Labor shortages and a war for talent have left companies with numerous vacant positions and a shallow pool of prospects. With increasing demand and a volatile market, employers are thinking outside of the box to find the support they need. Knowing that full-time positions are difficult to fill, many are finding relief in contracting recently retired employees.
Increased Hiring Challenges
Record-level turnover and a flood of resignations have left companies across multiple industries with staffing shortages. In addition, hiring packages have become more competitive and complex, making it difficult to attract the talent they need. Desiring more than an attractive salary, many job seekers are looking for the added perks of flexibility, increased PTO, and other lifestyle benefits to meet their shifting priorities. With such a competitive labor market, hiring managers are looking to new avenues for recruitment, including bringing retirees back into the workforce.
Bringing Back the Baby Boomers
Recruiting from a pool of former talent has helped companies ease the current surge in demand. They’re especially finding success within their community of recently retired employees. The baby boomer generation, known for their hard work and ethics, is in the midst of retirement. However, some are finding the pace of retirement difficult to adjust to. A generation that found identity through their careers, many are reaching retirement and feeling a void without the purpose and mental stimulation provided from their rich careers. Contract work offers them the flexibility to return to the workforce on a part-time or limited-time basis. A semi-return to the workforce can also fulfill their need for purpose and mental stimulation and ease the boredom of retirement.
A Win-Win
The advantages of hiring the recently retired are many. By reaching out to retired employees with contract work opportunities, hiring managers are able to immediately provide support to an overburdened team. They have decades of experience and expertise, needing little-to-no training. Contract work also allows the flexibility to meet the ebb and flow of market demands while remaining a limited commitment for retirees looking to stay semi-retired. And perhaps the biggest advantage, trust. Having worked for companies through their retirement, former employees have already established trusting relationships with their colleagues, and have thoroughly demonstrated their skillset and work ethic. Bringing back recently retired employees allows companies to meet their hiring needs without the added risk of bringing in new talent.
Is Your Company Considering Contract Work?
At Congruence Talent Solutions, we recognize the value of retirees and the strength of their knowledge. If you’re looking to bring back retirees on a contract basis, we can assist you with that process. Contact us today for more information on how contract work could benefit your business.
About Congruence Talent Solutions
Our team of experts offers decades of experience and knowledge to connect our corporate partner firms with the highest-caliber candidates to meet their needs.
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