It’s true that COVID-19 has fundamentally changed our lives and workplaces in the past 2½ years and the percentage of older people remaining at a job has grown. Population aging is one of the driving factors of the aging of the U.S. workforce.
According to the U.S. Bureau of Labor Statistics, employment of workers aged 65 or older has grown by 117% in the last 20 years, while employment of individuals 75 years or older has also increased by 117%.
Rhode Island is no different. The Longitudinal Employer-Household Dynamics data provided by the Census Bureau indicates several specific growth areas in Rhode Island in the 55-and-over age group.
In 2000, workers employed in the private sector in the age group over 55 represented 13.2% of the Rhode Island population. By 2020, this group represented 25.9% of the population – a jump of 12.7 percentage points, according to the Census Bureau.
Looking further into the data, 17.1% of the manufacturing workforce in Rhode Island was over 55 at the start of this century. Twenty years later, that number doubled to 34.7%. And in the financial and insurance sectors, workers over 55 made up 11% of the workforce in 2000. It increased to 25.3% over the next 20 years.
Similar jumps were reported in other sectors. In 2000, people 55 and older made up 12.8% of the health care and social assistance workforce and 16.2% of the education workforce. Over the next two decades, those numbers increased to 26.7% and 29.1%, respectively.
The types of jobs that had higher numbers of older people included teachers, college instructors, administrative assistants, nurses, managers, management consultants, financial services providers and writers. Since many of these jobs required the adaption to high-tech devices over the years, I think this destroys the myth that older adults struggle to learn how to use new technologies.
I also think that there is an assumption that we will all retire at a certain age. But this is changing. It has been shown that the longer our brains and bodies stay active, the more productive and vital we will be.
I recently talked to a colleague who told me that a family member in his 80s stopped working suddenly without a transition into retirement. Within a year, his energy, abilities and attitude had dramatically declined.
From my work as an interviewer, talking with experts in the field of aging and longevity and my own experience as an early baby boomer, here are five recommendations to maintain productivity and creativity in business past our retirement years.
Put self-care in the forefront. In order to make good decisions, we need to feel good.
Our health is our “bank account,” and we need to safeguard it even more in our older adult years with exercise, good nutrition, enough sleep and a great support system.
Time is your most precious choice. We have less time chronologically as we get older, but we often have greater choices about how we spend our time.
Honor and use your wisdom and work experience. We have had years to learn from our mistakes and gain skills and knowledge over time. Don’t underestimate that.
Seek creative work platforms. COVID-19 has expanded venues for workers and older workers. Remote work is no longer a novelty. It has often become the norm. You can reduce travel expenses by working part time, flex time or doing remote work and contract work.
Collaborate with those of different ages. Different generations have so much to offer each other. I work with communications interns from the University of Rhode Island, and I learn so much from them, especially in the world of social media. They learn from my business experience. It’s a rich collaboration.
Patricia Raskin is an award-winning radio producer and owner of Raskin Resources Productions. She hosts and co-produced the 13-part Positive Aging Podcast series co-produced by Rhode Island PBS. She was a recipient of a Providence Business News Leaders & Achievers Award in 2020.
