Older Workforce Blues: Fortune Magazine Article
Fortune Magazine's article about the aging workforce, "Permanent Vacation, 50 and Fired", May 2, 2005 By John Helyar discussed some important points that anyone even below 50 should consider. The article begins by discussed the state of employment affairs for the 50+ set; a somewhat depressing view of work prospects for the highly experienced. However, the article progresses into a discussion of the end of the baby boom, where the supply of 35-44's decreases significantly.
"From 2002 to 2012, the U.S. Bureau of Labor Statistics projects that the number of 35- to 44-year-olds in the labor force will decline by 3.8 million, while the number of available 55- to 64-year-olds will increase by 8.3 million."
For me, the biggest takeaway from this article (although I am not yet 50; however it's not that far away either) is what one executive calls the "multi-revenue stream model". Said another way; turn your experience and age into an advantage - consult. Or as this same executive states;
"Nobody wanted to buy him, but maybe they’d rent him."
Leverage your experiences and background to help smaller companies to improve their business plan, their strategy; show them how they can grow. Not many 30-somethings have this ability.
This is the pathway that I am considering for myself; while I am still employable and not yet 50.
Click here to read this article.
Posted at Tuesday, May 10, 2005