Thanks to improved health and longevity, Americans are working later in their lives than ever. In 2022, one in twelve people aged 75 or older were still in the workforce, a number expected to climb to one in ten by 2032, according to data from the U.S. Labor Department. With an extended period of working, career trajectories are no longer linear.
The concept of an "encore career" – a second, distinct phase of professional life, often embarked upon after retirement or mid-career – is becoming increasingly popular among those near, at, and after retirement age. An estimated 9 million people aged 44–70 are currently working in an encore career, according to research from Civic Ventures. Many people have turned their encore careers into fulfilling and impactful chapters of their lives, allowing them to leave behind not just memories but an enduring legacy.
An encore career typically starts later in an individual's working life. Thomas Greenbaum, the 81-year-old founder of Encore Strategic Business Consulting, exemplifies this journey. Unlike most retirees in their mid-60s, he volunteered with SCORE (Service Corps for Retired Executives), providing 600-700 counseling sessions to small businesses over the course of 11 years. He demonstrated the dynamic nature of encore careers through his experience at SCORE and subsequent transition to founding his consulting firm.
“Unlike traditional retirement, which marks the end of professional engagement, an encore career offers the opportunity to explore new passions, leverage experience, and contribute positively to society. It’s an exciting time for those of us who still have the energy to work and the comfort to find true meaning in our work,” says Greenbaum.
“Many individuals crave change after spending decades in a particular field or job. They want to use their skills and experience in new ways, often focusing on areas that contribute to the greater good. While there are no rules about what constitutes an encore career, some paths we’re seeing people take include working in non-profit organizations, education, healthcare, environmental conservation, and other fields that prioritize a higher purpose.”
Many people stumble upon an encore career by accident, without necessarily intending to return to the workforce. Others need to work to supplement their retirement income or because of an internal drive to fulfill a higher purpose.
"Before leaping into an encore career, take a moment to reflect,” he suggests. “Consider what truly ignites your passion. What impact do you aspire to make? Evaluate both your professional and personal skills and experiences. Think about how they might pivot to a new career trajectory. Then, strategically align yourself with organizations that resonate with your self-assessment.”
Greenbaum's own career trajectory exemplifies this philosophy. Beginning with his pioneering work on focus groups in the mid-80s, he has continually shared his knowledge and expertise. His passion for education led him to teach at prestigious institutions such as Harvard University, Cornell, and NYU Stern's MBA program, bolstering his credentials in consulting and small business management.
The path to an encore career often requires new skills. Greenbaum has had a diverse career, he has authored eight books, covering topics such as focus groups and small business management. His latest book on operating a successful audiology clinic, showcases his dedication to knowledge acquisition and sharing. His book The Consultant's Manual, derived from his Harvard experiences, serves as a valuable resource for those navigating career transitions.
"Your wealth of experience is your biggest asset in an encore career," he asserts. "Use your accumulated skills and knowledge to make a significant impact in your new role. Your unique perspective can lead to innovative solutions." He emphasizes the value of sharing knowledge, drawing from his own experience as an author. "I've been dedicated to sharing expertise since writing my first book on focus groups in 1986.
Adaptability is of utmost importance. "Be open to new ideas, concepts, and technologies, especially when entering a field or industry that's new to you. This openness can lead to unexpected and rewarding opportunities," he advises. One must be capable of reinventing themselves every decade or so both to expand their horizons, and to add interest and excitement to their work. It’s as the saying goes, if you love the work you are doing, you will never work a day in your life.
Maintaining balance is key. "An encore career offers the potential for a more balanced lifestyle. Embrace this opportunity. Allocate time for hobbies, family, and other interests to achieve greater job satisfaction and personal happiness," advises Greenbaum.
An encore career represents more than just continued work; it's a chance to redefine one's professional identity and make a meaningful impact. For those considering this path, it’s important to remember that the journey requires thoughtful planning, a willingness to learn, and a focus on the broader implications of their work. With these elements, an encore career can be a gratifying and enriching experience, allowing individuals to contribute their skills and passions in new, impactful ways.
