Thanks to a healthy lifestyle and rising life expectancy, many seniors now look Post-retirement jobs from regular jobs. Several reasons can be attributed to this trend, from their desire to stay actively engaged and socially connected to ensuring financial security and fighting loneliness.

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According to Neeraj Sagar, founder and CEO of Wisdom Circle, a platform that helps retirees find jobs, “The motivations for rejoining the workforce are multifaceted. The primary reason is a profound desire to remain actively engaged and seek mental stimulation through purposeful pursuits. Moreover, what truly resonates with senior professionals is the sense of fulfilment derived from sharing their invaluable knowledge and experience with the next generation.”

The Asian Development Bank’s (ADB) “Aging Well In Asia: Asian Development Policy Report”, released in May 2024, highlights that physical and mental health, productive work, economic security, and social engagement are critical for their well-being.

However, the availability of jobs post-retirement can be limited, especially in the corporate space, although certain skills continue to be in demand. Acknowledging the trend of post-retirement work, Niti Aayog’s position paper Senior Care Reforms in India, published in February 2024, sought a policy push in this regard, leveraging retirees’ knowledge and expertise or re-skilling them, while creating alternate employment opportunities.

Here’s a look at the jobs available for senior citizens, challenges they face for reemployment, and what makes them a valuable resource for hiring:

Brings Invaluable Experience, May Work For Less

Retirees bring years of experience to the organisation, remain loyal to the company and don’t switch jobs easily. In most cases, they even work for less just to utilise their time and skills.

Premkumar Raja, co-founder and secretary, Nightingales Medical Trust, a non-government organisation (NGO) in Bengaluru, which conducts job fairs for seniors, says, “We have quite a few senior citizens in our NGO, and as an employer, I’m satisfied because they don’t look for other jobs. They are satisfied with the morning-to-evening jobs, timely salaries, and no stress.”

Rising Trend of Corporates Hiring Seniors

Says Cynthia Gokhale, marketing director, corporate communication, and customer service of ManpowerGroup, a workforce management solutions company, “There is a rising trend across sectors and geographies to hire senior citizens. They bring more stability and unmatched experience to the organisation. The sky is the limit for people having expertise in cybersecurity and other technical fields, manufacturing and production, and creative and academics field.”

For top positions, companies seem to be open to people above 60. For instance, according to data aggregator PRIME Database, of the 15,112 individuals on the board of the National Stock Exchange (NSE)-listed 2,375 companies as on July 9, 2024, around 39 per cent are 60 and older, 50 per cent are less than 60, while the data for the rest 11 per cent was not available.

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What Are The Challenges?

Says Raja, “Age discrimination, physical limitations, adapting to new work environment, and technological adaptation are the primary challenges that seniors face in their second innings.

While small businesses are more open to hiring senior citizens, corporates are still biased toward a younger workforce.” Age-related ailments also hinder their hiring chances, adds Gokhale.

Conclusion

Many seniors take up post-retirement work because they need financial security, or, when they are looking for a purpose in their retirement years. However, financial security plays a major role for choosing to work after retirement. The ADB report cited earlier observes that pension or economic security can affect a person’s willingness to work.

But it would be wrong to consider that seniors look for work only because they are looking for a regular stream of income. According to Raja, picking up work after retirement can bring purpose to seniors’ lives and improve their self-esteem.

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