Archive for October, 2008

ON DEMAND: Developing an Appropriate, Comparable and Relevant Nonprofit Compensation Structure




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Topic: Developing an Appropriate, Comparable and Relevant Nonprofit Compensation Structure
Duration: 45 minutes

Summary: This OK Webinar will focus on current trends and emerging topics in compensation in nonprofit organizations. While for-profit and nonprofit companies have similarities in terms of compensation issues, nonprofits must grapple with a whole host of issues from a different vantage point. In addition to attracting and retaining the talent necessary to achieve organization mission goals, nonprofits must ensure that they are being good stewards of the funds with which they are entrusted by donors, benefactors, and customers. In order to reach this balance, each nonprofit must establish and successfully implement a comprehensive total rewards strategy that is consistent with the mission of the organization. This webinar will walk participants through the decision making process for nonprofits dealing with base compensation, pay for performance and variable pay.

Participants will learn: By participating in this webinar, participants will gain a thorough understanding of current and emerging trends in base compensation, pay-for-performance, and variable pay in nonprofit settings.

Base Compensation

  • Discussions will take place regarding the philosophy and implementation of merit budgets in nonprofit environments.
  • Participants will gain an understanding of how to navigate the unique challenges presented by nonprofit environments in establishing pay structures and ranges that allow for the attraction and retention of top talent while not leading to excessive pay.
Pay-for-Performance and Variable Pay

  • Participants will learn some of the benefits, as well as some of the dangers and pitfalls, of implementing a pay-for-performance culture in a nonprofit organization.
  • Ideas on establishing bonuses and other variable pay will be presented.
  • Conversation will address setting performance goals that reinforce the mission and match the culture of the organization in nonprofit environments.
Who should attend:
HR Managers and Departments
Executive Directors

Cost: $44.99

OR

$79.99 which includes a copy of the The Opportunity Knocks 2008 National Nonprofit Wage and Benefit Report (Value $39.95).

“This topic is particularly timely. Given the financial climate the utilization of alternative compensation methods will be essential to non-profit organizations ability to retain top performers while working with limited budgets. The trainers approached this topic with specific ideas for addressing these challenging issues.” –HR Innovations, LLC

Presenters: Phil Blount and Barbara Mackintosh, Phillip Blount & Associates

Faculty bios:
Phil Blount is President and founder of Phillip Blount & Associates, a HR management consulting firm founded in 1996. He began his career with a Fortune 250 industrial organization in accounting, human resources and line management. He then spent the next 15 years with the Hay Group where he was Vice President and Managing Director of the firm’s operation in the Southern United States, and served on the North American Strategy Committee. Phil holds a BBA in accounting from the University of Georgia and a MBA in management from Georgia State University and is a recipient of WorldatWork’s Lifetime Achievement Award.




Barbara Mackintosh is Manager of Consulting Services for Phillip Blount & Associates. Barbara is currently involved in an on-going variety of human resources consulting projects including base compensation design, incentive design, executive compensation, assessment and training, performance management, and organizational effectiveness. She holds a Bachelor degree in Psychology from the University of Georgia and Masters degree in Industrial/Organizational Psychology from UNC-Charlotte. Barbara is an active member of the Society of Human Resource Management, WorldatWork, Atlanta Area Compensation Association, and is a Certified Compensation Professional.


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10/23/2008 - A Non-Profit Vs. a For-Profit Position: Tips for Determining the Right Job for You



by Carol Gee

You’ve been job hunting for quite sometime now. You’ve passed out countless resumes to everyone who reached for it and thrusted it upon those who didn’t. You’ve been on several interviews, at numerous organizations, yet none of the jobs seem quite right. A friend tells you about a job that he thinks might be perfect for you. Upon reading the job description you learn that the job in question is with a non-profit organization. You’ve heard a lot of negatives about these types of positions:


  • They pay low salaries, have little to no benefits
  • They are constantly seeking funding
  • They lack professional development opportunities


So how do you know if a non-profit job is right for you? Perhaps a better question may be how you know that any position is right for you? The short answer is that you don’t. Whether you are considering a non-profit position or a for-profit position requires preparation, lots of research and asking yourself several important questions. By performing an honest self-assessment of your needs, your answers will determine whether a particular position is right for you.

