Work/Life Balance: High-Power Executives Need a Break, Too

In a recent Herman Trend Alert, it was noted that it is becoming increasingly common to take a "sabbatical" from work, and the forecast is that increasing numbers of men and women at all levels in their careers will opt to take a break from their careers for periods ranging from 2 months to a year or more. I believe that our heightened awareness post-911 of just how fragile life is and the greater focus on what really matters in our lives that grows out of that awareness will drive this trend.

The article notes that "Some executives are now negotiating such time off as part of their compensation arrangements when they are recruited." Taking time out to care for elderly parents, pursue that degree, realize your dream of global travel, write a book, turn your beloved hobby into a business, or just refresh your mind and body – all of these can be excellent reasons for such a break. Executives in career transition may wish to consider this option in career planning, bearing in mind the well-worn but oh-so-true cliche – "You can't take it with you."

Revolving Doors in the Executive Suite

Every source of executive career intelligence that I currently monitor seems to be chanting the same thing: Executive tenure is on a downward slope and job security is a thing of the past, especially for CEOs. With increased demand for accountability coming from shareholders and scrutiny into business minutiae required by recent legislation, "the revolving door at the top of corporations is spinning fast" (Execunet).

Chiefexecutive.net as early as 2003 noted that "The zeitgeist surrounding corporate America is shifting, too. CEOs once feted on the cover of national magazines are fighting criminal charges of fraud. Public opinion has declared open season on corporate chieftains in general.... Meanwhile, inside corporate conference rooms, activist shareholders and independent boards of directors are showing less tolerance than ever for mediocre performance and no tolerance at all for poor results."

Dave Opton at Execunet observes that "Long gone are the days of gold watches and lifetime employment." He states that a recent survey of 233 executive recruiters showed that 18% of executives do not survive their first year in a new job! There are no "honeymoons" anymore, and executives, particularly CEOs, must hit the ground running.

An Execunet survey of nearly 1,500 executives revealed that they are changing companies every 3.6 years. However the outlook of many executives appears disjointed from this reality, as many expect to remain in their next position 5.4 years.

According to Chiefexecutive.net, time to move up the ranks and overall career length with a single corporation are also declining: "In 1980, the average Fortune 100 CEO spent 26 years with one company. Today, the median tenure of Fortune 100 CEOs is 19 years; for the rest of their Fortune 700 counterparts, it’s barely 16 years—just enough time to join a company after getting an MBA and make the inner circle by one’s early 40s."

Yet as bad as it may be for U.S. executives, as a group they seem to be better off than those in other countries. Business law professor J. Gilbert Reese in his blog points out that " A study by Charles E. Lucien, a consultant for Booz Allen Hamilton, on executive tenure showed some surpising results for United States companies. American executives of underperforming companies have longer tenures than executives of underperforming companies in other parts of the developed world." Apparently the greater minority shareholder voting power and litigation rights in the U.S. provides some protection for executives whose companies are underperforming.

Industry Outlook for 2005

BusinessWeek Online's Annual Industry Outlook

"Last year was a great time to be an oil company: Crude briefly shot past $55 a barrel, the highest ever. It was good to be a bank, too -- expansionary monetary policy kept banks' cost of money super-low. For retailers, strong consumer spending made 2004 a year to remember.

In 2005, a lot could change -- for better and for worse. Although overall economic growth will be about the same, the ranks of winners and losers are in for a shakeup."

Laurie's Comments:

Business Week's Industry Outlook for 2005 contains valuable market intelligence and projections that can help executives with informed decision making. Whether you are in Manufacturing, Information Technology, Life Sciences, Services, or Finance, you will likely find information about your specific niche.

Among the headlines:
Oil - no gusher but a steady flow.
More Good Vibes for Heavy Metal.
Aerospace: Preparing for a Descent.
Construction Still Building.
Telecom: The Merger is the Message.
Software: Expect the Giants to Stay Sluggish.
Tightwad IT Buyers Loosen Up.
More Bitter Pills for Big Pharma.
BioTech One Sector with Strong Vital Signs.
Retail: There Goes the Gravy Train.
Banking: Bracing for the Squeeze.

Be sure to view the photo essay.

How to Tell The Good from The Bad and The Ugly in Job Postings

Weddles.com: Tips For Success - Job Seekers

"According to an 8+ year survey we at WEDDLE’s have been conducting, the one thing most Internet job seekers do when they go online is look at job postings.

These announcements, however, are very different from traditional employment ads. They don’t appear in the format of a print classified and aren’t restricted to the tight space constraints imposed by newspapers and journals. As a result, you’ll need a new set of rules for reading and evaluating job postings if you’re to avoid wasting time on mediocre employers and focus your attention and efforts where they can best advance your career."

Laurie's Comments:

With the incredible volume of job postings available at any given time on the Internet within many job categories, reviewing them efficiently can present a tremendous challenge. Firstly, of course, you will need to weed out those that are obviously bogus, shams, or get-rich-quick scheme come-ons. Then you will want to evaluate postings for level and quality of detail regarding specific requirements for the position and what the company offers you, the "candidate friendliness" of the application procedure, and clear indication of how your privacy will be protected should you apply.

