Self-Analysis is Very Specific to each Person Situational Analysis Shares some Common Themes 1 Assess Yourself and Your Situation
Self-ANalysis What Went Wrong? Make Sure You Know What You Want What Next? Transition Options? 2 Self Assessment
Personality tests Recommended Read: Type Talk at Work 3 Self-Analysis Self Assessment Websites on Internet
Information about yourself: Wants from a job: Values Skills Personality traits Interests What You Liked About Previous work experience, and include: Part time jobs Volunteer work Better pay Personal growth potential Location Company reputation Opportunity to drive change Entrepreneurial environnent Improved work/life balance Promotion/advancement Job security Better culture Industry growth Broaden skills Reporting relationship 4 Self-Analysis: Prioritize Your Needs
Analyze Yourself Against Skills Valued By Most Employers 5 Teamwork Problem solving Initiative Desire to learn new skills Interpersonal skills Independence Communication Oral and Written Effective or Persuasive? Flexibility Ask others in your Inner Circle for candid feedback
Don’t Worry, But Do Analyze Why are you “un”employed? What Went Wrong? 7
It Probably Wasn’t Your Fault 8 That doesn’t Mean You Can’t Influence in the Future or spot warning signs, or be better prepared Truth is: Job Transience is the Now the Norm Executives Can Be Short Of Loyalty To A Company Decision-maker Loyalty Gap can extend to employees “Employees Are Our Greatest Asset… Because They Are The Easiest To Liquidate” This Recession has been and Remains Severe
Job Transience Is Now the Norm 9 People changed employers every 3.4 years (Source: Bureau of Labor Stats. Of the U.S. Dept. of Labor) Average Job in America Lasts only 2.1 years (Dave Ramsey) Chart Data from ExecuNet
What Went Wrong? Field? Are you in a field that suits you? Your lifestyle? Is your field cyclical? Subject to downturn? Is your field simply in decline? What other fields interest you? Industry? Is your Industry cyclical? In decline? Moving overseas? Morphing into something else? Do you want to follow? Leave? What sectors, or sister industries are doing better and would value your experience? Company? Was your company too big, too small, too rigid, too greedy, too bureaucratic? What was right and wrong about the culture? Boss? Would you welcome the opportunity to work for this person again? Why or why not? What characteristics should you be looking for in your next boss? 10
Switching Industries 13 According to ExecuNet's2009 Executive Job Market Intelligence Report Corporate HR Departments in 2003 reported hiring 14.5% from outside their industry, and that number grew to 21.3% by 2008. The same report indicated Search Firms only placed 12.1% in a new industry. Conclusions: Better to contact companies directly if seeking to switch industries than to go through a Search Firm Opportunity to switch industry is improving Best to look into growing Industries – What are they?
Many People Use the Phrase “In Transition” when they are actually just unemployed You are not “In Transition” until you are In School, Volunteering, Working Temporary, Working Part-Time, or Working Full-Time in a job that is undersized for your skills Transition Options 16
Why Do Anything But Look for a New Job? Don’t I Deserve Time Off? Some Job Hunters React as if Job Hunting should be a full time + effort, so why do anything else? It’s better to: Avoid Job Search Burnout NO! Some Job Hunters find every excuse to procrastinate – you need a steady, balanced approach. Filling Your Time with other activities Can generate New Job Leads, Can keep you Sharp, and Looks better on your resume (especially the next time you are looking) 17 Avoid the Extremes
Transition Options Temporary Fulltime Work Sub-Consulting / Contracting Part-time Work Sub-Consulting / Contracting Training Others / Teaching Courses Improve Credentials (Severance Funding?) Continuing Ed / Certifications / University Courses (Speeds Unemployment Insurance in NC) Volunteer Can become a problem if you need the money Full-time Undersized Job Hazard: Can become a rut, demoralize, not look good on your resume Benefit: Can be a launch pad to something better, provide insights to other opportunities, and is usually better on your resume than a blank 18
Temporary Work 19 If you are looking for a full-time job but are having trouble finding one, consider temporary work. In addition to providing you with an income while you search for permanent employment, “temping” or “sub-consulting” can help you: Gain work experience in a variety of environments; Develop or enhance your skills; and Explore career fields.
