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The
Cushman Report
Breaking News, Trends and Information about
the
Communications Marketplace for Senior Professionals
Summer / Fall
2010
Part 2 (Click
here to view Part 1)
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JOB NEWS
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and coming" opportunities.
Career Decisions in the context of the
“New Normal”
This is the second of a 2-part edition of
The Cushman Report, Summer/Fall 2010.
In the first part I
discussed the paradigm shift in the Investor Relations function. This is
triggered by the change in the concept of “Valuation” which has broadened
to include the “hard” numbers as well as the “soft” metrics of reputation,
branding, sustainability and governance. The need for a closer alignment
between CorpCom and IR coupled with breaking down silos is essential, in
my opinion.
The need to tell a coherent and consistent
“story,” I contend belongs in the office of the CEO. Who will lead this
complex challenge? I see the group that has the strategic vision, broad
scope and clearest alignment with business goals taking on the role. The
CEO must trust the executive in charge of the initiative to share his
vision and be a persuasive influence, convincing the leadership team to
support the organization’s “story.” I see no compelling reason why IR or
CorpCom “owns” the role; the right to it must be earned.
In this issue, the focus is on 4 key factors
to evaluate in making a career decision. The “New Normal” is about
challenging financial times ahead. There is a greater risk to each job
change and the ability to recover from a misstep is more difficult.
Thinking in 5-year increments puts the right focus on career strategy
versus short term gain. I wrap up with a list of 10 Tips to consider
focusing on the “personal equation.”
For details about a new search, for a
Director, Communications (Healthcare) Puget Sound, WA see our
JOBS section.
-Judy
4 RIGHTS
TEN CAREER TIPS
4 RIGHTS
As capable as we are about presenting the
story of our respective employer to key audiences, we all seem to have a
blind spot about how to evaluate career decisions. What factors should we
consider in order to avoid making a choice that in retrospect we should
have known was not a fit? Here is my thinking on 4 factors that need to be
looked at from a personal as well as from an organizational perspective.
I call this, "Right Person, Right Job,
Right Time, Right Company"
“Right Person”
|
From the HIRING
ORGANIZATION’S perspective
Hiring the “right” person is not about being the most
qualified candidate; it is about being qualified and “fitting” the
organization. The hiring company focuses on a match between the
candidate, his/her superior and the team surrounding the supervisor.
Generally a job description attempts to pin down the specifics of the
job, but do not be surprised if the actual position turns out to be
quite different than what you read. That is why being the right person
for the job is the wrong approach to take and frequently why instinct
and “gut” win out over relevant experience when the hiring team picks
the finalist.
Qualities like, energy, enthusiasm, curiosity,
intelligence and the ability to “engage” with the hiring team are
critical in evaluating you as the “right” person. (Do not confuse
being the “right” person with being a “good or great” person. They are
entirely separate.)
Being the right person for the organization and the
department is the focus that makes sense. Where you can run into
trouble is if there is a management reorganization and you are now
reporting to a new team. |
From the
CANDIDATE’S Perspective
First you need to look at the situation with the emotion
removed from the equation. This is not about thinking you are a “good”
person if you are a finalist and a “bad” person if you “fail” to make
the finals. This is about demonstrating you have the qualifications to
be under serious consideration. Then you have two questions to answer:
1) Do I want to be a finalist for the job? (Do I feel this
is a fit?) and,
2) How successful can I be in this position considering
what I know about the people and the culture?
If you decide the position is worth pursuing, dig deeper
and ask yourself, “Where have I been most successful and why?” If you
have some examples and can share them in an interview, probe (in a
respectful way) to see if there are similar opportunities and
expectations. If you are sensing that this opportunity is not a fit,
drop out. Do not waste your time. You know better than a stranger what
work environments make you happy and where you do your best work. Do
not second guess your decision. |
“Right
Job”
|
From the HIRING
ORGANIZATION’S perspective.
The organization has a near term goal that hopefully will
turn into a long term solution—which is to hire a talented
professional who is qualified to do the job at hand and stay. This can
be tricky since most companies are not good at defining the job but
they think they know what they are asking for.
Often the process of revising the job description can be
used to develop alignment among the hiring team. Even if the
description then turns out to be imprecise, non-specific and lacking
in metrics, the effort is what matters and speaks to the culture of
the organization.
