Wednesday, January 13, 2010

Temporary Employment Set to Increase Dramatically as We Come Out of the Recession, Says Jobs Expert Art Koff, of RetiredBrains.com

The country’s economic recovery could be particularly beneficial for Boomers and seniors looking for jobs after retirement, as estimates suggest that contingent labor could increase its penetration from the current 13 percent of employees to 39 percent in 2010.
“Don't assume because you are an executive, a professional or in management that temporary jobs or project assignments are not for you.”
“This is good news for boomers, seniors and retirees, as this demographic is often more likely to be hired on a part-time, temporary or project assignment basis,” said Art Koff, founder of www.RetiredBrains.com, a job and information service for Americans 50 and older.

“Many older workers do not require the company benefits of full-time employment,” said Koff. “They are often in a better position than their younger counterparts who must receive company benefits for themselves and their families.”

Depending on the hours worked, the length of the assignment and other factors, employers can save on contingency labor by avoiding expensive company benefits. It is also a great deal easier to off-board contingency workers than full-time employees. And employers with a departmental or companywide hiring freeze can hire temporary employees from a different budget, thereby avoiding hiring freeze limitations altogether.

The number of Americans working part-time or temporary jobs for economic reasons (mostly because they are unable to find full-time jobs) has doubled since the recession began, to 9.2 million workers. It’s a trend that sees America catching up Europe, where employers use a much higher percentage of temporary and part-time workers than their U.S. counterparts.

According to a Workforce Management article by Irwin Speizer quoting a recent study, "73% of responding employers are planning to increase their use of contingent labor."

And while jobs are still tough to find, there are ways for boomers and retirees to maximize the opportunity. The key is knowing where to look and what to do to improve your chances of being hired once an opening is located. “Temp employment and freelancing are two of the few sectors of the labor market that are growing rapidly and should be explored by all job seekers, regardless of age or the type of position that’s sought,” Koff said.

”Don't assume because you are an executive, a professional or in management that temporary jobs or project assignments are not for you,” Koff pointed out.

In 2009, firms like Kelly Services, Aerotek, Adecco and Manpower placed many thousands – including company presidents, lawyers, controllers, sales managers and senior level managers – in assignments that paid anywhere from $80,000 to several hundred thousand dollars a year. Retirees and Boomers who have the skills and experience can often find many project assignments and earn more than if they worked for a single company. These types of jobs usually provide no health insurance, sick days, vacation, retirement benefits, severance, access to unemployment insurance or stock options for top-level executives, all of which makes them a particularly good fit for many older workers who can accept temporary or retirement jobs without benefits.

The web site Koff founded in 2003, http://www.retiredbrains.com/, offers links to hundreds of thousands of employment opportunities and retirement jobs for boomers, seniors and retirees. Jobs can be searched by areas of experience, geographic preference, full-time or part-time opportunities, and temporary and project assignments. The site links to seasonal jobs and jobs with organizations like the census bureau or the Peace Corps. The site also provides a great deal of business start-up information, including a list of franchises and the kinds of research necessary that can improve the chances of success in starting your own business.

Koff is a nationally recognized expert who often speaks on the issues and challenges that face boomers, retirees and people planning their retirement. He has appeared on NBC and been quoted in Business Week, USA Today, The Wall Street Journal, Money Magazine and many other major publications.

For more information, contact Art at ArtKoff@RetiredBrains.com



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