Start by asking yourself what sort of things interests you. Do you have a particular interest or a cause that you feel strongly about? For example, does working for agencies that provide services to children or the elderly appeal to you? Are you are concerned about the environment and what you can do to help to conserve our precious natural resources? Are you channeling Picasso? Does your inner Van Gogh long to burst free on a blank canvas in your spare time? Then a position at a non-profit that focuses on the arts would be a natural.

Other self assessment questions might be do you prefer to work in a small, medium or large organization? Do you want to work for a local or national organization? Would you be happy with the typical 9 to 5 working hours, or does your personality, family dynamics or interests require flexibility in your work schedule? Lastly, are you willing to travel? If so, how often?

While salary should not be the only reason that you accept a job whether a nonprofit or a for-profit, obviously salary is an important reality to an individual’s job search. As a rule, non-profit salaries vary greatly by type of organization and budget size. Assessing healthcare or other company benefits associated with a particular position are also equally important.

This self assessment is particularly important to those in senior management positions whom might be considering transitioning into the non-profit world after working in for-profit organizations. Because the organizational culture in non-profits is often worlds apart from the corporate culture that they are used too, it is important for these individuals to determine whether a non-profit position would provide them with enough of a challenge to be rewarding.

Learning as much as you can about the organization should be the next logical step. Begin by checking out the organizations’ website. This should give you a general overview of the organization. For example, expects say that the way staff names are listed on the organization’s website can provide clues as to how hierarchical the organization is. Reading an organization’s annual report and its IRS 990 should also provide information on officers, board, its mission, programs and finances.

Having done your self assessment and research, you decided to apply to the position. Right away you’re invited to interview. During the interview other unanswered questions remaining about the position, the organization and the culture are clarified.

The reasons that individuals choose to work in any organization whether for-profit or non-profit are numerous and often personal. Before accepting my current position I worked for 10 years as an administrator at Emory’s School of Public Health. RSPH’s research potential to save lives and benefit communities meant my salary was dependent entirely on research grants. For me, however, valuing the ”end product” of working on projects that helped others far outweighed the instability of how my salary was generated. For I believed then, as I do today what Mahatma Gandhi believed, “That the best way to find yourself is to lose yourself in the service of others.”



Carol Gee

Carol Gee, M.A. has worked in education for 26 years in positions ranging from teaching to administration. Currently she is an editor and business writer at Goizueta Business School at Emory University. She is also the author of books, The Venus Chronicles and Diary of a ‘Flygirl’ Wannabe (Life Lessons of a Cool Girl in Training,) and a contributor to the baby boomer book, Age Smart-Discovering the Fountain of Youth at Midlife and Beyond.

www.venuschronicles.net
venuschronicles@aol.com

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10/20/2008 - Connected Recovery





By Allison Fine

In the last twenty years as the nonprofit sector has experienced dramatic growth there have been just a few mild economic downturns, such as in 2001-2002, but for the most part this modern era of activism has been an unending stretch of growth in the number and size of donations. Until now. Given our dependence on voluntary giving and government contracts, nonprofits are going to be hit hard, perhaps harder than any other business sector, in the next few years during what is certainly a recession if not an upcoming depression.

So, what’s a nonprofit organization to do in these frightening economic times?

Others have been doing a terrific job of advice giving on how to budget and plan better in these tough times. Todd Cohen has been providing advice on his blog, Inside Philanthropy. The Chronicle of Philanthropy is also helping nonprofit organizations that have traditionally received government funds that may not be available now to think creatively about their finances. I’d like to add my thoughts to these on the critical importance of getting more connected to your constituents as part of your survival strategy toolkit.

I used the term “connected activism” in Momentum to describe the intersection of social media and social change efforts. It means using the myriad new, social media tools like blogs and Facebook to have real conversations with your constituents. It means working through networks of activists rather than trying to “own” a database of donors. It means pushing power to the edges rather than trying to control strategies and messages from the top down. It requires organizations to be very agile to expand and contract in keeping with the natural rhythms of their issues and resources rather than trying to continuously grow bigger on a financial spreadsheet. Most of all it requires a shift in mindset from power and control to participation and inclusion – a shift that is much easier said than done for older organizations that were successful in last century’s fundraising environment.

