Baby boomers are struggling to get jobs due to a combination of factors, including age discrimination, outdated skills, and lack of tech experience. Despite their experience and qualifications, many boomers are finding it difficult to compete with younger workers in the job market.
Even though they may be aging out of the job market, there are still baby boomers who want to be in the workforce. The problem is that the workforce is having trouble welcoming them. Boomers who are 62 to 80 years old may not be preparing for retirement. Instead, they may want to work a job on the side, especially if they are at the younger end of the generation.
1. Younger workers cost less
If you plan to retire early but still want to be in the workplace, keep in mind that it can cost employers more to hire you. One of the biggest reasons that boomers are having issues with finding jobs is because of the younger competition. Yes, it’s illegal to discriminate and not hire workers based on their age, but employers can justify it in this case by simply hiring someone with less experience, which typically means a smaller salary.
2. Older workers may have outdated skills
Older employees have been in the workforce for decades, which could help them when it comes to building skills that are needed for particular positions. But those skills could be outdated by now, which could affect your ability to compete against younger workers with more relevant skills. Instead, you may want to consider ways to refresh or update your skills while still working, such as certification courses or night classes, to build your current skill set for today’s needs.
3. Boomers may not have tech experience
It may have been easy to slide by without knowing how to use an email program or write a document on a computer, but those skills are now considered the basic minimum skills needed for many positions. While you may not have needed any tech skills at all in your previous career, you may need to learn some before you can get pretty much any job today.
4. Many are trying to get the same position as younger workers
Some boomers may have been forced out of their positions instead of voluntarily retiring. But being out of the workforce for an extended time might mean you have to make some compromises to get back in. One of those compromises is not to expect to get a position at the same level that you had when you left the workforce.
5. Boomers haven’t built up a network
Walking in the door with a resume was a quick way to land a job for boomers, but those days are disappearing. Instead, job seekers may find it important to build up a network online with sites like LinkedIn to look for jobs or find someone at a company that they can connect with to get a leg up on their application.
6. They haven’t kept up with the company culture
Company culture has changed since boomers first started working in industries, and you may be left out if you aren’t willing to adapt. For boomers, adapting could be switching to new technology and more work-from-home options, or talking to your co-workers in a way that’s different from how you talked to co-workers when you started in the business.
7. College degrees don’t have the same power
Boomers may think that having a college degree is all they need to get a job in the current environment. After all, that’s all it took for them to start their careers. However, college degrees don’t hold the same value that they used to. A degree may get you in the door for an interview, but it’s not a guarantee that you’ll get the job.
8. Boomers are competing with each other for jobs
The days of being loyal to one company are gone. Now, workers often desire to leave their jobs for something better. But that interest in switching jobs means that boomers are competing with not just younger employees who are also looking for a chance, but also other boomers who are just as desperate as they are.
9. They haven’t updated their resumes properly
Resumes have changed over the years, and what worked for boomers when searching for their first jobs decades ago might not work now. It’s essential to review your resume with an eye for items that need to be optimized for today’s workforce. Remember to focus on buzzwords that can be picked up by applicant tracking software and consider dropping older experiences, so only the past 10 to 15 years are represented.
10. Many aren’t willing to adapt
It can be hard to be in the position of looking for a job when you’re a boomer, but there are ways to make it work if you’re willing to compromise. Boomers may expect full-time jobs with benefits like a pension, but that’s not what is covered by as many current positions today. So you may have to be willing to settle for contract work, hours that are not typical for a 9-to-5 job, or part-time work before moving up in a company.
Job hunting as a boomer can be difficult to get back into the workforce and secure a stable job, but there are ways to still make yourself marketable to get that job and build your wealth. Remember that it’s essential to continue learning no matter your age, so take some extra courses or get certifications in skills that can help you stay secure in your job.
For more information on how to navigate the job market as a baby boomer, check out the FinanceBuzz website, which provides tips and resources for boomers looking to get back into the workforce.
If you’re looking for ways to improve your financial fitness, consider checking out the Bloomberg website, which offers news, analysis, and tools for investors and financial professionals.
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