Baby Boomers Looking for a Better Work-Life Balance

In February, 2009 Bobbie Todd joined the ranks of over 611,000 people laid off due to a weakened economy. Like many of the recent stories we’ve heard, Bobbie is an experienced professional in her early 60s that must continue to work due to the decline in the value of her retirement assets.

After working for a Dallas based Telecommunications firm for over 10 years, Bobbie and members of her team were laid off due to budgetary reasons. With her extensive experience as a Project Coordinator and Executive Assistant, she was confident that her experience, skills, and knowledge would soon land her a job. For the next few months Bobbie quickly realized that her expertise didn’t provide any more of an opportunity for employment than the thousands lined up behind her. After dozens of interviews with either no follow-up or job offers that demanded a skill set she did not posses (Bobbie was approached to be a professional fisherman in Alaska even though her resume clearly highlighted a different line of work), she started to feel the devastating impact the economy has had on the job market.

Throughout the decade she dedicated to the Telecom industry Bobbie built a strong network of individuals that valued each other’s skills and work ethic. Bobbie states that, “the key to staying connected to the workforce for Baby Boomers isn’t simply job searching on the internet but building a core network of experienced individuals.”

Building a strong network appeared to be beneficial when after a few months of unemployment Bobbie was considered for rehire at the Telecommunications firm due to the emergence of a new group in need of someone with Bobbie’s invaluable knowledge capital. After the firm was forced to make cuts, they quickly realized the talent lost and the areas within the corporation that were now being negatively affected. Even though her experience was extremely valued and needed, the firm was unable to rehire Bobbie due to the lack of available funds.

The biggest problem facing companies today is managing the financial restraints that can arise without sacrificing key talent. Even through tough times alternative solutions should be considered as opposed to enforcing layoffs. In Bobbie’s case her company didn’t see any other solution but to reduce headcount, even though new tasks and projects would emerge that demanded someone with Bobbie’s skills. WorldLink, an HR solutions firm headquartered in Frisco, TX, was able to bring Bobbie back to work through their newly formed entity called The Green Group. While working in close partnership with her former employer, The Green Group evaluated the extent of skills and amount of time needed to support the new group, which resulted in Bobbie’s return. The Green Group put her back to work, allowing her to continue utilizing her expertise while allowing the telecom firm to maintain cost reduction goals, while retaining her valuable skills and knowledge.

Many Baby Boomers in the workforce are faced with the harsh reality that retirement could be seriously delayed or put off altogether. With rapid declines in personal assets there are little options offered to help cover medical needs or to help prevent early withdraw from Social Security. American’s who have yet to reach the eligible age for Medicare along with new financial woes simply don’t have a choice but to continue working.

Bobbie wanted to continue working to help offset some of the retirement losses she had incurred, but she didn’t have the desire to work full time. She has yet to reach the qualifying age for Medicare so she needed to keep her health benefits as well. The Green Group was able to work with her former employer to determine the exact amount of time her expertise was needed and now she is back at work and participating in the newly offered health care benefits program. Since her return to work Bobbie maintains a flexible schedule and spends 20 hours a week at the client site. She also has the ability to set her own schedule according to her team’s needs. Her tasks are clear and she is able to extend her knowledge into other areas of the company when needed.

Bobbie is reaping many benefits from her new work arrangement.

“The most rewarding aspect of returning to work is I will not have to apply for early social security benefits so I can receive the maximum amount when I reach retirement age. I also have more time with my family, additional income, yet I’m still using my knowledge while doing what I love. When I complete my duties I’m able to go home and leave work behind.”

Bobbie’s return to work has benefited the Telecom firm by reclaiming her skills and knowledge and eliminating the time and expense it would take to hire and train additional personnel. Her return allowed for immediate utilization of her skills and knowledge, therefore freeing up the firm to utilize their time and financial resources in other ways. All too often, as evidenced by today’s record unemployment statistics, employers resort to cutting headcount, training, and travel. The effects of these actions are often felt when economic conditions begin to improve and hiring resumes. Retaining or reemploying staff like Bobbie Todd is a step in the right direction to not only reclaim talent lost, but keep company costs down in a time when companies are struggling to weather the effects of the economy and stay ahead of the competition.

“By continuing to work on a reduced schedule, I am given more time for me. I no longer have the financial or healthcare concerns and I have a strong sense of fulfillment along with the right amount of work-life balance.” - Bobbie Todd

by Sarah Sellers, Product Marketing Analyst at WorldLink, Inc