Shortage Solutions 8: Retirement

The document that alerted us to an impending shortage was the 2013 Ducker Report. In there, it told us that in about 20 years from then, a very large percentage of reporters would be retiring. Off the top of my head, I think it was as high as 70 percent, but you’re free to read it. That point is about 10 to 14 years from today.

Obviously, this brings great opportunity, because if supply can’t meet demand, the price for the service should rise. In many markets, it has risen, especially where reporters have pushed to be paid more. Some reporters are getting out there and grabbing their own private clients because it’s a seller’s market. In response to the shortage, the field had a great many recruitment ideas including A to Z, Project Steno, Open Steno, and many schools got online to reach a larger pool of students.

A big issue for us has been if enough jobs go completely uncovered, there are interests in the market ready to jump on that and say we don’t need stenography. We can use digital recording. We can use AI transcription. We can use whatever. Veritext, from my perspective, led this charge. Notably, they’re also putting money into stenographic initiatives, but this seems to be a clear case of hedging bets in case our commitment to what we do beats the money being poured into our replacement.

So here’s where we stand: We have a large group of people slated to retire. Do we tell them not to retire? No chance. But we can collectively start spreading the word that the retired are valuable. We had this push maybe a year ago in New York. Our Association, NYSCRA, didn’t give retired reporters or educators power. Not because of any ill will or resentment, but because of a simple bylaws issue. As luck had it, who had the most time to take part in and help shape up ideas? The educators and retired! So we took a stand and voted to give them equal voting power and right to be on the board.

Let’s face facts. If we are working 9 to 6 and then going home to transcribe for an hour, it leaves us very little time to advocate for this field. We may not be able to financially take time away from work or training to be a recruiter or voice in support of this field. We may not be able to advocate for others or mentor students. It’s a great time to consider forming programs and workshops for the retired who want to remain in the field as advocates. Look at the lobbying industry. Somebody works in a field for 30 years, a private interest or association grabs them up, and then they are the spokesperson who goes out and educates politicians on the issue — sometimes for big money.

If you’re retired, if you’re about to retire, or if you know someone about to retire, and especially if you’re somewhat of an altruist, you’ve got a chance to make a difference. Anything from a kind word to a student to full-blown involvement on a board or in a professional management corporation can change outcomes. As a matter of fact, a lot of these large corporations keep veteran stenographers at the head of their court reporting programs. Even traditionally transcription-oriented companies, like Escribers, had a stenographer in management. There’s no reason why the retired can’t, if they are so inclined, put down the machine, pick up the phone, and continue to make money from this field, for this field, and grow it in a way that keeps the career bridge they just crossed standing firm.