘average Joes’ who struggle to find jobs, let alone remain on the ballot.

Research by AARP (An American group advocating for retired people) found just 4% of firms had programmes attracting, retaining or integrating older workers into roles, and despite legislation to prevent age discrimination, and studies indicating older workers can be as productive as younger ones, getting a good job later in life can be as elusive as a seat in the Oval Office.

Looking for a job in a new era of work

While ‘lack of experience’ may have been a barrier to getting roles earlier in life, finding a good job over the age of 50 has its challenges, as Shelley Kendrick, Managing Director, Kendrick Rose, explains.

“It’s shocking how many people we see in Jersey just in their 50s who worry their career is over. These are people who have had really good jobs, successful careers, and who are in their prime.”

In recent times Shelley has seen an increase in candidates from the finance industry and other offshore businesses who have reached a crossroads in life.

“Sometimes a person has been made redundant, or they come to see us when they have just received the news about an imminent redundancy. They may still be in shock and need to come to terms with what is happening before they can focus on the future. Once they do, they are looking at a different world to the one they last looked for a job in.”

While huge advances in technology, in part due to AI, have shifted the landscape, the economic environment has also evolved.

“Someone who is coming back into the jobs market in Jersey will notice it is a lot tougher than a few years ago. Businesses are cutting back and the toppy offers that were being made to secure specific talent after the pandemic have evaporated, along with many of the more modest packages too.”

While you may not wish to do like Donald in all departments, and certainly not the orange make--up, when looking for a new role later in life there are some pointers worth considering.

The Kendrick Rose Plan

Seven steps for career success in your later years

Work out what you want

If you’ve been working full time since your 20s you may have reached a point in life where you want to change the pace. Being older doesn’t mean slowing down but it may mean having different priorities. Be realistic how much time you are prepared to work – whether you would be better with a part-time job or need flexible hours to fit other commitments. Once you are clear what you want, it’s easier to work out what you are offering an employer and where you might fit.

Assess your skills and experience

Age can be an advantage over youth in terms of skills and experience but these need to be relevant for potential employers. Examine the skills you have alongside requirements for similar jobs to your own, or ones you might aim for, to identify gaps you can fill. If you are still working, try to upskill on the job, or if you are looking to get back into work, sign up for online courses, or consider volunteering roles or helping someone in exchange for training.

Update your resume and cover letter

Create a new CV focusing on what is most relevant for roles out there today, incorporating keywords. While resumes shouldn’t contain your date of birth, roles from decades past can also date you. Cover letters need to be specific for each role, highlighting the skills and experiences that make you stand out as a brilliant candidate. Like with your resume, be clear, confident, and concise. If you think you will make the best president, spell it out.

Leverage your networks

After several decades working you’re bound to know people in other parts of your industry, as well as in other industries (Hello Elon). Leverage your personal networks to find out what sectors are growing and who needs more support. Go to events, get back on (or set yourself up on) Linked In and other platforms to connect with former colleagues and stay informed. Join professional forums or groups and share your expertise.

Invest in your brand

Consider how you present yourself. If you don’t value yourself, it’s hard to persuade others to see your value. While the 20-year-old you might have been fine on a diet of nightclubs and Diet Coke, looking and feeling good as we age needs more time and effort. Prioritise sleep, exercise, and a good diet to get the foundations right. If most of the clothes in your wardrobe have ‘miraculously’ come back into fashion, it’s time to update your look.

Reframe the downsize

Just as people who have spent years climbing the property ladder find it difficult to downsize, it can be hard for someone in an executive position to consider more modest roles. Taking on a job with less responsibility will most likely mean accepting a lower salary and a smaller package. However, this should mean less stress, more regular hours, and a work life balance a president can only dream of.

Rekindle your dreams

Do you remember what you dreamed of doing before you had family responsibilities, a mortgage, a need for status and promotions? If you now have an empty nest or can dial back your expenditure perhaps this is the time to start living your dreams and develop a career you find more fulfilling. As we age priorities change as more workers become ‘artisans’ and ‘givers’ and teaching or consultancy may offer new opportunities.

So what next?

Kendrick Rose is putting together a steering committee to help gather ideas and experiences from recruiters and employers about issues faced by candidates over the age of 50. The aim is to develop a strategy to find a new way forward with industry and government, for those seeing employment opportunities later in life. Contact Shelley at Kendrick Rose to get involved.