The Executive Update

Rethinking Retirement – Time to Give Older Workers New Options

Ageism is a topic we talk about a lot, largely because NETSHARE and Executive Update are aimed at senior executives; those professionals who have earned their credentials and are senior managers because of their experience. A common problem our members experience is they are considered too old for the job. This is a particular issue for senior executives who have to report to younger bosses – no one wants their mom or dad to work for them.

I was gratified to see an industry expert say that by forcing older executives out of the workforce, we are throwing away a valuable resource. In a recent article in CNN Money by Fortune Managing Editor Dan Roth, he quoted Hans-Paul Bürkner, CEO of Boston Consulting Group (BCG), speaking at the World Economic Forum Davos in 2010:

"We have to give people a chance in their 60s and early 70s to continue to work," he said. "We have to have different opportunities for them to expand their talents and to make the best use of their talents." As populations age in places like Europe and Japan -- a country that boasts the highest percentage of elderly in the world -- society turns top heavy, with young workers supporting the masses of retirees. Of course, economists have been warning of this for decades. Now Bürkner, who is 58, says it's time for companies to take it upon themselves to craft a solution -- and to do so for their own self interest.

According to Bürkner, when companies are hard-pressed to create new jobs, it seems foolish to phase out older employees with valuable experience and insights to retirement or to make way for younger employees. BCG studies this closely calling it “demographic risk management,” i.e. identifying holes that can open up in employee staffing in the coming months and developing strategies to fill those holes. He argues that when aging workers leave, they take with them valuable information that cannot be replaced, partly because today’s schools are not preparing students for those jobs that are being cut. As part of demographic risk management, you have to understand how staffing decisions could create gaps in corporate knowledge.

Bürkner has an interesting suggestion. Don’t force older workers to retire, but provide a “gliding path” to retirement. Instead of letting older workers go or forcing them to retire to make way for younger workers, why not let them migrate into training roles? Instead of forcing them out of work, why not adjust their hours to allow them to still contribute to the company and transfer their knowledge? As Bürkner says, Rather than saying this is the path you can go -- you are in a box and the box moves this way -- you need different paths."

Of course, this kind of shift requires a whole new way of thinking, not just on the part of management but also for the workforce. We need to change our thinking about retirement, either looking at retirement as the brass ring at the end of a life of toil, or looking at forced retirement as a penalty when you still have a lot to offer. The real objective should be giving everyone a chance to contribute in the manner they wish. It’s a matter of making sure that workers have the right role for their skills and desires, rather than forcing out older workers in favor of a new batch. There needs to be room for all.

This kind of sea change won’t happen overnight, but it would address a number of problems, including the ongoing need for companies to hire experienced talent, and the challenges facing retirees as their savings dwindle in an economic slump. Let’s stop putting the most experienced workers on the bench and instead, keep them in the game so we all come out winners.

Ask the Coach: Negotiating Compensation Starts with the First Contact

Every week, NETSHARE hosts Ask the Coach, a phone-in coaching session with leading career management experts. Here is an excerpt from this week’s session with career transition coach and career management consultant Randy Block.

Most executives don’t start worrying about negotiating a salary or compensation package until after they receive an offer. This week’s career coach, Randy Block, reminded everyone that negotiations begin the first time you make contact.

When you first talk to a recruiter or hiring manager in a phone screening, or when you start filling out an online job form, the hiring company is already trying to determine if you fit in their price range. These first contacts are designed to eliminate you right away based on salary. If you are priced too high, or too low, then it will knock you out of the running. That’s why it’s important to try not to give a firm salary figure until late in the interview process.

The question is bound to come up. Randy offers a number of suggestions to try to avoid answering the question how much do you want to get paid:

1. Try the Richard Nixon defense; answer a question with a question. When asked how much you want, you can counter with a question like, “What is the range for the position?” About 60 percent of the time they will tell you. If it’s below your minimum requirements, you need to decide if it’s worth going forward. Is the fit good enough to make it worth your while, or is the salary range close enough to make it negotiable?
2. If the interviewer comes back and asks for a number again, you can counter with something like, “Well, if the fit is great for your company and for me, then I am sure we can come to some kind of compensation package that is mutually satisfactory.” Randy says that he has found that when both sides like the fit, they want to work hard to make things work out. That covers about 20 percent of those who ask.
3. When they really press you for a figure, then you have to give it to them. If the salary figure is a deal breaker then ask yourself if this company is really worth pursuing in the first place.

Now you have starting point. As negotiations continue, when you get to a written offer letter you can really start to negotiate. First, you must determine if you truly want this job. If you don’t then it will become clear during negotiations and both sides will be damaged by continuing. If the salary is still lacking, then there are other ways to sweeten the deal. Consider other perks, an equity stake, a signing bonus (typically 10 percent of base salary), stock, or a performance review within three months with an incentive increase. You might even consider increasing the scope of the position.

