THE STORY OF VINCE

A Career Dilemma in the Midst of Uncertainty

The impact of the Dot Com shakeout has affected career decisions and strategies throughout the country. Maneuvering through the minefields and uncertainties as the economy shudders, challenges the talented, ambitious and mobile performers. These are outstanding professionals who expected to be employed and sought after -- in short, calling the shots about their future. Now, the tide has turned and all the assumptions they made are being challenged. There is no safe harbor, no clear answer about the "winners," yet decisions must be made because these high achievers see no future, or more precariously, are unemployed.

This article is about "Vince" who is living that reality. As we read his story, I hope you will gain some insights about your situation. In addition to Vince, I will describe "Paul," in April’s issue, who is job hunting after making a move in the heyday of the market frenzy, only to be cut back with no parachute, less than 9-months later.

Vince’s Career Track

I’ve known Vince for several years and have seen his star rise with a leading Fortune 100 technology company on the East Coast. He majored in print journalism and his degree was from a school that turned out qualified, hard working reporters. He did not have the "Ivy League" credentials that opened doors. Vince worked hard to succeed, nothing was handed to him. He had a journalism career that in earlier years was typical of the PR professional who paid his dues and learned the "writing and media game." It is rare to see that background today. He spent over a decade moving from reporting to editing positions at a variety of trade publications.

Like so many journalists who love reporting, the time finally came when he looked at his future, to his financial and family obligations, and realized that the publications field was not a path to significant advancement. It was time to find a new, lucrative career. Vince was not a risk taker and keenly felt (and still feels) his responsibility to his wife and children. As he looked for an opportunity to transition to the corporate world, stability, reputation and depth within the communications/PR department mattered.

A Corporate Move

In the early nineties he moved to a company that met all his criteria. His employer was attracted to him based on years of experience in hiring editorial professionals who had the discipline, maturity and grounding to succeed. The corporation valued his "ability to get the job done."

What they didn’t know when they hired him (nor did he) was his visceral, instinctive understanding of how to approach reporters. He could work with the most important publications and other media to tell a compelling news story that met corporate objectives. And, he thought it was fun -- no matter how much work was involved.

He loved being a "player." Vince knew how to handle a crisis, how to counsel senior officers and how to help them win in the positioning game. His integrity was unquestioned; his energy impressive and he was right on in understanding how a story would unfold. His judgment was an asset senior managers learned to trust him. Very quickly he became a "go to" guy. He was the one who had the reputation for turning press coverage around and taking unexciting products and making them an exciting story.

Promotion followed promotion and Vince realized that he had found his niche. He loved doing his job. He was not a political animal and didn’t play games or get involved in office politics. He delivered results where management cared and was paying attention. He started out as a single contributor and at one point managed multi-million dollar budgets and a staff of over 15. But he was not at his best spending time supervising other people working with the media. He loved being "out on the street" getting the news, hearing about what competitors were doing, and bringing that intelligence back to his managers.

He was on track to move up the ladder and make a career with the company for as long as he wanted to stay, but was that the best choice to make? It had been seven years with one company -- the only company he had known (what a rarity) and that was a concern. Over these years we had periodically looked at how he felt and how he evaluated his career path. At various times he was ready to take a peek at jobs outside the corporation, but just as he began the process, another promotion came along. Each time he considered how he felt about the company and the risk in making a move. He chose to stay each time.

A Reason to Change

Vince, at his core, would not take a job that could jeopardize the well being of his family. In those seven years, although he had flirted with the idea of a change, he had never found a compelling enough reason to forsake the security, prestige and recognition for an unknown -- that is until the dot com boom that peaked early in 2000.

By now, Vince’s reputation had spread. He was involved in many high visibility projects and had been spokesperson on several where practically every media outlet in business and technology covered his company’s announcement. Vince was hearing from "headhunters," friends at other companies, and agencies who knew how effective he was. It was a wonderful time to be at the top of your game in PR and Vince was.

