Mr. CEO, You Laid Me Off At 50, Now You Want Me To Work To 70

Pensive Businessman Using Laptop

Yesterday, I heard on the radio that there are some CEO’s who want people to work until age 70, to save Social Security.  It hasn’t become the law of the land yet.  And it is only a few CEO’s, but I want to share my thoughts on the matter.

While it sounds like a great idea on the surface, there are a few things that will have to be considered.

  1. Many companies get rid of workers over 50 because they are too expensive.  Will companies be willing to continue giving raises to workers until they are 70?
  2. Age discrimination, the secret truth, prevails when hiring new employees.  Ask anyone over 50 in a job search how their job search is going.  Can’t imagine what it will take to get a job at 60 or 65.   
  3. There are some jobs that are just too physically demanding to ask someone to work them until age 70.  Ask the man with the jack hammer, the bricklayer, the roofer, the hairstylist, the waitress or nurse if their body can take the demands of the job for that long?
  4. College graduates will suffer initially.  Their entrance into a company relies on the upward mobility of the employees.   As the older workers retire, they are replaced by promoting workers all the way down to the entry-level workers, the college graduates.  But if the older workers don’t leave, there aren’t openings to fill along the pipeline.
  5. Consider the 50-year-old who was laid off and having trouble finding a job now has to wait to 70 to retire.   How do they support themselves until age 70?
  6. Some companies are offering incentives to retire early.  Are these the same companies that want people to work until age 70?
  7. Retirees and teens will be competing for low paying part-time jobs.

A couple of years ago, my husband and I were watching a commercial about living to 100.  My husband asked me if I wanted to live to be 100.  I told him that I didn’t think we could afford it.  He answered that he will be still working.  I think he might be right.

7 Comments to "Mr. CEO, You Laid Me Off At 50, Now You Want Me To Work To 70"

  1. Tim B's Gravatar Tim B
    January 20, 2013 - 10:17 am | Permalink

    58 and an involuntary separation from a bank after 30+ years in the banking industry. 2011 was a difficult year trying to find a similar salary in a small town in SE MN. Now working part-time waiting for my seasonal full-time job to start up in the spring. Happy with life, no stress, no debt, and a great wife!

  2. Janice's Gravatar Janice
    January 19, 2013 - 12:02 pm | Permalink

    I’m there! White hair, just turned 50, unemployed. So here I am trying to start up a business . Biggest learning curve ever :)
    Great post, thank you.

    • Lisa Face's Gravatar Lisa Face
      January 21, 2013 - 12:37 am | Permalink

      I’m with you there Janice. Reinvention into the business world is the most challenging and exciting thing ever and fingers crossed my new venture will work out! Hang in there, hold the vision and each morning ask yourself this question: what can I do for my business TODAY?

  3. Wendy Bottrell's Gravatar Wendy Bottrell
    January 19, 2013 - 10:23 am | Permalink

    True, True and True! Being over 50 myself and in the past looking for a job is not possible. I walk in with my grey hair and I know I have just been judged as old, over the hill and not with it. UnEmployable! Thanks for the post! Wendy {UBC}

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