(For those who are interested, our May 25 Experts Connection teleseminar will be on "Show Me the Money:  Executive Compensation Negotiation in Today's Economy.”)

LinkedIn Netiquette Requires Finesse and Tact

This week we will be hosting our Experts Connection teleseminar on how to get the most from LinkedIn with Jason Alba, “LinkedIn For Executives - Beyond The Basics.” A lot of experts talk about the best way to get more from LinkedIn, but I have also seen a number of social networking faux pas from inexperienced users who routinely break the rules of LinkedIn etiquette. Last week, Hannah Morgan, the Career Sherpa, posted an article on how NOT to network on LinkedIn. Although some of the advice may seem obvious, these reminders will help us all brush up on our netiquette.

All LinkedIn users get requests to connect. Some come as short messages, others come as “in-mails,” and others come as requests through connections. All of these approaches have their own issues, but the first thing to remember is that you are looking to make a new network contact; you are not looking to land a job. So you need to be sensitive to the recipient’s time and value to you, and what you might have to offer in return.

There also are some specific rules that are applicable to making contact.

1. Formatting matters. This means you should avoid long rambling paragraphs, and use a spell checker. You want to be clean and concise.
2. Get to the point. Explain what you want at the beginning and then go into the whys and wherefores. You might event include some insight in the subject line.
3. Be specific about your role and qualifications. Don’t use vague terms or make the recipient think too hard about what you do. If you make them work they will ignore you.
4. Don’t bother offering an email or a resume. You’re on LinkedIn! If they accept your request to connect then they can see your credentials and contact information in your profile, and they can always reach you through the LinkedIn network.
5. Don’t ask the other party to do all the work. Ask to connect, but don’t put the burden on them to send information, or give you something for nothing. People are busy and all you should ask of them is to click the “accept” button to make contact. Nothing more.
6. What’s in it for them? Granted, you are looking for people to help you find a job, but don’t make it obvious that you want to connect because this person is a stepping stone to your final goal. No one wants to feel used. Offer something in return if you can, such as contacts they might find useful or insight from a LinkedIn group they might find valuable.

In any networking situation, you want to be tactful, respectful, and gracious. Networking is an exchange of information, which means it should be of mutual benefit. Establish the rapport before you start making requests.

Ask the Coach: Time for an Attitude Adjustment

Every week, NETSHARE hosts Ask the Coach, a phone-in coaching session with leading career management experts. Here is an excerpt from a recent session with career coach Don Orlando .

The economic downturn has played havoc with the job market and a number of very talented executives have been out of work for some time. It’s time to rethink your career strategy and take a hard look at your attitude. Are you presenting the right tone to the market to get hired? What you say in writing and in interviews says a lot about you and you want to make sure those on the receiving end are getting the right message.

During this week’s career coaching call, the discussion turned to “transitioning” due to layoffs. Don noted that attitude was really important for those in transition and you need to make sure you position yourself correctly and deliver the right message.

In the past, being “out of work” for a period of time put you out of the running with most employers. That’s not true these days. One NETSHARE member calling in said he had build a successful practice as a consultant and wanted to know how to leverage that experience to find a full-time position with a large corporation. He was listing his current title as “interim consulting” on LinkedIn and wanted to know if that was sending the right message.

Don suggested leaving out the defining term “interim.” That sends the wrong message and suggests you are only consulting part time, with partial value. Rather, you need to be seen as a full-time professional who provides valuable services to your clients. Make sure your marketing documents reflect that attitude; that you are committed to delivering value with superior expertise.

Companies will hire based on perceived value, so your attitude has to reflect that value. Show them the benefits you have to offer. Don’t point out that you are unemployed, and terms like “interim” do that, whether it’s intentional or not. Show them that you are passionate about what you are doing, and that you will be just as passionate at solving their problems.

Attitude is everything, and you have to put on a positive attitude to gain positive results.

12 Tips to Help You Make A Better First Impression

We talk a lot about personal branding and the need to have solid marketing documents that articulate your true value. However, if you can’t make a strong personal connection, it will be that much harder to demonstrate that you have the skills needed for the job. Making a great first impression is half the battle in impressing a hiring manager. Here are 12 tips to help you make a solid first impression, compliments of Alyson Kruger at Business Insider:

