In today’s increasingly volatile economic climate, businesses—especially those in insurance—are growing more cautious about spending. With inflation raising claims costs and stock market turbulence adding further uncertainty, companies should expect premium prices across all lines of business to include a heavy surcharge for this unpredictability. Achieving company goals will become harder as expense controls tighten. A slowdown in hiring isn’t just likely—it’s inevitable.

Yet there is a solution hiding in plain sight: the untapped, experienced, deeply knowledgeable population of retirees.

During COVID, the workforce experienced the “Great Resignation,” a mass exodus of workers, particularly those aged 55 and older. Many left industries like insurance for good, feeling financially secure or simply unwilling to return to long commutes and rigid office schedules. Now, we’re seeing that movement again: the beginning of the “Silver Tsunami”—a tidal wave of retirements reshaping the labor force and leaving companies struggling to replace decades of accumulated knowledge and expertise.

Unfortunately, in many cases, these retirees don’t just leave the workforce—they check out entirely.

The problem with checking out is that people are wired to work. Even God worked for six days and only rested on the seventh. If you retire at 55, you’re potentially facing a 30-year vacation. Despite the glossy allure of endless leisure, day after day of golf and pickleball, studies show that retirement can negatively impact mental health. The year after retirement is among the most dangerous of a person’s life—second only to the year of their birth. Rates of depression, loneliness, and even mortality increase sharply post-retirement, particularly among men.

The good news is that many retirees want to work again. A 2022 T. Rowe Price study found that 20% of retirees are employed either full-time or part-time, and another 7% are actively seeking work. Meanwhile, a National Institutes of Health study showed that nearly half of all retirees follow a nontraditional path—choosing partial retirement or “unretirement” to maintain structure, financial stability, and social connection.

In fact, today’s 60-year-olds aren’t what they used to be. They’re tech-savvy, health-conscious, and highly educated. They exercise, eat well, and maintain active lifestyles. Many have the same or better education levels as their younger colleagues. In many ways, the modern 60-year-old resembles today’s 30-year-old more than yesterday’s 60-year-old. Importantly, they also have something that can’t be taught: experience. Older workers have lived through hard markets, soft markets, financial crises, regulatory upheavals—you name it. They bring critical soft skills, professional networks, resilience, and problem-solving abilities that younger employees have yet to fully develop.

Companies should be jumping at the chance to hire retirees—because doing so is a win-win. For employers, retirees can fill roles on a project basis and hit the ground running with no training wheels, offering expertise without the overhead. No need for costly benefits packages, 401(k) matches, or full-time salaries. Hiring retirees for flexible, part-time, or consulting roles gives companies access to incredible talent without the burden of a full-time commitment.

There’s also a strong case to be made for retirees as mentors. They can help onboard new employees, teach critical thinking skills, and guide teams through complex, volatile markets. Their experience becomes a strategic asset that strengthens the entire organization.

This shift toward “unretirement” is exciting for companies and retirees alike. Organizations that embrace it will find themselves with a deep bench of talent, ready to jump in with wisdom, efficiency, and real-world experience. And retirees, eager to contribute, will find new purpose and community.

Platforms like UnRetire make it easier than ever for companies to tap into this incredible resource. By posting a project, companies can quickly connect with highly skilled retirees ready to help. It’s a smarter, more agile way to build the workforce of the future.

At a time when uncertainty looms large, hiring retirees isn’t just a good idea—it’s a strategic advantage. It’s time for companies to rethink retirement, recognize the immense value older workers bring, and welcome them back into the fold.

The knowledge, character, and resilience of retirees aren’t relics of the past. They’re the assets we need for the future. Smart companies will be the ones that recognize this—and act on it.