A job description rarely describes culture or problems to
be solved. It talks about tasks and responsibilities, which at the VP
level are not the real priorities of the job. In my opinion, the job
description is the least helpful element in filling a position.
Companies are very unlikely to commit to describing growth
opportunities in any meaningful way, which is critical for a
job-seeker. Often, the most senior communications position will not
have a path to future promotions. If an incumbent is successful, s/he
will have to feel confident that s/he will create those opportunities.
In short, there is a fundamental challenge in figuring out
what job an organization is actually filling. |
From the
CANDIDATE’S Perspective
One of the most important questions a job seeker should
ask is, "What is my next career move?" To look for the right job means
evaluating the near term challenges in a position and then saying,”
I’m planning to be here (for 5-years at least) for the long haul and
what promotional opportunities for growth can I anticipate? Where
might that be in this organization?” With the exception of being hired
for the most senior post, if there is no longer-term opportunity, I
would not pursue the position. (Of course, the exception is needing a
job and not having time to wait for a more ideal situation.)
Given the lack of detail in job descriptions, it is a
challenge to uncover sufficient information to decide if a job is a
fit. Sometimes the job is defined by what the prior incumbent did not
do well—so that is (over) emphasized and can be discovered by talking
about the history of the position. Sometimes the job is a slightly
revised version of the existing description which means the
organization is not looking at what the future needs are. When
there are no links to strategic objectives, the position can fall into
the trap of being a responsive catch-all.
Doing your homework and thinking about how the job might
support publicly stated goals can start a thoughtful conversation. If
possible, talking to the executive team and finding out what they
think needs to be done will be useful. Gathering this information and
having a discussion with the hiring manager about the position can
tell you what the real challenges are. If the hiring team is
uncomfortable with this approach, take that as an indicator that the
culture is top down and discourages give and take.
Before interviewing for a job, analyze the work style of
your most successful supervisor and the most rewarding culture you
have experienced. Compare those characteristics with what you
understand the about the job and the company. Being able to articulate
that to a potential employer can also spark a discussion. Also,
explaining what “success” looked like in your most recent/current
job, should lead to comments about metrics for success with your
potential new employer. If there aren’t any, that raises red flags
about how little thought has gone into defining the post. |
“Right
Time”
|
For the HIRING
ORGANIZATION
Usually, the timing question is quite simple. The position
will be filled as soon as possible.
The company, however, needs to look at the idea of “Right
Time” in light of the stage of growth it has achieved. It is important
to identify candidates that have experience in organizations at
similar stages. For example, a company that has been on a fast track,
growing at an impressive rate, and is now leveling off, should look
for candidates who understand how to utilize communications/IR tools
to compete in a mature marketplace. That experience may be valuable
through a transition where current employees must adjust to the
culture change.
Or, if the company is moving out of an early stage
“entrepreneurial” phase to consolidating and putting systems and
structures in place, the right hire is very different from someone
with a “just do it” mindset. S/he is more process driven and is happy
bringing order and procedures in place. Start-up executives cannot
tolerate being in a job at this point in the organization’s life
cycle. From their standpoint this work is “no fun at all.”
|
For the CANDIDATE
This is a question that is most often overlooked when a
candidate is considering a move. It is critical to take stock of a
variety of personal issues that lead to a decision that balances
career ambitions with family and economic priorities.
The "right time" to consider a move is first to think in
5-year increments. So the right time is a more strategic question,
“how do I balance family, career ambitions and financial
considerations looking ahead 5-years?”
If a candidate finds an opportunity where no relocation is
involved, that makes the decision making much less complicated. If
taking on a new assignment requires a move, then family
responsibilities and housing/financial considerations take on greater
importance.
I see senior
level professionals coping with personal crises as aging parents
suddenly can no longer maintain their current life style.
Or, a medical emergency occurs where a parent is hospitalized and the
mature son or daughter takes on the responsibility for managing care.
While no one can predict these events, it seems inevitable that,
unfortunately, these situations will occur. How does responding to an
emergency fit in with work demands particularly if the parent is in
another city? Will taking on a new assignment be too demanding under
these circumstances?
