How older workers can rebound from a job loss

Eve Tahmincioglu • Profile • E-mail

Is it harder for older workers to get back on their feet after they’ve been laid off?

Janine, who lost her job as an operations manager for a California mortgage firm in May 2007, seems to think so. After a decade with the company she was laid off and has been unable to find a new job.

“I am 56 years old, and I've never had to actually look for a job since 1980. Unfortunately, all the people that I would have networked with are also out of work, and many are my age,” says Janine, who did not want her full name used.

“We all feel like the rug was pulled out from under us and are finding it difficult to get back into the work force,” she adds.

Alas, Janine may be onto something.

The re-employment rate among older workers tends to be slightly lower than their younger counterparts, according to data from the U.S. Department of Labor. In 2006, the most recent statistics available on re-employment, 25- to 54-year-olds had the best chance of getting another job. Among this group, 75 percent had new gigs within a year, compared with 61 percent for workers between 55 and 64.

And mass layoffs among older workers as a percentage of the total working population are rising. According to the Labor Department, which defines mass layoffs as job reductions involving more than 50 employees, workers 55 and older accounted for 18.6 percent of the layoffs in 2007, compared with 13.4 percent in 2000.

Job-hunting for 50-somethings Here are some strategies from Sanjay Sathe, CEO of job-search Web site RiseSmart, for professionals who have been downsized or think the ax is about to fall: 1. Don't wait to be laid off to look for a new job.  It's always more difficult to find a job when you're out of work, and this is particularly true when you're over 55.  It's a perception issue: When you're employed, you're perceived as being "still in the game" — you're looking for new work because you want new challenges. That's exactly what you want to project as an older worker. Once you're out of work, you risk being perceived as "washed up." 2. If you have been laid off, do a little soul-searching before deciding your next move. When you're younger, getting laid off is often a cause for panic; you dive right in to your job search. For older workers, force of habit may cause you to do the same thing. But now's a good time to think about what you really want at this stage of your life. Would you be happier doing what you do on a part-time basis? Finding a new job takes longer when you're older, so it's worth making sure you're committed to the path ahead. 3. "Dumb down" your resume. It's unfortunate, but age discrimination in the workplace is a very real problem. As a result, you might be screened out for a position simply because your job history goes back 30 years. Beyond age discrimination, there is the issue of being viewed as overqualified. If a company says it wants 10 years of experience, it might not want to pay for 30 — and may screen you out without bothering to ask your salary requirements. In situations like these, you should use an alternative version of your resume that only goes back 10 or 15 years.  4. Put personal networking first. Most jobs for 55-plus executives come from personal referrals. In situations where you're seen as a individual rather than a demographic, you're going to have a much better chance. Build your personal network through online tools like LinkedIn and by becoming an active member of local professional groups. To make more time to network, spend less time searching for jobs online.  5. Target companies where the leadership skews older. Through your networking and research, you should seek out employers where the leadership team skews older; these companies are less likely to view you as a fossil simply because you qualify for AARP. If a company's execs are in their 30s and 40s, you might be out of luck.  If they're in their 50s and above, however, being over 55 can be a real advantage, as you are more likely to be viewed as a cultural fit. 6. Be patient. When you're over 55, finding a new management or executive job generally takes twice as long as it does for younger executives. Perseverance is the key to success — and this is more true the older you get.

So what’s working against older workers?

The 50-plus crowd faces a number of challenges, says Jennifer Kalita, a consultant who specializes in helping baby boomers and seniors with their careers.

“Companies can hire younger workers for less money than the 50-plus professional is used to,” she explains. “Employers fear the propensity for more health complications" for older employees, she adds. And they are concerned older workers may not be “as well-versed in tech-speak and processes as younger applicants.”

Another factor hurting older workers is that they have a specific set of skills they have honed over the years, so the range of jobs available to them is limited, notes Jeffrey A. Heath, president of The Landstone Group, an affiliate of recruiting firm MRI. The average 40-year-old, he says, will have had 14 jobs during his or her working life, compared with seven for the average 50-year-old.

No matter what an employer thinks about older workers, discriminating against them in the workplace or when they apply for a job is illegal. But cases of age discrimination — or at least perceptions of it — seem to be climbing. Last year age-discrimination charges filed with the Equal Employment Opportunity Commission jumped more than 13 percent to 19,000. (If you suspect you were turned down because of your age, you can file a claim with the EEOC at its Web site.)

But some companies see the value in recruiting more seasoned workers.

More mature job candidates have extensive work experience and industry knowledge, as well as “big-picture thinking and business management skills,” says Kalita, the consultant.

CVS Caremark Corp., the pharmacy company, is searching for this type of experience. The company heavily recruits workers who are over 50. In the early 1990s, 7 percent of CVS’ workers were 50 and older. Today that figure is 18 percent.

“It’s a business decision,” says Steve Wing, director of work force initiatives for the company. The U.S. population is growing older, so the company wants to make sure it will have the workers it needs in the future, he says. CVS executives also want a work force that mirrors the customer demographics in the towns they serve.

Wing says his company has seen an uptick in the number of older workers on the job market this year as more and more of them are getting downsized.

One problem he’s seen among the pool of older job seekers who have worked for one company for many years is that they have low self-esteem when they enter the job market. “When someone is downsized or a facility closes, there’s a fear factor. They’re thinking, ‘What am I going to do?’ And some of them don’t know how to work a computer or need help with their resume or interviewing skills.”

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