Jim, What am I Doing Wrong? IS Professionals in the New Normal

As I write this post it is a balmy 72 degrees with clear skies over Tampa Bay.  Yes, life is good.  I drove down yesterday to meet with my protégé as a part of the USF College of Business Mentor Program.  Yesterday was down-time, so I caught up with friends and family.  It was an interesting afternoon and evening that perfectly framed the “new normal.” 

 
Upon arrival I enjoyed lunch, a few beers and a cigar with friends.  Shortly after the arrival of our beer and a brief toast, Mark asked; “Jim, what am I doing wrong?”  Mark spent 25 years with a global technology company, followed by 5 years with a local governmental body.  Now unemployed, he is seeking his next opportunity.  Mark is most adept at directing large teams, but not close enough to the actual technology.  He is finding it difficult to gain employment in the same line of work.  I reminded him again that those jobs don’t exist anymore and that he must explore other options.   My comment to Mark was clearly hyperbole, but not completely.  As in most recessions, employers have reconfigured their overhead to the chagrin of highly compensated executives.  This time around, technology has created more options for employers, particularly out-sourcing.  Everyone has heard about activity moving to “the cloud.”


Later that evening I had dinner with relatives.  Christopher, a recent honors graduate, is learning his new job.  He is literally on the front lines, using technology to help management make better decisions.   Christopher is making a good salary and has some excess funds to save and invest.  He had a lot of questions about investing, so we talked about 401ks, IRAs, and the benefits of mutual funds in general and index funds in particular.  We also talked a little about advancing his career skills.  He is like a sponge, soaking it all in.


His father has a good, middle-management job with a global professional services company.  He spoke about his relief to have passed a series of technical proficiency exams required by his employer.  He clearly understands the importance of staying current in his career, so he welcomed the training, even if it was a bit unnerving.   Interestingly, Mark, Christopher, and his father, are MIS/IT/IS professionals, and USF Alums.  I can hardly think of better examples of the current employment situation.


I am reminded of two IS Professionals I met recently through a referral.  Chris and Joe have backgrounds very similar to Mark but they decided to start a Consulting Group when they lost their jobs.   These guys have a very clear understanding of the new normal, taking a proactive approach to achieve their career goals.  They have developed a positioning strategy which they are diligently working to validate via client acquisition.  As with any start-up, they are having their ups and downs.  The key take-away is that Chris and Joe are in the game.  They are learning how to be relevant to the market, making adjustments on the fly.  I am confident that their abilities and tenacity will ensure their success.  I hope to be helpful to them in this connection.


If you are going to be in the game, (my metaphor for gainful employment) be in the game!   We live in a very competitive world which requires constant learning to find your niche and maintain a competitive edge.  The game has changed in the new normal.  You must adapt or plan to warm the bench.


Thank you for visiting my blog.
Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so please leave a comment.

Jim Weber, President
New Century Dynamics Executive Search
www.newcenturydynamics.com

2014 Was a Tough Year for Faith

2014 was a tough year for Faith.  Displaced from a Fortune 500 insurance company early in the year, Faith finally landed a great job before the Holidays.  Faith is not her real name, of course, but it fits her well.  Faith is in her mid-50’s, single, with an excellent image and a solid work history.  Admittedly, her last job was not a good fit to her profile.  She is excellent at building relationships and supporting customers so she is much better suited to the Account Executive job she eventually landed.  Faith is also the inspiration for many of my blog posts.  

I have known Faith for over ten years.  We are friends, and partners in a networking group.  She considers me a mentor and I consider her my go-to person for information on insurance matters.  She is a role model for anyone in transition.  Faith was not surprised to have lost her job.  Her employer had been through a lot of change and turmoil.   She took the news in stride and was totally professional on her exit.  She did not spend much time wallowing in self-pity, but got right to work.  The first step in her journey was to develop a job search strategy.

She spent a lot of time with friends and colleagues, listening to their thoughts and advice.   By the end of this process she came to understand that she was best suited to working with existing clients, building relationships that would keep them in the fold.  This revelation become the foundation for her job search strategy.  Since her entire career has been in the insurance industry, she focused on opportunities in that field.  The insurance industry has seen many changes, however, new opportunities are emerging.  Faith understood that she had many viable options.  Crafting the right strategy led to a very positive result.

This is not to say that it was smooth sailing for Faith.  It was a tough, grueling search.  There were many ups and downs.  Great opportunities came and went.  Prospective employers took their time moving from one step to the next.   In some cases, employers changed their thinking and canceled searches.  The length of time involved in her search was a constant source of frustration.  She knew she was doing all the right things.  She knew that she could not control the employer’s selection process.  That was what made it so frustrating.  Their timetable was beyond her control.  It is easy to say that you should not worry about that which you cannot control.  It is something else entirely to live it.   I am sure she got very tired of my reminder; “the employer does not work off your timetable.”

Faith’s coping skills were put to the test and then some.  But she is well grounded and stayed true to her plan.  She maintained a positive, optimistic attitude.  She made optimal use of her network, gaining strength from their support and encouragement.  Always enthusiastic about leading a healthy lifestyle, Faith maintained her exercise routine and diet.  She also pursued opportunities to take on short-term assignments to help supplement her cash flow needs.  She is a class-act and true professional.  She kept the faith.  Eventually it paid off.    The lesson is to begin with the right job search strategy then work your plan.   Stay focused, stay positive, and stay in the game.

  

Thank you for visiting my blog.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so please leave a comment.

