“What has continually surprised me is how much I know and how much managers are willing to underrate me. It is very, very frustrating. They say, ‘We want somebody cheaper, not somebody who knows more.’” – unemployed 63-year-old policy analyst.

As the economy continues to improve, the job market is better, but anyone over 50 should take important lessons from the recent recession about their own long term employability. Here are five things I’ve learned from almost 50 in-depth interviews and a survey of over 1,200 U.S, residents age 55+ who are working or looking for work. For more details, see our study “Buddy, Can You Spare a Job? The New Realities of the Job Market for Aging Baby Boomers” at the link below this article.

1. Your experience is overvalued – by you – and undervalued by the market. “You spend your whole career trying to get enough experience, then you wake up one day and you’ve got too much,” said one unemployed 59-year-old lawyer. Older job seekers often think their extensive experience is an asset, but younger hiring managers may respond negatively to this expertise because they equate it with higher salary requirements and less technology prowess.

   To succeed in today’s job market, you’ve got to identify and communicate how you’re going to make a potential employer more successful. Your know-how gained in the past is only relevant in terms of the value it can add in the future. Don’t assume others see that connection. The question is how can what you have learned in the past help potential employers in the future? That’s what you’ve got to sell.

2. Are you riding into a career box canyon? In the old Westerns, smart cowboys avoided these and you should, too. As many people reach age 50, they often don’t recognize they’re headed into a dead end work situation. Straight ahead of you could be a fast-changing industry where your job is threatened by new competitors, outsourcing trends, or new technologies. On your right side is the threat that your more generic management, marketing, or sales skills are going to be seen as obsolete or too expensive. And, on your left, is the increasing specter of age discrimination.

   The best defense against this trifecta of career threats is to recognize the changing realities of the job market for those over 50. First, identify the industries and organizations in your region that are growing, or at least stable. Second, look for organizations that have demonstrated a management style and workforce culture that clearly values experienced workers. (See my “Buddy Can You Spare a Job?” study for more on how to do this.) Finally, watch for opportunities in small to medium-sized companies that are more likely to value veteran workers who have a track record of accomplishment. You may not need to change jobs today, but don’t get caught looking up at those canyon walls and wonder why you didn’t see this problem coming. Start thinking about your options now.

3. Don’t let your professional network become outdated and atrophied. One of the biggest mistakes older workers make is not keeping their external networks of personal contacts vital and up-to-date. “Those doing the hiring have become totally inaccessible because of the online job application process,” one older technical writer told me. “That means you can’t get any face time unless you know someone who knows someone.” Online applications, which may require dates of college degrees, increase the chances of age discrimination, whether intentional or unintentional. Thus, personal relationships become even more critical for older job seekers. One top executive recognized he had at least one more work transition ahead of him, so he assiduously made connections with vendors in his industry and became well known by speaking at conferences. When he turned 65, he was able to use these contacts to find a small consulting group where he began working part-time.
4. Stop dumping on Twitter! If you don’t know what this means, you’re either a senior executive with a great pension, or you’re going to be in trouble when you look for your next job. (By the way, if you work in the private sector, you’re likely to be changing jobs every four years on average, according to the Employee Benefit Research Institute.) One of the major findings of this research is how unrealistic older job seekers are about their outdated technology skills, even if they’ve been working for a major firm. While you are working with your current employer’s technology tools, new capabilities are emerging on the market monthly. One of my favorite lines: “Of course I know computers, I’ve been using Windows 98 for years!” You don’t have to love all the newer technologies in the marketplace, e.g., social media, cloud computing, and smart grid technology. But you better be able to talk about them intelligently to a 35-year-old hiring manager, who otherwise will write you off as a bad fit for the new firm’s culture.
5. Manage your energy to overcome your growing ambivalence about work. To be a strong job candidate as you get older, you’ve got to become clearer about what kind of work really energizes you. Employers look for passion and energy in older workers, notes jobs guru Richard Bolles. That’s what separates highly-valued veteran employees from every manager’s nightmare – an employee who has retired-on-the-job. One of the clear findings from my research is that as people move through their sixties, in general, they become increasingly ambivalent about working. Although more Baby Boomers say they want to work, job counselors and coaches shared plenty of stories of older job seekers sabotaging themselves during interviews because of their mixed feelings about work.

To be a good job candidate later in your career, first do the math to clarify the status of your retirement assets. Could you really retire comfortably today and live into your eighties in the lifestyle you want? Or, are you kidding yourself? Like many Boomers, will you need to work at least part-time until you’re 70ish? If so, then invest time discovering what kind of work and work setting will energize you, so you can keep adding value for an employer, even as your physical stamina and drive to work declines.

Aging Baby Boomers have made it clear that they want and need to work longer than previous generations. But, historically, less than a third of those who said that they wanted to work in their retirement years have been able to find suitable jobs. If Boomers are to change this pattern of being forced out of the workforce earlier than planned, they have to get smarter about how they approach potential employers to increase their chances of success. Are you taking the steps you will need to be a successful candidate the next time you’re on the job market?

“Will you still need me, will you still feed me, when I’m sixty-four.”
– John Lennon would be 69-years old today

For more on insights on mistakes to avoid in job searches today see our report “Buddy Can You Spare a Job? The New Realities of the Job Market for Aging Baby Boomers” published in collaboration with the MetLife Mature Market Institute at the link below:

“Buddy Can You Spare a Job? The New Realities of the Job Market for Aging Baby Boomers”