A study by the Boston College Center on Aging and Work suggests that 50 percent to 60 percent of retirees will be competing for "bridge jobs," part-time or short-duration work for five years or more following retirement from a primary career.
The study notes that the need for continuing income arises from "fundamental changes in Social Security, private pensions, health and longevity that means many Americans will be unable to finance 20 or more years of leisure later in life without a significant reduction in living standards."
Retail employers have begun to welcome bridge job workers, who are drawn by the 15 percent to 20 percent store discounts often offered to employees, according to the study. Retailers are eager to accommodate older workers' part-time schedules and part-time workers frequently turn into reliable full-time employees.
A survey by Washington-based Matthew Greenwald and Associates for the Center of Retirement Research at Boston College reports that 400 private-sector for-profit and nonprofit organizations found employers view older workers as quite productive. However, the survey notes that positive evaluations of the productivity of older workers do not necessarily translate into actual employment opportunities.
Source: Human Resource Executive, December 2006
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