Job-search over 50 – Page 9 – New Century Dynamics Executive Search

November 20, 2016

Dating Parallels Job Search

I enjoy autumn. The days are getting cooler here in Atlanta, and the changing of the leaves is awesome. However, it is the return of NCAA Football; that makes fall so enjoyable to me. On a recent Sunday morning, I was exchanging congratulatory football-related texts with my friend Faith, when she asked if I had time for a phone call. I had just poured a fresh cup of coffee which I planned to enjoy on the deck, so I was free to talk. After exchanging some pleasantries, Faith said she needed a male’s perspective about a guy she had been dating. After 40 years of marriage, I am clueless as to the current dating scene. However, from time to time, my female friends ask me for insight into the male psyche. She told me that after three good dates, this guy had gone “radio-silent.” Also, he had failed to respond to a few text messages. She was miffed by his behavior, which she considered rude, and asked for my perspective. I cannot say that I was much help, but I did share some thoughts. It occurred to me that our conversation was similar to my recruiting-related issues.

I have some single friends, male and female, mostly Baby-Boomers, who are actively dating. When we get together, over cocktails, poker, or business networking, I usually get an update on their progress looking for the right match. Some of my single friends are very active. Each has been married, at least once, so they know what they want in a mate. Some have a clear dating strategy to follow. Some are more casual, taking things as they come. Some enjoy the process, while it has traumatized others. Some are optimistic while others have all but given up. People new to the dating scene are trying to understand the rules of the game. I have come to realize that dating and job search is very similar, particularly among Baby-Boomers.

Making a good first impression is a critical component in dating and job search. It begins with your on-line profile, usually LinkedIn and a resume for job seekers. As with job search, technology has delivered a lot of resources to facilitate “mate search,” with E-Harmony and Match.com prominently recognized. Additionally, there are smartphone dating apps such as Tinder, Bumble, and the new Hinge. These apps offer a platform to aid those seeking friendship, romance, and at times, short-term physical gratification. About these apps, Faith said, “As I surf through the sea of other romance seekers on these apps, I look for a common alignment of goals, personal and professional interests, and hobbies.”

Notwithstanding the technology supporting the dating scene, the fundamental process for selecting a mate is much the same as finding a good job. It begins with a goal, supported by criteria for the optimal match and a search strategy. In other words, you need a plan. [Tweet “When dating, the process is referred to as romance, whereas the job search process is about earning a living.”] In dating and job search, the objective is about promoting one’s unique selling proposition while evaluating the other party.

Every step of the way is fraught with angst. I hear questions like; when will I hear back from him/her? Did I make a fatal mistake? Are they considering someone else? Why is the process taking so long? It is a challenge to get your foot in the door. That first screening call is the brass ring. Waiting for the second call can be agonizing. The process never happens in a vacuum. There is always competition, blind to the candidate until after the fact, if ever. The timetable is beyond one’s control. Intestinal fortitude is required.

Next week I will explore each step of the dating/job search process in more depth.

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

Jim Weber, President
New Century Dynamics Executive Search
Author of: Fighting Alligators: Job Search Strategy For The New Normal

Current Assignments

1. Strategic Partner – Atlanta-based B2B Professional Services Company – Complete
2. Director of Business Development, Atlanta-based B2B Professional Services Company: New
3. Training Director – Southeastern-based Restaurant Group: New
4. Senior Accounting Manager – Atlanta-based Manufacturer. New
5. Controller – Orlando, FL-based Restaurant Company: New

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November 7, 2016

Before You Accept That Job Offer!

Recently, I have been writing about transitioning from employee to independent contractor, or consultant. That is a significant trend that is here to stay. However, it goes both ways. This week a good friend approached me for advice about leaving her business to become an employee for one of her larger customers. It has been a very long time since she has been an employee, so she wanted to be sure that she was making the best decision, in the right way.

Before offering any advice, I asked her to give me the full background on her situation. She said that she has been working with this thirty-year-old company and has developed a good rapport with the owners. They like her project management style and think she can help them build their business. Now, they want her to join their team. She likes the opportunity but is uncertain as to how she should proceed.

