gig economy Archives – Unretirement Project

2 Reasons to Maintain Social Media Accounts As You Age

October 31, 2018 by Sharlyn Lauby Leave a Comment

It might be tempting as we get older to say, “I don’t need to be on social media anymore.” Well, I’ve recently heard a couple of comments that made me realize being on social media isn’t something we can simply abandon as we age.

Social media helps us find opportunities. If taking on a side hustle is part of your unretirement, then staying on social media should absolutely be a part of your strategy. I ran across a press release from Challenger Gray & Christmas recently discussing what I would call the double-edged sword when it comes to social media and aging.

Organizations have been told for years to use social media for marketing and recruiting. It’s cost-effective and can allow organizations to distribute their message to a wide audience. It totally makes sense.

BUT keep in mind the audience is only the people who are on social media. So, if only young people are on social media…well, you get it. Then only young people get the message. If you’re thinking to yourself, “I’ve survived the past five years without being on Twitter so no need to join now.” Well, maybe it’s time to rethink that. Or if you’re saying, “I only need LinkedIn if I’m going to work in an office environment. Once I retire, I’ll delete the account.” Again, maybe it’s worth keeping. And more importantly…using.

Social media helps to establish our identity. I was listening to an AARP webinar recently that talked about personal branding and they made an interesting comment – having a social media presence is important because it proves you’re a real person. I have to admit, this was both obvious and insightful at the same time.

I don’t know about you but there are many times when a company tries to call me or connect with me that the first thing I do is look them up on the internet. Are they “real”? Or is this just spam? I’m sure people do it with me as well.

Even if you don’t plan to have a side gig in unretirement, it could make sense to keep a social media presence. For example, Keith and I recently met some couples in our new community. We had a nice time and talked about staying in touch. Of course, they’re already retired so they don’t have business cards. I thought, we can just connect on Facebook. Well, they don’t check their Facebook account. They have an account. But it just sits there. So not only are they not using it to connect with people, but they aren’t making sure it’s not a target for hackers.

I understand that there are days we all want to close our social media accounts and shut out the world. But there’s also some really fun stuff on social media. Like this article about gay penguins rescuing a neglected chick at a Denmark zoo. And a lot of really nice people. Bottom-line: social media can bring value to your unretirement and retirement. Start making the investment to learn and use it.

Image captured by Sharlyn Lauby while exploring the streets of Las Vegas, NV

How To Build Your Elevator Pitch

October 10, 2018 by Sharlyn Lauby Leave a Comment

As working professionals, we’re aware of what an elevator pitch is. It’s those couple of sentences that we say to someone we’ve just met that answers the question, “Who are you, what do you do, and why should I pay attention to you?” No one would really ask this question, of course, and I didn’t write it this way to be evil or mean. But let’s be honest – this is the intention.

It’s called an elevator pitch because it’s supposed to be brief. Something you could easily say between floors during an elevator ride. Elevator pitches still matter as we’re approaching unretirement. Whether you plan to transition to part-time or try freelancing, having an elevator pitch is a perfect way to start a conversation or capture someone’s attention.

During AARP’s webcast on “Sharpening Your Networking and Interviewing Skills Online”, they talked about elevator pitches still being relevant, especially in job search. But here’s an example of how to use an elevator pitch when you’re not looking for a job:

Tell people who you are. As in your name, title, etc. I am amazed at times when I’m introduced to someone that they say their name but nothing else. For example, “Hi! I’m Joe.” doesn’t tell people who you are. But saying “Hi! I’m Joe, owner of MoJo Bakery” does.

Share what makes you special. Add a little something extra to your introduction like, “Hi! I’m Joe, owner of MoJo Bakery. We have the best brownies in the city of Denver.” You could also tweak this to reflect an accomplishment like “Hi! I’m Joe, owner of MoJo Bakery. We just won Denver’s Best Brownie award.”

Explain what you’re looking for and what you can offer. Sometimes people will upfront this part as in “We’re looking for tasters to try our latest brownie.” Or “I’m looking for a company to put brownies in their employee breakrooms.” Another approach is to introduce yourself and wait for a question like “Nice to meet you Joe. What brings you here?”

