Seek’s Evolving Working Life report this year showed 41% of respondents don’t think they’ll retire by 70.
The biggest reason for delaying retirement was that their financial situation won’t allow them to (58%).
Meanwhile, seasonally adjusted unemployment rose to 5.2% for the June quarter, the highest since September 2020, Stats NZ said on Wednesday.
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Stats NZ reported “labour market conditions have changed considerably in the last few years. Since the June 2022 quarter, the unemployment rate has risen by 1.9 percentage points”.
But older workers who were recently made jobless or looking to re-enter the workforce face a number of challenges, including new technology and ageism, Peters said.
“It will be very scary and quite confronting, especially if you’ve been at one organisation for quite a long period of time.
“I know that there are some thoughts of ageism in the workforce, and in certain professions that’s probably true, but I still think there are many opportunities out there for people who might be slightly older… they bring a different kind of skill sets to the table.”
Highlighting soft skills
Peters said each generation is almost defined now by bringing different types of strengths and skills to the workforce.
“I think the disadvantage [younger generations] have and the real development point for that generation is human interaction and the ability to manage relationships effectively and influence… that’s a real advantage that the older generation brings to the workforce.
“Ensuring that you can show the ability to influence at a human level… could be a real plus for the older generation.”
Peters said “battle scars” were important and often underestimated.
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“The older generation have seen a lot throughout their [working lives]. They’ve seen different types of technologies come and go, different types of situations play out in the workforce.
“Their experience navigating that is really important. And they should try to showcase that as well.”
Show you’re adaptable
Of equal importance is that jobseekers show they’re adaptable and willing to learn, particularly around artificial intelligence (AI), Peters said.
“One of the things that no one can escape at the moment is trying to ensure that they’re upskilling with their use of AI.
“So make sure you show, even if you are part of an older generation, that you are tech savvy… and that you understand how you can use AI to your advantage.”
Make use of your network
Peters said if you’re part of an older generation you’ve probably developed a network over time and shouldn’t be afraid to leverage this.
“Not all jobs are advertised and I think that’s important to know. Often organisations or employers will hire people that they know and trust.
“Ensure that you’re really working your network if you are currently out of work, invest in re-connecting with your network and make sure that’s relevant to where you want to head.”
Tailor your CV to the role
Peters said CV preparation is a big topic of conversation at the moment because of the use of AI.
“You need to try and bring a human element to your CV.
“So, if you’re going to use AI, only use it to a certain extent. One of the things that we try to encourage people to do is include a video introduction of themselves.
“If you can introduce yourself and really highlight some of the skills you’ve developed over your career and what you might bring to an organisation, and actually tailor that video message to a particular job you’re focusing on securing… it also shows that you’re not scared of using technology as well.”
Consider flexible ways back into the labour market
“The older generation is probably more used to a more permanent type of environment but I think now we need to be flexible in our approach,” Peters said.
This could include contract, temporary or fixed-term opportunities.
“And it might be 20 hours a week,” Peters said.
“If you’re flexible on your approach on getting back into the labour market, I think that’s going to stand you in good stead as well.”
Cameron Smith is an Auckland-based business reporter. He joined the Herald in 2015 and has covered business and sports. He reports on topics such as retail, small business, the workplace and macroeconomics.