Boredom with Retirement and a Need for Challenge Top List of Reasons for Rise in Retirement Careers
Although the demand for talent continues to escalate as millions of Baby Boomers reach retirement age, a growing number of these professionals are "re-careering," or changing professions mid to late in their careers, according to more than 270 international recruiters who completed the 11th edition of the quarterly Executive Recruiter Index, released today by Korn/Ferry International, a premier global provider of talent management solutions.
Nearly six in 10 recruiters (58 percent) reported seeing a rise in the number of executives who are changing professions when faced with the prospect of impending retirement. In comparing the number of job opportunities available today to re-careering executives versus a decade ago, a vast majority of recruiters (84 percent) indicated there are at least the same number, if not more, of such opportunities.
Leading reasons for executives to re-career, according to recruiters, are boredom with retirement (22 percent), a sense of productivity (21 percent) and intellectual challenge (20 percent). Other motivators include insufficient retirement savings (13 percent) and the need for personal interaction with others (13 percent).
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