1. Dress to impress. Studies reveal that first impressions are formed within the first 17 seconds of a meeting, and 55 percent of that opinion is appearance. How does this affect your strategy for attire? Dress conservatively, even if the dress code for the workplace is casual or “funky.” Avoid loud accessories, hair styles, shoes, or anything that would take attention away from your skills. Also dress to show that you respect for the interviewee and the company.
2. Think before you speak. Seven percent of what we think of others is based on what they say. Think about how you want to come across, whether it’s humble, aggressive, optimistic, innovative, then make a list of words to convey that impression. Even if you don’t use those words it will help you prepare.
3. Watch your tone of voice. Thirty-eight percent of a person’s first impression is taken from tone of voice. Consider how you sound to others. Do you sound calm, enthusiastic, confident, humble, self-assured. Practice the way you want to be perceived.
4. Adjust your body language. Ninety-three percent of people’s judgments are based on non-verbal cues. A firm handshake, good posture, a smile, and eye contact will help reinforce a good first impression. Avoid gestures like crossing your arms or sitting too casually which may convey that you are bored or don’t care. Be aware of your physical attitude.
5. Use their name, often. People like to be acknowledged and studies show that addressing potential customers by name increases the likelihood of a sale by 36 percent. When you meet someone, say their name – “It’s a pleasure to meet you, Jim.” And repeat their name through the interview. It will help cement the relationship.
6. Be on time. Being late shows a lack of respect for others’ time. If you can, arrive 15 minutes early and use the time to collect your thoughts.
7. Focus on them. Even though it’s an interview, focusing too much on yourself will bore the other party. Prepare by making a list of questions about the other person and their company. You don’t have to go into great detail but show that you are interested in learning more about them.
8. Listen. We have talked about the need for good listening skills in the past. Exchange information, don’t dominate the conversation, and listen to the others closely. Also acknowledge what they are saying with phrases like, “that makes sense” or “interesting” or “can you elaborate on that” to show you are engaged.
9. Tain’t necessarily funny. Watch the use of humor. Avoid sarcasm or controversial jokes that could be misinterpreted, especially if you are meeting someone for the first time.
10. Bring your documents. Don’t assume they will have copies of your documents. Bringing your own paperwork shows you are prepared. And bring them in a portfolio or briefcase to show you are organized.
11. Do your homework. Learn all you can about the person whom you will be meeting. Check them out on LinkedIn, the corporate web site, and using other social networking tools so you can ask informed questions about them.
12. Be yourself. If you can, try to relax and be yourself – be authentic. To help you overcome nervousness, do something to relieve the stress. Exercise beforehand, listen to music, whatever helps you relax. Also give yourself a pep talk, list your best qualities, practice in the mirror, or call a friend to give you a boost. And during the meeting try to relax. You can never know what the other party is thinking so just be yourself.

Ask the Coach: Career Coaches Promote Perspective and Accountability

Every week, NETSHARE hosts Ask the Coach, a phone-in coaching session with leading career management experts. Here is an excerpt from this week’s session with Barbara Safani, owner of Career Solvers based in New York City.

Everyone has a profession; a task you are trained to do well and that, ideally, at which you excel. You are an expert in your chosen field, and chances are, that field is not job hunting. Most people are not professional job seekers, so there are going to be rules, trends, strategies, and services that you won’t understand. In fact, since you are not a professional job seeker, competing for a job with those who have more experience and are more adept at job search puts you at a major disadvantage.

That’s why you hire the professionals. This week the question of hiring a career coach came up, or more specifically, “Why do I need a career coach?”

A professional career coach can help you in a number of ways. As Barbara reminded the callers, it’s difficult for anyone to step back and take an objective look at himself or herself. A good career coach also provides objectivity, which means they can help you think outside of the box. They can help you clarify your value proposition, sharpen your marketing documents, and develop a strong, multi-pronged approach that will move you forward. Some executives need very little assistance since they have worked with coaches or mentors in the past and just need a brush up. Others will need more help, since they haven’t really thought about their expertise or their strategy for the past 20 years and have to start from scratch. Whether you need help with discrete elements of your job search or you need a total career makeover, a good career coach can be invaluable.

Perhaps the greatest service a career coach can provide is accountability. Just as if you have a personal coach for your fitness program, the career coach keeps you on track. They act as your career conscience, making sure you have done your homework, contacted the right executives revised your marketing documents, and followed up on your last interview. The career coach helps you stay focused on the objective so you don’t get distracted.

So what do you look for in a career coach? Someone you can trust and who makes you feel assured and comfortable. Where do you look? Ask friends and colleagues who they might recommend. NETSHARE members can access the Resources section of the web site for recommendations, or you can contact any of the career coaches that NETSHARE has already qualified, including Randy Block, Christine Dennison, Nicola James, Ross Macpherson, Barbara Safani, and Kristin Speer.

When you talk to a prospective career coach, ask questions. Have they worked with other professionals in your field? At your level? How do they position people? What’s their process? Barbara, for example, likes to use a collaborative process that includes information gathered in writing and through interviews. Any reputable career coach will be happy to give you a free consultation to determine if you are a good fit and if they can assist you.

