Whether you are nearing retirement or already retired, arworking after e you thinking about an “Encore career?”  For some, encore careers are simply figuring out new ways to keep working.  For others, encore careers can be the beginning of a new chapter where you follow a passion or interest in the work you seek.

There’s  free webinar on June 17 at 8 p.m. about Encore Careers with a panel that’s worth a listen.

You can join Pulitzer Prize-winning journalist Anna Quindlen, best-selling author Daniel Gilbert (Stumbling to Happiness), and Civic Ventures CEO Marc Freedman (author of Encore: Finding Work That Matters in the Second Half of Life) in a lively discussion on all aspects of preparing for an encore career.  Moderated by ABC’s Charles Gibson and sponsored by Merrill Lynch, this free, live event takes place during a webcast this Thursday, June 17, at 8 p.m. (ET)   click here to find out more and submit a question. 

As life expectancy increases, and retirement funds slowly work their way back, many people are turning to encore careers.  I’ve run into many people too who are simply bored and ready to re-engage in the workforce in a different way.  If so, check out the webinar and find out more about encore careers.

So, you’ve decided retirement isn’t for you. Or you’ve been “right-sized” out of a job.  Now what? 

Whether it’s for the money or to stay engaged and meet new people or learn something new, the good news is that there are a lot of resources for baby boomers and seniors ready to embark on finding a new career.

 Check out these resources to get you started:

 Encore Careers

When this term first started being used it referred primarily to volunteer activities.  But the recession changed all that.  An encore career refers to a point in time when you finish up work in one field and switch to something new –usually in the non-profit or social mission area.

 One of the best sources on Encore careers is http://www.encore.org.   It includes information and resources no matter whether you are at the beginning or middle of your search.  There’s also a list of transition groups in different parts of the country to help you find local resources and people who share your stage of life.

 Here’s a Business Week article featuring 16 Encore success stories if you are wondering what type of opportunities to explore.

You should also check out the resources at the career website What’s Next  which includes resources, guides and links to career coaches.

 Going Back to School

A growing number of community colleges are offering courses specifically geared to helping people 50+ retool for a new career.  Here’s a map of community colleges with special programs.  

If your local community college is not listed, call them and find out if they have any special programs.  Your local senior center might also offer community college courses at a reduced rate (don’t shy away from the senior center because of its name – many of them have great resources).

You may also find special rates for people 60+ on classes and certificate programs at local colleges and universities.

 With the prospect of increased longevity and increasing costs on such basics as health care, an encore career might be just the right way to energize yourself and your retirement account.

There’s lots of talk these days about working well into what used to be “the retirement years.”  One way people are doing that is by following a passion and becoming a social entrepreneur and making a difference, engaging in what is called “encore careers.”

This week five social innovators received Purpose Prize awards of $100,000 each and five others received awards of $50,000. They include:

• A former telecom executive who helped wire an Appalachian county and brought laid-off factory workers back to profitable farming.
• A professor who invented a way to transform toxic fly ash into green bricks.
• A psychiatrist who helps saves soldiers’ lives by offering free mental health treatment.
• A former NASA exec who works to treat alcoholism in Native American communities by reviving old customs and traditions.
• A couple who honor their son, killed on 9/11, by helping to bring mental health services to countries ravaged by terrorism, violence and war.

You can read more about the winners and see videos about their projects at http://www.encore.org. We think you’ll find them  inspiring.  There were more than 1000 nominees for this year’s prizes. 

“More than ever, the problems facing our communities, our country and our world call out for creative solutions,” said Marc Freedman, co-founder of The Purpose Prize and author of Encore: Finding Work That Matters in the Second Half of Life. “Fortunately, we don’t run out of ideas as we age.”

If you know someone – or are yourself a social entrepreneur over 60 – nominations for the 2010 awards are open until March 5, 2010. The application information is located here.

Motivated to find your own Encore career?  You’ll find lots of helpful information at this non-profit site — http://www.encore.org.

Most baby boomers know that they will need to be working longer. Some can stay longer at the jobs they are at.  But millions of other baby boomers and seniors find themselves in the market for a job for the first time in many years.