Elevator pitches have value in building relationships. And, in our unretirement, relationships are still important. They help us get jobs, volunteer board positions, and frankly, just build friendships.

Many of the skills we’ve learned over the years – like elevator pitches – are going to help us in our unretirement. We just have to refine the message to align with our unretirement goals.

Image captured by Sharlyn Lauby while exploring the Queen Mary in Long Beach, CA

Networking: It’s Still Important in Unretirement

September 19, 2018 by Sharlyn Lauby Leave a Comment

AARP recently hosted a webcast on how to “Sharpen Your Networking and Interview Skills”. If you missed it, it was an interesting session and you can still catch it via the archive. Of course, one of the big topics during the webcast was how to network. Frankly, it never ceases to amaze me the number of people who only network when they need to. Which is usually when they’re looking for a job.

Add to that, the number of people who swear that they’ve learned their lessons about always needing to network. Then once they land a new job, what do they do? Yep, they stop networking. They completely forget that conversation where they swore they’ve learned their lesson and realize they need to continuously network.

One of the best books I’ve read on the subject of networking is Keith Ferrazzi’s “Never Eat Alone”. I do have to admit it was kinda ironic that I read the book while traveling (alone) from a conference. But we won’t go there today.

In addition to the takeaways in Ferrazzi’s book, I’ve learned a few things about networking over the years. But, it might be easier to explain what networking is by saying what it’s not:

Something to cross off your ‘to-do’ list (as in “I networked today.”)
Only connecting with people who you feel can do something for you
Calling someone just to ask for favors
Giving your resume to everyone you meet
Only talking with your posse and not meeting anyone new
Handing out your business card to everyone you meet

The purpose of networking is building relationships. Let me say that again. Networking is about building relationships. And, how do you build solid relationships? I think of listening, smiling, sharing, helping, and connecting. Let me add that building relationships is a two-way street. Good networking has a balance to it. It’s not about one person always making the call. Or one person always asking a question. It’s about equal giving and sharing.

One last thing about networking. It’s not about always saying yes to every request that’s made of you. That’s a sure-fire way to starting feeling like you’re being taken advantage of. Learning how to say “no” is an equally important business skill.

Networking is still a critical skill in unretirement. As we get older, we can’t simply say, “I don’t need to network anymore.” We might want to network to find a part-time job. Or a consulting gig. Maybe just to get some information about Social Security or Medicare. We could also use networking to get a sought-after volunteer role, like being an usher at the local community theater (i.e. think about all those free shows!).

Networking isn’t just about getting jobs. So, we need to keep refining our skills and cultivating our network. Because that’s how we help others and get the things that we want.

Image captured by Sharlyn Lauby after speaking at the Flora Icelandic HR Management Conference in Reykjavik, Iceland

Choosing the Right Unretirement Gig

September 4, 2018 by Sharlyn Lauby 2 Comments

One of the reasons that we started this blog was to share our experience with blogging. Little did we know when we started HR Bartender that it would become something that we love to do while making a little money.

And my guess is we’re not alone when it comes to retirees or soon-to-be retirees wanting to find a little something they can do and make a little side income. But I will admit, blogging might not be for everyone. So, how do you find what makes sense for you?

Well, one of my favorite career sites is The Muse. They recently had an article about “How to Choose the Right Side Hustle for You”. Of course, the article is focused on anyone, but I thought this could be perfect for individuals thinking about their unretirement.

Developing a side hustle or side gig (whatever you want to call it), takes time. Just because you’re doing to do it on the side doesn’t mean you shouldn’t put any thought into it. Having a side hustle still involves business plans, licenses, taxes, etc. Here are three things to consider when choosing the right side work:

What do you want to do? Not simply “What am I doing now?” Or “What am I good at?” You might choose to do something completely different in unretirement. Maybe follow a dream you’ve had for years. But it’s worth taking the time to think about where you want to focus your energy because that might give you some indication of skills you want to polish up.