My first question was to confirm that she enjoyed working with these folks and that mutual trust and respect is established. Secondly, I asked if she thought that their upside potential was greater than if she stayed focused on her business. When I got an affirmative response to each of those questions, I asked if she had received an offer letter documenting the terms of her employment. Silence. I was not surprised, as small companies usually hire new employees on a handshake. I explained the importance of an offer letter is to ensure that she fully understands the commitment required of her. I promised to send her a sample offer letter when we finished our call.

I would ask the following questions when negotiating an employment agreement. These are business-based, standard questions for anyone contemplating a new job.

1. What is my role and title with this company?

2. Who do I report to?

3. Will I have any direct reports?

4. What is my compensation, including incentives, and commissions?

5. What is my base salary, when and how is it paid?

6. What is the Commission program and how is it paid?

7. Expenses: what "qualified business expenses" will be reimbursed, including automobile mileage, corporate credit card, etc?

8. 401K: is one available, is there a corporate match, what is the vesting schedule?

9. Profit Sharing: is one available, am I considered eligible?

10. Health insurance: what carrier, what percentage does the company pay?

11. Is short term, long term, and disability available through the company?

12. Ancillary benefits: critical illness, auto / home, additional life insurance buy ups, etc.

13. Is there Paid Time Off? How does that program work?

14. What Holidays are observed?

15. How can I become a major contributor to this organization?

16. What are my opportunities to be considered for more senior management positions after meeting certain metrics?

17. Tools provided: Laptop computer, cell phone, etc.

Armed with this information, my friend was prepared for the next discussion with her prospective employer. He assured her that he would address all of her questions when they met again to finalize the deal, and he did.

If you don't get a formal offer letter, you will still want to address these issues with your prospective employer. Write them down before your meeting to ensure that all of these questions are answered to your satisfaction? Make sure to leave enough space to take notes documenting your discussion. These notes will become your offer letter. When your conversation is finished, make a copy of your notes for your prospective employer to ensure that you are both on the same page.

In having this conversation with your potential new boss, you will learn about him as a leader and his decision-making skills. You will learn about the corporate culture as well as his vision to grow his company. More importantly, you will have documentation to help resolve issues as they arise. So, before making a commitment to start a new job, make sure the terms of your employment are documented.

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

Jim Weber, President
New Century Dynamics Executive Search
Author of: Fighting Alligators: Job Search Strategy For The New Normal

Current Assignments

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October 24, 2016

Keep Independent Contractors Independent

My recent article on the use of Independent Contractors (IC) as a substitution for full-time employment generated some interesting conversation. I am not surprised, as it is an arrangement that is under greater scrutiny by the IRS. Many employers and Freelancers are unclear as to the rules governing this relationship.

As an employer, you have a reason to be careful in this transaction, as worker misclassification can be a costly mistake. Your company will be at risk to pay penalties and to remit payroll taxes that would otherwise have been paid.

As a prospective employee, you should understand your rights, in the event that an employer wants you to work as an IC. You should know that you will be responsible for FICA (payroll) taxes which will run about 15% of your gross earnings.

[Tweet “So, how does an employer ensure that an IC does not become classified by the IRS as an employee?”] Likewise, how does a prospective employee protect himself from an employer that does not understand the rules?

I consulted with my HR expert, and reviewed IRS Form SS8 to provide some direction.

The advice I received was: “When you can only direct or control the result of someone’s work and not what will be done and how it will be done, then the worker is typically defined as an independent contractor. These are self-employed workers. For an employee, you control what work is to be done, when it will be done, where it will be done, and how it will be done.” This seems to be a pretty good summary of the relationship between Employer and IC. Remember, I am not an attorney and this is not meant to be legal advice. For further clarification always seek the advice of an attorney.

[Tweet “Once you have entered into an agreement with an independent contractor, there are a number of IC work habits you must understand to comply with the IRS and other agencies.”] The IRS test considers three broad categories: Behavioral Control – who determines how the work will be done; Financial Control – how the IC is compensated; and Relationship with the Employer; – how the relationship is presented to the public.

The following guidelines should be helpful.