Considering all of these elements will help you to make an informed decision whether to apply and provide strong clues as to the corporate culture of your prospective employer and the likelihood that this could be a good match.

Boost Your Career with a Blog

Web Sites, Blogs Can Boost Your Career - Yahoo! News

"NEW YORK - When the staff at a Scholastic Corp. unit heard that Cindy Eng was being hired as their editorial head earlier this year, they did an online search of her name. Fortunately for Eng, their searches led them right to her Web portfolio, a personal Web site that trumpeted her professional accomplishments... "


Laurie's Comments:

The general press is starting to trumpet what career professionals have been advising their clients for years: that an online presence is becoming a key component in career advancement.

Your online presence can and should consist of many elements -- white papers or bios on corporate sites, articles and interviews in online journals, mentions and interviews in online trade and industry publications, online resumes and portfolios, and, of course, blogs.

Blogging is perhaps the easiest way to gain an online presence, but as the above article stresses, "Just be sure that your Web site looks professional and your blog, or Web log, is smart, otherwise you will have defeated the whole purpose."

A web portfolio brings a staple of the advertising and creative fields into broader use. These are specialized web sites that are designed to show off your talents and accomplishments, and are much more than just an online resume. You'll want to use much greater detail than would be advisable on a resume, and include such things as links to articles you have written, charts and graphs illustrating results you have delivered, white papers on topics relevant to your industry and profession -- the possible list is endless.

Your blog should be professional yet conversational, and zero in on topics of interest to others in your field. The objective here is to position yourself as an expert, while demonstrating your thought processes, insights, and communication skills.

Tim Bray, Director of Web Technologies at Sun Microsystems, recently reflected on his blog regarding why blogging is good for one’s career:

"Ten Reasons Why Blogging is Good For Your Career

1) You have to get noticed to get promoted.
2) You have to get noticed to get hired.
3) It really impresses people when you say “Oh, I’ve written about that, just google for XXX and I’m on the top page” or “Oh, just google my name.”
4) No matter how great you are, your career depends on communicating.
The way to get better at anything, including communication, is by practicing. Blogging is good practice.
5) Bloggers are better-informed than non-bloggers. Knowing more is a career advantage.
6) Knowing more also means you’re more likely to hear about interesting jobs coming open.
7) Networking is good for your career. Blogging is a good way to meet people.
8) If you’re an engineer, blogging puts you in intimate contact with a worse-is-better 80/20 success story. Understanding this mode of technology adoption can only help you.
9) If you’re in marketing, you’ll need to understand how its rules are changing as a result of the current whirlwind, which nobody does, but bloggers are at least somewhat less baffled.
10) It’s a lot harder to fire someone who has a public voice, because it will be noticed."

I heartily agree with all of the above. If you are an executive without an online identity, it is time to begin remedying that. Your executive resume writer or career consultant will be able to advise and assist you with creation of a web portfolio and/or blog that will enhance your name recognition and credibility.

Beware of Predators in the Online Job Search Jungle

Five Tips for a Safe Online Job-Search
A CEO Refresher article by Teena Rose

"Conducting a job search using the Internet has definitely transformed how jobseekers contact hiring companies... With the Internet's convenience, a breeding ground for scam artists continues to grow each year as well. Identity thefts have increased to an overwhelming 10 million cases per year, and many of them are the result of phishing - not surprisingly, the employment industry is under attack as well. "

Laurie's Comments

This article reminds us that it is indeed a jungle out there. Online resources such as executive-level job boards and recruiter sites are undeniably a valuable tool in today's executive employment search. While it remains true that networking is by far the most productive search method for executives in career transition, you are missing potential opportunities if you do not post your executive resume to job board and executive career transition sites such as CareerJournal, ChiefMonster, ExecuNet, ExecutiveRegistry, Netshare, RiteSite, SixFigureJobs, and TheLadders. It is also advantageous to submit your resume online to the major elite recruiting firm sites such as Korn Ferry, Christian & Timbers, Heidrick & Struggles, A. T. Kearney, Blue Steps, Spencer Stuart, Brilliant People, Top Echelon, etc.

However, with the prevalance of scam artists, identity thieves, and phishing schemes on the Internet, searching online does entail some dangers. For example, with "phishing," you may receive inquiries that look as if they have come from a legitimate recruiter but are actually invitations to become a victim of fraud. You may receive solicitations from "career marketing firms" who will represent themselves as recruiters who have an opportunity for you but need you to pay them for access to their "exclusive" contacts. Be very wary of these, as there are numerous scam companies ready and eager to take your money.

So what can you do? Firstly, do not take any e-mail inquiry at face value, and avoid clicking on links embedded in e-mails. And if you do click on a link in an e-mail, NEVER provide personal information such as social security number or credit card number, no matter how legitimate the web page looks. To visit a website to which you are invited via e-mail, do a quick search on Google for the firm name to identify the correct URL, and copy/paste or type it into the Address line of your browser. Only when you are sure you have reached a legitimate site should you submit any personal information.

When filling out forms on various sites, read and understand their privacy policies. Specify that you do NOT give permission for your information to be sold or given to others without your approval.