It’s a sobering experience. 

And, according to a new research report from MetLife Mature Market Institute it is fraught with challenge and misconceptions. 

“The fact that so many job-seekers over 55 have difficulty finding work means such individuals need new solutions to compete,” said Sandra Timmermann, Ed.D, director of the MetLife Mature Market Institute. “For this group, finding work is a necessity and they would benefit by making major changes in what they present about themselves to potential employers.”

Don’t Do This:   “The Significant Seven”—the most common mistakes older Americans make when they are looking for a job:

1. “I’ll just do what I was doing before.”
2. “My experience speaks for itself.”
3. “I don’t have time for this touchy-feely stuff about what work means to me.”
4. “I know! I’ll become a consultant…!”
5. “Of course I’m good with computers.”
6. “I’ll just use a recruiter for some career coaching.”
7. “I’ve always been successful, so why should things be different now?”

Do This: Five critical success strategies

1. Acknowledge the New Realities of the Job Market – Anger about perceived age bias won’t get you a job. The fact is there are still opportunities for older job-seekers; these will increase in many sectors as the recession recedes. In the meantime, older job-seekers can do three things to better understand the market. First, identify nearby industries and organizations in the region that are stable or growing. Second, look for organizations with a workforce culture that respects all workers. Finally, older job-seekers should look for opportunities in small- to medium-sized companies, which create the majority of new jobs. Self-employment is one other option.

2. Reframe Your Experience to Demonstrate Future Value – Boomers must identify and articulate what specific value they can bring to an organization, while simultaneously recognizing that their underlying skill set must constantly evolve. For example, knowledge of Internet marketing was still new for most marketing managers eight years ago. Today it is a prerequisite for working in marketing. It’s not just about networking and brand building. It’s about clarifying what you have to offer and developing the contacts you need to be taken seriously to compete in this job market.

3. Nurture Your Network –Every job seeker needs to use their existing network, but it’s especially critical for older job-seekers. It’s easiest to do so when you’re clear about your passion and you can connect with people who have similar interests. Discovering your zeal for an area lets you naturally develop and demonstrate expertise, which connects you to people with related interests. These connections are more likely to be a source of new job opportunities than a network of individuals with unrelated interests. Not all networking is about meeting people who might help you find work. It should also be about learning. “Find a volunteer organization with younger people. It’s an advantage to be able to say, ‘I’ve been working with 20-year-olds.’”

4. DOS Is Dead: Update Computer Technology Skills –The most consistent finding from interviews was the need for older job-seekers to update their computer skills. Older job-seekers who aren’t familiar with Facebook and LinkedIn need to learn about them—fast. That doesn’t mean aging Boomers have to reorganize their lives around the latest communication and networking technologies. But they should try them and be able to talk about them, so they aren’t caught unprepared the next time a 40-year-old hiring manager asks, “Are you on Twitter?” Older job-seekers, in particular, must invest time to address this challenge directly, if they hope to stay competitive.

5. Do the Math – Then Manage Your Ambivalence – It may be late for older Baby Boomers to start planning their retirement finances, but they should recognize the conflicting pressures they may have about work and retirement. Despite financial need, a significant segment of those interviewed were ambivalent about staying in the labor force. Job counselors shared stories of program participants consistently sabotaging themselves in job interviews because they were torn about success in their search. Older job-seekers should be clear about their actual financial needs, especially for consistent and stable sources of retirement income, as they struggle with making a decision about finding work.

“Older job-seekers who don’t recognize that they’re viewed differently in the job market are in for a rude awakening,” said Dr. David DeLong, author of the study. “Lots of aging Boomers will need late-career employment in the years ahead and this study shows what they have to do to make themselves relevant and successful in the changing employment market.”

If you want to read the full report, you’ll find it at the MetLife Mature Market Institute website.

Resources:

Jobs listings and tips for older workers-   http://www.retiredbrains.com

AARP Best employers for people over 50

Longevity Alliance Dispatch Newsletter

If you are over 50 and looking for work, check out AARP’s 2009 winners of the Best Employers for Workers Over 50.  The benefits and retirement programs these companies incorporate into their personnel policies are inspiring and innovative.  It demonstrates how helpful employers can be in supporting older workers and preparing employees to make decisions about retirement benefits.