Behavioral Control:

The IC performs their work and provides services without your direction.
The IC does not work at your offices unless the nature of the services absolutely requires it.
The IC is not provided employee handbooks or company policy manuals.
The IC establishes his working hours as he determines to be appropriate.
The IC is not given too much work or short deadlines which require them to work full time for you.
The IC is not provided ongoing instructions or training.

Financial Control:

The IC is not provided with equipment or materials unless absolutely necessary.
The IC is not paid travel or other business expenses directly.
The IC is not given employment benefits.
The IC is not required to give you formal written reports.
The IC is not invited to employee meetings or functions.
The IC not paid on a weekly, biweekly, or monthly basis as you pay employees.

Relationship to the Employer:

The IC is not provided company business cards or stationery.
The IC does not have a title within your company.
The IC is not referred to as an employee of the company.
The IC agreement may be terminated by either party without liability.
The IC may provide similar services for other companies.
Follow the terms of the IC Agreement, including termination provisions.
If the IC is to be given additional work, execute a new IC Agreement

I’ve been told it is not a single issue that decides the question, so one must look at all of the guidelines.

[Tweet “Working with Independent Contractors is certain to become more important as we transition into the Digital Age.”] Establishing a relationship that adheres to the guidelines will minimize the risk to your business. Follow the terms of the IC agreement, including its termination provisions. If in doubt, consult an attorney and/or complete IRS Form SS8.

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

Jim Weber, President
New Century Dynamics Executive Search
Author of: Fighting Alligators: Job Search Strategy For The New Normal

Current Assignments

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October 6, 2016

Strategic Partners: Choose Wisely

Last week I wrote about my consulting assignment to help a client’s business development needs. I mentioned that we had been working to recruit a Strategic Partner (SP). In fact, we closed that deal this week. This new partner is highly experienced in my client’s industry segment and is active in a different geographic quadrant of the U.S. Additionally the SP has depth in segments my client desires to penetrate more fully. This partnership seems to have great potential. My client’s decision to enter into this agreement is aligned with the direction of the economy.

So what is a Strategic Partner? SPs may be in business to serve the same target market but not as a direct competitor. Or, they could be an indirect competitor who serves a different target market. They may work in a market segment you would like to penetrate, but lack the resources. They may have expertise your company lacks and vice versa. Your company may have identified a prospective client who cannot be closed due to a lack of competence in their market segment. However, if there is a relationship with another company, or contractor who has the needed skills, an engagement may be possible. An SP can complement your business.

The SPs I have developed came from referrals. My network pointed me to these folks, initially as a resource for searches. In my work, as with any consultant, I learn a lot about my client's needs. It is natural to want to help them solve problems to become more successful. Their success will ensure a long term relationship and continued success for my brand. I view this support as value-added. Having the ability to refer additional resources to help my client becomes a win-win.

Selecting a Strategic Partner is very similar to hiring a full-time employee. One must do their due diligence to ensure that the candidate has a demonstrated, verifiable track record of success. The candidate must match your company's culture and values. They must have an excellent reputation for building bonds of trust. They must play well with your team. The past is prologue. Check their references. You must employ a thoughtful selection process as the SPs brand will become linked to yours. The wrong partner will damage your brand.

An SP is a formal business relationship; consult your attorney to document your agreement. Risk will drive the scope of your contract. At the very least you will want to have a letter agreement on record. The term of the initial agreement should be long enough to get a good read on the SP, without suffering a prolonged mistake. A clause to end the agreement with appropriate notice is necessary.

On quality control, you must exercise oversight. You cannot dictate how they perform the work; however, you can monitor their progress and outcomes. Check in with your client on a regular basis. Secure feedback as to the SP’s performance. If there are issues, you must be alerted to facilitate corrective action. You have a brand to protect, so be engaged.

[Tweet “Building one’s business via Strategic Partnerships is about leveraging resources to support a strategic initiative.”] It is a real force multiplier. Strategic Partners can enhance the value of your brand, and if managed well, strengthen bond with your client. When you enter into an SP, you are formalizing a relationship to build a line of business. You become a marketing resource for your SP, who becomes another source of revenue to your business.

Strategic Partnerships as a business strategy carries risk, as well as rewards. Seek win-win relationships. [Tweet "Properly incentivize, resource, and manage the Strategic Partner. Choose wisely."]

