There’s a huge wave of baby boomers retiring from insurance companies over the next few years. “These companies are losing senior executives en masse,” says Ira Ziff, founder and president of executive search firm Precision Research Group. “And then you have this crazy gig economy…”
Delivery services like DoorDash, GrubHub and Instacart changed how we get our food, alcohol, medicine. With the rise of the fractional executive, the gig economy has even made its way to the C-suite, Ziff and Robert Jordan, co-founder and CEO of InterimExec, told Carrier Management recently.
Fractional executives offer on-demand expertise to help companies fill leadership gaps or execute new initiatives. (See related article, “The Role of the Fractional Executive in the Insurance Industry”)
Are roles as fractional executives a good option for retirees?
“There couldn’t be a better time for a lot of these retiring senior executives to find a very fulfilling home in a company, in a role where they can be valued for their expertise and their wisdom,” Ziff said. “You have to understand also that there is universal age discrimination out there. I can tell you that the minute you turn 40, age discrimination starts, and then it gets exponentially worse.”
“You’ve got all these amazing people with all this expertise and knowledge that could potentially be available for interim assignments because they don’t want to work full time anymore. [But] they want to stay in the game,” he said. “They have so much to offer, and their age is a benefit, not a disadvantage.”
Ziff noted that, though he hasn’t personally placed any, the fractional executive route could also be perfect for stay-at-home parents or for somebody who had to be a caregiver to their own parents.
Robert Jordan, co-founder and CEO of InterimExecs, has a different view when it comes to working with retirees.
“Everyone’s free to obviously pursue their best careers and career options,” he said. “We, personal to InterimExecs and RED Team, will not work with retired people,” Jordan said, referring to his firm’s Rapid Executive Deployment team.
“We need people who still have fight for the game and want to crush it 24/7. We’re not going to work with people who may not have that level of energy.”