A growing number of over-50s are starting second careers in entirely new fields, redefining traditional careers and making a significant contribution to the UK workforce.
The change comes as many Gen Xers and millennials seek new opportunities amid a rapidly changing job market.
Over the past 30 years, 73% of the nation’s job growth has been driven by workers age 50 and older. By 2025, it is estimated that one third of the UK workforce will be over 50. Despite this, age discrimination remains a barrier, with the Organization for Economic Co-operation and Development (OECD) reporting that only a third of firms would consider hiring someone. between the ages of 50 and 55.
Research from longevity think tank Phoenix Insights reveals that a third of 45- to 54-year-olds expect to change careers before retirement. Catherine Foot, director of Phoenix Insights, commented: “Second and third jobs are becoming more common, as people are living longer which means the average retirement age has increased. For those in their 40s and older, changing careers can be transformative—not only helping them find fulfilling work that makes the best use of their skills, but also enabling them to be financially stable later in life.”
The upcoming National Older Workers Week highlights the economic growth that can be achieved by supporting second and third jobs. With more than 3.5 million over-50s currently unemployed in the economy, encouraging job changes for this demographic is critical to addressing workforce challenges.
OECD research shows that the midlife career movement is linked to rising wages and a higher likelihood of a person remaining employed into their sixties. Lyndsey Simpson, chief executive of 55/Redefined, a campaign group advocating for age diversity and inclusion, said: “Second and third jobs are becoming an important part of working for the over 50s, providing an opportunity to rethink their professional lives again. offer their wealth of experience. Businesses that adopt age-inclusive and re-skilling policies will unlock the potential of this experienced and loyal workforce.”
While transitioning to new jobs may require skills development—especially digital skills—90% of workers aged 55 to 65 believe they have transferable skills suitable for new roles or industries. Popular options for second careers include mission-driven roles in philanthropy, youth services, and environmental programs, where experienced professionals feel they can make a greater impact.
Tracey Horn, executive director at Cambridge Judge Business School, emphasized the importance of embracing different career paths: “It’s important to be aware of the different, indirect paths we can take and the different versions of ourselves we may choose to be.”