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

Jim Weber, President
New Century Dynamics Executive Search

Author of: Fighting Alligators: Job Search Strategy For The New Normal

Current Assignments

September 27, 2016

A New Paradigm

I think we can all agree that effective recruiting and selection is critical to success in business. Even so, it is management’s biggest challenge. To meet this challenge, the more effective companies place a strong emphasis on recruiting, selection, onboarding, and manpower planning. Large, established companies have the resources to ensure that hiring managers are skilled recruiters. They provide training so that interviews are meaningful, and that the hiring decisions are optimized. They often use diagnostics precisely calibrated to assess the candidate's fit with their culture. These companies offer very competitive compensation programs that attract the best and the brightest. Over time, their brand power attracts candidates with little effort on the part of Human Resources.

[Tweet “For most companies, however, recruiting and selection are problematic.”] Hiring good people can be a hit or miss proposition. They understand the need for high-caliber talent, but they may lack the resources to be competitive. Errors occur at every stage of the recruiting and selection process. Often, people engaged in recruiting are not adequately trained. Onboarding is not appreciated, so new hires do not begin their tenure with a solid foundation. Even if these companies hire a third party Executive Recruiter, there is no guarantee of better results. An outside recruiter does not control the internal vetting process and has a limited influence in the hiring decision.

Small, family owned companies may have the biggest challenge. They probably do not have a recruiting professional on staff to manage the function. Outside recruiters are an expensive alternative which offers limited, short-term value. They must be more creative to attract qualified candidates. If they cannot provide healthcare benefits, they may offer more flexible work hours, and the ability to work from home. These options may be necessary to mothers with small children. Whereas small, family-owned business may be able to attract talent with flexible work choices, their process for selection, and performance management is likely to be insufficient.

This last situation is similar to that of a current client. They have plans to grow their business and the budget to fill a strategic sales position. However, they have not been pleased with their most recent recruiting and selection efforts. They lack the internal resources to conduct this search, and cannot afford to hire a third-party Executive Recruiter. They need help, so they called me to find a solution. We landed on a hybrid option whereby I would create a recruiting, selection, and onboarding program as an Independent Consultant. I took the assignment because, well, frankly the client is a good friend and networking contact. I am convinced that there are many similar companies, facing the same situation, which should find this to be a viable alternative. This is an opportunity to expand my business.

Over the last three months, we have made significant progress. We have established a strategy to stay in front of the labor market generally, and specifically to attract candidates for their current job opening. We have developed a position specification which has attracted qualified candidates who are very interested in this position. We have worked on improving the interview process resulting in better candidate vetting. We have surfaced an opportunity to recruit independent contractors to provide additional leverage. The discipline around the client’s recruiting and selection process has dramatically improved. At this time, we are working through the hiring decision. When we close the deal with the best candidate, I will begin work on their Onboarding Plan.

[Tweet “If recruiting and selection are vital to a company’s success, as I believe it to be, then senior managers must resource this function.”] If hiring managers are not blessed with vast resources to support their efforts, they should become familiar with other options. The first point is to recognize the need to give recruiting and selection the support it deserves.

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

Jim Weber, President
New Century Dynamics Executive Search

Author of: Fighting Alligators: Job Search Strategy For The New Normal

Current Assignments

1. GM, Private Club based in Southeast, Confidential Search: New
2. Director of Business Development, Atlanta-based B2B Professional Services Company: New
3. Training Director – Southeastern-based Restaurant Group: New
4. Senior Accounting Manager – Atlanta-based Manufacturer. New
5. Controller – Orlando, FL-based Restaurant Company: New

September 19, 2016

The Big Day Finally Arrived!

So the big day finally arrived. This week I presented to the Business Executives Networking Group (BENG). By far, this is one of the best networking groups I've ever attended. Their career backgrounds and level of experience is top notch. As you may recall from my prior posts, the topic was “Job Search Strategy in the New Normal." The subtitle was “Improvise, Adapt, Overcome!”

