It’s a new day and a new time in today’s world of work. A shifting economic landscape continues to drive significant changes in the American workplace. Nearly every aspect of the country’s workforce has changed in the last 50 years. The demographic makeup of who goes to work is radically different, along with the type of work individuals do, how they do it, where they do it and even how they save for retirement.
♦ One full-time job occupied one physical space.
♦ Requirements for different jobs were similar.
♦ Decision-makers were impacted by long-standing prejudices: age, hiring choices, etc.
♦ Limited use of flexible/temporary contributors.
♦ Virtual work was virtually unknown.
♦ Workers may not be needed or hired on a fulltime basis. More than 40 percent of the workforce are not employed on a full-time basis in regular jobs at a physical office/factory.
♦ Changing demands equals shifting qualifications and skills. The workforce must learn, unlearn and relearn lessons and skills in this new world of work. Skills are more important than degrees. Eight out of 10 opportunities do not require a degree, but all require updated skills.
♦ The retirement age of 65 is a remnant. The average lifespan has increased by over 17 years since Social Security (SS) began.
THINGS TO CONSIDER
♦ Without additional income, you are likely to outlive your money. Don’t count on SS benefits as your major source of income. In fact, the future of Social Security is a serious concern.
♦ An increasing number of us will be alone as we mature because of a spouse’s death or, even more likely, because of divorce. Will social isolation prompt you to seek some form of work?
♦ Research confirms that social engagement, working and learning throughout our lifetimes help reduce the risk of cognitive decline.
♦ Replace the word “jobs” with the word “work.”
♦ Reach out to the community to learn new skills and invigorate our social connections.
♦ Work part-time, some of the time or remotely.
♦ Continue to live a balanced life that matters.
It’s time to explore alternatives that are suited to our time of life in this fast-changing world.