Is CAREGiving the new retiree side hustle? Reported reasons for workforce return now include rising inflation driving higher costs of living and the desire to be a positive force in their communities
Blog Key Takeaways
- 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 Powell, Upper Arlington, Granville and Zanesville Home Instead offices we have been welcoming retirees back to the workforce with open arms for 18+ years. In fact, over 60% of our CAREGivers are 50+. In the past, the main reason for a retiree returning to work as a Home Instead CAREGiver 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 macro-economic trends are influencing many things in our lives, but what I am seeing recently in our business is a first over nearly two decades. This major change has been the reason retiree’s 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 CAREGivers have always had wanted to share their hearts and stay busy but now have an economic reason to keeping 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 (740) 363-5720 the Franklin County, Delaware County or the Licking/Muskingum Counties jobs page