After a brief welcome from Julie, the group’s moderator, I was introduced and began my presentation. The first thing I did was provide a brief summary of my background and then provided an overview of my presentation. You'll remember the old maxim; “tell them what you're going to tell them, tell them, and then tell them what you told them.” I let them know that I had two exercises planned, which would ensure their participation. When I completed the setup, as is customary, I invited the participants to make their introductions.

My strategy for the presentation was first, to remind the audience of their career experiences. In other words, as we were all baby boomers, we share similar life experiences. We have learned to improvise, adapt, and overcome.

When their introductions were complete, I asked each of the participants to offer one thought about job search in the “new normal. “ Many related their frustration dealing with the process. They were in agreement that this is a challenging time. Some are having difficulty adapting. They do not hold Human Resources personnel in high regard. There was consensus on the need to network aggressively as opposed to sending resumes to job boards. That wasn't a big surprise as they are involved with this networking group.

After listening to their feedback, I gave my take on the "new normal" from a top-down perspective. Employers are risk-averse. They are reluctant to make new hires. This mindset is due to some factors, especially the renewed interest in Federal regulation. I gave them my assessment as to the state of the global economy, i.e. slow growth and changing demographics. I reminded them that all of the economic issues we face exist in the broader context of our headlong transition into the digital age. As one of the participants stated, we have entered the fourth industrial age. I summarized a report by the Bank of England which rated the probability of occupations to be lost to automation. That report did offer some good news, at least for my audience. Senior level managers and Professionals are less likely to lose their jobs to automation. Likewise, jobs requiring creativity and personal interaction, such as Interior Design, are not good candidates for automation. The bad news is that most administrative, middle management and blue-collar jobs are at risk.

We discussed "CNBC’s Disrupter 50" list. They recognized Uber, but not many others. Startups a bringing innovations to the market, creating new employment opportunities. More good news!

In the final exercise, I asked the group to list one significant implication for their current job search. Naturally, they reinforced the need to network. They understood the need to keep learning, to ensure their skills are up-to-date. They spoke to the need to be more flexible in their job requirements. Project work or consulting opportunities must be part of their job search plan. As I said before, this is a smart group. They get it.

I believe I got their attention. Three people asked if we could meet for coffee, and two others asked if I would be interested in speaking to other, similar groups. The question is, what will they do now? What changes will they make? Will they align their personal needs with those of the market? I need to explore these issues further as there might be an opportunity to develop a useful workshop.

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

Jim Weber, President
New Century Dynamics Executive Search

Author of: Fighting Alligators: Job Search Strategy For The New Normal

Current Assignments

September 8, 2016

The Market is Sending You a Message: Listen

Well, it has happened again. Three famous actors died within the last week; Gene Wilder, John Polito, and Hugh O’Brian. People often say that Celebrity deaths come in three. Frankly, with all of the aged actors in the population it is not surprising that three or more could pass at roughly the same time. I doubt that the timing of those deaths is significant. On the other hand, I often experience related events occurring in clusters. When I experience three similar events happening at about the same time, it means that I have a blog topic to explore.

In the last few weeks, I have experienced another cluster of similar events. I have made three new, unrelated connections from the healthcare sector. Two of these people have become clients, while the third is someone I am helping network into a new situation. These connections are interesting as healthcare is not my primary focus.

I met Patrick first. He is an entrepreneur and senior executive with a wellness start up. He needs help crafting his personal public relations material, including a resume and bio. He is seeking funding to build his business, and these tools are important to lenders. Next, he wants me to do the same for his partners.

Lisa is a business development executive who I met in connection with one of my assignments. Originally from the Atlanta area, she has recently returned after living out-of-state for thirteen years. Whereas she is poised and confident, with a lot of experience in the healthcare sector, she didn't have the particular background my client requires. Lisa may not have been a fit for that job. However, she is someone I want in my network. I am more than happy to introduce her to people who can help her in her job search.

Steve is a new client. He is a senior level IT executive, whose career has focused on serving the healthcare sector. He is an entrepreneur who built one company and sold it for a hefty sum twenty years ago. Steve is looking to find an entrepreneurial situation where he can make a meaningful contribution. He was referred to me by his executive coach, who is a close friend of a client. Steve needs help with his resume and bio, as well as networking connections. He also needs help crafting his career plan.

