Legacy creation. Values alignment. Giving back. These rise in importance for workers later in their careers, often after spending decades deferring them. By the time we hit our 50s and 60s (and sometimes beyond), most of us still want to be engaged in work but want to be aligned with what we care about.
That late-career moment can be navigated in a number of ways, ranging from doubling down on the current career to exiting work completely. But an alternate path is offered by a program I love: Encore Fellowships. Encore describes itself as “an innovation hub tapping the talent of people 50+ as a force for good.” Its fellowship program matches participants with a social enterprise or nonprofit in need of their particular experience. Imagine how valuable your experience in tech–whether as a developer or a marketer–can be to a nonprofit!
As an Encore Fellow, you have the opportunity to explore more meaningful work during what you could describe as your “second act.” After being matched, you commit to working 1000 hours at the nonprofit, which can occur over six months or one year. In turn, you receive a stipend of up to $25,000. If after the commitment ends, you find the relationship mutually beneficial, the nonprofit may extend the opportunity for full-time employment.
I love this idea because it works on both sides of the value marketplace. The employee has the opportunity to explorer a new path and give back, risk-free, while the social enterprise has the opportunity to acquire top talent without the cost.
This model is perfect for those who are exiting their career but are not ready to retire. So many of my friends are in this position, and while some are reinventing themselves with new careers that they are throwing themselves into full throttle, others are reluctant to commit 100% to something new. For the 50+ demographic, the part-time commitment can be especially attractive.
The opportunity to work on a project that helps others is an especially appealing lever, too. For many in their 50s and 60s, this is a time of life when family responsibilities may be loosening, offering an opening for giving back.
However, finding new opportunities can be daunting–even in the nonprofit sector. Encore’s program is especially appealing because they do most of the legwork for you. (One caveat: The matching process may be lengthy, depending on the availability of host organizations.)
Candidates apply (no charge) in their geographic area (these include seven states and 23 municipal areas), and when a potential match is made, both sides interview each other to determine whether it would be a fit.
A recent example of an Encore Fellow placement is Russell Abbott. He retired from his Wall Street hedge fund career and was placed with a Brooklyn, NY nonprofit called Extreme Kids and Crew, a community center for kids with disabilities and their families. Another placement was in the Bay Area, where supply chain expert and former HP employee Patrick Guerra was matched with Second Harvest Food Bank when they transitioned from canned goods and pasta to fresh foods.
What experience can you put to valuable use in a social enterprise? Care to find out? You can learn more and apply to be an Encore fellow here!