15 jaw-dropping predictions for workers over 50.
These are some of the fascinating forecasts I’ve just heard regarding the future of work for Americans over 50.
To help set the scene, let me share what Roy Bahat, head of Bloomberg Beta and co-chair of The Shift Commission on Work, Workers and Technology, told the Milken Institute Global Conference I recently attended in Los Angeles: “As much as we like to talk about millennials, the future of work is much older.” By 2024, his Shift Commission report notes, nearly one-quarter of the workforce is projected to be 55 or older — more than double the share in 1994.
Here are 15 forecasts for the future of work for Americans over 50, split by time period: In the next 5 years Many 50+ workers will delay retirement a few years or work part-time in retirement for extra income, say Green, Mahaffie and Jarratt.
Why not ones for their 50+ workers?
“The trend of working well into the third quarter of life, for pay and/or satisfaction, will be increasingly expected and common.” But much older workers may be forced to retire by law.
Samuel predicts “new mandatory retirement regulations will push 80-somethings out of the workplace.” The key word for workers over 50 will be “alongside.” For instance, they’ll often be working alongside AI-engineered robots (rather than losing jobs to them), say Green, Mahaffie and Jarratt.
This echoes the recent Next Avenue blog post I wrote, “Why Robots Won’t Be Coming for All Our Jobs.” Also, “there may be more situations of volunteers working alongside paid workers, maybe even managing projects or teams,” write the futurist trio.
The three futurists wrote: “White-collar workers who are downsized or displaced will be more likely to find replacement jobs, but often for less money.” Say goodbye, too, to the traditional linear life of education, work and then retirement.
“Genius clubs” and other forms of organized groups will likely emerge to “organize and channel older workers’ talents, products and services for pay and “do-good” projects, say Green, Mahaffie and Jarratt.