While aging parents
require care, children in high school benefit from stability and
attention as they make decisions about their future. Looking ahead, if
there is a move, how will that impact them? If you do not wish to
disrupt them, will putting career goals aside for several years, be in
the family’s best interests? Often families are coping with demands
coming from both directions.
Financial risk is an
issue as housing values remain depressed. Moving when a new employer
will not purchase a home, means the risk is assumed by the family. The
loss of equity in the home may be too great to absorb and the decision
to remain in the current house may be the prudent decision. |
“Right
Company”
|
From the HIRING
ORGANIZATION’S perspective
The “Right Company” in this context is one that accurately
describes its values and goals along with a snapshot of where it is in
its growth curve. The company has a realistic picture of where it fits
among its competitors and what challenges it faces. There are many
“Right Companies” with the ability to make sound business decisions
and to compete effectively. These organizations often find it is
difficult to describe their culture to outsiders in a way that is
insightful and relevant. However, they can generally respond to a
question about someone "fitting in." |
From the
CANDIDATE’S perspective
Since executives at hiring organizations generally have
difficulty explaining their culture, determining if this is the “Right
Company” for you over the next 5-years (at least) is challenging.
Knowing at what stage in a company’s growth you have been most
effective will help determine if this new company is at a similar
point. Does the scale of this company roughly equate to prior
organizations where you have worked? Do you work best in a flat
organization? Is structure important to you? Is this company very
disciplined in its planning processes?
Do you find what the company does very interesting? Are
you being asked to be a change agent? (That is a minefield.) What are
the most appealing aspects of this company? |
TOP
TEN CAREER TIPS
At the NIRI National 2010 Conference, I led a
workshop, “Framing career choices to advance to the next level”. I
offered a list of 10 Tips under the heading “Strategic Decision Making:
the Personal Equation”. Here they are. Panelists provided their lists
which are posted on my site.
1. You are responsible for making the best
career decision for yourself. Listen to your instincts and “gut”. If you
are unhappy in a job or feeling uneasy when you interview for a new
position, there is usually a good reason. Figure out what that is. Don’t
ignore it.
2. When you look at job opportunities either
inside or outside your organization recognize that you are not “job
hunting”, you are making a career decision. Can you describe how the
position fits your career goals? If you cannot, you are not ready to make
a “job decision”.
3. Look at a job decision as a 5-year
investment. If the job you are hired to do has a life span of less than 5
years, where is the opportunity for a promotion? Can your employer
describe a path to further growth? Is that the track you wish to pursue?
Or, if you are in the most senior position, do you have confidence in your
ability to create opportunities?
4. Stability matters. When you are building a
career track, it is acceptable to stay in positions for relatively short
stints—2 to 3 years. Once you reach the mid-career level with 15 years of
experience, you should ideally have 5-year “runs”.
5. Understand the culture of the organization
you join relative to the intensity of the work commitment. The IR/CorpCom
role can be all consuming depending upon the stage of growth of the
company—or not. Know your limits and don’t be tempted to over commit.
6. Balance between work and family demands is
extremely difficult to achieve. As you look ahead 5 years, understand what
your family needs are. During the most demanding times at work as you
reach Director/VP levels, you may find yourself squeezed between caring
for children and caring for aging family members. Family comes first.
7. Recognize when your personal values
shift. In the early phase of your career you put work first and drive to
get ahead. As you achieve success, you may decide you are satisfied with
your current situation and want to remain in that position for several
years. The decision to “stay in place” is valid.
8. The most ideal time to capitalize on your
work experience for a top IR or CorpCom job is with 20-25 years of
experience. Look at that timeframe and work backwards. If you are not
seeing a path to that role in your current organization, make a clear
decision about what to do. You can either accept the situation or make a
strategic move to better position yourself for that role.
9. The path to a VP IR or CorpCom role in a
major company is oftentimes not at that company. Major corporations offer
mid-level positions in specialized aspects of these functions. To get the
breadth of skills and leadership experience, join a smaller company with
broad responsibilities and then move to a larger company.
10. Integrity is one of the hallmarks of the
most successful IR and CorpCom executives. Do not compromise. Your
reputation, built through years of relationship building, is one of your
most valuable assets.
TOP
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