With people living longer, they’re also working longer. But with the prospect of working for more than 40 years, it makes sense that you might choose to change your career path at some point. With this in mind, it’s worth having a midlife career review to determine how you want to spend your remaining working years.
This does not constitute advice and advice should be sought in all instances before acting on it.
What is a midlife career review?
It’s a time to focus on mid- to long-term career plans, using a comprehensive approach that takes your finances, career goals, and physical, mental, and emotional health into consideration.
Basically, anything that may affect your work should be part of a midlife career review. Maybe you want to reduce your hours, explore a new specialism, work toward early retirement, or stop working altogether. How you want to spend the rest of your life and what kind of lifestyle you’d like will help you determine how to move forward.
The role of employers
A big challenge for employers is retaining the talent they already have.
While attracting younger generations into the profession is clearly important, keeping existing staff means keeping knowledge and experience that might have been built up over years or decades, even. It also saves on recruitment.
Employers should ask themselves how they can support their employees’ ambitions.
Employers might need to offer additional training, further schooling, more attractive benefit packages, or a more flexible work environment in order to retain and keep their employees happy and performing well.
A midlife review creates an opportunity for employees and employers to meet and discuss their options and reach a mutually beneficial conclusion. Every review will obviously be quite different as each person will have unique needs, but what’s covered in a review should remain the same for everyone.
Get a professional opinion
When considering a possible change in career path, your financial situation is a major factor. Speak to a financial adviser for advice on how you might be able to alter you career path while still meeting your financial goals. Get in touch with us today.
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