Jobs Sites Boom for the 50-Plus Set
Yahoo News, October 30th, 2007
The challenge: matching older workers who aren't financially ready to
retire, or simply want to stay active, with companies eager to hire
such employees. The solution: websites where seasoned job seekers can
post their résumés and sift through job postings and companies can list
jobs (often for a fee) or buy ads aimed at an older workforce.
There's
been an explosion of these websites, and the reason is simple: Many
people are faced with the prospect of working longer than they might
have planned. Social Security is replacing an increasingly smaller portion of household earnings,
many workers' 401(k)'s and IRAs contain only modest balances, and
Americans are often saving virtually nothing outside of these
retirement funds.
Luckily, much of the retirement savings shortfall can be offset by working as little as two to four years extra, according to Boston College's
Center for Retirement Research. A survey of 400 employers by the center
found that a quarter of workers in their 50s will be financially
unprepared for retirement and will want to stay on the job at least two
years past the traditional retirement age.
Of course, that doesn't necessarily mean that employers want older
workers—who are often more experienced but also more expensive than
their younger counterparts—to stay. The center found that employers are
lukewarm about retaining even half of their older workers who want to
keep working.
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