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Baby Boomers need to re-engineer job expectations
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Baby Boomers have to retool their thinking when it comes to finding a job in the new economy.
When it comes to finding a new job, Baby Boomers "have to realize that wishful thinking is not a job search method."
That is one of the conclusions of the MetLife Mature Market Institute in a new study -- "Buddy, Can You Spare a Job?'
Some of the study's conclusions don't come as much of a surprise.
For instance, 50 percent of respondents say that within the past two years they have changed their minds about when they will retire and that it is later than they originally planned. The recession -- and what it did to retirement savings -- did that to a lot of people.
The biggest revelation is that Baby Boomers haven't yet totally re-tooled their thinking for finding a new or different job in an environment where jobs are difficult to come by.
The study reveals the seven deadly sins of their thinking:
- “I’ll just do what I was doing before.”
- “My experience speaks for itself.”
- “I don’t have time for this touchy-feely stuff about what work means to me.”
- “I know! I’ll become a consultant!”
- “Of course I’m good with computers.”
- “I’ll just use a recruiter for some career coaching.”
- “I’ve always been successful, so why should things be different now?”
Said the study: "The expectations older Boomers have about working after age 55 are often painfully unrealistic. Earnest, well-prepared job seekers in their fifties and sixties are often totally unprepared for the responses of potential employers."
For older job seekers, the study recommends:
- Realistically assessing the changing local employment market in their region;
- Translating past experience into future value for a potential employer;
- Updating technology skills;
- Keeping their network of contacts fresh and active;
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Managing their own ambivalence about work in spite of a typically under-capitalized personal retirement fund.
