Returning to work after retirement has gone from trendy to ageless. While many seniors plan financially for retirement, their decisions to work are often influenced by a combination of financial and personal factors, including the desire to remain engaged in meaningful work. The idea of fully stepping away from their professions is less appealing, with many choosing to continue working in some capacity instead of completely retiring.
In an industry grappling with significant labor shortages, “unretirement” presents a valuable and innovative solution. Within cloud accounting, unretirement provides a unique opportunity to tap into the wealth of knowledge and decades of experience that seasoned accountants possess, all while directly addressing the growing demand for skilled professionals. As businesses adopt more and more cloud-based solutions, the need for expertise in this area continues to rise, making retirees a crucial resource for bridging the gap.
This approach enables retirees to remain active in their profession, contributing their specialized skills and deep understanding of the industry in a rapidly evolving, tech-driven environment.
By embracing unretirement, returning employees and organizations can benefit from a mutually rewarding arrangement, allowing seasoned professionals to stay engaged and continue making an impact.
Why are retirees returning to work?
Everyone has their own reasons for unretirement, but based on my experience, here are four of the more common reasons:
- Boredom. After spending decades in a career, it can be difficult to experience non-productivity.
- Purpose. Retirees are missing the sense and meaning of the fulfillment they experienced with their work.
- Financial stability. In a recent CNBC and SurveyMonkey poll, 53% of respondents say they feel they are behind on retirement planning and savings.
- Social Security benefits. Delaying your Social Security benefits until you reach your full retirement age can have a big financial impact.
Where are retirees finding opportunities in cloud accounting?
Mentorship and coaching. A vintage soul can leverage their experience to advise and support newer, diverse talent, fostering growth in a multigenerational office or remote work environment. Similarly, a returning fiscal phenom can bring valuable expertise to firms adopting virtual CFOs and part-time specialists to support the growth of their businesses.
Flexible employment models. For those who may be transitioning from retirement or semi-retirement, the ability to work remotely or set their own hours provides autonomy and control over their schedule. This also offers the freedom to ease back into the workforce, avoiding the pressures of a traditional 9-to-5 job. The flexibility allows for a less rigid and more accommodating work environment, which can be especially appealing for those looking to stay professionally engaged while enjoying personal interests. In addition, the opportunity to work from anywhere can weave semi-retirement wanderlust into a semi-retired lifestyle.
Specialized niches. For a retiree returning to the workplace, specialized niches offer opportunities in advisory services, implementing cloud-based solutions, and strategic planning for companies looking to scale. There is also a regional focus on high-demand areas, such as startup hubs and rapidly growing sectors, where experienced financial leadership is needed. This allows highly experienced number crunchers to apply their expertise in areas that are critical to business growth and success.
Considerations for retirees entering cloud accounting
Of course, there are also issues that anyone considering unretirement should consider. These include the following:
Tech upskilling. Adapting to modern tools such as QuickBooks Online is essential for retirees returning to the workforce. Grabbing onto training opportunities, including online certifications and firm-supported learning programs, help retirees transition smoothly into their new roles.
Reentering the workforce strategically. Aligning roles with personal expertise in auditing, advisory services, or cloud system migrations allows retirees to leverage their skills. The focus is on positioning retirees as mentors or consultants, maximizing value for both the individual and the organization.
Leverage legacy expertise. Show a prospective employer that you’ve showcased decades of financial acumen while learning cloud-first tools and methodologies. This may include being prepared to discuss examples of how you embraced cloud technologies. Talk about any challenges you faced in adopting new technologies, and how your long-term experience helped you leverage the tools to provide greater value, efficiency, or insight.
ProTip: Tailor resumes to reflect adaptability and a commitment to innovation.
- Build networks with industry professionals and tap into online communities. Engaging in discussions, sharing know-how from your career, and asking questions can help you connect with like-minded professionals and stay updated on industry trends.
- Attend virtual and in-person events. Many events offer networking sessions or breakout rooms where professionals can meet and exchange ideas, making it a great way to connect with others in the field.
- Participate in industry associations. Joining professional organizations or associations related to accounting and cloud technologies can open up opportunities to network with professionals who are actively involved in cloud accounting.
- Leverage alumni networks. Tap back into your professional alumni network and reconnect with former colleagues or mentors. This could lead to new opportunities and relationships in cloud accounting.
- Connect with cloud accounting firms such as my firm, Nimbl, that emphasize flexibility and scalability for experienced professionals.
- Navigate age bias through value. Emphasizing qualities such as reliability, strategic thinking, and strong problem-solving abilities set you apart. Data shows that firms are increasingly recognizing the value of older workers for mentorship roles and knowledge transfer.
It’s all about value
Older workers bring decades of invaluable experience to the table, with knowledge and skills honed through years of hands-on work—the kind that can’t be Googled or TikToked. In addition to their expertise, older workers offer valuable mentoring and share strategic insights, helping to guide and shape the next generation of professionals.
By offering stability and a long-term perspective, returning retirees bring added value to fast-growing firms, ensuring sustainable development and thoughtful decision-making during times of change. They can draw on their extensive experience to help organizations navigate the complexities of growth, providing strategic direction on adopting and integrating cloud technologies that catalyze efficiency and scalability.
Seasoned workers with decades of experience are also incredibly valuable to quality control, especially as more automated solutions are integrated into the accounting month-end close process. Just like humans, technology makes mistakes. Experienced accountants’ deep understanding of traditional accounting practices allows them to identify potential issues that automation might overlook, ensuring accuracy and reliability. With their intuition for accuracy, they can provide oversight and guidance, helping to maintain high standards of quality and consistency as technology continues to evolve.
Redefining your retirement
If unretirement is in your future, embrace the opportunity to contribute your wealth of knowledge and expertise. Don’t be surprised if your decades of experience fit into the cloud accounting ecosystem that honors the past while boldly defining the future!
