The economy remains pretty wobbly but if you’re in business, you still have to get the work done. In a variety of situations, using workers who’ve already retired to meet your staffing needs may be a smart move. Here are a few to consider.
Essential expertise doesn’t exist within current staff. Occasionally, an old project will come back to life temporarily. If your current workforce doesn’t have the expertise needed to get that work done, think carefully before you ask one or more of them to acquire it. Do they need to know those things for any other reason? If not, it may be faster and more effective to arrange short term or part time employment with one or more of those who worked on the project originally.
Unseasoned workforce with complex work demands. Even if the project is new or the situation is recent, including people with extensive experience in the mix can make a huge difference in how quickly inexperienced workers become proficient. If you don’t have the budget to hire an old pro full time, hiring retired talent on a flexible basis to serve as coaches or mentors may be a win/win arrangement. Having them be available by phone as needed and on-site on a more limited basis might cut costs further and can still produce good results.
Absenteeism. Studies support that older workers are more punctual and reliable than young workers. If you’re having trouble with absenteeism, you may want to explore whether your age demographic needs more breadth. In addition to being reliable themselves, older workers can help to create a more productive work climate overall as younger members of the team observe their work habits.
Extraordinary projects. When something comes out of left field that you can’t say no to and don’t have staff to cover, you may want look to the people who used to work for you to get it done using a short term work arrangement. You might even get it done faster, cheaper, and better.
Projects outside of current work structure. Maybe you need someone to work from 5 to 10 PM but for just six weeks, or to stay in an uninspiring remote location for a month. A retired ace might be quite willing to take on that as one project even if working full time isn’t of interest.
There’s a rich resource becoming increasingly available to business that remains largely untapped. Staying involved is appealing to many competent workers who have retired, even when they aren’t interesting in working full time because they value their flexibility.
Using talent that’s retired-from your company or somewhere else–on a flexible basis can be both cost effective and rewarding for all involved. If your company has a defined pension plan, there may be ERISA questions you need to answer, but even with that extra step, retired talent is a treasure trove for those who realize it’s available.
About the Author:
Mary Lloyd is a consultant and speaker and author of Supercharged Retirement: Ditch the Rocking Chair, Trash the Remote, and Do What You Love. Her focus is on using on the potential of those over 50. For more, please visit her website http://www.mining-silver.com. She can be reached at mary@mining-silver.com.