Central to all of these communications is my close friend, and healthcare maven, Sallie. She has had a successful business development career in healthcare. She has worked for insurance companies as well as wellness companies. She is an excellent networker who has been very helpful to my referrals. Naturally, Sallie is my go-to person in the healthcare field.

So, what does all this mean? Is someone trying to tell me something? I think so, but what is the message? Is it that healthcare is a segment that I need to penetrate? Or is it the need to provide more individual coaching services, helping people with their career management needs? Or does it mean that I need to consider new consulting opportunities in this field? How does all this dovetail with the concept of my book, “Fighting Alligators, Job Search Strategy For The New Normal?” Currently, I am working on a project to install a recruiting, selection, and onboarding program for a small, family-owned company. This assignment may be the genesis for a new line of business.

[Tweet “I’ve often said that if you listen to signals from the market, you will know where your skills are needed.”] The key is to acknowledge the signals. Well, I'm listening. I'm just not clear as to the message. I am certain there is an opportunity to explore. I will find it, eventually.

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

Jim Weber, President
Author of: Fighting Alligators: Job Search Strategy For The New Normal
New Century Dynamics Executive Search

Current Assignments

August 29, 2016

It’s The Culture!

Last week I drove to Birmingham for lunch. This visit was long overdue. One of my best clients has a restaurant in Birmingham, so it was finally time to check it out. The trip from Johns Creek, GA took about three hours, having left after rush-hour. I arrived 11:45 a.m. Birmingham time. Even then the restaurant was busy, with more guests following me. I took a seat at the bar and was greeted by Teresa. She offered me a warm welcome and asked if I had been there before. I told her that I had not, but had long planned to do so. Teresa promptly explained that the restaurant made all of their items from scratch. She went on to say that they specialize in small-plate portions served as they come off the line. She described their special of the day, a pulled-pork, barbecue sandwich piled high on a bagel. It sounded luscious, but I was in the mood for something else, Grilled Red Fish Tacos with a side order of black beans and rice. She took my order and left to pour a 12oz Yuengling lager from the tap.

It was very helpful to observe the operation, to better understand their service model. I had a great view of the entire process, including the kitchen. I could easily interact with the server/bartender. It was evident that the employees enjoyed their work. The service was quick, the food was excellent, and the staff was very friendly. The managers were actively engaged in serving the customers, without being obtrusive. Teresa even presented me with her business card, something I've never seen before. The back of the card featured a promotional message that listed upcoming specials. During my meal, I overheard Teresa tell another customer about helping open their new restaurant in Charlotte. She talked about that trip with great pride and enthusiasm as if she were the company's chief evangelist. I learned a lot from that visit. I came away with a much clearer sense of the culture my client was cultivating. This knowledge will help me as I take on new assignments for them.

The next day I was working with another client, prepping them to interview a potential new hire. I drafted an interview guide to help them learn everything they needed from the candidate. As the issue of cultural fit is important to this client, I crafted some relevant questions. I made sure that I provided a good selection of open-ended questions designed to get to the heart of the candidate's capabilities, management style, and ideal work environment.

I have learned that the most difficult part of any hiring decision is to assess the candidate’s fit with the organization’s culture. A good cultural fit is a major determinant of the applicant’s likelihood of success in any position. Probing this issue may be the most useful line of questioning in any interview. It is often the least well understood.

To make an appropriate assessment as to any job applicants cultural fit, the employer must first understand their company’s values and the attributes of their culture. For many businesses, especially smaller entrepreneurial firms this is a neglected matter. Although the company may tell you what's important to them as a brand and attributes they value, often they don't have processes in place to manage their culture. As a result, their ability to compare a job seeker to their corporate values becomes problematic. For employers looking to hire people that fit the culture, begin by understanding your values and manage them proactively. For job seekers, be sure to validate that your needs and values align with the target company's culture.

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

Jim Weber, President
Author of: Fighting Alligators: Job Search Strategy For The New Normal
New Century Dynamics Executive Search

Current Assignments

August 22, 2016

Chief Operating Officer Placement Completed

New Century Dynamics Executive Search, has placed an Interim Chief Operating Officer for a Casual Dining Restaurant client based in the Atlanta Metro Area. This client is a privately owned company. We validated a number of highly qualified candidates during this process, so if you have a similar need we can move rapidly on your behalf.

