In Pursuit of Profession: Over and out?
Unemployment remains at very low levels, so why isn’t the Over-50 crowd feeling the love? We talk with an expert who literally wrote several books on getting and staying employed after our fiftieth birthday.
As the saying goes, there are always two sides to any story. This adage comes to mind when I think about analyzing numbers. We all were taught that “the numbers never lie.” But something funny happened to me on the first day of my college statistics course. The professor said that if we learned nothing else in his class, know that statistics can be manipulated to prove whatever we want them to prove. Imagine what kind of slap in the face that one was. He couldn’t be right! Numbers don’t lie! But then after his bold statement, he went on to prove his point and taught us to always dig deeper into the stories that the numbers were trying to tell us.
Beyond the numbers
In a recent article for the Washington Post, retirement and personal finance expert Rodney Brooks wrote about a friend of his who’s 60 years old. He was recently laid off, but not ready to retire — from both a financial and emotional standpoint — just yet. But he also faced the grim reality that he was standing firmly in the “Over 50” group that, according to the U.S. Government Accountability Office (GAO), are the least likely to find a new job.
When I read this statement in the article, my statistics professor’s words practically flashed in front of my eyes. The statistics can’t be true. The national unemployment rate is currently at 5.0 percent. Texas and the DFW area are doing even better at 4.4 percent and 3.9 percent, respectively. Plus, with their years of experience and solid work ethic, the Over 50 crowd has to be the most employable, right? They know how to weather the storms of the work world. They have endured change in the workplace, everything from the move to Casual Fridays to now collaborating with the dude down the hall whose arms are sleeved with tattoos. While I couldn’t figure out why it’s so hard for someone on the north side of 50 to get a job, I turned to an expert for help.
“Interestingly, the unemployment rate for men over 55 is around 4 percent and women, 3.8 percent vs. 5 percent overall unemployment rate,” said Kerry Hannon, a nationally recognized career and retirement expert, and award-winning author of ten books including “Getting the Job You Want After 50 For Dummies,” and “What's Next? Finding Your Passion and Your Dream Job in Your Forties, Fifties and Beyond.” “The more telling figure is how long it takes someone over 55 to find a job once they have lost one. In general, the unemployment duration for someone under age 55 is around 25 weeks or around six months and for someone over 55, it’s 36 weeks, or 9 months.”
Sadly, the reasons why it’s more difficult to find a job for the Over 50 crowd comes down to solidly entrenched stereotypes. “First, [employers] figure an older worker isn’t up for the job physically. They don’t have the stamina for it. They worry they aren’t up to speed with technology, or unwilling to learn new ways of doing things. They’re concerned that they’re too expensive in terms of expected salary and health benefits…and if they hired them at less pay than they made in their last position and would ultimately be resentful. They fear they won’t play nicely with younger bosses, in other words, bristle at reporting to someone younger, and wouldn’t fit into the workplace. Finally, they believe they aren’t in it for the long haul and are only taking a position as a placeholder until they retire,” said Hannon.
What these employers tend to forget is the benefits that older workers bring to the table. “Older workers are generally more reliable, have a better work ethic, strong communication skills, and have a deep network and the experience to get the job done. They can provide ballast in the workplace,” Hannon said.
The key to success, before and after 50
If you find yourself over 50 or ever plan to be over 50 and want to either keep your current job or perhaps change careers, Hannon tells us to never stop learning. “It comes down to skills,” said Hannon. “It is non-negotiable that life-long learning and up-to-date skills are essential. If you are eyeing a job, check to see that the skills requirements and certifications are ones that you have. If not, add them via a community college course, workshop, online offering. Always do your due diligence to be sure the program and credential you are seeking is from a reputable organization. If you’re currently employed, raise your hand and ask to attend continuing education programs.
“Learning something new can also go a long way from helping you stay fresh and love your job. Even taking one class can jumpstart your attitude. Your thinking shifts when you learn new things. It’s a great way to fight boredom, which really is what makes most people say they hate their jobs. They don’t identify it as that, but there it is.” Other such tips can be found in Hannon’s book, Love Your Job: The New Rules for Career Happiness.
Finally, if you’re Over 50 and have experienced a job loss, Hannon advises to not let your ego run your new job search. “I believe some older workers have unrealistic expectations of their value in the workplace in terms of what an employer is willing to pay, and they turn down opportunities. They’re stuck on a certain salary or a title and their ego doesn’t let them go for it. My advice is to find ways to add value around the edges — negotiate for more vacation, flextime, the opportunity to telecommute, bonuses and so on. There are lots of ways to make up for the pay gap, if you really want the job,” Hannon said.
This story was originally published April 8, 2016 at 11:15 AM with the headline "In Pursuit of Profession: Over and out?."