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The Cushman Report

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The Cushman Report

Breaking News, Trends and Information about

the Communications Marketplace

September 1999

Here’s the long-promised "Story of Steve, Part One" It’s in two parts because it’s long. I’ll be sending the second chapter out in about three-weeks or less. (I know I can make that deadline because part two is written.)

The feedback about the new format has been positive, so we’ll continue to provide an index to different sections of the newsletter. Do browse through a brief rundown of current assignments attached to this newsletter. The jobs are also listed on our site with more detail.


THE MARKET - salaries are still moving up

COMDEX - it’s coming

NAME THE NEWSLETTER

UPDATE YOUR RECORD

THE STORY OF STEVE, PART I OF II

Success beyond expectations

Why has Steve been so successful?

Steve’s early career

His goals

His special talents

The connection that took him to the top

Tackling Media and Investor Relations

Trust

Fixing Public Affairs and Community Relations

Steve’s drive, energy and perspective about himself

A crossroads

The paradigm shift

Going back to school


THE MARKET

A brief note about the market, business is booming still, although there is the usual brief early September lull as everyone takes vacation before summer ends. Jobs are very hard to fill in the upper-mid ranges both on the corporate and agency side.

Cash compensation is on the rise. In almost every search we are conducting, clients are quickly upgrading figures as the cold reality of marketplace competition confronts them. Jobs formerly in the $90-110k range are now at a $130-150k base salary--just to stay competitive. I am seeing more of this on the corporate (versus agency) side since agencies (for the most part) are less able to recoup such significant unanticipated overhead costs.

Once potential corporate client was in shock when I told her that the jump they had made from the $100+ to $130+ level did not give them an advantage—it merely kept them in the game. She also told me her company was totally frustrated trying to fill what they defined as a senior post (but by new market standards was under priced).

Will this pace continue until the end of the year? My guess is we’ll see a slackening off of the feeding frenzy in the November timeframe simply due to exhaustion, combined with end of year slowdowns. However the long term trend lines are up due to a shortage of talented people.

We continue to be selective in accepting new assignments knowing how difficult and time consuming each search can be. There are no easy answers for anyone.

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COMDEX

In time for the next newsletter, we plan to have a COMDEX page up. We’re trying to get ahead of last year. Posted will be party information, helpful logistical hints, maps, hotel numbers and survival tips. We will have a separate mailing list for subscribers specifically interested in receiving updates about parties, special events and press conferences. Meanwhile, I’ve put together a conference/trip check list and form to use when arranging trade show appointments, I’d welcome any thought/additions or improvements.

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NAME THE NEWSLETTER

I’ve been writing a newsletter for two years and have never named it. So here’s a chance for you to be creative. Send me your suggestions. Titles need to be brief and somehow incorporate the ideas of career information for professionals in PR, marcom, IR, etc. The winner will receive a gift basket of Northwest delicacies and a sincere thank you.

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UPDATE YOUR RECORD

Please update your record. If you have not provided a personal e-mail address or the most current contact information, when you have finished reading this, please send a note to info@jc-a.com and help us complete your record. Virtually every response from subscribers providing contact information contained new details, which we entered into our database. Keeping our records reasonably current is quite a challenge. In the future, please don’t wait for us to ask. Tell us when you make a change. Thank you.

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THE STORY OF STEVE PART I

Success beyond expectations

This is a story of success beyond expectations. Where do you go when you’ve already arrived? Strange question, but one many of us are asking in this dot-com world. Is there life beyond a PR or marcom career and how can you make that happen? Is the goal to be in one of the top communications jobs at a Fortune 100 company? Or is it becoming very wealthy very quickly so you can choose whatever path you please, free from the constraints of having to earn a living? And then what? Is retiring at age 35 a blessing or a curse?

The story of Steve’s career is about all of these possibilities. His path, his talents, his sense of himself and my perspective about who he is and how he arrived at where he is today will all unfold as we proceed. It is a fun trip and one I have taken with him over a span of more than 15-years. All along his path we have stopped at critical moments for serious conversations and to evaluate his choices. We spent several hours one Sunday several months ago talking about his career, how he shaped it, and how circumstances, timing and luck helped.

Why has Steve been so successful?

Steve was destined for success, but of what size and scope? He had the tools to succeed, but in the end why has he come so far in the game while others, gifted in their own way, fall short? By age 40 Steve held the top corporate communications job at a Fortune 500 company in California. In just a few short years since, he has taken on management responsibility for creating and managing the customer experience for its on-line business and holds the title of Senior Vice President.

He started out by graduating from a school on the west coast in the center of a nascent technology marketplace. His interests were in journalism, international relations, Public Relations and photojournalism. His focus was the content side of media. Reflecting about career goals and choices from the perspective of his current position, Steve said he re-connected after 20+ years, with a passion dating from his school years, to run a media operation.

Steve’s early career

His early career track had all the earmarks of a winner. One of his first jobs out of school in the late 70ties was at a counseling firm with an expertise in Investor Relations. This early exposure proved invaluable as his career "clicked." For two years he was a reporter at a wire service that covered business news and the financial markets—a highly regarded and tough training ground for a career in corporate communications. In the early 80ties he transitioned to the corporate world leveraging his financial and business experience in two important moves (both in California) that enhanced his career significantly. They were mid-level corporate positions with top management exposure and impact. The second of the two opportunities involved an overseas assignment. Upon his return to the United States he became the Investor Relations Director. Steve had joined the company with only six-years of experience yet within two-years, was given a senior management job. I remember meeting him during his tenure there. (He stayed a respectable four-years.)