About New Century Dynamics Executive Search

New Century Dynamics Executive Search is focused on providing Executive Search and Management Consulting to the Service Industry: Segments of interest include Food Service Distribution, Restaurant and Hospitality, and Retail. We are specialists in placing Finance, Marketing, Operations, and Business Development professionals. Many of our clients are Private Equity Groups and Franchisers.

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

Jim Weber, President
Author of: Fighting Alligators: Job Search Strategy For The New Normal
New Century Dynamics Executive Search

Current Assignments

August 17, 2016

Improvise, Adapt, Overcome Part II

As mentioned in my previous post, I am preparing for a September presentation to our local BENG Chapter. My audience is comp osed of Senior Executives in transition and career development professionals. These folks are savvy professionals who understand business strategy. My objective is to help them to become better prepared to evaluate their options. I expect to learn from them as well. The title for my presentation/discussion is “Improvise, Adapt, Overcome.” I have it on good authority that this is a motivational phrase used by the Marines. You may recall Clint Eastwood's character in the movie "Heartbreak Ridge," Gunnery Sergeant Highway, used this phrase often while training his Recon Marines. This title seems appropriate.

[Tweet “At sea level, it seems easy to understand “The New Normal.””] We are in a period of slow growth, and historically low workforce participation. The current administration has focused on adding new regulations to business, a disincentive to growth and employment. Notwithstanding the officially reported unemployment rate of 4.9%, recent College graduates, saddled with heavy debt cannot find jobs. Many employees are working multiple, minimum wage jobs to make ends meet. Productivity, the engine for wage increases, has been low to nil. Globalism has moved manufacturing facilities to lower-cost, developing countries. The good news is that inflation isn't much of an issue, and the cost of petroleum products is very low.

If one looks at the environment from a broader perspective, the effects of the Digital Revolution become more evident. The Digital Age is about increased automation (productivity) and connectivity (communication). This powerful combination should lead to continued innovation and social change. We are becoming more connected via the internet. Systems and applications are helping companies become more productive, requiring fewer employees. Many occupations are fading away. The ranks of the long-term unemployed may be growing into a permanent underclass. Job tenures are shrinking to the point that soon, the average will be close to two years. By 2020, it is forecasted that 25% of workers will be 1099 employees.

The Bank of England recently presented a report predicting the occupations likely to be impacted by automation. Sectors they forecast to be most impacted are skilled trades; caring, leisure, and other services; sales and customer service; process, plant, and machine operatives; Associate professionals and technical; administrative and secretarial. Occupational categories less likely to affected by automation are professionals, managerial, directors, and senior executives. Also, occupations that require a lot of creativity and human interaction, like interior design and decorating may be more difficult to automate.

The outlook I just presented seems bleak, however, it is not all bad news. Just take a look at CNBC’s Disrupter 50. A lot of innovation is occurring in the fields of Bio-Technology/Food Technology; Space Travel; Transportation/Logistics; Intelligence/Marketing Research; Financial Services ; Cyber Warfare/Intelligence; and Telecom. This information points to opportunities for managing your career.

[Tweet “Occupations requiring a high degree of an interpersonal transaction will still be in demand.”] Their tools and support will become more automated, so they will need less staff to support their services. Senior Executives, Planners, and highly creative personnel will likely be in demand, but here again, they will have more tools and less need for support staff. The trend to flatter organizations will continue, reducing the opportunity for middle management. The ranks of 1099 employment base will swell requiring government intervention to support these folks. The demand for professionals with STEM backgrounds will continue to facilitate innovation. We are moving rapidly into an “ad hoc” employment paradigm. We must adapt to the Freelance Economy.

So what of my fellow Boomers? Throughout our careers, we have learned to improvise, adapt, and overcome. We have the skill set to adapt, but I wonder if we have the mindset.

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Jim Weber, President
Author of: Fighting Alligators: Job Search Strategy For The New Normal
New Century Dynamics Executive Search