Employers are increasingly turning to older individuals to fill job vacancies, with some companies recruiting seniors on the premise that age equals a stronger work ethic. A significant share of adults approaching retirement age will keep working past the age of 65, with some doing so for sustained income and benefits, others for mental enrichment and social interactions that might prove increasingly hard to come by. Aging workers are in demand because they are reliable, mature, and professional.[0]
While their reasons may vary, nearly half of all adults 55+ who plan to work past the age of 65 or already are doing so to maintain a steady source of income. The second biggest proportion, comprising one-quarter of this demographic, will continue to work in order to maintain their mental and emotional well-being, while 16% do so for perks such as health insurance.[1] Interestingly enough, those aged 55-64 whose annual household income is $100,000+ are the most likely to say they’ll definitely work past the age of 65, while those earning under $50,000 are the least likely to say the same.
“There tends to be people whose health permits them to continue working, and who have jobs that aren’t so wearing and tearing,” says Susann Rohwedder, associate director of the RAND Center for the Study of Aging.[1] Even so, they remain productive and involved in activities that are both socially engaging and fulfilling, and perhaps even enjoyable for some.[2]
Several studies have been conducted on the relationship between retirement and happiness, some of which suggest that not retiring may be associated with greater happiness. According to a 2017 publication in the Journal of Occupational Health Psychology, individuals who worked beyond their retirement age enjoyed improved health and well-being compared to their retired counterparts. According to the researchers, it is possible that work plays a crucial role in providing individuals with a sense of purpose and social connections that are essential to their overall well-being.[3]
However, spend some time looking at various careful studies on the question, and the results vary considerably.[2] According to the study titled “Does retirement enhance health and satisfaction with life?”, the authors discovered compelling proof that retirement enhances self-reported health, mental well-being, and overall life satisfaction.
Typically, the elderly possess a stronger work ethic, do not subscribe to the “woke” ideology that looks for excuses to avoid work, and exhibit greater expertise in the field related to the job.[0] In 2022, the National Bureau of Economic Research published a working paper indicating that certain jobs are more accommodating to individuals of varying ages. According to the authors, elderly employees possess unique abilities and choices, like a preference for increased independence and reduced occupational risks.[4]
Overall, employers are looking for competent, self-motivated, and self-reliant employees who can execute their job duties in a consistently reliable manner without any drama.[0] And it seems that older individuals fit the bill.
0. “Aging Workers Are in Demand; They Are Reliable, Mature and Professional” AMAC, 17 Mar. 2023, https://amac.us/aging-workers-are-in-demand-they-are-reliable-mature-and-professional/
1. “Your Healthiest and Wealthiest Employees Will Probably Work Past 65” CivicScience, 3 Apr. 2023, https://civicscience.com/your-healthiest-and-wealthiest-employees-will-probably-work-past-65/
2. “Working past the traditional retirement could be good for your health, but only if you’re rich” Fortune, 6 Apr. 2023, https://fortune.com/well/2023/04/06/is-working-past-retirement-age-good-for-your-health
3. “A Traditional Retirement Isn’t for Everybody” Psychology Today, 5 Apr. 2023, https://www.psychologytoday.com/au/blog/emotional-fitness/202304/a-traditional-retirement-isnt-for-everybody
4. “The 10 Most Enjoyable Jobs for Older Workers” msnNOW, 30 Mar. 2023, https://www.msn.com/en-us/money/careersandeducation/the-10-most-enjoyable-jobs-for-older-workers/ar-AA19gTmO