Thirty-one percent of US retirees report that continued inflation would motivate them to rejoin the workforce, according to a survey by the American Staffing Association.
The survey found that 14% of current retirees are open to or actively looking for work. However, 43% of retirees feel age could be a barrier to getting a new job. Meanwhile, 41% report they would look for a job if they get a flexible work schedule, and 35% will do the same if they can work remotely full-time.
The survey also found that, in addition to inflation, social security insurance remains a top concern for many retirees. Twenty-five percent report they will be motivated to rejoin the workforce if social security no longer covered their expenses.
Additionally, for 39% of retirees, social security is the main source of income, followed by retirement plans such as 401(k) accounts and pensions, 33%.
“At a time when more retirees need additional income and employers need their expertise and experience, older workers continue to face hiring barriers,” American Staffing Association President and CEO Richard Wahlquist said. “Employers that take steps to embrace flexibility and diversity across their entire workforces will be more productive and have higher levels of employee engagement.”
The American Staffing Association Workforce Monitor survey was conducted online from June 2 to June 6 by The Harris Poll and includes responses from 2,027 US adults of whom 459 were retired and not employed.