The key to becoming all of these things is increased connectedness; real, meaningful interactions between you and your constituents. Not the broadcast, controlled messaging of the past, but real two-way conversations that connects people, whoever and wherever they are, to your efforts and creates a wider network of participants and supporters.

A natural human reaction when the world becomes an unfriendlier place is to withdraw to one’s comfort zone and press ahead with tried and true strategies. This is a huge mistake for nonprofit organizations. Going once more to the direct mail well will not only yield less but take up time and energy that they don’t have to waste.

So, here are five ways to increase nonprofit connectedness that will yield greater capital for nonprofit organizations. Please note: I am not talking necessarily about just more money but greater intellectual and social capital that is just as good, if not better, than money in certain circumstances.
  1. Focus on What You Do Best. Mission creep has become endemic by nonprofits because it is often easier to follow the funding than stick to our core mission. But, in this new environment there may not be new money to follow. It is therefore critically important for nonprofits to go back to basics and ask yourself what you are fundamentally in the business of accomplishing – and get rid of the rest. If you’ve heard the ubiquitous Suzy Orman providing financial advise on TV lately, you’ve heard her advise everyone within eye and earshot to get rid of anything extra, the second car, the health club membership, get rid of it now. Nonprofits heed this same advice, get rid of the extra programs that don’t pay for themselves, lay off staff, don’t put a penny out the door that isn’t absolutely necessary because it is sucking up time and energy you need to maintain the core of your efforts.
  2. Rethink success. One of the many bad habits that nonprofits have borrowed from for profits over the past twenty years defining success only as continued economic growth. Did we add more revenue/staff/programs this year? That’s the question that boards ask year after year, as if the only way to serve communities better, or have a greater impact, is to do more of the same – at the cost of doing whatever you do really well. We need to rethink this, and educate board members about the difference between impact and growth. We need to think about how to serve people well, how to raise awareness of issues well, not how to add more staff and new programs. Don’t be embarrassed by small programs that serve a few people really well and are easy to maintain – stretching yourself to the limits of your capacity is a nonprofit staple – and an exhausting, dangerous way to live economically especially now.
  3. Live Within Your Ecosystem. The quest for funding often pits one nonprofit organization against another. We have become adept at cannibalizing sister agencies in order to present ourselves to funders as the “best” or “the most unique” service provider or advocate. These artificial distinctions drain organizations instead of helping them to become more powerful ecosystems. When each organization is focused on what it does best, not becoming sprawling growth machines themselves, then they can connect with like-minded, collaborative partner organizations to serve their communities and constituents better.
  4. Nurture Your Networks. So, how do you service your communities and constituents better? By connecting with them in real, meaningful ways. Too often, communications between organizations and constituents has devolved into a one-way ask for money. We’re not really interested in you, most organizations are saying, unless and until you write us a check. People have lots to offer organizations in terms of what they know and who they know. Organizations needs to reach out and talk to them, where they are on sites like Facebook, and ask them how they should proceed, what they can do to help – and then they have to actually listen to the advice. This is the giving up control part – and if your organization isn’t ready to give it up, don’t bother asking people for advice. You may be astonished at how passionate people are about your cause and what extraordinary social networks they have that they can activate to support your efforts. Do you really need $50,000 to create a new website – or do you need a new website that members of your network could build for you if they felt included and excited about what you were doing?
  5. Trust yourself. In trying times it’s important to remember why you do the work that you do – to make our corner of the world a better place. We need to reject the Phyrric belief that success will come from being closed, competitive, opaque and hard of hearing. If it ever worked, it certainly won’t now. The elixir is to be your best self; open, transparent, connected and courageous.


The environment of the next two years will be very difficult for every organization regardless of their size, age or resources. For organizations that may have been hesitating to use the new social media tools like blogs, online social networks or Twitter you have no choice now; connect or vanish. We need to connect to our fundamental core of who we are, what we do and why we exist, and then connect with like minded people and ask them to contribute what they know and who they know to our efforts. You may surprise yourself and not just survive the downturn but thrive as well!

—————————————————

Allison H. Fine
Author and Activist

What happens when blogs, Facebook and cell phones intersect with illiteracy, hunger, AIDs and many other worthy causes? Connected activism results; the intersection of easy-to-use social media tools and idealistic activists. Allison Fine writes about this explosive intersection in her award-winning book, Momentum: Igniting Social Change in the Connected Age (Wiley & Sons, 2006).

