Having focused our firm’s business plan on providing career opportunities for highly experienced “portfolio professionals”, the Croixstone Consulting team applauds The Wall Street Journal for publishing last week’s business article entitled “Here Comes the 60-Year Career.”
Here’s our recap of the insightful and on-point career article.
The big picture: Because they are likely to live healthily into their 90s or longer, millennials and the generations behind them must learn to navigate 60-year careers instead of the traditional 40-year span.
“Over the course of 60-year careers, we’ll need to work and pace our careers differently.” – Laura Carstensen, Founding Director – Stanford Center on Longevity
The new career construct: Instead of advancing vertically up a single path, professionals will need to move sideways, and even down at times, as they traverse different jobs and multiple careers. Professionals should imagine a career that resembles a jungle gym rather than a ladder.
“The idea of portfolio careers, and change being a positive, was implanted in me early. Over any career, but especially a lengthy one, you need to cope with two ever-changing variables. First is in the business world, where new companies and many new jobs will be constantly emerging. And personally we change over time – and so do our interests, needs and curiosity.” – Charlotte Japp, Head of Platform – ff Venture Capital
The company challenge: Businesses haven’t yet structured ways for employees to stay productive and creative over lengthy careers. Few have established flexible routes in and out of the workplace, or “glide paths” toward retirement that enable older workers to work longer but at reduced hours.
Re-entry programs: Less than 10% of Fortune 500 companies have re-entry programs for employees who have taken career breaks for family caregiving or other reasons.
The need for lifelong learning: It is challenging with 40-year careers to stay on top of changing technologies and job requirements. Add another 20 years, and the challenge becomes even greater. Lifelong learning, including the potential need to return to school for training and perhaps even more degrees, will be essential.