His goals

Steve was one of those talented people who was so focused on doing a good job that he was not particularly strategic or insightful about his own career. He simply rose to the top because of a combination of traits. He also was pursuing a straightforward objective—becoming the top communications professional for a Fortune 500 company. At that time career options were relatively straightforward. While interested in technology, Steve was not interested in a career with a technology company whose focus was to create a better mousetrap. If you were aiming for the top communications post at a Fortune 500, technology companies were not the best route to get there.

His special talents

I also remember Steve had special qualities. He was business savvy, intellectually gifted, and articulate. His news media experience honed the ability to think on his feet and to respond quickly (and accurately.) He also instinctively understood how to focus on his clients’ needs and to put his ego aside. Steve listened well and asked for advice with grace, acknowledging his listener’s expertise. He was also curious, deferential and respectful without being obsequious. He was always aware of his audience’s viewpoint and recommended solutions from that perspective. In short, he was the consummate counselor. That combination was rare and immediately appreciated.

The connection that took him to the top

When, as a result of changing corporate priorities and a sense that he had outgrown the job, a post at a Fortune 500 company on the West Coast was offered to him, Steve jumped at the opportunity. It was the late 80ties and he became the Vice President of Investor Relations, As impressive as that title seems, it was not a broad strategic position. Ultimately, Steve grew it to that level by virtue of his talents and the relationship he built with the Chairman and his direct reports.

Tackling Media and Investor Relations

Within two years he was put in charge of both Media and Investor Relations. The company was financially focused and technology enabled (or left-brained as Steve commented). The respect he earned came as a result of the IR side of his responsibilities. PR was regarded as artistic and creative, an area Steve thrived in, because he could work so well without defined parameters. For the Chairman (I surmise) Steve was a rare find. On the one hand, Steve could offer solutions based on bottom-line analysis - while relieving him of the problems of how to deal with the "softer" marketing communications issues.

Trust

Equally important to Steve’s success, and ultimately to any executive reporting to the Chief Executive, was the trust relationship that developed between them. Steve regarded the Chairman as his mentor and personally embraced his vision and values. These values also formed the basis of the corporate mission and guided the company as it built its reputation and image.

The Chairman knew that Steve would never fail him and would always see problems and solutions from his perspective. He also knew Steve did not have a personal agenda, and was totally loyal to the organization. That, combined with his innate intelligence, sense of discretion and ability to work successfully within the organization kept him at the "right hand" of the CEO. He became de facto, the communications "fix-it" guy. (That is a rather irreverent way to describe a Senior Vice President—which is the title Steve earned after six years with the company.)

Fixing Public Affairs and Community Relations

When legislative issues potentially threatened the ability of the organization to conduct business, Public Affairs became Steve’s priority. Once he was able to defuse the crisis (the bill was defeated), he hired a Manager so that the company could avert a similar situation in the future.

When the company decided to evaluate charitable giving policies and its foundation as critical components of the overall communications program, Steve took on the responsibility for the function (recommending policy guidelines and hiring staff). Again, once he had the problem under control, he moved on.

If at any of these key junctures, Steve had found his life’s calling (I’m being a bit facetious), he could have chosen to step into one of those jobs and the organization would have supported that decision. However, he enjoyed his broad role as the senior communications strategist, having won the confidence of the Chairman. (And, it was easier to make things happen when the organization knew Steve was the Chairman’s "guy.")

For Steve, I sensed there was something almost addictive about being so close to the center of power, with the potential for influencing and shaping policy as well as the image of the company. He never flaunted his success and there was almost a "gee whiz I can’t believe I’m really that good," sense about him. He was accessible and down to earth. His focus was always to look ahead (uphill, of course) and move at top speed. By 1994 he was a Senior Vice President, and in 1995 was named Chief Communications Officer.

Steve’s drive, energy and perspective about himself

Was there the slightest touch of insecurity that drove him and never allowed him to rest on his prior accomplishments? Was it a sense of mission? He so closely identified with his Chairman’s vision that he had internalized a sense of urgency – always ready to meet the next challenge and to keep ahead of the competition. Steve maintained a realistic perspective about himself and his work. His enthusiasm, energy and sense of having fun (most of the time) drew people to him. His grace in handling difficult situations—yet he made his points – meant that he didn’t bruise egos. He won the respect of managers both inside and outside of the organization.

A crossroads

And so, we reach the end of this career path. Steve had joined the company in the late 80ties and was two years away from his 10-year anniversary. He had the top job—the one he said wanted to be in by the time he reached the end of his working career. He was 40 and it was not enough. Yet, what was the next great thing? No one could tell him.

The paradigm shift

Did he have a vision that would take him beyond traditional answers? Could he articulate a logical direction aligned with a business strategy? No, he couldn’t and part of the reason was that there was no strategy out there. He had to rely on instinct. Here is where he tapped into a long simmering passion and fascination with the media, technology and now, on-line communication.

He felt drawn to participate somehow in the paradigm shift that was just beginning to happen. He knew that the Internet and its impact on how people share information, communicate and think touched core values. For Steve, it was impossible not to act. The status quo was not fully satisfying, especially when he knew he would be missing an exciting adventure. Yet it took enormous courage to make a change and focus on putting his needs first. That was a revelation. His entire career had been built on putting organizational priorities ahead of his own.

Going back to school

And so what did he decide? It was time he felt, to go back to school, to get a second Masters Degree (he had an MBA) in New Media at one of the most competitive schools in the country. He would be immersed in both content and technical aspects blending communication, business and the computer sciences. It meant being willing to leave his company and the job he had worked toward for his entire career.

In the next issue we’ll see where Steve’s decision took him and what his company did about it – tune in.

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