The term “retiree” is typically synonymous with an individual who has permanently stopped working. It includes those many older adults who have “timed out”, essentially forced into retirement due to age limitations. Yet a 2017 report by the National Bureau of Economic Research concludes that 60% of retirees have a desire to return to work, especially if their schedule is flexible.
Today’s WSJ published an article that looked like a “Help Wanted Ad” for retirees, looking for positions in accounting. PKF O’Connor Davies LLP, an accounting firm in the top 100, is actively recruiting accountants that have timed out at other firms based on their belief that these retirees still have tremendous value due to years of developing contacts and experience. An example of a PKF hire was a 77-year-old who created a whole new market for the firm, specializing in international tax issues.
Is the light bulb finally going on in the workplace? Are companies starting to recognize that there is a significant untapped market of individuals whose skills are in demand and who are willing to be hired under flexible terms? They are called retirees. Many older adults wish to continue working, perhaps out of financial need and or to remain productive and to continue to lead active, meaningful lives. Congratulations to PKF for their astute decision to equate the term “retiree” with an opportunity to add value to their firm.