Retired, and Rehired to Sell
Retail Presents 2nd-Career Opportunities for the Older Set
Thursday, July 27, 2006; Page D01
When today's snowbirds pack their bags to head south for the winter, they throw in their beach towels, golf clubs and tennis rackets -- right alongside their orange Home Depot aprons.
Snaring those northern residents who spend winters in the South is the latest recruitment tactic being employed by large companies such as Home Depot Inc. and CVS Corp., which rely heavily on part-time employees willing to work flexible hours.
While some industries try to thin their ranks with early retirement offers, others, particularly in the high-turnover retail industry, have been bracing for a labor shortage as the baby boomers head toward retirement. Looking for new ways to recruit and keep older workers, Home Depot and CVS are now offering retirees jobs that move with them, from summer home to winter home and back again.
Edward Wright, 72, an electrical contractor for 50 years, started working for Home Depot in Lake Wales, Fla., because he was restless after retiring from his business in Burlington, N.J. The company hired him to work in its electrical department four days a week from 7 a.m. to 1 p.m., showing customers and co-workers wiring and other electrical do-it-yourself skills.
When it came time for Wright to return to New Jersey, Home Depot told him he could work there, too, and he went to work at a store over the border in Pennsylvania.
"I love it, to be honest with you," Wright said. "It feels like you're needed. Naturally when you get up there in age, lots of companies want to get rid of you."
According to a Merrill Lynch & Co. report released earlier this year, 60 percent of people age 51 to 70 have taken steps to prepare for a new line of work in retirement. And it's not all about the money. Of those who plan to work in retirement, 60 percent say they will do so to keep mentally active, while 47 percent cite the money.
Often, the companies are getting highly experienced employees willing to work at bargain rates. Pay for a general merchandise worker in the retail industry averaged $10.58 an hour in April, according to the Bureau of Labor Statistics.
On the downside, older workers may run up more health expenses. Costs for the 50-to-65 age group average 1.4 to 2.2 times as much as health care for workers in their thirties and forties, according to Towers Perrin, a human resources consultant. Many older, part-time workers, however, don't take part in company health plans. All in all, companies say, circumstances argue in favor of older workers.
"If we were not able to retain, train and hire and keep older people, we wouldn't have a business," said Stephen M. Wing, director of government programs with CVS. "The younger folks, there's just less of them. We need those older people to stay in the workforce, and people are living longer, healthier lives."
Whereas 38.3 percent of people 50 and older participated in the labor force in 1985, that figure had climbed to 47.1 percent last year, according to labor data.
"At one point, 65 was retirement age," Wing said. "To be honest, at 65 people are at their best. They have all those life experiences they can share. We see that as a real plus."

