{"id":9298,"date":"2022-05-01T06:05:58","date_gmt":"2022-05-01T10:05:58","guid":{"rendered":"https:\/\/kerryhannon.com\/?p=9298"},"modified":"2022-05-01T06:06:19","modified_gmt":"2022-05-01T10:06:19","slug":"the-workplace-has-changed-in-5-fundamental-ways-because-of-covid-19","status":"publish","type":"post","link":"https:\/\/kerryhannon.com\/?p=9298","title":{"rendered":"The workplace has changed in 5 fundamental ways because of COVID-19"},"content":{"rendered":"
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When COVID-19 started to rip through the global workplace in 2020, it spawned job losses, shattered businesses, and triggered many older workers to leave the workforce \u2014 often earlier than planned.<\/span><\/div>\n<\/header>\n
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It happened fast. It was breathtakingly brutal. And no one was prepared.<\/p>\n

The result? Our lives and our workplaces were fundamentally changed in ways I detail in my new book \u201cIn Control at 50+: How to Succeed in the New World of Work<\/a>.\u201d While these trends were percolating prior to the pandemic, they sped up in the last two years and could provide a boost for all workers \u2014 but especially older ones.<\/p>\n

\u201cThe pandemic has accelerated a movement to think of work and life in a more open-minded way,\u201d Jeff Tidwell, CEO and cofounder of Next for Me<\/a>, told me. \u201cNo matter the age, over the past year we rethought what work-life balance could be, including the time we spend with our families and communities, and even where we live.\u201d<\/p>\n

Read on Yahoo Finance<\/a><\/strong><\/p>\n

Here\u2019s how work has changed.<\/p>\n

Midlife entrepreneurship is increasingly popular and viable<\/strong><\/h2>\n

Meet the new boss! It\u2019s you. In the new world of work, entrepreneurship and self-employment will be a go-to solution for a growing number of adults over 50 who have either a burning desire to be their own boss or yearn to take control of their destiny.<\/p>\n

The Kauffman Foundation, which studies entrepreneurship, saw a steep uptick in startup activity since 2020, with most of these new entrepreneurs 45 and older. Older entrepreneurs typically have more capital, knowledge, and experience than younger entrepreneurs and, as a result, a higher rate of success than their younger counterparts, according to a study by MIT researchers<\/a>.<\/p>\n

Technology has made it possible to build a business without a brick-and-mortar footprint and large startup costs. It also makes it seamless to hire a virtual helper on a contract or temporary basis rather than committing to the responsibility and ongoing overhead of full-time employees.<\/p>\n

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\"Dave<\/div>\n<\/div>\n<\/div>\n
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Mid-life entrepreneurship is on the rise. Dave Summers used a pandemic layoff as an opportunity to launch his own business and move to a state where the cost of living is cheaper. (Photo courtesy of Dave Summers)<\/figcaption><\/figure>\n

Dave Summers was one of those nouveau entrepreneurs in his early 60s. He was laid off as director of digital media productions at the American Management Association during the first rush of the pandemic in 2020. It was a shock, but he used it as an opportunity to start his own business <\/a>as a digital media producer, coach, and animator creating podcasts, webcasts, and video blogs.<\/p>\n

Summers and his wife also chose to relocate from Connecticut to Tennessee where the cost of living was lower. \u201cMy new work is all virtual, so I can live anywhere,\u201d he told me. \u201cNot only is it a cheaper place to live, but we also love hiking and the outdoors, and our new town is in the foothills of the Great Smoky Mountains.\u201d<\/p>\n

Contract positions are swelling<\/strong><\/h2>\n

The shift to contract or short-term projects can help you stay on the job or keep current work experience on your r\u00e9sum\u00e9 while you hunt for a full-time position. It can also open the door at a potential employer that might lead to a full-time position. Employers are more apt to take a chance on an older worker in a contract position to avoid hiring a full-time employee with the full costs of benefits and what they might perceive as a high-salary expectation.<\/p>\n

Contract positions can also benefit someone who wants to keep earning a paycheck but doesn\u2019t necessarily want the \u201cpedal to the metal\u201d full-time commitment.<\/p>\n

The downside, however, is if you depend on benefits that come from a full-time job, this trend can be disturbing. This is particularly an issue for workers in their 50s who rely greatly on an employer-provided retirement account<\/a> and access to an employer-provided healthcare plan.<\/p>\n

Older workers are making their dream career changes<\/strong><\/h2>\n

Career changes later in life used to make people gasp and question if you know what you\u2019re getting into, or if you have enough runway to really make a go of it in a new field. You were an outlier, a risk-taker. But the pandemic has infused people with a new desire, passion, and confidence to shift to work that has meaning. More and more, people are asking: If not now, when?<\/p>\n

Hitting the books is a smart career move<\/strong><\/h2>\n

Lifelong learning is no longer just a great way to stave off boredom and pass the time or learn something you might have always wanted to study but didn\u2019t have time to. It\u2019s now an essential tool for staying up-to-date on your job or landing a new position when you are over 50. The good news is that the pandemic spurred an uptick in offerings of top-drawer and affordable adult education online.<\/p>\n