85 Percent of Baby Boomers Plan to Work Into Their 70s (and Even 80s)

A study from Deloitte Insights analyzed the U.S. workforce's oldest employees, their needs and motivators, and how companies can create jobs that utilize the valuable set of skills older workers can offer, reports Ladders . "The current volume and rapid increase of people remaining well past traditional retirement age is unprecedented," Deloitte said. The U.S. Senate's 2017 Special Committee on Aging report determined 85 percent of the baby boomer population plans to work until their 70s and even 80s. Deloitte found many older workers are creating second careers, or working bridge jobs, out of a desire to work and stay connected to the wider world, rather than simply to earn money and meet financial needs. Deloitte also discredited the notion that boomers are impeding younger employees, finding instead that they tend to be more engaged and are thus more valuable than millennials in that category. Their long work experience means their work product is generally better than their younger peers', and they also possess better social skills and good "organizational citizenship." Deloitte recommended employers have mature workers serve as mentors for younger employees, develop phased retirement plans so workers can retire flexibly and intentionally, and organize strategies to re-skill older workers.