The siren song of start-ups and the opportunity for real wealth finally pried him loose in the spring of 2000. Vince thought there was virtually no risk in making a move because there would be another job around the corner. All he had to do was answer the phone. A former executive from his company had taken a key role in a start-up and tapped Vince to jump for a VP title.

Knowing the executive gave Vince a sense of security, but in hindsight, he realized the executive was untested in his new leadership role and he should have seen how much risk there actually was.

He decided to take the offer. It seemed to make good financial sense. With the bonus that he actually received, his earnings doubled from his prior base in the six figures and, with options, the total package was seductive. He was responsible for all communications and worked directly with the entire management group. His placement, a story in the Wall Street Journal for the organization, according to the CEO, "was responsible for a $2 million increase in value of the company."

Vince could see a direct connection between the company’s balance sheet and his performance. It gave him a depth of understanding of business operations that was impossible in a larger company. For all this good news, the evil problem of second round financing was looming. Today, the company is still seeking financing and Vince is getting restless. He is the head of communications for a small player and competes for attention, along with all the other young companies in the category -- an e-commerce start-up with an entertainment connection.

A Time to Change

Vince doesn’t like being away from the action. And, now there are real questions about the company securing financing. His chief executive, like so many, must assume the role of cheerleader and so Vince cannot be sure that what he hears is actually what will play out. He knows that he is expendable if financing falls apart. He is coolly analytical about the decisions that a company must make if it starts to fail. He does not want to wait around for the final word this summer about funding.

We had a long and serious talk about what he really should consider. We agreed that he should play to his strengths and find a top-flight corporate media relations position. He has had his fill with small companies and said that he regretted making a change for money. I corrected him and said it was not for money -- but for an opportunity to be rich which really was different. But, now what can he do? The calls from headhunters have not been coming in and yet it really is time to exit.

This moment is so important for him. He will shape his future by the job he takes and how potential employers interpret the choice (for the job after this one). If he moves to another major corporation in the media relations area, he is saying I’m back on my original track where I want to be. If he considers an agency move, that could slow him down from his goal of a top spokesperson role on behalf of a Fortune 500 CEO. Would a mid-sized corporation and a job as head of communications help?

His Choices

Here is where Vince is in his process. He has heard from a top technology hardware company. The interviewing schedule is moving ahead, but slowly. There are no guarantees because in these times the corporation has choices. The job may not be a "step up," but a good "placeholder" until the market picks up.

Another position to head up a prestigious international account with a top 10 agency is an option. However, the agency has reported layoffs and there may be internal candidates with more seniority who could vie for that job (although he has been assured that won’t happen. Do I really believe that?) There is also the possibility that he may be offered the post and then find that it is eliminated due to cost cutting, fairly soon, which is endemic.

Agencies are just beginning to respond (some convulsively) to the loss of accounts and have not yet realized the full scope of the trimming that is needed. The interviewing pace has slowed down and it is even a possibility the agency may not fill the job.

A third opportunity is with a corporation in the telecommunications industry that would require a relocation. Here there is a double risk -- what if he moves and the job is a disappointment? The telecommunications sector is unsettled and consolidations are expected. Will he be on the winning side?

And, finally, within the past few days, Vince has been interviewed (first round only) by a boutique, media-savvy agency seeking a senior manager. Vince would be learning about broadcast media while working with top corporate officers nationwide. This move would only be an interim step to his long-term goal.

What to Do?

I asked what he would do if the job at the top 10 agency were offered to him. He said he would take it due to the prestige of the account and the size of the PR agency. His first choice would be the corporate media relations role, since that puts him squarely in the direction he wants to take. He is very unlikely to take a job that involves relocation, particularly at this time. The newest situation has pros and cons that are unanswered at this early stage.

There are no easy answers for Vince, as there are no easy answers for many professionals. These executives expect to make a smart move at a time when what is possible may be only a good "interim" move until the market regains lost momentum.

I’ll let you know how this turns out.