Gone are the days where retirement means leaving the workforce forever, because baby boomers are changing the landscape of retirement in America. While millennials may have taken the workforce by storm in recent years, it’s hard to deny the positive impact boomers have on the corporate world. In fact, so many companies are taking note of the great contributions that boomers have made to their bottom line that they are creating post-retirement programs to keep boomers working after retirement.
In a recently published New York Times article titled, “Boomerang Boom: More Firms Tapping the Skills of the Recently Retired,” they coin the term “boomerang retirees” to describe this surprising new workplace trend. Boomerang retirees are “people who exit gracefully after their career at a company, then return shortly afterward to work there part time.”
Going Back To Work After Retirement
Baby boomers make up the 76.4 million Americans who were born between 1946 and 1964. With their reputation as a generation willing to work hard for their money, it’s no surprise that baby boomers represent roughly 70 percent of disposable income in the U.S. But with the rise of health care costs and a loss of savings during the Great Recession, many boomers can no longer afford to retire at 62 and live a leisurely life in a warm place.
The Bureau of Labor Statistics have found that the number of seniors in the workplace has doubled since the 1990’s and is expected to continue to grow through 2022. In the past, the only type of available work for retirees was largely volunteer opportunities, but employers are starting to see the intrinsic value in keeping senior employees around. The New York Times pointed out that perhaps the most important factor at play here is that “management realizes that the biggest value of boomerangs lies in teaching the formal and informal ropes of the business to newer generations of workers.”
Benefits of Working After Retirement
There are many additional benefits to going back to work after retirement, aside from keeping a regular paycheck and having somewhere to go every day. Here are the top five reasons you should consider working after retirement:
Supporting Boomers In The Workplace
Work for retirees has many positive benefits that can keep you mentally, physically and emotionally strong as you age. Medical Guardian is a proud supporter of Boomers in the workplace--in fact, many of our Life Safety Consultants are Baby Boomers. Call today to chat with one of them!