Worcester Business Journal

wbjournal.com | October 21, 2024 | Worcester Business Journal 23 be a place where they can find companionship. is issue of loneliness is a devastating issue for older people and finding a job can be a solution." Ageism is one major obstacle older individ- uals seeking to re-enter the workforce face. Metcalf said because of insurances and liability, bigger corpora- tions are more risk adverse to hiring old- er individuals, even if they are capable of doing the job. In Metcalf 's experience, older people looking for work are more welcomed by small businesses willing to give them a chance. Labor shortages and declining birth rates are changing the role older workers play in the workforce, said Metcalf. Aer the coronavirus pandemic, all industries are still experiencing crippling worker shortages. Hiring older workers who are already skilled and have work experi- ence could be one solution to mitigate the problem. "With all these external factors, there might be lower numbers of potential good employees, so turning to older employees to sub in until the workforce is stabilized by the younger generation could work," Metcalf said. Metcalf has seen an increasing number of companies contact retired employees and ask them to come back to work because they are having trouble finding other workers with the expertise and training they are looking for. "Older employees, especially retired employees, are being called back because they know the business. ey've been there. e company trusts them, they trust the company, and they have a sense of loyalty that is engrained in the com- pany that they are having trouble finding in other workers," Metcalf said. Whether for financial survival or to find a sense of purpose, one in three re- tired Americans are going back to work, according to data from online tempo- rary worker firm Indeed Flex. Regard- less of the reasons, older professionals re-entering the workforce are changing the business landscape. "Senior workers almost have a sense of ownership in a business, a sense of pride, and they are here to work," Met- calf said. Call 508-538-1031 and view senior living from a whole new perspective. Voted Best Senior Living Community of Central Mass seven years running A proud tradition of service since 1911 Overlook-Mass.org 88 Masonic Home Road | Charlton, MA 01507 Sponsored by the Masonic Health System of Massachusetts Independence When You Want It. Care When You Need It. Making the most out of every moment is easier at The Overlook. Why? There are endless opportunities to grow and explore what makes you happy. Our community offers active independent living plus a full continuum of care if you ever need support, including enhanced living, memory care, hospice care, palliative care, skilled nursing, short-term rehabilitation, respite care, and home health services. THERE'S NO BETTER TIME TO LIVE YOUR BEST NOW. Jim Metcalf W Retirement, by the numbers 70.6 million People who received benefits from programs administered by the Social Security Administration in 2022 5.6 million People newly awarded Social Security benefits in 2022 55% Adult beneficiaries of Social Security in 2022 who were women 55.6 Average age of disabled-worker beneficiaries in 2022 85% Supplemental Security Income recipients who received payments because of disability or blindness in 2022 Source: "Fast Facts & Figures About Social Security, 2023," Social Security Office of Retirement and Disability Policy

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