She is a Senior Fellow on the Democracy Team at Demos: A Network for Change and Action in New York City, Allison’s research and writing focuses on the intersection of social media and social change. She has recently published a paper on young people and activism commissioned by the Case Foundation, Social Citizens, and edited a collection of essays, Rebooting America, of transformative ways to reinvent 21st century democracy using new media tools.

She is also a Senior Editor at the Personal Democracy Forum. Her articles have been published in the Boston Globe, San Jose Mercury Times and the San Francisco Chronicle. She is also a frequent contributor to Huffington Post, Personal Democracy Forum, Alternet and the Chronicle of Philanthropy.

Allison served as the C.E.O. of The E-Volve Foundation in 2004-2005, and was the Founder and Executive Director of Innovation Network, Inc. from 1992-2004. She is a graduate of Vanderbilt University and New York University, and was a Trustee and Fire and Police Commissioner of Sleepy Hollow, New York.


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10/20/08 - Transitioning Into a Nonprofit Job: Tweak Your Resume and Cover Letter to Fit - Part 2



by Dalya Massachi

Part I of this article suggested ways to talk about the skills you developed in the corporate sector. I encouraged you to start thinking about them in terms of how they will transfer to the nonprofit sector. By matching your skills with the key responsibilities and characteristics described in job descriptions of interest, you can zero in on experience that matters most to the employer. Now look at the relevant job entries in your resume and be sure to flesh them out with concrete accomplishments.

For example, consider these phrases and the accompanying clarification questions:
  1. “Managed database” - How many entries are we talking about? What kind of software did you use (not necessarily the exact brand name, but the complexity)? What kind of data manipulation did you do and how often?
  2. “Coordinated fundraising events”: Were they car washes, bake sales, carnivals, door-to-door candy sales, dance-a-thons, a high-end reception, or a black-tie dinner? If you raised significant money be sure to say that.
  3. “Developed program or product evaluation process” – What did that involve? Focus groups, surveys, interviews?
  4. “Evaluated budgets” – How big were the budgets? What process did you use?
  5. “Participated in a strategic planning process” – What was your role? Were you part of follow-up, implementation, or communication of the plan to your community? Why was this planning important at the time you were part of it?
  6. “Directed new product launches” – Explain the processes involved, using generic terms. For instance, if you introduced a specific type of baked good in the restaurant you managed, explain it as a new bakery product with a certain target market, relative price point, etc.


Watch for industry-specific jargon or acronyms.

Unless you are going from a corporate organization to its nonprofit equivalent, you need to break down lingo you used in your past jobs. If a layperson would not understand the terms you are using, revise.

Examples:
  • Reduced shrink 5%: Reduced the shoplifting loss at a retail store by 5%
  • I/O: Computer input/output
  • CRM: Customer relationship management
Volunteering: a great foot in the door

Remember that in the nonprofit sector, both paid AND volunteer experiences are important. If you applied your professional expertise to your volunteer work (e.g., as a board member or other leader, or as a computer consultant) that is even better.
In addition to volunteer work you may have done with organizations similar to the one you are applying to, consider your experiences with other groups. Examples may include your child’s school, your place of worship, neighborhood committees, or collaborative hobbies or leisure activities.

Format for Success

Now that you have the content you want to include, let’s talk a bit about the format you want to use. Begin with a “summary of qualifications.” This should highlight the best of both worlds in an integrated way to show how you can apply (or have applied) lessons from your corporate experience in a nonprofit setting.

Then, instead of a strict reverse chronological resume that jumbles lots of different experience, create a resume that groups similar experiences into skill headings. Within each heading, put each entry in reverse chronological order.

Be careful not to make the mistake of pitting “professional” against “nonprofit.” It implies that they are mutually exclusive. If you don’t want to use “volunteer” or “community service” to categorize your work in the nonprofit sector, think about ‘Corporate” or “Private Sector” as one category and “Nonprofit Experience” as another.

Don’t forget to include professional development courses that demonstrate a commitment to learning more about the ins and outs of the issues at hand, the nonprofit sector in general, and/or the particular job function you are interested in.

After you complete your resume, your next task is to generate some killer cover letters that make the connection between your corporate experience and the nonprofit job you seek. Part III of this article will offer some suggestions for doing just that.

