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 Officeskills 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 processVacancy arises

Vacancy filled

Internal search

Exte

rnal se

ar c

h

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 PracticeDO 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

Friends

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

• www.monster.co.uk - creating a CV and covering letter

• www.stepstone.co.uk - search joblist or register. CV and letter to employers come to youwww.fish4.co.uk - job location search by townwww.jobcentreplus.gov.uk - job search by type and location – details of how to apply

• www.worktrain.gov.uk – the national jobs and learning website