A recent study by a collaboration of several US universities, The Federal Reserve and Vanguard – an American investment management company - concludes that there is a strong willingness to work for older workers, particularly if they can work flexible hours. 60% of retirees sampled were interested in working again if flexible hours were an option and were also open to earning less than they earned in their career jobs.
They suggest that “labor force participation near or after normal retirement age is limited more by a lack of acceptable job opportunities or low expectations about finding them than by unwillingness to work longer.” The study goes on to conclude that “demand-side factors, in particular those that discourage part-time work, are likely to be important in explaining current late-in-life labor market behavior and need to be considered in designing policies aiming to promote working longer.”
The study highlights the importance of flexible work opportunities for older workers, suggesting if there were more flexible work opportunities available then more of this critical talent group would be engaged in work.
Read the full study here.
Nextwork is an innovative work platform that makes it easy for organizations to hire experienced, flexible, and proven talent on demand. Nextwork gives older workers more choice and control over if, when, and how they work and organizations get cost-effective access to critical knowledge, skills, and experience they need, when and where they need it. Everyone wins.