Working in Retirement
Intel offers retiring workers opportunity for encore careers
Although many adults are interested in working into retirement as a way to stay active, some may rather embark on a so-called encore career other than the high-pressure position they currently occupy. In an effort to help them do so, Intel has paired with think tank Civic Ventures to pair baby boomers with non-profit organizations for fellowships of six months to a year, USA Today reports.
Although there is a high demand for such programs, its organizers say it is the first of its kind. Being matched up with organizations will not only allow adults to stay active but also will give them an opportunity to give back to the community. Additionally, they will receive a $25,000 stipend and health insurance coverage.
Recent findings from a survey conducted by Civic Ventures and MetLife found that this type of program is exactly what many people between the ages of 44 and 70 are looking for. Specifically, about 9 percent of workers in that age group are in non-profit jobs and 31 percent want to start an encore career, the publication reports. Intel made the program available to its retirement-eligible workers and analysts say it's a great way for companies to to adapt to the aging workforce.
"Many companies bring retirees back to solve specific technical issues, especially a tech company like Intel," human resources consultant John Bremen told the publication. "They're doing something to help society, and Intel's brand is all about making positive contributions."
Programs like the one offered by Intel may also be a response to a growing call from boomers for a change in how they are used in volunteer positions. A 2007 report from the Corporation for National and Community Service found that most members of the generation wanted higher-level positions - and non-profits seem to have listened.
"The boomers offer this incredibly powerful window of opportunity for non-profits to get it right in time to really harness one of the biggest resource boons the sector has seen in many decades," said chief executive of the organization David Eisner.
The first of the 78 million people born between 1946 and 1964 began reaching retirement age this year at a rate of about 10,000 each day. It would behoove other organizations to offer their workers with opportunities similar to those of Intel.
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