What are you willing to invest? Starting a side hustle might take some money. Some side hustles take very little. When I began consulting, all I needed was a desk and a computer. Both of which I had at home. Other side gigs might take saving and purchasing equipment over time. If you begin the process while you’re working, then you can budget for the expense while you still have income from another source.

How much time do you want to spend? The main reason I’m bringing this up is because how much time you want to spend doing your side gig could tell you if a marketing investment will be necessary. If you don’t mind starting slow and working your way to greater income, then little or no marketing might be okay. If you want to have a certain amount of income right away in your unretirement, then it might take a more robust marketing plan.

And let me add, these questions also allow you to decide if you like the side hustle you’ve chosen. That way, if you decide that the side hustle you thought was going to be so fabulous…well, isn’t, you have time and resources to change it.

It’s perfectly logical to think about having a side gig during unretirement. But the time to consider developing one is when you’re still working. That way the pieces are in place when you’re ready.

Image captured by Sharlyn Lauby while exploring the streets of Denver, CO

More Individuals Are Choosing Freelancing in Semi-Retirement

May 23, 2018 by Sharlyn Lauby 8 Comments

I ran across an article recently on LinkedIn talking about the latest statistics for the gig economy. It’s worth checking out. My takeaway from the article is that an increasing number of Baby Boomers in senior level roles are opting into freelancing or consulting as a transition to their semi-retirement.

Think about it. Instead of going from a regular full-time job to retirement, individuals are making several smaller moves toward retirement. Full-time job TO full-time freelancer TO semi-retirement THEN unretirement AND retirement.

The good news is that I believe organizations are very open to this type of new career transition plan. Granted, it’s very different from what they’ve done in the past. And, it will probably involve some sort of trial and error in terms of getting the conversations right with employees and coordination in making it happen. Nonetheless, I think with the challenges that companies are having in finding and keeping talent, it makes a lot of sense.

But for individuals looking at the next decade of their careers, it means they need to think differently too. It’s a big enough decision going from full-time to retired. Now, we’re talking about several small moves, all of which need some level of planning.

We should start thinking about career transitions earlier. You can’t just flip a switch and become a freelancer or consultant. It’s true that you would have the knowledge and skills to do the work. And it’s pretty easy to set up a home office. The part of freelancing and consulting that takes time is building a network. So, if consulting is in your future, you must start building the marketing plan.

Lifelong learning has never been more important. When you become a freelancer or consultant, you are in charge of everything. If you’re used to calling the technology department every time your computer goes on the fritz or having someone proofread all of your communications, those things go away when you leave Corporate America. Sure – you can hire someone to help you but that can get pricey.

It will be necessary to financially plan for these transitions as well. Freelancing can be terrific in terms of having time to travel, pursuing a hobby, or spending time with family. On the other hand, freelancing means you’re responsible for all of your income, including benefits like healthcare and vacation. So, moving to a lifestyle where you have more control also means you’ll want to make sure you can afford it.

One of the ways that individuals can transition toward their retirement lifestyle is by spending some time as a freelancer or consultant. Organizations seem to be very willing to consider these arrangements. But it needs to work for everyone. Companies want individuals with knowledge and skills. Individuals want flexibility and fair compensation.

To make this successful, both companies and individuals will need to start planning earlier and communicating more often.

Think About Retirement Lifestyle and Programs Separately

May 2, 2018 by Sharlyn Lauby 2 Comments

Just in case you missed it, the World Health Organization (WHO) has declared 65 years of age to still be “young”. Frankly, it’s not a surprise. People are living longer.

But it also reminded me that we have to draw a distinction between retirement age for government or company retirement programs and our age for living a retirement lifestyle. As an HR professional, I understand the need for retirement plans to have ages in them. Organizations need that for compliance, consistency, etc. But just because a person qualifies for a retirement benefit at age 65 doesn’t mean they can no longer contribute in the workplace.

This is one of the reasons that the concept of unretirement is so important. Yes, we need to work toward have the security to support ourselves and we need to be conscious of how retirement programs work. But we also need to realize that hitting the age of eligibility for retirement programs should be viewed as a benchmark, not a finality.

