This was published 6 years ago
'Pack your own parachute': Job advice for over-50s made redundant
When Peter James was made redundant from his engineering job in his 50s he felt angry and disappointed - but not surprised.
Despite devoting himself to the corporate gig and enjoying its steady benefits, Mr James had decided long before that dark day that he was going to "pack his own parachute" and be able to survive on his own.
Now working as a "people and talent developer" with Career Life Transitions in Perth, Mr James is seeing more and more people in their 50s seeking a new career after being spat out by the fraught WA economy.
Over 50s who find themselves out of a job can struggle to find a similar position.Credit: Gabriele Charotte
"There's certainly a recovery happening in WA since the boom, but it is a strange time, especially for the over 50s who instead of being retained are being let go with the hope of being picked up again when things improve," he said.
"But rather than see this as an ending, it's better to see it as an opportunity. When I started work I got the job I could get, not the one I wanted. When I was made redundent I could go after what I wanted."
Seasonally adjusted, unemployment in WA moved up to 6 per cent in March from 5.8 per cent in February - with Treasurer Ben Wyatt pointing out full-time employment had increased by 8000 and there were "some encouraging signs for an economy still in transition".
Take a deep breath
Older workers who have found themselves put out to pasture come to Mr James for advice about what to do next - and the first thing he tells them is to relax.
"Everyone has different circumstances, and if there's money pressure then it can be very scary. But most over-50s are, if they take a step back, actually in a good position.
'Usually they get a pretty good payout. The mortage is paid off or mostly paid off, the kids are out of home and I often find that the drive to be top of the game has been and gone, so it's not as important to go back to a job at the same level or doing the same thing."
With a calm, realistic frame of mind, Mr James said over 50s have an opportunity to reinvent themselves.
Peter James advises people to "pack your own parachute."Credit: Peter James
“The world is your oyster and it’s probably the first time since you were 20 years old you can take a step back and look at your options,” he said.
“When you lose your job it’s a kick to your ego and many want to jump back on the horse with a similar position on a similar wage, but if you’re 55 years old you need to look at whether that’s really the best move.
“Some people don’t even like their job any more, but they’ve been with the business for so long that it has become their life and they don’t know what to do outside of their place of work.
“It might be about exploring their hobbies and looking if that can be turned into a part-time business or finding a role that improves their work life balance and eases them into retirement.”
Mr James has four tips for over 50s looking for a new job:
- It is all about attitude; get your head straight; yes, ageism is out there but if you stay positive it can be irrelevant in your search for a job. Approach everything with an excited ‘can-do’ attitude, it goes a long way.
- Be flexible; take a considered look at your options, you don’t need to stay at or move to a higher position. You may not even need to stay in the same industry. People over 50 have enormous life experience and therefore, a large range of transferable skills that may be sought after in other areas.
- Research other industries and professions; there are some out there that are more likely to hire older workers, so investigate the profile of the company. Look at smaller companies that will appreciate your life experience.
- Use your network; and if you don’t have one, get one! Word of mouth is the strongest advocate for you, regardless of your age. If you don’t know how to use LinkedIn or social media, then get a crash course and get on board. In the very least get on the phone and build your network, talk to colleagues and hiring managers.