Why are young people so unhappy?
The new World Happiness Report based on surveys in 140 countries indicates young people...read more
A new study claims that nearly a third of the UK’s 21.3 million over 50s have taken the plunge and embarked on a new career instead to work through retirement age.
Life begins at 50 for over half of the older generation, according to a new study which claims that nearly a third of the UK’s 21.3 million over 50s have taken the plunge and embarked on a new career in their later working years.
Of those who have actually made the switch, 75% made a complete career change for example teacher retraining or to become a florist whilst 13% “down shifted” their skills for example a solicitor who now only writes wills whilst 6% “up shifted” their roles for example a police officer to fraud investigator.
The remaining 7% used the skills gained in their career up until then to become a consultant or adviser in the same or a complementary field. Self-employment or entrepreneurialism is another popular choice for those choosing to embark upon a new carer.
The over 50s won’t just do anything, however. According to the research there must be job satisfaction (26%). And for 27% this requires a less stressful job – a prerequisite that decreases with age (30% for 50-60 year olds and 22% for 61-70 year olds) – and for 24% this meant options for flexible working.
Understanding the challenges and opportunities of an ageing population is vital if we want to create productive, innovative and inclusive multi-generational teams as we all lead longer working lives. workingwise.co.uk is a job and community site, from the people behind workingmums.co.uk, specially focused on older workers looking for flexibility and improved work-life balance, and the employers who recognise what they have to offer.
It isn’t all about choice, however. Money is a key driver with many of the older generation admitting that a pension shortfall meant they had to get a job. Incredibly, more than half (55%) of the over 50s never anticipate ceasing work completely. A sentiment that grows as people age (54% of 50 – 60 year olds and 57% of 61 – 70 year olds) with 60% intending to do so to compensate for the shortfall in their retirement income (55% of 50 – 60 year olds and 67% of 61 – 70 year olds).