Age Bias is Real, But Deal with It 20 44 percent of senior-level executives surveyed by ExecuNet were in strong agreement that their age will affect their ability to land their next position — up from 33 percent last year Despite increased awareness and federal protection, charges of age bias have escalated. In fiscal year 2008, the US Equal Employment Opportunity Commission logged more than 24,000 charges of age discrimination and recovered $82.8 million in monetary benefits. That’s a sharp increase over the previous year’s 19,103 charges and $66.8 million recovery. www.ExecuNet.com Survey
Consulting for the Over-50 Group 21 If you're in career transition and over 50, consider a solo- or sub-consulting role. Such work can serve as a confidence-booster as you further expand your skills and knowledge, and enable you to make valuable network connections that can help you find your next permanent positionSub- or Solo-Consulting can be a great response to the question, 'What have you been doing?', and it can lead to an enhanced skill set and more confidence.While the rewards can be far-reaching, you need appropriate skills to be a successful consultant. Consulting requires good listening and communication, openness, excellent problem-solving, tolerance for ambiguity and high cognitive complexity. You should be realistic about whether you have the requisite skills.
Part-Time/ Temporary Jobs 22 Part-time or temporary jobs can help you while you are seeking full time employment. These jobs are stop-gaps in that you have no intention of remaining in them for an extended period of time. The Optimumpart-time or temporary jobs can offer: Adequate income on a regular basis to help you to financially; Near immediate entry and exit from it (So you can take that better Full-time opportunity when it comes); Moderate demand on your working time so that you can continue to explore a permanent career area; and Afford you continual contact with a wide variety of people so that you can make contacts during your work time that might be helpful in your career exploration.
Examples of Part-time/ Temporary Jobs 23 Advertising space salesperson Bartender Cab/bus/train driver Call Center Census taker Comparison shopper Domestic / house cleaner Employment agency interviewer Golf caddie Handyman Mail carrier Marketing research interviewer Museum guard Of Counsel Opinion poll interviewer Painter Photographer’s assistant Receptionist Recruiter Retail store clerk Security guard Short order cook Sub-Consultant Temporary office worker Trainer / Instructor Travel agent Waitress/waiter Webmaster / Website Designer
Temporary Service Firms 24 Finding the Right Temp Firm: Does the firm offer any individualized training programs? Does the firm perform adequate screening tests? Will the coordinator place you in jobs that meet your needs? Investigate the Firm’s Reputation Get recommendations from the current “temps” as well as from client companies. Don’t Assume there are no Temp Firms in your specialty Don’t Assume Temp firms only deal with non-exempt level positions
Go Back to School? 25 Can help a change in function, field, or career direction – not as needed for an industry change Think about professional continuing education and certification programs Consider online and night school options so that you can quickly return to work without interrupting classes
Volunteering 26 Think about organizations that can use your skills Non-profits Education Government Agencies
Are You Still on the Payroll? Have You Been Offered Severance? What Are Your Financial Realities? 27 Assess Your Situation
Top Reasons For Dissatisfaction 30 1. Limited advancement opportunities 2. Lack of challenge/personal growth 3. Compensation 4. Stress level 4. (tied) Job security While stress and job security concerns are mounting, boredom and a shortage of opportunities for advancement remain key drivers of voluntary turnover
What do Employees Need to be Happy? 31 The need for trust. Expecting the company and management to deliver on its promises, to be honest and open in all communication with you, to invest in you, to treat you fairly and to compensate you in a fair and timely manner. The need to have hope. Believing you will be able to grow, develop your skills and have the opportunity for advancement or career progress. The need to feel a sense of worth. Feeling confident that if you work hard, do your best, demonstrate commitment and make meaningful contributions, you will be recognized and rewarded accordingly. The need to feel competent. Expecting you will be matched to a job that aligns with your talents and your desire for a challenge.
