Paul McCartney never sings anymore is “When
I’m 64”. That’s the one with the lines: “Will you
still need me, will you still feed me when I’m 64?”As he approaches his 70th birthday, it seems
pretty obvious that the recently remarried and sprightly
ex-Beatle has few concerns regarding the former. And
with personal wealth in excess of £500m,where the next
meal will come from can be no real concern either.
Of course, 64 used to be the age around which most
executives retired, but managers nowadays concede that
they will have to workinto their late 60s, and possibly
until they are 70. Just what they will do, and how they
will do it, is proving increasingly perplexing, however.
Of course, if it just meant tagging a couple ofextra
years on to the end of an illustrious career, that
would be fine. But these days younger
and younger managers are making
it to board level, and as career
advancement accelerates, so too
Not only will we all have
to work longer, but the
speed at which the nature
of our jobs change is
increasing. As career consultants
like to impress on
us, many of theindustries
graduates are moving
into today did not exist 20
years ago – hedge funds,
areas of biotech and healthcare
and, of course, anything
that involves the internet.
It is also likely that thepace
of change will accelerate. Ten years
from now there will be jobs that we
cannot even imagine at the moment.
So what does this mean for today’s managers
approaching their 50th birthdays? Withcorporate and
state pension pots depleted in most developed countries,
early retirement, it seems, is no longer an option. Instead
these managers face another 20 years of work, possibly
in a verydifferent job to the one they do today.
Just as important, how will employers deal with these
issues, or with reskilling their workforce?
The obvious answer has to be some kind of executive