Remunerated activity

Reasons for doing so – why? Continued use of skills / experience Being active / engaged Own business Additional remuneration –to cover costs of Further Education for children / imminent wedding? –to tide me (us) over until State Pension becomes payable? –required beyond State Pension Age ?

Reasons for working on… Social interaction (over 40%) Pay off debts including mortgage(38%) Continued support for their family (23%) Fear of becoming bored (22%) Source: Birmingham Midshires report 2007

Remunerated activity How much income do you want to generate and over what timescale? –This pre-supposes a ‘stock take’ of your current income and expenditure needs over the immediate future (say 1 – 5 years) How much time and effort are you prepared to put in? What does your spouse /partner have to say about your plans?

Nature of the activity Nature of the activity:- –Seasonal –Fixed period of time during week / month/ year –Employed part-time or full-time portfolio –Self- employed (IR35 requirements) –Partnership –Own company

Remunerated activity What is it that you will do? –Utilisation of existing /new skills? Why should anyone else buy your idea / proposal/ you? Testing its viability –Have you researched your market? –Your competition –Your competitive advantage / USP- what value do you offer? –Potential sales revenue and how long will it take to ‘bring in’? –What investment is required (time and money) and what else could you achieve by doing something different?

Personal growth / development To manage your own personal growth and learning follow the following process –Step 1 : Review your skills by completing a Self Assessment –Step 2 : Identify your development needs and review your Learning Options –Step 3 : Draw up a Personal Development Plan and take action –Step 4 : Capture your learning in your Personal Learning Log

Transferable Skills

Shelf life of skills According to the National Audit Office skills have a shelf life of 3-5 years

Remunerated activity What are your personal strengths / weaknesses? –Idea creation –Marketing –Delivery –Ongoing service –Administration –Management of customer / supplier relationships –Credit control

Remunerated activity- business Points to consider:- –Business and marketing plans –Contingency plans –Adequate working capital –Appropriate IT (broadband line, website etc) –Management of expenses / income –Problem solving –Appropriate insurance cover –Tax and NI (‘Small earnings exception’)

Remunerated activity Points to consider:- –VAT registration –Terms of business –Working capital –Key success criteria? –Exit strategy? –Legal structure –Way in which you extract income / capital from the business?

Employability over 50 Future proof your skills ‘Retraining is key to remaining in employment. It is predominantly down to individuals to keep their skills up to date, particularly new technology, as the business world changes.’ Seek careers advice and explore career opportunities Take advantage of Jobcentre Plus and the New Deal 50 plus scheme City & Guilds report ‘Working in the Third Age- March 2005’

Employability over 50 Open yourself up to new experiences or opportunities Broaden your horizons. Consider setting up your own business and Business Link is a good source of advice and help Demonstrate commitment Organisations want individuals who are committed and dedicated to lifelong learning City & Guilds report ‘Working in the Third Age- March 2005’

The process Vacancy arises Vacancy filled Internal search External search Odds?

Achievements Challenge Action Result

Your CV Marketing document Advertisement 30 seconds to sell yourself

CV Styles Chronological Continuing in the same function and industry Career shows steady growth and development Functional Career change Emphasise transferable skills

CV Best Practice DO INCLUDE Profile Experience and achievements Technical skills Education & qualifications Memberships Training courses Interests Personal information DON’T INCLUDE Curriculum Vitae Salary References Reason for leaving Race or nationality Political affiliation Early schooling Months of employment

Profile Be specific 4-5 Lines Include function / level of responsibility Specific experience Achievement

Networking Friend s Relatives Neighbours Acquaintances Work Clients Bank Managers Insurance Agents Professionals Suppliers Bosses Schools Colleges Clubs Who do you know? Trade Associations

Communicating and other points Your opening statement (your pitch) Your strengths / weaknesses –analysis What do you like / dislike? Use of closed and open ended questions Benefits to them not features –‘Which means that’ Gaining the ‘yes: yes’ Trial close

Communicating and other points ‘Play back the music’ Empathy Show interest / passion What clues is the other person giving? You don’t lose where others have lost out Obstacles –Overcoming ageism –Offer they cannot refuse –Voluntary route?

Useful websites - creating a CV and covering letterwww.monster.co.uk - search joblist or register. CV and letter to employers come to you - job location search by town - job search by type and location – details of how to applywww.stepstone.co.uk – the national jobs and learning websitewww.worktrain.gov.uk