Has caregiving become the new retiree side hustle? Reports indicate that rising inflation, higher costs of living and the desire to keep busy and be a positive force in their communities are causing retirees to return to the workforce.
Article Key Points
- According to a pre-pandemic research study conducted by Home Instead, 53 percent of those soon to be retiring believed they were likely to return to work after retirement.
- The News with Shepard Smith on CNBC aired a segment on retirees re-entering the workforce.
- According to a March ’22 survey from ResumeBuilder.com, 1 out of every 5 retirees say they are likely to start working again this year and 69% listed growing costs of living as their reason.
At our local East Cleveland Home Instead Offices in Oakwood Village, Pepper Pike and Brecksville, we have been welcoming retirees back to the workforce with open arms for many years. In fact, many of our wonderful Care Professionals are age 50+. In the past, the main reason for a retiree returning to work as a Home Instead Care Pro was almost always that they were bored and just wanted to share their hearts with their community.
During the ‘Great Resignation’ millions left their jobs beginning in Spring 2021 during the height of the pandemic. Fast forward a year and much has changed, we are managing the pandemic and learning to live with it, the stock market is incredibly volatile and is significantly off its highs, interest rates are going up and the price of pretty much everything has risen due to historically high levels of inflation.
These macroeconomic trends are influencing many things in our lives, but what we are seeing recently in our business is a first! This major change has been the reason retirees state for their returning to work which now almost always includes the economic realities many now face. Retirees who were counting on stocks, low interest rates and low consumer prices are realizing those expectations may have been too optimistic. Our unretired Care Professionals have always desired to share their hearts and stay busy but they now have an economic reason to keep working as well, even if part-time.
Our whole team is proud to offer so many retirees a fulfilling, part-time, flexible job where they can truly make a difference by enhancing an older adult’s life while making a little extra spending money on the side and we will continue to welcome them with open arms.
If you or someone you know is interested in a flexible full or part time position as Caregiver please have them contact us at (440) 914-1400 or our Caregiver Jobs page.
Home Instead is proud to be a Top Work Place in the Cleveland Plain Dealer for 2 years in a row!