And you need to ask about costs. The fees will depend on the level of help you might need. For example, a brush up in interviewing techniques could be $50 where building a full resume, marketing documents, coaching, mentoring, and starting from scratch will be more. However, also consider the long-term benefits. If a career coach can shave months off your job search, he or she will be worth the investment. After all, isn’t it worthwhile to invest in yourself?

“A Recruiter, An HR Manager, and a Hiring Manager Walk Into a Bar…”: The Power of Storytelling

Effective communications can be tricky, particularly in an interview setting. In the past we have talked about effective communications strategies, including constructive listening. I recently spotted a guest post by Ira Koretsky, The Chief Storyteller, on the Marketing Executives Networking Group (MENG) blog offering tips to improve your communications skills. The thing that rang most true for me was the notion of storytelling. We all have a story to tell, and effective storytelling is the best means to communicate your personal value proposition.

Storytelling is as old as the spoken word, and effective storytelling needs to be part of every aspect of communications, whether It’s your resume, your biography, or an elevator pitch. When you engage with anyone, you want to be able to tell your story in a concise and compelling fashion that engages and informs. As Ira Koretsy notes:

By reaching your audience’s heart and mind, you access the part of them that wants to believe in what you have to offer.  You need to inspire others around you to achieve your goals.  The greatest bonding and trust-building tools we have are effective stories.

Stories are designed to explain, inspire, bridge a gap, promote new ways of thinking, and most importantly for you in an interview setting, promote a shared vision of the future. Powerful storytelling can win over any contact to help you in your search, whether you are looking for new contacts to help you on your way, or trying to ace an interview.

So what are the elements of an effective story? Here’s what Koretsky has identified:

1. Use a story structure that has a clearly defined beginning, middle, and end. Even if you are telling a business story, you need to use a structure to show the listener that you have a point you are trying to make. The familiar beginning, middle, end structure will help build empathy with your audience since it’s familiar and they can follow along.
2. Tell your story with a message in mind. Before you start telling the tale, understand what you want your audience to take away from the tale. What is your objective? Do you want the reader to learn something or act differently? You can develop a targeted message by putting it in a category such as process, customer service, teamwork, leadership, etc. Apply one of the major reasons you want to tell the story, i.e. to inspire action, bridge a gap, reach a better future. You most important story is the future story you tell in the context of a better future; “tell me about yourself.” This is the storytelling about your future working together.
3. Make the journey in the story relevant. The one thing that interviewees often forget is WIIFM – What’s In It For Me! Connect with your audience by making it relevant and creating a shared experience. Make a connection that promotes empathy so they will act.

If you are going to be a good storyteller, then you have to know your audience. This is where you have to do your homework – identify with your prospective employer, identify with their problems or points of pain, and tell stories that are relevant. Observe how storytelling works in other aspects of your life and you can see how you can harness stories to get a desired result. Then you can find that balance between business and emotion that will let your story resonate with your audience.

Ask the Coach: The Circle Game

Every week, NETSHARE hosts Ask the Coach, a phone-in coaching session with leading career management experts. Here is an excerpt from our most recent session with Christine Dennison, The Job Search Coach.

Effective networking is a never-ending circle. Connections are everywhere and made to just about everything, so a slight pull here or a push there might create a ripple effect that can have a big impact somewhere else.

In this week’s coach call, Christine reminded job seekers that you have to nurture your connections. Complete the circles you begin. By circling back you reconnect with valuable contacts. Of course, these contracts may not be strong, first-level connections, but all connections are valuable.

Think back to interviews you have had, especially where you came in as the second or third runner up. We all know that some hires don’t work out. Why not reconnect with the recruiter, hiring manager, or HR manager for those positions two or three months after the fact to see how the new hire is doing? If things aren’t working out, they may already be considering starting the hiring process over again. They also will remember you. If things are working out, then perhaps they realize they need additional help that might align with your skills. They might also be able to recommend you to another part of the company.

If you reconnect with the recruiter, he or she may have another search underway that may perfectly suit your skills and expertise. Be sure to circle back to let them know you are open to calls and being contacted, and offer to assist with other searches by putting the recruiter in touch with your contacts. (Hence the value of even loose connections.)

If you haven’t talked to a former boss, coworker, or employee for a while, why not reach out to them and find out what is happening in their world. Gather information about your industry, changes in the market, problems they are wrestling with – anything that puts you in touch with your market. Ask them who they feel is on the cutting edge these days and why. Let them know what projects you may be working on, or consulting you are doing, or even charities you are working with.

The objective is to reconnect those in your circle so you can use each contact as a potential stepping stone to your next professional challenge. You should always be conducting career research, and understand how each contact and connection can help you achieve your goals. Keep searching for the connections and completing another circle.