Job hunting after 50 brings extra challenge

Overcoming Job Search Challenges in Your 50s

Shannon Davidson faced a career setback when she was let go from her executive position at a marketing firm due to a merger last year. At the age of mid-50s, she found herself in a daunting position of re-entering the job market, determined not to let her age hinder her professional aspirations.

Davidson expressed, “When the reality of considering my age came in, I felt like many people do when they’re let go at this age. I’m at the top of my game and just got benched.”

Job hunting can be challenging for anyone, but for individuals in their 50s, it can be particularly arduous as they may be perceived as expensive or overqualified by potential employers. Ellie Berger, an associate professor at Nipissing University specializing in ageism, highlighted the biases older workers face in the job market.

Challenges Faced by Seasoned Workers

Berger’s research revealed that older workers take longer to secure employment and often encounter age-related biases during the hiring process. Employers sometimes overlook experienced candidates in favor of younger individuals, perpetuating ageism in the workforce.

Ageism can act as a significant barrier to employment, with many employers showing reluctance to consider candidates above a certain age threshold. The intersectionality of ageism with gender, disability, and race further complicates job search efforts for individuals in their 50s.

Financial Implications of Job Loss in Later Years

The financial impact of losing a job in one’s 50s or 60s can be substantial, especially during a critical period of retirement savings accumulation. Bonnie-Jeanne MacDonald from the National Institute on Ageing emphasized the challenges older workers face in rebuilding their retirement nest egg after a job loss.

Government retirement benefits kicking in later in life exacerbate the financial strain on individuals who lose employment in their 50s. With limited income sources and delayed access to pension benefits, retirees may face increased financial vulnerability.

Navigating the Job Market Successfully

Despite the hurdles, Laura Hambley, a career counselor, highlighted the importance of upskilling and showcasing adaptability to prospective employers. Emphasizing one’s experience, wisdom, and mentoring capabilities can be advantageous in securing employment opportunities.

Many individuals in their 50s opt for contract, entrepreneurial, or consultancy roles to leverage their skills and expertise in the job market. Shannon Davidson, for instance, transitioned into entrepreneurship by starting her marketing consultancy and mentoring young professionals.

Davidson encouraged individuals in their 50s not to be defined by age or perceived overqualification, urging employers to tap into their wealth of experience. Embracing career pivots and leveraging their skills can empower seasoned workers to thrive in the ever-evolving job market.

This article, inspired by The Canadian Press, offers insights into navigating job search challenges in your 50s and beyond.