Friday 22 February 2013

How to get a job once you’re 50.

As someone who is now firmly in their fifties, along with my friends I’ve increasingly wondered about the employment opportunities versus the options a potential employer has to fill their openings with someone younger and cheaper.


For all of them it’s not just about finding a job, it’s about finding a job they wanted. Ensuring that they “stand out” among the candidates being considered required them to take stock of the factors that were motivating them.

The first was reflecting on the question, “Why am I still looking to be gainfully employed at my age?” My dad retired at 55, and he’s enjoyed his retirement until he passed away in his mid eighties. In the generation of my parents, with life expectancy a decade less than it is today, retiring between 60 and 65 years of age was the norm. Looking at my generation, many of us “Baby Boomers” lead healthier lives than our parents did. We eat better, exercise more, smoke less, and take better care of ourselves. We can expect to live longer. Given this, why not extend our professional careers at least a decade beyond that of our parents?

Another factor influencing people to remain employed longer is a financial one. Our spending and saving habits are not as rigorous as our parents, and many of us extended ourselves, having taken on bigger mortgages, and paid to put our children through private high schools and college, or simply enjoyed our lifestyles more than they did at a comparable age. The current savings rate allied to the state of the European economy hasn’t helped matters either.

Whether by choice or necessity, many of us who may have wanted to retire at the age our parents did could be facing another 10 years of employment, with retirement more likely closer to 70 years of age versus 60, particularly if we want to live comfortably in our “Golden Years”. There are many things you can do to strengthen your candidacy when you are faced with finding employment in your fifties or later. Here are four areas to focus on:

1) Research the market rates for the positions that you plan to apply for

You need to understand what the market is willing to pay for a person with your background and experience. Appreciate that your most recent total package may not represent what the market is now willing to pay. This is particularly true if you were released from a company that employed you for many years, providing you with annual increases that brought your total income to a level that is no longer “marked to market”. This is important. While you may feel you earned every penny that you were paid, you need to understand that if your goal is to earn the same in your next job, you may be searching for a job for a long time. Make an effort to understand what the market is willing to pay for a person with your experience, and prepare yourself to be willing to accept this level of compensation.

2) Maintain your professional networks

It may be overstating the obvious to remind you that who you know is more important than what you know. Don’t confuse this point, because what you know is in fact important, it’s just that who you know is more important first.

Today, the internet is an easy and effective way to identify job opportunities. Research the companies offering the jobs by reading their websites. Find out who is employed at those companies by scouring a source like LinkedIn and research what is being said about the quality of those firms. Only then should you submit your CV and cover letter. Sounds easy? It is not. If everybody is looking for a job then you need to differentiate yourself from them. How? Use your social networks! Do you know anybody who is employed at the company where you are a candidate? Would they recommend you? Have you worked with them in the past? Have you kept up with them, so they would be comfortable recommending you? If you’re not great about keeping up with current and former work colleagues, professional acquaintances then make a renewed effort at this, as it will most likely pay off for you when you most need it.

3) Don’t become obsolete

As you age, you must embrace technology and its rapid daily evolvement. Whatever you do, don’t become your father. Did he stop having an interest in music after they stopped making vinyl records? Do your parents push every button on your remote controls, to the point it takes you an hour to get everything back to normal. It is imperative you keep up with technological change and embrace it. Don’t allow yourself to become the equivalent of a “technology dinosaur.” Today’s companies embrace technology and use it to their advantage when competing for business. Don’t allow yourself to be eliminated from consideration for a job you desire because you have lost touch with technology.

4) Preparation, preparation, preparation!

“Failing to prepare is preparing to fail”. I couldn’t give better advice. Here are several key components to being prepared:

• Have your CV professionally written for you – There are dozens of companies willing to help you with this, some of whom will do it for free. They will work with you to create a CV that is germane to your experience and highlights your greatest competencies.

• Check your wardrobe – Have you been working in a “business casual” environment for years? Does your suit or blouse no longer fit the way it did when you purchased it? Is the style of your clothing representative of a different time? Spend a little money to make certain the first impression you make is a quality one.

• Have you researched the company you will be meeting – Do you know their turnover? Do you know what their primary product and service offerings are? Are they a public company? If so, what is their stock trading at? Do you know where their primary offices are? Do you know who their main competitors are? Have you read their website? Do you know who the members of the management team are? Take the time to learn this information, as it may distinguish you from your competitors during your interview.

• Interview your interviewer - This is a must! When the interviewer finally asks you if you have any questions, it is not ok to say, “No, not at this time.” Be prepared to ask your interviewer two or three questions. Asking questions expresses genuine interest on your part. Here are a few you can ask:

• “What are the strategic plans for growth for the company over the next three years?”

• “Who are your main competitors, and how do you go about beating them, in the markets where you compete with them directly?”

• “What is the company’s commitment to community service?”

• “Does your company have a Mission Statement or Core Values statement?”

• “How would you describe the culture of your organization?”



Whilst my generation is more inclined to seek permanent employment, the workplace has evolved to a point where most companies now employ a mix of consultants and contractors as a strategic component to their workforce. These tips are equally useful should you desire to pursue contract work instead of permanent employment and apply to the under fifties as much as us over fifties!