With contract jobs, retirement can be a beginning of a new career for retired professionals, as they can work on their own terms and reshape their lives that may bring them great joy and satisfaction.
These jobs could be a good regular source of income for them and they don't have to compromise on their family time that definitely remains the most precious commodity after retirement.
Contract jobs create a custom fit and help to drive the goal of having more 'me' time or family time. The benefit of flexibility also suits many retired professionals as they are able to work for selected periods of time and take time between contracts. Such a flexible work arrangement offers them better work-life balance.
In more challenging economic times, many companies freeze on permanent headcount. Even if that's not the case, a lot many private companies have begun hiring retired professionals as consultants on a contractual basis to fill high-level positions that demand years of experience.
Contract jobs save companies cost, time and money to search for and train new employees thereby leading to a paradigm shift in human resource management. While offering contract jobs, employers are generally considerate of the consultants' needs and offer adequate variable and fixed bonuses, benefits for family and other allowances thereby making a contract job competitive.
Contract jobs help you break away the long monotony created by routine work and offer a great deal of variety as consultants work for different companies. Moreover, retired professionals do not have to deal with the anxiety to build a business over the long-term and grow professionally with the company. This is why contract jobs make more sense for them.