In a 1996 study that surveyed over 5,000 British workers, it was observed that job satisfaction followed a U-shaped pattern. However, the lowest point in job satisfaction occurred at around 39 years old.
While today, the statistics could have altered and be different depending on the location, there is still no denying that there is a point at which people who might already be in a C-lever position take the leap and aim even higher.
As many believe, there is always room for improvement. While some consider just waiting for retirement, others seek new horizons. What motivates already-established professionals, and where do they turn when they feel they’ve reached the pinnacle of their careers?
This article will discuss everything you need to know about career development in the entrepreneurial world later in life.
Common reasons people change careers later in life
Scientific research indicates that people aged 40 and older can be the most productive and effective at work. In addition, career changes are becoming more common with increased longevity, which means that people might change careers several times throughout their lives.
“When you’re in your 40s, you’ve got the knowledge, experience, and the ability to get things done quickly and at a high level of quality. You also bring strategic thinking and a host of other valuable skills to the table. But, there’s a common belief that younger employees are in higher demand.
Kilo Health provides a great example of this. We all started as juniors and had a blast. However, as we grew, we realized the value of bringing in more senior-level talent to take our workplace to the next level.”- explains Aurelija Ganusauskaite, the Learning and Development Manager at Kilo Health.
Here are the reasons why people choose risk beyond stability later in life:
Higher Career Satisfaction:
“People in higher positions consider whether they’re satisfied with their work-life balance, income, and energy. You no longer want to do everything, you only want something that brings value and interest to you. Going for an even higher position may offer them the improvements they seek,” explains Ganusauskaite.
Pursuing a Passion:
“Later in life, we begin to ask ourselves these questions: ‘What do I want to do?’ As professionals with competence, we have the opportunity to choose. We are driven by the desire to continue our journey of self-realization, making it our most prominent motivation. We contemplate what gives us purpose,” says Ganusauskaite.
Seeking More Flexibility:
“This is the time when people might quit their jobs and venture into new endeavors. They could, for example, open a flower shop, relocate to become a teacher, or simply seek more flexibility in their lives. Individuals take their work into their own hands and explore opportunities they might not have had earlier in life,” says Ganusauskaite.
“C-level executives don’t often prioritize increased income. Their focus is typically on the long-term payoff for their efforts and energy. While long-term goals may involve financial gains, they aren’t typically motivated to change their workplace solely for a higher salary,” explains Ganusauskaite.
Where to go next?
“The first thing you need to do, before hopping into a new train, is to ask yourself — am I happy?” shares Ganusauskaite.
As mentioned earlier, aging might not have a significant effect on productivity, and most studies even indicate that older workers can experience increased productivity and make fewer mistakes.
This can prompt people to seek out new challenges that put their skills and efficiency to the test. Even if it may seem like they’ve already seen and done it all, there’s always something more or different to explore in their careers.
Here are some options for established professionals looking to take a leap:
Become a CEO of a different company: You can explore a new niche or pursue something that has piqued your interest for a while. Leading in a different industry can be a completely different experience, and your existing experience and expertise will be invaluable.
Open your own physical business: Later in life, when you already have financial stability, taking the leap becomes more comfortable. Opening a new cafe, flower shop, or gym might be what will make you feel accomplished.
Start an online business: The digital world is full of entrepreneurship offerings, from launching your e-commerce store to creating a digital product and engaging in online marketing.
Become a co-founder: With your skills and knowledge, founding a physical or digital product can be a great idea. However, you can make the process easier by joining a Co-found Program like the one offered by Kilo Health. As a co-founder, you’re allowing questions about investment, team, and resources to be handled more effectively. This approach offers greater flexibility and stability.
Teach and mentor: Share your wealth of knowledge and experience with the next generation. Becoming an educator or mentor can be an incredibly rewarding path, allowing you to shape young minds and contribute to their growth.
Be an intern or a volunteer: If financial gain isn’t your goal and instead you’re seeking a new experience, a way to make an impact, or perhaps even learn something new, you can always become a helping hand — whether it’s rescuing turtles, taking care of people, rebuilding a mansion, or anything else that pops to mind, even later in life.
“In the end, irrespective of your age or how far you’ve progressed in your career, we all desire an opportunity to grow. And growth can manifest differently for everyone—whether it’s a change in sphere, quitting your job to teach, or joining a Co-found Program,” concludes Aurelija Ganusauskaite, Learning and Development Manager at Kilo Health.
Source : Kilo Health