Word: markway
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...years ago, Bob Markway retired. Or so he thought. After joining Shell's exploration and production unit in 1973, Markway had climbed the ranks to manage its deepwater operations in the Gulf of Mexico. He had reached an age and accumulated enough years of service to sail off into the sunset with a good pension. Both kids' college tuitions and one of their weddings were out of the way; his 46-ft. sailboat, the Sazerac, beckoned. But then Hurricane Katrina walloped his house two blocks from Lake Pontchartrain, and his plans for a clean break from his career shifted. "Suddenly...
...What Markway is experiencing is a new kind of American career stage: the not-quite-retirement. As life spans lengthen, pensions tighten and workplace rules change, hopping from full-time work to full-time leisure is appearing less realistic and, to some, less desirable. The trend has given rise to a new category of employment, the so-called bridge job. Economists use this term to describe part-time or full-time jobs typically held for less than 10 years following full-time careers. According to a 2005 working paper from the Center on Aging and Work at Boston College...
Meanwhile, the companies that are finding ways to hang on to their older workers benefit from an intangible, perhaps undervalued commodity: wisdom. At Shell, Markway is creating a strategy for updated safety standards gleaned from his decades of experience. "With the demographic cliff we're facing, it's doubly important for us to pass on our collective knowledge to the young guys coming up," he says. "At this rate, I figure I'll work another few years." Full-time sailing will have to wait...
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