Survey Shows Retirees Will Return To Work With Incentives
August 23, 2022
by Michael Yublosky
The statistics reflected below reinforce the reporting I have been doing here on Xbound over the past several months. They should serve as an additional wake up call to employers on how to attract experienced, capable senior adult workers 50+ who can fill those often complained about cast amount of job openings.
These results are from a survey completed for the American Staffing Association entitled “ASA Workforce Monitor – Summer 2022“. The survey was conducted by The Harris Poll and is available free online in a seven page PDF file.
Of the 2,027 adults surveyed, 459 were unemployed and retired older workers. Some 41% of retirees agreed or strongly agreed when asked if they would unretire and take a job that offered a flexible work schedule. When asked if they would look for a full-time job where they could work remotely, 35% agreed or strongly agreed.
More than four out of 10 retirees, or 43%, cited their age as a factor they believed would prevent them from finding a new job. Health issues and worries about COVID-19 accounted for another 21% of concerns they believed would prevent them from finding a new job.
Only three percent of these older adults responded they were currently looking for work while another 11% claimed they would be open to returning to work but were not actively looking. A whopping 86% reported that they were not planning to return to work at all.
Fifty-nine percent of the 467 retirees surveyed did list factors that would motivate them to return to work. Highlighting the list was inflation continuing to eat into retirement savings. Next came a tie for both a search for purpose in life and social security failing to cover expenses. Fear of loneliness and the need for social interaction rounded out the majority of the remaining responses.
The survey ask respondents to list their main sources of retirement income. Social security and retirement income headed the list which was not surprising.
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