Jim Weber, President

New Century Dynamics Executive Search

www.newcenturydynamics.com

Developing your Job Search Strategy: Specialists are the Rage

As I draft this post I am reminded of three current clients.  One is a small, growing enterprise trying to optimize its resources to aid in profitable development.  A second is an established manufacturer reorganizing itself for sale.  The third is a large company which has made a number of acquisitions that must be integrated into their core business.  Each of these businesses compete in diverse industry segments following different strategies to achieve their objectives.  As one would surmise the experiences they look for in potential hires is distinctive.   You can be certain, however, that the hiring managers in these companies are looking for senior executives with experience that matches their particular situation.  Call it situational experience.


 It occurs to me that this is a fair representation of the “new normal.”  The career opportunities are declining within large established companies.  Major corporations have learned to be more efficient with less.  They offer fewer opportunities for middle managers and highly compensated, over-50 aged candidates. However, the organizations currently looking for people are emerging companies or those working to find a relevant niche.    Emerging brands, PEG portfolio companies, established companies repositioning themselves and those experiencing major change are looking for people with experience that closely matches their situations.  These situations may be more risky but they can be very rewarding.   Private Equity Groups want C-level candidates who have experience working with PEGs.  If the employer is a start-up, they will be looking for people with start-up experience.  If they are preparing for an IPO they are looking for people with IPO experience, especially CFOs and controllers.  You get the point.  Today, employers are looking for specialists who can make an immediate impact.   They are looking for people with situational experience.  Generalist backgrounds are not in demand so much, especially for the 50+ age group.


There are three primary components to one’s career positioning strategy:  Job Function; industry segment; and your pay grade.  All of these components are fairly straight-forward.  Begin by evaluating your experience to understand where you have particular strengths and experience which can be packaged as a specialty.  Seriously, this task cannot be that difficult.  After all,  personal experience gained with LBOs, mergers and acquisitions, rightsizeings, and re-organizations are all great examples of situational experience.    Perhaps you have been involved in implementing new hardware and software solutions to automate processes.  Or you have been involved in re-engineering activities to help employers become more efficient.  Experience gained in involvement with a company turnaround can be invaluable..  Maybe you have been in a family-owned business or experienced an IPO. Maybe you have been involved in a successful Chapter 11 reorganization.  There are many employers today who face those same issues.  They are looking for you!


Hiring managers have become very particular in their requirements.  They seek industry-specific candidates with situational experience.   The key to a successful job search is to position yourself as a problem-solver who will assuage the hiring manager’s risk aversion.  The Over-50 job seeker must have a career story which speaks to high-value, specialized knowledge and experience.    The flexibility of today's word processing software allows you to create resume versions tailored to emphasize certain parts of your background, positioning you as a specialist.


Think about your career.  Find those common threads that you can position in a compelling way to fit the new normal.

Thank you for visiting my blog.
Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so please leave a comment.

Jim Weber, President
New Century Dynamics Executive Search
www.newcenturydynamics.com

Track Your Metrics For an Effective Job Search:

For the past 6 years, I have been working very closely with a number of Private Equity Groups, (PEG).  Many of my assignments for these clients have been for Chief Financial Officers.  In every case they want a CFO who can help the business by establishing a set of relevant performance indicators which can be tracked and monitored on a routine basis.  They know that by tracking the right metrics and keeping the management team focused on that data improves the likelihood of achieving their goals.  I am confident that while employed, your supervisor required you to make periodic reports on certain metrics.  If it works while on the job, it will surely work to help you land that next job.

Doubtless, we all agree on the importance of Planning.  We all know the planning cycle.  Set your Goals and Objectives; formulate strategies; develop tactics; track your results; reassess; make adjustments.     How will you know where you stand if you don’t have a scorecard?  Will you know if your plan is on track, or even if it is viable?  What adjustments should you make?  Are you comfortable making important decisions about your career without important data?  Probably not!

So, as you are developing your job search plan for 2015 consider the key metrics, performance indicators, that you believe are vital to success.  

Your prime objective is to land a new job.  Key to landing that new job is to gain the interest of hiring managers who will invite you to interview.  The metrics you will want to track are the activities you complete that move you closer to the goal, getting that interview.   Some jobs are posted, so it would make sense to track resumes sent to posted jobs.  As we all know, however, up to 80% of people land their new jobs via networking.  If that is the case, as I believe it to be, then you will want to develop a set of metrics that track you networking efforts.  Those efforts include phones calls, information interviews completed,  networking meetings attended, and follow up with your network.  Since social media is an important platform for job search you may well develop metrics to track your efforts on LinkedIn.  Contributions to Interest Group discussions and additions to your list of connections may be appropriate.

I have also recommended that you start a blog, if you have not already, with a goal of posting once a week.  This is a great strategy to promote yourself  at LinkedIn or Google+ Groups.  Additionally there are a vast array of Professional Associations and Groups who encourage members to post to their websites.  Everyone is looking for relevant content! 

You should also set goals for personal and professional development.   A diet or exercise metric may be appropriate.

Tracking a handful of key metrics related to your search activities will keep you on track.  Keep it simple.  Pick six to eight of the activities prioritized by those you deem most important.   If you need more than a 3 by 5 index card to track your metrics you probably have too many.

The best of plans are useless without accountability.   There can be no accountability without measurement.   So, if you want to ensure the success of your job search plans, identify the key metrics to track and do so regularly.

Thank you for visiting my blog.
Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so please leave a comment.

Jim Weber, President

New Century Dynamics Executive Search

www.newcenturydynamics.com