Posted on Nov 6, 2007

Joseph Scalice is risking his financial security on retirees, and as a former financial planner, he is pretty much wired to be risk-averse. But some numbers, says the man who most recently worked at a financial consultancy in Princeton, add up too nicely to be ignored. With many of the 78 million baby boomers -- those generally non-saving but hardworking folks born between 1946 and 1964 -- set to retire in the next decade or so, Scalice decided to ditch financial planning to launch RetireeWorkforce.com, a site similar to monster.com or CareerBuilder.com that caters exclusively to employers seeking to hire retirees. "It's risk-reward, with very little security,'' he says of starting a business. "It's all you.'' But with several measures, like one from Merrill Lynch & Co. and another from AARP showing that as many as 85 percent of boomers plan to work for either financial or personal reasons, Scalice says the risk is worth taking. “All one has to do is analyze the numbers,” says Scalice, whose business is based in Holmdel, NJ. “Nearly 85% of the 78 million baby boomers that will retire say they will remain in the workforce in some capacity. These individuals are experienced, motivated and loyal, three attributes very attractive to employers. RetireeWorkforce.com provides a way for these individuals to connect with employers that need their experience.” Employers, he says, will pay for the retiree job search service to help them fill gaps in the workforce. The idea is supported by data, including a recent Conference Board report that said "Failure to investigate or recognize the issues surrounding the maturing workforce will pose a threat to future growth and productivity.'' Scalice recently discussed how his job site works. Q. When did the business launch? We've been in business for about a year but we officially launched the site in May 2007. Q. How does the site work? Employers seeking more mature workers will post their open job positions to RetireeWorkforce.com. Candidates will then search for positions of interest, create an account and apply. Candidates can search using different criteria such as zip code radius,position type and specific keywords. Q. What is the cost to these mature job seekers? It's completely free for the candidates. They just fill out a form, post their resume and apply. There's never any cost to them. Q. How do you make money? Cost comes in on the employer side, to post jobs, advertise, search resumes. ... There's a price range for them. A job posting is $65 for 30 days. We also offer a turnkey product whereby RetireeWorkforce.com will automatically pull and update an employers jobs from their site. Q. Is the site industry-specific? No. We look for employers across all industries that have a need for part-time and seasonal employees. Companies are just now beginning to realize the advantages of mature workers, namely reliability and loyalty. Q. Any examples? CVS Pharmacy and Staples, companies that know these people aren't necessarily looking to work for 60 hours a week, but maybe 20. In fact, CVS has instituted a Snowbird program whereby older workers can relocate to other stores if they split their winters and summers in different geographic locations. There are a lot of companies looking for people who can work just 20 hours and do so by telecommuting, working from home. Q. Is this going to be worth the risk? Absolutely. The baby boomers demographic is so large and sophisticated. Employers cannot ignore the labor force crisis and the value these individuals will bring to their organizations. At Work appears Tuesdays. E-mail: harrington@northjersey.com