——————————————-
Got a question about writing in the nonprofit job market? Just want to check in about your experiences? I would love to hear what you have to say! Submit a “comment” on the bottom of this page and let’s get a dialogue going…



Dalya F. Massachi specializes in helping nonprofit professionals advance their missions through outstanding written materials. She has worked with community-minded organizations for more than 15 years: authoring countless successful marketing pieces, articles, and grant proposals; teaching popular writing workshops; and coaching professionals one-on-one.

Download her free tip sheets and subscribe to her free e-newsletter at:
http://www.dfmassachi.net
dalya@dfmassachi.net

NOTE:For many more writing tips, check out my forthcoming book, Writing to Make a Difference: 25 Powerful Techniques to Boost Your Community Impact. If you pre-order right now, you will get a pre-publication discount of 15% at:http://www.dfmassachi.net/wmd.html

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Job seekers outnumber openings almost 3 to 1





There are more than six million more job seekers than job openings nationwide — an average of 2.9 unemployed workers per available job — according to researchers at the Economic Policy Institute in Washington, D.C.

The U.S. Bureau of Labor Statistics released data Tuesday showing there were 3.3 million job openings nationwide in August, well below the number of unemployed workers, which stood at 9.4 million.

This is the highest ratio of jobless to job openings since January 2004, according to institute economist Heidi Shierholz.

“Millions of American workers are now facing extended spells of unemployment with little hope of finding a job,” she said in a prepared statement.

Source: Biz Journal

4-Day Work Week Pilot





Hawaii is adding another department to the four-day work week pilot project.

The Department of Health will start a four-day work week pilot beginning Oct. 13 and ending Friday, Dec. 5.

The reduced work week will apply to the approximately 269 employees at the department’s offices at the Kinau Hale Building at 1250 Punchbowl St.. The department provides direct service to the public and issues certified copies of vital records.

The birth, death and marriage certificate certified copies window hours will be expanded from 7:30 a.m. to 4 p.m. Monday through Thursday, and closed on Fridays. Marriage license hours will be expanded from 7 a.m. to 5 p.m. Monday through Thursday and closed on Fridays.

Certified copies of birth and marriage certificates are available on a limited basis online at www.ehawaiigov.org/ohsm.

All other offices within Kinau Hale will operate from 7:15 a.m. to 6:00 p.m., Monday through Thursday, and will be closed on Fridays during the pilot project.

In August, the Hawaii Department of Human Resources Development was the first department to initiate the pilot project.

Gov. Linda Lingle’s administration launched the program as part of continuing efforts to reduce expenses, streamline state government operations and alleviate traffic congestion by keeping workers off the road during peak travel hours.

State officials said they will monitor the impact to the department’s services and determine whether there are cost savings associated with reduced energy use during the three months

The Department of Health was asked to join the pilot project so that more data could be measured in order to assess the project.

Source: Hawaii Department of Health

Nonprofit Job Hunting In Troubled Times





Even though the nonprofit sector has, over the last several years, created more jobs than the for-profit world, the current economic turmoil is bound to take its toll. Nonprofits are finding their donations down across the board and may have to freeze positions or even lay people off.

The following suggestions can help anyone, whatever industry you’re job hunting in:

1. Try part-time, freelance, or volunteer work.
It may take months to find a job, but to keep from falling into a slough of despair, bolster your resume with work of some kind. Nonprofits will be looking for more volunteers as funds decrease, but their clients’ needs increase.

Look for an opportunity that will allow you to use your best expertise and skills and you will impress your next employer with your go-getter attitude in the face of diversity. Try looking for volunteer jobs at Idealist.org, VolunteerMatch.org, and NetworkforGood.org.

2. Freshen your skills.
Now is the time to learn that computer program you have been wanting to…Excel? PowerPoint? To improve a skill…Public speaking? Use books, Internet resources, or in-person or online classes to beef up your resume in these skills. Don’t give your next employer any excuse for not hiring you because you lack a needed skill.

3. Increase your social networking.
If you can, continue to attend conferences in your field; get busy improving your profiles on Facebook and LinkedIn. Ask for recommendations or line up people to be references. Ask your contacts for introductions to key people at organizations you’re interested in. More Info

4. Practice your interviewing skills.
Get friends or family to role-play with you and practice those sneaky questions you’ve had trouble with in the past. If you were laid off or fired, develop a way to explain it in your interview that puts you in the best light possible. More Info

5. Market yourself.
In a tight job market, your personal branding is terribly important. There is no space for sloppy resumes and cover letters. Take the time to develop compelling and flawless materials. Hire a professional resume writer if necessary. Definitely find a good copy editor.

