TORONTO – February 4, 2006. Early retirees in their 50s valued for their experience, work ethic, writes Virginia Galt of The Globe and Mail.
Want to travel and earn some postretirement income at the same time? Think bigger than Winnebago.
Coastal Pacific Xpress Inc. of Surrey, B.C., is actively recruiting retired truckers (and retired trucker couples) to keep rigs on the road in the face of a shortage of young drivers and a declining interest in trucking as a career.
"We greatly value early retirees — people in their 50s — and we believe a career at CPX can work for them," says general manager Jim Mickey.
But Mr. Mickey faces competition in the "mature worker" market.
There are increased options for older Canadians who want to keep on truckin' after retirement in some form or another, says Barry Witkin, whose Prime50 employment service for older workers was recently acquired by the human resources firm Drake International.
Firms such as Home Depot Inc., Avis Rent a Car and Royal Bank of Canada have long recognized the value of older workers, and were among the first winners, in 2004, of the newest wrinkle in best employers awards: Best Employers of Fifty-Plus Canadians.
"We're getting calls from different companies in the financial area, trucking, hotels. We're getting a lot of calls from different transport companies...Laidlaw has hired us to find bus drivers. They want older bus drivers, and they are prepared to train them," Mr. Witkin says.
"There's much more interest now."
When Mr. Witkin, an accountant, founded his employment service in 2004, there was still a lot of discrimination against older workers, he says. But he has noticed a dramatic shift. "Drake sees this as being a very key age demographic that they want to promote to their clients right across the country."
Karen Meredith, president of Drake North America, says employers are starting to face a shortage of skilled workers as the population ages. At the same time, there are many recently retired employees who "want the opportunity to continue on in rewarding employment that makes use of their talents and experience."
Mr. Mickey says it is particularly difficult to recruit young people into the trucking industry and other "dirt-under-the-fingernails" sectors, which is why employers are hoping to lure experienced older Canadians out of retirement.
A trucker couple owning their rig could earn $100,000 a year between them, Mr. Mickey says.
A recent survey conducted in the United States for Putnam Investments uncovered a major shift in thinking about retirement, with growing numbers of the recently-retired either wanting — or needing — to return to the work force. The Putnam survey of 1,726 U.S. retirees who returned to work found that one-third went back out of economic necessity, but that most missed the stimulation of work.
Their retirements lasted an average of 1½ years before restlessness set in, with most finding re-employment in jobs requiring at least the same level of skill and experience as their previous positions.
Most of those who returned to work by choice rather than necessity did so because they felt that work would keep them healthier, more energetic and in top mental form, the researchers found.
"The working retired see retirement as an opportunity for growth and fulfilment, and pursue these goals in large part through continued employment," David Tyrie, director of retirement services at Putnam, said in releasing the survey results. The majority opted for part-time employment, putting in 29 hours a week on average, the survey found.
"Our study shows retirement in the United States has already moved far beyond ending work at age 65, gold watches, and early-bird specials," said William Connelly, head of retail management at Putnam. "For many, retirement is just a planned pause before resuming a career. These 'working retired' are, by our estimate, now almost one-third of American retirees," he said.
Many of those older workers listed on Mr. Witkin's Prime50 job web-site were forced into retirement before they were ready through downsizings and restructurings, although he also has a substantial pool of financially secure retirees interested in second careers.
The easing of mandatory retirement laws in Canada opens up more options for older employees and for employers, Mr. Witkin says.
There are more opportunities, he says, "for us to help older Canadians and the companies looking for the track record they offer, including their work ethic and sense of loyalty."