The UMAC Difference
We have before us a tremendous opportunity to redeploy the skills and experience of encore adults for the greater good.
Boomers (born 1946-64) are leaving their career jobs at the rate of 10,000 a day, and GenXers are close behind. Some are recareering at midlife to better align with priorities at this stage of life. Others seek alternatives to outdated models of retirement. For the majority of encore adults, work in some capacity is an expectation, preference and need.
UMAC can serve as a bridge to social impact work for encore adults, whether paid or volunteer. Nonprofits and social enterprises benefit from tapping into the skills of this population to expand capacity and deepen impact in addressing our community’s pressing needs.
Here are some examples of partners that have hosted UMAC fellows.
Encore adults bring relevant experience in key areas such as marketing, IT, HR, operations, and management. Over their careers, they developed people skills, organizational management, project leadership, and relational skills that are needed in the nonprofit sector.
UMAC connects the dots between nonprofit organizations, social enterprises, and public institutions, helping them strategically tap talent to expand capacity and deepen impact in addressing our community’s pressing needs.
As they deepen their understanding of their host organization’s mission, purpose, and impact, encore adults may also form lasting ties.
The aging workforce presents challenges and opportunities for corporations facing employee retirements and transitions in leadership. As they plan for transitions, employers need accurate projections and concrete plans around succession, knowledge transfer, recruitment, training, and mentoring next generation talent.
The urgency is real. By 2024, one out of every four workers will be 55 and older.
UMAC can help
University of Minnesota Advanced Careers (UMAC) guides late career professionals as they transition from career jobs into what's next. UMAC prepares leaders for new roles and identities, connects them with nonprofits to address community needs, and offers inroads to the richness of the University of Minnesota environment as corporate leaders explore their encores.
For corporations, UMAC offers benefits for workforce planning (exit runways, time for knowledge transfer, transitioning of responsibilities), investment in communities (adding talent to charitable giving efforts), employee relations (graceful exits for valued employees, reputation as a great place to work), recruitment of talent (building brand identity with high potential university students), and cutting edge research and scholarship (expanding knowledge and connections with researchers and thought leaders at a leading university).
UMAC builds on research findings of Minnesota employers and their approaches to engaging an aging workforce (Moen, Kojola and Schaefers, 2017).