Jobs Scarce for Oldest Workers; Consider
Entry-Level, Internships, Moving, Self-Employment
CareerBuilder survey finds 63% age 55 and older laid
off in the last 12 months have applied for jobs below the level at which
they were previously employed
July
22, 2009 - Mature workers, a critical workforce segment, has been hit
particularly hard by the mass job losses in the market, according to
CareerBuilder. Twenty-eight percent of workers age 55 and older who were
laid off in the last 12 months found new jobs, the lowest of all age
groups. This compares to 71 percent of those ages 25 to 34.
A new study from CareerBuilder shows mature workers
are expanding their job search to include entry-level positions,
internships, relocation and other options to secure gainful employment -
and employers are open to it.
Starting Over at Entry-Level
The majority (63 percent) of workers age 55 and
older who were laid off in the last 12 months said they have applied for
jobs below the level at which they were previously employed; 44 percent
have been told by employers that they are overqualified.
In an effort to bring in a steady paycheck and get
their foot in the door with a new organization, mature workers are now
competing with recent college graduates and other new entrants to the
workforce for entry-level positions.
One-in-four employers (26 percent) reported they
have received applications from workers over the age of 50 for
entry-level jobs (but not retired); an additional 11 percent have
received entry-level applications from retirees. The vast majority of
employers (65 percent) said they would consider experienced candidates
who apply for jobs for which they're overqualified.
Applying for Internships
Mature workers are also exploring internships as a
way to land a longer term employment opportunity. Seven percent of
employers reported mature workers have applied for internships at their
organizations. Four percent have hired mature workers while 55 percent
would be willing to consider mature workers for internships.
Considering a New Location
Embarking on a new adventure by moving to a new
location is another option for some mature workers. Of mature workers
who were laid off in the last 12 months and did not find a new job, 41
percent stated they would consider relocating to another city or state
to find employment.
Becoming Their Own Boss
Some mature workers are using a challenging job
market as a catalyst to entrepreneurship. Of mature workers who were
laid off in the last 12 months and did not find a job, 23 percent are
considering starting their own business.
"Mature workers offer a wealth of knowledge and
experience that has translated into a significant competitive advantage
for employers," said Rosemary Haefner, Vice President of Human Resources
at CareerBuilder.
"Employers are considering mature job candidates
for a variety of positions ranging from entry-level to senior-level to
consultants to leverage their intellectual capital and mentor other
workers.
Twenty-nine percent of employers have hired a
worker age 50 or older for a permanent position within their
organization over the last six months."
Of those mature workers who were laid off in the
last 12 months and found another job, 26 percent took a job in another
field with the vast majority (75 percent) reporting that they are
enjoying the experience.
In terms of compensation, 40 percent landed
positions with similar pay and another 13 percent found jobs with a
higher compensation rate than what they were previously earning.
Forty-eight percent took a pay cut.
Postponing Retirement
In addition to applications received by mature job
candidates, employers are also receiving requests from staff members to
stay with the company longer.
One-in-five employers (21 percent) reported, over
the last six months, current employees approaching retirement age have
asked them to postpone their retirement. Of that 21 percent, the vast
majority (86 percent) said their organizations are open to postponing
retirements, pointing to the following benefits:
● Employers want to hold on to their
intellectual capital (65 percent)
● Mature workers can help train and mentor
others (61 percent)
● Mature workers know how to weather a tough
economy (42 percent)
● Employers have more time to transition
responsibilities (36 percent)
For more information on job opportunities for
mature workers, visit
PrimeCB.com, CareerBuilder's job search site tailored for mature
workers and retirees.
Survey Methodology
This survey was conducted online within the U.S. by
Harris Interactive© on behalf of CareerBuilder between May 22 and June
10, 2009 among 921 U.S. workers ages 18 and over who have been laid off
in the past 12 months from a full-time position (percentages for some
questions are based on a subset of U.S. workers, based on their
responses to certain questions) and 2,667 hiring managers and human
resource professionals (employed full-time; not self-employed; with at
least significant involvement in hiring decisions; non-government) ages
18 and over. With a pure probability sample of 921 and 2,667, one could
say with a 95 percent probability that the overall results have a
sampling error of +/-3.23 percentage points and +/- 1.9 percentage
points. Sampling error for data from sub-samples is higher and varies.
How CareerBuilder describes itself
CareerBuilder is the global leader in human capital
solutions, helping companies target and attract their most important
asset - their people. Its online career site, CareerBuilder.com, is the
largest in the U.S. with more than 23 million unique visitors, 1 million
jobs and 32 million resumes. CareerBuilder works with the world's top
employers, providing resources for everything from employment branding
and data analysis to talent acquisition. More than 9,000 Web sites,
including 140 newspapers and broadband portals such as MSN and AOL,
feature CareerBuilder's proprietary job search technology on their
career sites. Owned by Gannett Co., Inc. (NYSE:GCI), Tribune Company,
The McClatchy Company (NYSE:MNI) and Microsoft Corp. (Nasdaq: MSFT),
CareerBuilder and its subsidiaries operate in the U.S., Europe, Canada
and Asia. For more information, visit
www.careerbuilder.com