Of course, there is no guarantee any of these employers are hiring right now, but it’s worth adding them to your job search list – especially if you anticipate you’ll be working past normal retirement age.  Also, reading through their programs and benefits can give you some ideas of what to look for in the benefits of your next employer.  And if you’re an employer, you’ll find some ideas on how to make your work environment attractive to older workers.

The winner this year was Cornell University located in Ithaca, New York. Cornell won last year as well. Other winners were: First Horizon National Corporation, a major financial services company based in Memphis ;(#2), the National Institutes of Health (#3);and, computer giant Intel Corporation (#44).

Cornell offers a variety of progressive policies toward aged 50 and over employees, including a formal phased retirement program for faculty and staff, telecommuting and compressed work weeks, a retiree health and prescription drug plan heavily subsidized by the university, paid time off for care giving, and access for retirees to continued university education at no charge. The wellness program includes nutrition and fitness classes, as well as access to several campus fitness centers, swimming pools and a skating rink.

The university is setting up an “Encore Cornell” program that, among other things, will enable retirees to volunteer for short-term or other campus jobs, as well as assisting retired faculty and staff in obtaining paid positions around the country

Finishing second, First Horizon National Corporation, parent company of First Tennessee Bank and FTN Financial.  Its benefits include phased retirement, job sharing, telecommuting and wellness programs. One employee relations manager focuses entirely on the needs of retirees and employees approaching retirement. Those nearing retirement are offered individual counseling on various retirement financial scenarios. Interested retirees are given the opportunity to return to the company to take short or long-term positions.

The National Institutes of Health, the federal agency based in Bethesda, MD, provides many wellness programs, including a fitness center and classes centering on issues such as stress management and smoking cessation. One indicator of NIH’s relationship with its aged 50 and over workers is that, on average, its scientific staff continues to work at the agency more than seven years beyond the date they are eligible to retire. The comparable figure for administrative staff also is impressive: on average, they continue to work more than four years beyond their retirement date.

Besides Intel, other honorees include such major corporations as S.C. Johnson & Son, Inc. of Racine, WI (#6); Adecco Group North America of Melville, NY (#20); Avis Budget Car Rental, LLC of Parsippany, NJ (#35) and Michelin North America of Greenville, SC, (#37).  See the full list at http://www.aarp.org/bestemployers.

Baby boomers and seniors — if your retirement plan counts on returning to work, you might want to do a bit more planning before you retire.  We just completed some research with retirees that found many new retirees thought they might go back to work someday.  But  few of them are considering re-entering the job market any time soon. 

The national survey, conducted by Harris Interactive for Longevity Alliance,  found that:

• Among retirees, 43 percent of them “seriously considered the possibility of someday going back to work” when they first retired.
• Only 16 percent of retirees say that they are currently considering leaving retirement.
• “Changes in personal finance” is a major consideration that would force a retiree to think about going back to work, with 42 of percent of retirees citing it as a factor.
• “Changes in healthcare coverage” is also important, at 29 percent.
• More than one in five retirees (22 percent) are thinking about how their lifespan could affect whether they go back to work.

 “These findings reflect the same kinds of sentiments we’ve been hearing from our customers,” says Longevity Alliance CEO Steve Zaleznick. “Retirees are very cautious right now, but not panicked. Their reluctance to rejoin the workforce only underscores the need for them to plan very carefully for the rest of their retirement.”

 So what do you do if you are planning for retirement now? Here are some suggestions:

• Make sure you understand what your income needs will be in retirement,
• Do a Social Security benefit calculation so you know what working a few more years means to your monthly income.
• Make sure you have a plan to cover the three big financial risks in retirement:  health care expense; long-term care costs, and outliving your money (longevity risk).

 “People understand that situations change and they are often open to going back to work for a variety of reasons,” he continued. “As economic conditions improve they should keep their eyes out for opportunities they might consider for either personal enjoyment and/or to respond to retirement income and health expense financing concerns.”