First the bad news. More than half of all workers 50 and older lost their long-term jobs between 1992 and 2016 because they were laid off or forced to leave involuntarily, according to a 2018 analysis of Health and Retirement Study data.
Now the good news. The unemployment rate for people 55-plus is only 3 percent.
The same-old news? We live in a fluctuating economy and hiring trends don't always last.
The best thing you can do is keep yourself as qualified as anybody else so you're too valuable to let go — anyone can learn to use Slack, but there's no substitute for experience.
"We encourage our children to enhance their skill set in preparation for college and the workforce. This is no different,” says Elena Cates who, as an executive search consultant for nearly 30 years, knows what today's employers value. “You must continually add more than years to your résumé; you need new professional experiences that allow you to remain competitive regardless of your age."
1. Be an old dog with new tricks
Monitor and master the trends affecting your industry — even if they're not immediately impacting your job. If there's a new software program or you need a crash course in something, try Coursera and Udemy, two of the many websites that offer at-home professional development. As your department and responsibilities evolve, you should, too.
"You need to continually enhance your professional status,” Cates says. “Become fluent in a computer program or language that is critical in your field. Bring something extra to the table — legal, compliance or regulatory knowledge that is forward-thinking in your industry sets you apart.”
If you're not sure what know-how you're missing or what could up your value, look for your position on job boards like Glassdoor or Indeed.com. Are you lacking by comparison? Visit career-specific sites. Are you in finance? Check out OneWire.com. Are you in marketing, journalism or PR? Try MediaBistro.com. Engineers and techies can visit Dice.com. This is what employers are looking for in ideal candidates who do your job.