6. Spend time every day working on job hunting.
Work on your resume, network, check job sites, read the publications in your field for clues about who might be hiring. Read the blogs and leave comments. Offer a guest blog post to a blogger you know. Find ways to position yourself as an expert. Offer to give presentations to professional groups.

7. Be realistic about how long your job hunt may last.
Get real about how long it may take to find a new job. An article at CareerBuilder.com suggests that you should “…expect it to take at least three months to find a job that pays $40,000. Add one month for every $10,000 more you want in salary.”

So settle in for the long haul, make a list of the things you will do to fight back, and keep your calendar full of activities that will lead you to your next job lead, interview, and, finally, that great job.

10 Ways to Recession-Proof Your Job Search





All the uncertainty in the economy can easily rattle a job seeker’s confidence. But experts say it’s important to stay calm and think strategically.

“A recession doesn’t mean there’s no opportunity for work, it just means you have to think differently. It’s a detour; the highway is closed but there are a lot of very interesting and scenic back roads—some of which may turn out to be faster and more enjoyable,” says Bill Coleman, Chief Compensation Officer at Salary.com.

For a look at companies who are hiring, check our listings right here on RetirementJobs.com. And consider these tips as you launch or continue your search.

1. Focus on industries that are less likely to be affected by an economic downturn – such as health care and education.
Hospitals and schools will still be serving their populations. Even if your background is in another industry, there are often ways you can parlay your skills to one of these fields.

2. Consider taking a position that you are over-qualified for.
It’s a way to get into a company and prove yourself so that when the economy is looking brighter, you’ll be in line for advancement.

3. Look for opportunities to propose a “contract” solution to a company’s recession employment needs.
A company may not be hiring people on staff or it may even need to lay people off, but it still needs to get work done. Could you propose doing a project on a “contract” or “freelance” basis? You’ll get paid an hourly rate or a flat fee for your work, but usually will not receive benefits. But it’s a way to establish a relationship with an employer that could pay off when the economy turns around.

4. Consider temping. Some professionals consider this to be “beneath” them – but it can open up a world of possibilities.
You get to experience a company’s culture before deciding whether you’d like to work there. It helps fill your immediate cash flow needs. Plus, some temp agencies offer benefits to full-time employees.

5. Cast a wider net.
Prepare 2 or 3 different resumes to highlight different skill sets so that you can apply for a wider array of jobs. For example, if your background is in marketing, you might be able to position your experience to make yourself an attractive candidate for a sales or public relations position.

6. Networking, networking, networking.
It’s almost as trite as the real estate adage location, location, location. But it’s just as tried and true. Talk to EVERYONE you know – even if they are not connected to your industry. You never know who might have a cousin or a friend of a friend who might be able to help.

7. Seek professional guidance.
Go to employment agencies or your state’s employment office. Keep an open mind to positions that you may not have previously focused in on. They might be a way to get in a door and set out on a path that could lead you to your ultimate career goals.

8. Consider self-employment.
If you have a skill or a passion, think about whether you could turn it into a business without substantial start up costs.

9. Look to the Government.
Local, state and federal governmental agencies arefacing a labor shortage, as thousands of their workers are retiring. Look into a department that is related to your work experience or a hobby or passion. For example, if you’ve always loved the out of doors, the Forestry Service might be a good place to start.

10. Think about re-wiring.
If you can afford it, now is a good time to go back to school to get that extra credential or prepare yourself for that career change you were thinking of making.

Source: Retirement Jobs.com

How to Prevent a Wall Street Meltdown in Your Career





The past couple of weeks have been hideous for investors. Forget about the risk takers on Wall Street-they deserve what they’re getting-I’m talking about the working men and women who have watched their 401(k) and mutual fund investments shrink before their very eyes. For many of us, the financial foundation for an invigorating retirement or even for a stable career that draws on an enduring passion is gone, and all we can see ahead is the long, hard slog back to some sense of security and well being.

