Workers older than 65 continue to be drawn to new jobs

Dive Brief:

More and more Baby Boomers with no physical disabilities are working jobs in the construction or transportation industries even after they turn 62, the earliest age they are eligible for Social Security, according to a new study by Indeed Hiring Lab.
The lab identified the top jobs by assessing the clicks from job seekers aged 62 or older on Indeed's site. Their top picks included piping designers, construction superintendents, construction superintendents, senior captains, senior pastors, site superintendents, project superintendents, shuttle drivers, chief dental officers and electric designers.
In its research, Indeed also polled older workers for their interest in part-time jobs. This list of 20 positions featured nine driving jobs such as shuttle drivers and parts driver. Three of these driving jobs made the top five part-time gigs.

Dive Insight:

More and more workers over age 65 are raising the curtain on the "second act" of their careers, rather than taking a bow and fully relaxing into retirement. In fact, this age group is the fastest growing segment in the workforce, according to a Single Living report. Some older workers can't fathom life without the structure or excitement of a job, but many simply don't have the money to retire.

Employers focused on the healthcare costs associated with an aging workforce might prefer that older workers not stay on past the official retirement age. But setting mandatory retirement policies can unleash legal backlash. The U.S. Equal Employment Opportunity Commission (EEOC) cited a dental surgery practice for having a mandatory retirement policy, which the agency said violates the Age Discrimination in Employment Act (ADEA). The dental practice paid $47,000 to settle the case.

As an alternative and legal option, offering older workers flexible work schedules, such as part-time work or phased retirement, can help them continue to earn a wage and have a lighter workload, while easing into retirement — an arrangement that tends to be good for the companies, as well. Some companies are opting to beef up their 401k contributions, trying to ensure that older workers save enough to retire on time, according to the Wall Street Journal.

Older workers, of course, help drive the gig economy, according to a Mavenlink report. This means that as more organizations hire contingent workers to fill temporary jobs, they might find that the skills, knowledge, expertise and experience older workers bring keeps their companies agile and helps them overcome the skills gap.