Goal is to Get Happy, But Be Careful 33 Happy in the same job Happy in the same company, new job Happy in a new company
Happy in the Same Job 34 Keep a To Do List – Scratching off accomplished tasks is a positive feeling Find the Humor – See the funny side of situations (but don’t get sarcastic) Just say no - Eliminate activities that aren't necessary and that you don't enjoy Listen to music while you work - Respectfully Avoid unproductive meetings Find and Work on something you're passionate about Pursue Personal Development Goals Learn New Skills (Prepare for a New Job) Meet New People (Network)
Happy in the Same Company, New Job 35 Ask for more responsibility Take More Responsibility: Work Comes to Those Who Do It Build Your Internal Company Network
While You’re Still on the Payroll 2nd Mortgage / Credit Line Credit Union Tuition Benefits Health Benefits Medical / Child Care Spending Accounts Professional Certifications / Continuing Ed Network / Contacts 37
Prep Before Make sure resume / LinkedIn profile is updated and current. Talk to co-workers and colleagues before you leave for their contact information. Talk to vendors / customers / contacts outside the company for their contact information. Don’t download confidential business information If you won’t be taking your computer or cell phone with you, get the numbers out well in advance. 38
Things You Should Consider If You Have Been Offered Severance 39
If You’ve Been Offered Severance Over 40? – Employers are Legally Required to Give You 21 days to Review Agreements Negotiate Terms Wrongful Termination? Incompetent Boss or Management is not grounds for claiming Wrongful Termination Letting You Go for No Reason is not grounds for claiming Wrongful Termination Harassing you about things related to the job is not grounds for claiming Wrongful Termination Retaliation Racial, Religious, or Sexual Harassment Age? Military Service? Family Medical Leave? 40
USERRAUniformed Services Employment and Reemployment Rights Act Prevents Veterans from being discriminated against as a result of military service Administered by the U.S. Dept of Labor, Veterans Employment & Training Service (VETS) For further information/assistance, http://www.dol.gov/vets/programs/userra or call: 860-263-6490 41
Negotiate Recognize that Employers have No Requirement to Pay ANY Severance Recognize that your best time to Negotiate is as close to notice of termination as possible Money is not the only thing on the table Consider value to You versus Cost to Company Outplacement? Timing of Severance Payments / Tax Year Issues Severance up to $35K can be NC Income Tax Free Office Use? Keep Phone / Blackberry / Laptop / Phone Number? Contingent Additional Severance Continuing Education / Classes? 42
Most of us work for the money and when the work stops the spending must be managed more closely Financial Reality Check 43
Invest – Don’t Consume Change Your Behavior Quickly – It’s Easy Changing Your Family’s Behavior May Be More Difficult Stop Eating Out Except lunch or coffee for Networking – and learn to Eat Cheap – (Water is free and better for you) Reduce and Delay Spending Where Possible Budget – Plan Your Spending Focus on Improving What You Can Control – Don’t Worry about What Can’t be Changed Accept Charity with Grace 44
Health Benefits Maintaining Continuity of Coverage Can be Critical for Pre-existing Conditions Can Insurance Shift to a Spouse? COBRA Recovery Act Includes COBRA Subsidy 45
Taxes and Severance North Carolina G.S. 105-134.6(b)(11) reads as follows: Severance wages received by a taxpayer from an employer as the result of the taxpayer's permanent, involuntary termination from employment through no fault of the employee. The amount of severance wages deducted as the result of the same termination may not exceed thirty-five thousand dollars ($35,000) for all taxable years in which the wages are received. See http://www.dornc.com/practitioner/individual/directives/pd-98-1.htmlfor additional information. 46
Taxes and Job-Search Expenses 47 If you itemize, job-search expenses are deductible up to a limit which equals 2% of your adjusted gross income. You can deduct certain expenses you have in looking for a new job in your present occupation, even if you do not get a new job. Employment and Outplacement Agency FeesYou can deduct employment and outplacement agency fees you pay in looking for a new job in your present occupation. This includes fees to online services. ResumeYou can deduct amounts you spend for typing, printing, and mailing copies of a resume to prospective employers if you are looking for a new job in your present occupation. You cannot deduct these expenses if: You are looking for a job in a new occupation, There was a substantial break between the ending of your last job and when you began looking for a new one, or You are looking for a job for the first time.