“The old model of getting into your early career, preparing for a promotion, moving on to mid-career, preparing for retirement and then retiring, no longer applies.” – Lisa Taylor, founder and CEO of Challenge Factory
The most recent Blueprint Career Services Real Talk presentation, “How to Progress Your Career After Age 55” was a lively, engaging webinar featuring Lisa Taylor, founder and CEO of Challenge Factory.
In addition to offering practical tools to help people over 55 progress in their careers, Taylor delved into how the timelines of those careers have changed in recent years and how we may need to shift our perspectives to take advantage of new opportunities these changes present.
When retirement at age 65 was introduced in the 1930s, the average life expectancy was only 62. Today, while life expectancy has extended to 83 years, our approach to working life remains rooted in outdated models that no longer align with modern realities. As Taylor explained, “In a single generation, we have gained 20 years of productivity. That means the old model of getting into your early career, preparing for a promotion, moving on to mid-career, preparing for retirement and then retiring, no longer applies.”
Taylor shared a new three-stage career model that reflects the opportunities and challenges of longer lives and evolving labour markets:
1. Foundational Career: This is the stage most of us are familiar with, where we begin learning, gaining skills, and building our initial professional paths.
2. Mid-Career Transition: Here, individuals rethink their careers and pivot with purpose, often exploring portfolio careers or multiple roles to suit changing interests and labour market demands.
3. Legacy Career®: Around age 50, many enter this phase – a completely new life stage where accumulated wisdom, skills, and interests are applied in fresh, meaningful ways.
Taylor noted that the Legacy Career® is now the longest phase of our working lives. She encouraged webinar participants to embrace this shift, explaining, “What I want you to understand is it doesn’t mean you need to keep doing what you’ve been doing for longer. It means that you have enough time to stop, reflect, consider who you are today, learn something new, and transition with purpose.”
Preparing for your own career transition? Visit our Blueprint Career Services page to find out how we can help you navigate through any stage in your career.