Many HBS alumni are not interested in retiring. They want to scale back their current careers, but still remain engaged and active. They often design "third stage" careers which allow them to apply their skills and knowledge to different kinds of work: consulting, entrepreneurial ventures, not-for-profit, board service, and teaching, to name only a few.
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Am I a "Third Stager?"
Conduct a self-assessment of your values and skills. This will allow you to clearly articulate what you have to offer, what you want to do, and where you want to be in the future. The following questions can help you determine whether a third stage career is right for you:
- Do you need benefits that usually accompany full-time employment?
- Do you need stability (vis a vis control over your time)?
- Do you want to create something new or be on your own?
- Are you risk averse?
Schedule a coaching session at Alumni Career Services for help thinking about these questions and the next stage of your career.
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How Do I Prepare?
Start while you are still working. Think about creating the third stage of your career as you would a job search. Consider the following questions:
- What am I passionate about?
- Where do I want to have an impact?
- How do I want to generate value for myself and those around me?
- How might my skills transfer to a new role?
- How might my finances change and how can I prepare?
Once you have answered these questions, identify organizations you are interested in and get involved. This is the time to experiment to determine where you can contribute and to build your credibility and name brand as an individual.
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How Do I Make the Transition?
A third stage career is an opportunity for you to expand your horizons and explore areas you hadn't done in your previous career. Here are some suggestions for making a successful transition.
- Introduce small changes at first with a goal and plan in place.
- Consider working in a different capacity with your current employer, where your personal brand is already well known.
- Leave your current position when you have a strong network and feel accomplished.
- Evaluate your network and reach out to them.
- Test your ideas and interests in different markets and gather feedback.
Visit the Networking area of Career Development for more information on strategies and resources.
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Resources
AARP's site is rich with resources and information on careers after 50, finding a job, best employers, and much more.
Bridgestar provides talent-matching services, content, and tools designed to help organizations build strong leadership teams and individuals pursue career paths as non-profit leaders.
Civic Ventures is reframing the debate about aging in America and redefining the second half of life as a source of social and individual renewal.
New Directions works exclusively with leaders in the corporate, professional and public arenas, guiding them through work and life transitions to new opportunities.
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Books and Articles
Cooper, Cary L. "The future of work: careers, stress and well-being." Career Development International, 2005: Vol. 10, Iss. 5.
Corbett, David. Portfolio Life. San Francisco: John Wiley & Sons, 2007.
Maitland, Alison. "Not at all shy and far from retiring: Alastair Ross Goobey." Financial Times, Jan 9, 2002: p. 14.
Pitcher, George. "Portfolio career revolution will never reach the masses." Marketing Week, Feb 10, 2005: p. 31.
Erika D. Smith. "Older workers stay competitive by learning to market themselves." Knight Ridder Tribune Business News, Aug 2, 2004: p. 1.