Not surprisingly, many of us are using this pivotal moment to think more carefully about where and how we invest for the future. As natural and appropriate as that effort is, however, it can have a negative as well as a positive effect. In the worst of circumstances, this review is a hurtful experience in which we ask ourselves why we made such bad choices or why we weren’t smarter and more insightful. In the best of circumstances, in contrast, we use this time of reflection to look for lessons we can learn from our experience and to reinforce behaviors that can help us advance ourselves in the future.

It’s in the latter spirit-the positive perspective of leveraging this difficult time to our benefit in the future-that I offer the following guidelines. Not surprisingly, they focus on investments, but these strategies are not meant for the financial sector. Think of them, instead, as my 5 Golden Rules of Career Investment. They encapsulate what we can learn from the Wall Street meltdown that will:

  • help us direct our careers more wisely going forward and

  • achieve a greater return on that investment in terms of the paycheck and the satisfaction we bring home from our work.

    Rule #1: Invest for the Long Haul.
    Set aside the time and make it a priority to advance your skills in your profession, craft or trade. Whether you’re refreshing capabilities that you already have or adding new capabilities to your toolkit, make sure you are at the state-of-the-art in the field (and that it shows on your resume). That kind of long term perspective won’t give you job security (nothing can do that in today’s world), but it will ensure that you have career security-the ability to stay employed in career enhancing positions with career enhancing employers.

    Rule #2: Spread Your Investments Around.
    In addition to continuously reinforcing your expertise in your field, also invest the time and effort to add skills that will enable you to apply that expertise more effectively or in a broader array of situations (e.g., knowledge of a hardware or software system that will enable you to work more productively, the ability to speak a language other than English so you can serve in ethnically diverse and/or overseas facilities). That expanded range of capability gives you a flexibility and adaptability that enhance your potential as well as real contribution to your employer.

    Rule #3: Move Out of High Risk Areas.
    Candidly assess the current strength and future prospects of both your boss and the project and/or business unit where you are working. Make your own observations, but also collect the views of others in and outside the organization. Then, as difficult as it may be on a personal level, act as if you were an employer: terminate your involvement with those that are not highly regarded or high performing. They are not only a risk to themselves, particularly in this environment, but they threaten your security and well being (and that of your family), as well.

    Rule #4: Listen to the Right Expert.
    The cheerleaders for the behaviors that created our current economic mess were the pundits of academia and the talking heads in the media. Their sound bite analysis and opining did much to oversimplify and sugarcoat the realities of real estate and financial investments. The best way to protect yourself from such wrongheadedness in your career is to expand your own knowledge of what’s required for success. The skills of career self-management aren’t rocket science, but they are competencies that must be acquired and continuously honed in order to serve you well.

    Rule #5: Stay Alert and Adjust as Appropriate.
    The instability that we’ve seen in the broader economy over the past year or so will likely continue for at least awhile. As a consequence, there simply is no guaranteed security in any one job or employer. The successful organization today can face an unexpected downturn tomorrow and, in the process, slow or even derail your career momentum. The only safety net, therefore, is a commitment to constant vigilance and preparation. Be loyal to your current employer by doing the best possible work you can, but be loyal to yourself, as well, by staying alert and acting at the first sign of trouble.

    Historically, financial investments were thought to be the critical element in ensuring our future well being and success. While they remain very important, it is now just as vital that you invest in your career. In fact, in the 21st Century, a carefully managed career provides every bit as great a return as any 401(k) program or mutual fund, at least if the metrics of success are your personal fulfillment and happiness.

    Thanks for reading,
    Peter




    • Usher’s Service Leader Challenge




    Want to do service and hang out with Usher? Then jump into Usher’s Service Leader contest. Here’s how it will work. If you can inspire 10 hours of service (i.e. 10 people doing 1 hour each, or 5 people doing 2 hours each) AND can get 100 signatures on our Declaration of Service, then you will be eligible for a drawing. If you are one of two lucky winners, you’ll receive airfare for two, hotel for two nights and two VIP tickets to Usher’s Washington, DC Concert on November 4 (National Election Day!)

    You’ll spend time with Usher, and dress well because you could be making an appearance onstage during the concert! Get started right away, and see if you can pull off the challenge and submit your results by Friday, October 24. We’ll be announcing the winners October 27!

    Submit your results today! Hurry, the contest ends on Friday, October 24.


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