Professionals are downshifting careers

Climbing the corporate ladder takes time, devotion and ambition. After reaching the top, some professionals choose to change directions in a phenomenon called "downshifting."

A 2009 publication from the AARP Public Policy Institute noted that many older workers, as they approach retirement age, are looking to trade in a higher-paying, demanding job for one with more flexibility, less responsibility and lower pay. A study by the University of Michigan for the National Institute on Aging's Health and Retirement Study found 28.8 percent of males and 24.3 percent of females ages 51 to 55 changed careers after age 50.

In the current economy, this downshifting or career reassessment can be difficult to come by. That's because there are many other job-seekers who are interested in any position they can get and will be vying for the lower-paying jobs that some downshifters may also be seeking. In addition, some firms won't consider applicants whom they deem overqualified. Some human resources departments and recruiters simply overlook high-qualified applicants because they may assume the skill level also comes with a need for a high salary -- even if this is not the case.

There are others who are willing to take the gamble on a well-qualified applicant. They realize that this opportunity may not come again if the market rebounds.

Those who are looking to downshift may have to change the ways they market themselves. It may not entail listing your most notable achievements on your resume, but rather selling yourself a little short. Here are some tips you can employ if you're looking to scale back your job and responsibilities.

* Apply at smaller companies that may not have the staff or resources to promote from within just yet. There's a good chance your experience and leadership abilities will be prized in such a company.

* Play up your assets, not the positions you have held, on resumes.

* Be honest in your cover letter, letting hiring managers know you are serious about taking a step back in rank.

* Consider freelancing or consulting if you're having trouble finding a full-time gig. Freelancing lets you set your own hours and pace.

* Find out if you can downshift in your current company. Some employers will be anxious to keep a good worker and see the benefit in paying a lower salary.

Not everyone is interested in moving up the corporate ladder. Certain individuals are looking to downsize their jobs to gain more flexibility for family, hobbies and other pursuits.