Executive Insider is a biweekly newsletter designed to help you succeed with Job Search, Career Advancement and Self Development
Issue Dated: June 29, 2009
A. Letter from the Editor
A talent pool with a wealth of qualities that only come with age. That's how a friend in the executive search business recently sketched out the silver lining — from an executive hiring perspective — in today’s evolving economy and challenging business and job search environments.
Most everyone — regardless of age — has reworked their own retirement scenario, given how nest-egg savings have taken a hit over the past several months. And our ExecuNet team has long been interested in age-related job search dynamics. The notion of just how age and experience and the wisdom that comes with both are being valued more by companies as they look at the serious talent that’s available in the market today is an exciting one. Experience can only help inform the enterprise as so many businesses continue to navigate uncharted waters.
It should go without saying that the value of that wisdom and experience is proportional to our collective ability to learn from those who’ve confronted multiple economic, market and organizational challenges before. Now more than ever before, bringing an open mind and stretching oneself to absorb key learning from the deans around us is a prerequisite for career success. That's a lesson I'm learning more every day.
We might all expect to stretch our expectations of retirement. The upside for organizations moving forward is continued access to knowledge and experienced leaders who can help instruct us to avoid repeating their mistakes.
Steering clear of obstacles will enable us to pursue what’s really vital, both professionally and personally. May the teaching and learning enrich us all!
Sincerely,
Joseph Daniel McCool
Senior Contributing Editor ExecuNet
295 Westport Avenue, Norwalk, CT 06851 jdm@execunet.com
800-637-3126
Thought for the Week
We are always more anxious to be distinguished for a talent which we do not possess, than to be praised for the fifteen which we do possess.
— Mark Twain
B. Recruiter Confidence Stabilizes Amid Mixed Signals on Economy
Search Firm Confidence in Executive Employment Market — Projected Next Six Months
Source: ExecuNet
ExecuNet’s benchmark Recruiter Confidence Index, a forward-looking barometer of the health of the executive employment market over the next six months, continued to post in the positive range in June, with 53 percent of 150 responding search consultants indicating they’re "confident" or "very confident" the market for senior talent will improve over the next six months.
The June data followed historical seasonal trends showing a slight softening from May, when 57 percent of responding recruiters expressed similar levels of confidence in future demand for management talent.
Executive recruiters are measurably more confident in the executive hiring environment in recent months compared to the end of last year and first couple months of 2009. Some continue to report that they expect a stronger finish to the year, and others have expressed guarded optimism that job search cycles will soon tighten.
C. Managing "Survivor Syndrome"
On the television reality show "Survivor," each contestant’s main goal is to avoid being voted off the island. In the current job market, the goal is the same. However, remaining on the proverbial island (also known as your organization) does come with its own set of challenges. According to a recent report issued by The Conference Board, many of those left in a company after a succession of layoffs will now have to endure "survivor syndrome."
Once the dust settles after a downsizing, many experience a feeling of "us against them" when thinking of themselves and remaining management. Other symptoms "survivors" may encounter include decreased motivation, engagement and productivity. The report notes that the syndrome develops over three phases: strategic decision making, survivor perception and survivor reaction. Stephanie Creary, a research associate in human capital at The Conference Board, points out that the management team must pay more attention to communication, transparency and trust in order to effectively manage the remaining organization’s view of a recent downsizing.
"It is about taking a strategic approach before, during and after the downsizing so management teams will be able to extract greater employee motivation, engagement and productivity, and foster the performance of the business over the long term," says Creary. Other strategies organizations can utilize to keep remaining staff on board include internal communications, such as blogs or brownbag lunches, and providing learning opportunities and training to facilitate job changes and career path transitions as a result of a recent reduction in force to successfully survive the downsizing process, Creary says. It "will depend not only on the processes that are used in execution, but also on the level of commitment that the management team has to re-engaging employees at all levels," she adds.
D. Building Your Personal Leadership Brand
In today's turbulent economic times, only the strongest brands will survive and actually thrive. Not only is this true for businesses, it's true for the executives who lead them. Just as major corporations promote their core products through extensive marketing and branding campaigns, executives must do the same to promote themselves within their company and their industry.
With the increased competition in the job marketplace, these days, more than ever before in recent memory, it's crucial that executives create their own brand, one which accurately depicts who they are as leaders and what they are capable of providing. Executives with a successful personal brand have positioned themselves for continued success within their current organizations as well as in future endeavors.
In this Lessons from Leaders compilation of peer information, leaders from the General Management and Human Resources Roundtables share their insights on building an executive's personal brand. Here is an excerpt of what they had to say:
"Just like any good marketing program, you need to think through what you want your brand to represent and make sure you keep a consistent look and feel. Over time, you want people to associate a specific thought with who you are."
"I use several social media platforms (LinkedIn, Facebook, Twitter, Plaxo) to build my personal brand and nurture my network."
"...by participating in targeted networking groups, volunteering for committee work and maintaining high visibility amongst your peer group, you'll get the name recognition required for branding yourself."
E. Finding Executive Jobs in the Current Economy: How to Change Your Strategy Now
Adapt your search and accelerate your transition. In the current economy, it may take a year or more for executive job seekers to find their next job, unless they quickly adapt their search strategies to changing market conditions. Accelerate your job search! Join Tucker Mays and Bob Sloan to learn:
Seven proven techniques to find your next job faster
Why conventional approaches don't work as well
How to overcome major obstacles in a challenging economy
How to adapt your job search as key sectors decline
Tucker Mays and Bob Sloane are the co-founders of OptiMarket LLC, an executive counseling service working exclusively with both currently employed and in-transition senior-level executives whose compensation is $200k and above.
BONUS OFFER
You will also receive a Career Search Survey. Once the survey is received and reviewed by Tucker and Bob, they will schedule a FREE Career Search Critique with you!
For more information or answers to your questions, click here.
"Thank you for the periodic words of wisdom and encouragement. The job search process is very interesting and very much a people oriented (networking) process. I have made several new networking contacts through ExecuNet."
In today's turbulent economic times, only the strongest brands will survive and actually thrive. Not only is this true for businesses, it's true for the executives who lead them. Just as major corporations promote their core products through extensive marketing and branding campaigns, executives must do the same to promote themselves within their company and their industry.
