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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

View the most recent job postings and see our list of "up 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?

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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.

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Judith Cushman & Associates

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