Unless of course, you want it to be some sort of “I’m XX years old and now I’m going to retire.” And there’s nothing wrong with that. In fact, you can decide that you want to start living the retirement lifestyle when you’re 55 or 50 or even younger. It does mean that you might have to wait a few years before you reach the eligibility age for retirement programs, but that can be okay if you plan and prepare for it.

If you’re going to think of retirement plans and lifestyle as two separate things, here are a few things to keep in mind.

It’s never too soon to start thinking about what you want your retirement lifestyle to look like. Sure, this makes sense in terms of your finances, and those things you want to do (like travel, hobbies, etc.) Buthave you given any thought to an encore career and the skills you might need to start working on now?

Share your plans with family and friends. You don’t need to do this all at the same time but, at some point, you have to tell your family what you’d like to do (and when). They need to buy into this. Especially if they thought your retirement meant you were going to spend more time with them.

Think about how to introduce the subject with your employer. Another conversation you don’t have to have right away, but it does need to happen, is talking with your boss. Your company might be thinking you plan on hanging around longer (or leaving sooner). Open, honest dialogue is necessary for a smooth transition.

As I start to talk with more business professionals about this blog, I’m a little surprised at both the Millennials who are already thinking about their retirement future AND the Boomers who aren’t. While you don’t have to take action right away, it does take some time to develop an opinion on these matters. We all have to develop our own unretirement plan because nobody can do it for us.

Image captured by Sharlyn Lauby somewhere on 7-Mile Bridge heading to Key West, FL

Phased Retirement: Be Prepared to Initiate the Conversation

April 25, 2018 by Sharlyn Lauby 2 Comments

I ran across an interesting article recently in Workforce Magazine titled, “Phased Retirement Largely Ignored Despite Flood of Retirees”. The title says it all. Organizations don’t have structured phased retirement programs in place. Frankly, a lot of organizations don’t have structured retirement programs.

But I don’t believe this trend of not having phased retirement programs is going to continue. And I don’t feel that employees have to wait around for such retirement programs to get created. Some of the work may actually happen organically.

Organizations continue to struggle finding qualified talent. The job market has shifted in the candidate’s favor. For individuals looking to stay in the workforce longer, those opportunities exist. According to an article from the Society for Human Resource Management (SHRM), the number of employed older Americans has increased by 35 percent over the past decade. This is due in part to increased longevity, which means that people need to finance a longer retirement.

So individuals and organizations have the opportunity to create a win-win where work, phased retirement, and retirement are concerned. Older employees can stay in the workforce longer to build up additional resources for their retirement.

Then, organizations and employees can work together to create an interim step (aka phased retirement). But here’s where I think the challenge lies. I’m not sure phased retirement programs have a lot of history or established best practices. As we learned from my interview with Joyce Maroney from The Workforce Institute at Kronos, phased retirement isn’t simply “going part-time”. It involves communication, planning, and training.

Both employees and organizations need to be willing to initiate the conversation about phased retirement. They need to be open to the notion of doing a trial run or beta arrangement. And then, they have to debrief their experiences to make the next time better.

Yes, phased retirement is exciting and fun. It’s also a business decision. And as employees, we should be prepared to wear both hats. There must be a balance between “I’m looking forward to working less and relaxing more.” AND “I need to have a role that brings value, even if it is part-time.” I absolutely believe it can be done. And we have the skills to make it happen. We just have to be prepared to start the unretirement talk.

Speaking of skills, if you happen to work for one of those companies that might be looking to create a few phased retirement test cases, please note a couple of paragraphs earlier when I talked about what individuals and organizations need to do: initiate conversations, openness to a trial, and debrief experience. What I’m getting at is that being a part of a phased retirement program involves good communication and feedback. Don’t expect the other person or someone else to do all the talking.

Phased retirement programs benefit both employees and employers. IMHO, organizations would be well-served to implement a few test cases before adopting a formal phased retirement program. But that means managers and employees need to be willing to communicate their plans and goals, share positive and negative feedback, and remain committed to doing what’s right for everyone involved.

Image captured by Sharlyn Lauby somewhere off the coast of Miami, FL