The interest in having a happy retirement is pretty much universal. While the bulk of my readership comes from America, Australia supplies a healthy percentage of Satisfying Retirement readers. Maybe that is why I was contacted not long ago by a fellow from that country who wanted to share some interesting survey results with me.
David Schneider pointed me to the results of an ageism research project that shows real and pervasive discrimination against Baby Boomers trying to reenter the work place. While I have no comparable study for the U.S. or other countries, I assume there is a similar problem in any developed country.
A few of the results of the study include these sobering findings:
* More than one in three people over-50 (35%) have no choice but to apply for new work or embark upon a career change later in life – half of them because they need the money. So, factoring in what we know about Western culture and its tendency to marginalise those who are no longer in the rosy-cheeked flush of youth, this statistic is all the more of a concern. Why? Because, even at a glance, the results of our survey over whether ageism is a factor in attempting to re-enter the workplace are quite disheartening.
* Perceived or otherwise, nearly half of all Baby Boomers surveyed (47%) feel age discrimination is behind why they may have been rejected for employment. Not only that, but over a third (36%) talked themselves out of even applying for certain roles because they believed they wouldn’t even be in the running.
* 60% of those surveyed admitted re-employment required overcoming certain obstacles – and in fact, over a quarter (27%) described those barriers as “significant”.
* Even once Baby Boomers do score that elusive gig, the ageism doesn’t necessarily end there. Nearly a third (30%) report experiencing discrimination over their age while at work. The reasons most cited for this age discrimination is that Baby Boomers are seen as either overqualified (45%), they somehow lack the right “company fit” (30%) or that they aren’t tech-savvy enough (24%).
The full summary report is located here:Ageism in the Workplace
And, here is an excellent graphic representation of the problem older folks face when trying to re-enter the work force:
Why give you this information? Because there a lot of us who are considering going back to work. Others don't leave in the first place because of the fear of being unable to reenter the job market for the reasons cited in this report.
If you are about to start your satisfying retirement journey, go into things with your eyes wide open. If you believe you can always go back to work if your financial situation weakens, realize that may more difficult than you anticipate.
I am a major advocate of retirement. But, I do caution everyone to be comfortable with where you are financially. If part of your planning includes a simple step back into the full time employment world, that may be wishful thinking.
My thanks to David, and the company Webprofits for this report. Satisfying Retirement has received no compensation from any of the sources of this post.