Bringing back retirees on a temporary or contract basis is one of the key strategies employers are using to prevent potential future worker shortages, according to a poll conducted by the Society for Human Resource Management (SHRM) and AARP.
The poll surveyed human resource professionals about how they are planning for potential worker shortages that could be created by mass retirements. One in five respondents stated that the loss of talent will be a problem for their organizations, while 45 percent said it was a potential problem.
Many of those organizations are looking for ways to recruit and retain Baby Boomers. One of the most popular techniques that 40 percent of the respondents said they are currently using is hiring retired workers as consultants or temporary workers. An additional 23 percent plan to turn to retiree re-staffing in the future. Larger organizations with 100 or more employees were more likely than their smaller counterparts to utilize retirees in contract positions.
This sounds like a win-win for both the organizations and retirees. As we have reported previously, many Baby Boomers approaching retirement age are either unwilling or unable to quit working altogether, but many of them are looking to reduce the time they spend working and have more flexibility with their schedules, which are both benefits that contracting can provide. And it's obviously a huge benefit to companies to be able to retain the knowledge and experience that their older workers bring to the table. As a recruiter, this could be a win for you, too, if you offer contract staffing services to your clients and candidates!