by Vicki Salemi With the oldest baby boomers now over 60, more Americans than ever have their eye on retirement. But for many nearing age 60, plant closures, industrial layoffs, and the like have put retirement dreams on hold. Whether the displacement is due to a poor local economy, overseas competition, or any number of industry changes, many boomers are finding themselves at the career drawing board at a late stage in their lives. And some conclude that going back to school offers them the most opportunities. According to the National Center for Education Statistics (NCES), by 2010, 16 million people in the country will be enrolled in colleges and universities. Interestingly enough, more than half of the enrolled students will be adults or older students encompassing baby boomers who are delaying retirement. As both the life expectancy for boomers and corporate downsizing increases, many professionals are realizing first-hand that returning to campus or the e-classroom gives them an advantage to jump-start new careers in their twilight years. Outsourced back to college For Marilyn Hadley, former assistant vice-president at JPMorgan Chase, being outsourced propelled her into action. As a 30-year veteran of the financial services institution, her position was displaced twice in recent years. Several years ago, Hadley's department relocated from New York to Dallas. As a manager of 14 staffers, she was given the option to either move or receive an early termination package. She chose to move. "I had already devoted 22 years of service with the company," she explains. Hadley recalls a conversation with her mentor, who inquired if she had considered returning to school. (She had started her bachelor's degree in business management at Rutgers University years ago, but due to demands of working six days a week, that dream was put on hold.) "It made me realize I needed to make Education a priority," she recalls. "You can't say what's going to happen tomorrow, but you have to have a plan." Hadley began taking courses that included human resources, critical thinking, and accounting, culminating in a bachelor's degree in business management from the Dallas campus of the University of Phoenix. Her degree came in handy when Hadley found herself in a familiar predicament: her position was again being outsourced, but this time relocation was not an option. She was able to leverage her degree by angling a lateral move within the company. She safely landed in another department as an inquiry help desk manager. “I'm working toward more customer-service oriented training to grow into a senior position with more exposure," Hadley explains. “Earning that degree has given me more confidence. If any layoffs were to happen now, I'd be dead in the water without it." She's now considering pursuing a master's degree. Corporate ladder disintegration When David Humphrey's position was outsourced, he was unable to find a fit elsewhere in his company. Although Humphrey had spent 20 years at Mason & Hanger Group Inc., an architectural engineering construction firm, earning the position of information technology manager, he wasn't able to survive a reduction in force. "For 20 years, the company did not make any technology decisions without my input--then I was shown the door." Humphrey was suddenly forced to evaluate his future. “It became obvious that in order to use my skills, obtaining a degree was absolutely necessary," he says. “The market is saturated with people who are not only experienced, but also have degrees. I could not compete." Humphrey spent his two years of unemployment pursuing a bachelor's degree in management from the University of Kentucky and will earn his degree this May. His experience, supplemented by his recent academic endeavors, helped him land a information technology position at HMB Professional Engineers, Inc., an engineering consulting firm. "At first, the goal was simply to obtain a degree as quickly as possible in order to use my existing skills, but learning and increasing my knowledge through higher Education has brought new optimism," says Humphrey. “Once I earn my degree, I'll feel ready to face the future." Cooking up a new career When Agnew Hopkins, lost his job as an in-house cafeteria manager and employee services manager for Stouffer Foods Corporation, he was anything but prepared. Although he was given six months notice that he was being downsized, and he received a nine-month severance package, including full benefits and salary, he was still devastated. However, he saw the situation as a chance to fulfill a lifelong dream. "I had always wanted to go to culinary school even when I was at Clemson earning my bachelor's degree." After discussing it with his wife, Agnew enrolled in culinary school and took a job at a local restaurant. Soon after, he was approached by the dean of hospitality to teach a part-time class, Introduction to Purchasing, based on his prior experience. It was then that he realized he'd like to teach full-time. “So back to school I went," Hopkins says. Agnew enrolled in The Citadel's master of arts in Education program while teaching part-time and working at the restaurant. Now an assistant professor of Hospitality College at Johnson & Wales University (Charlotte, North Carolina campus) who served as a full-time instructor for six years--with a master's under his belt--he reflects on the opportunity his downsizing created. “It was definitely a blessing in disguise. At the time of my job loss, I was crushed and so worried," he explains. "But, you have to be ready for opportunities when they come along. I would not be teaching today in such a well respected institution if not for that gloom-and-doom day." According to Bernadette Kenny, chief career officer at Adecco North America, a staffing company, baby boomers are well equipped to adapt to new careers, and should take advantage of a career break--voluntary or otherwise—to use whatever resources are at their disposal to refocus. “The generation of workers headed toward retirement years has all of the core skills to easily adapt to a new work situation very easily. The idea of 'recareering' should not be intimidating, since there are so many opportunities to get the skills needed for any field." For example, Adecco offers training for various skill sets and specializes in aiding older workers in their job searches. Plus, she explains, changing careers later in life provides the opportunity to explore new passions. Having been through such an experience, this time, Agnew is making sure in advance he's ready for future opportunities by pursuing an additional master's degree in hospitality administration from Southern New Hampshire University. “We need to keep our credentials current and updated," he explains. "We do not know what is just around the corner for us." Vicki Salemi, a frequent contributor to ClassesUSA.com, Online Degrees Magazine, and The CollegeBound Network, writes regularly about Education and career issues. She is also the author of "The ABC's of College Life”
by Vicki Salemi