Companies have shed a lot of middle managers since 2009, many of whom have been highly compensated executives over 50.  Employers have learned to do more with less and to out-source functions wherever possible.   Still, there is work to be done.   If you are over 50 and looking for a new job, you must pay close attention to the following five steps to employment.

1. Assess your skills and capabilities:

Don’t think in terms of job titles you have held, but of your accomplishments and how they were achieved.   Employers need people to solve problems.  Prepare an inventory of your skills and accomplishments.  In fact, this would be a good exercise to complete with the people in your network.  They will likely have a useful perspective.  It is also a good reason to reach out to your network to stay top-of-mind as to your availability for that next opportunity.  Use this exercise to evaluate new options.

2. Work your network:

Networking is the best use of your time!  Your network may be your most important asset and likely a competitive advantage over younger workers!   You must reach out to all of them.  Pick their brains as to what they are seeing in the market as well as possibilities for you.  You should have them organized into an email group that will allow for easy communication.  Update them on your progress.  Make sure that you are actively seeking out important new contacts.  Buying coffee or lunches for these folks is an excellent investment.  

3. Work on your image:

One benefit of being between situations is the additional time recovered, especially that time otherwise spent on your commute.  I would advise that you retain the same sleep-waking schedule you had while working, just use that time differently.  Substitute your commute time for exercise, research, and for updating your technology skills.   Get back to a healthy diet.  A sleek and healthy image will help shorten your job-search.

4. Your on-line presence:

If you are not on LinkedIn, you should be, and your profile must be complete.  Otherwise, you are hurting yourself.  Employers are looking for you, but they cannot find you or if they do, your profile is not impressive.  Consider a paid subscription to LinkedIn.  Now is a good time to join and become active in those groups that parallel your interests.  Position yourself as a thought-leader.  You should consider starting a blog and developing your own website to further your on-line presence.  Remember, employers are looking you.  Make it easier to find you.
 

5. Consider a career coach:

You must be competitive!  Job-search techniques and tools are changing rapidly.   A good coach will help you with search strategy, interview prep, and communication effectiveness.  If you are not a long time resident of your current location, someone who can help with important introductions is vital.   Our company has been providing Mentoring and Coaching services for many years.

Summary:
Those over-50 are healthier and more active than their parent’s generation so age isn’t an issue per se.  However, the mature employee brings some expectations that may not fit the needs of potential employers.  They have their own biases.  Technology skills and employment laws present risks to the employer, while compensation requirements may be at odds with their  budgets.  One must present themself as a reliable problem-solver.  You have much to offer, however, you need to understand the needs of the employer, define your capabilities, and market yourself as with any brand.  Follow these five steps to ensure a shortened time between jobs.

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Jim Weber, President

New Century Dynamics Executive Search

www.newcenturydynamics.com

 

 

Strategic Partners

In my last post I briefly referenced Strategic Partnerships (SP) as another leveraging tactic to build your business.  This is a lesson I learned early in my entrepreneurial incarnation, thankfully!  It’s like networking on steroids, a true force multiplier.  Strategic Partners are your “go-to” people for specific expertise.  You may know a number of people who could provide a solution to a client’s need outside your area of expertise.  However, your SP should be at the top of that list.  They are super referrals and your most trusted service providers.  They enhance the value of your brand and if managed properly, strengthen your bond with the client.  After all, we are known by the quality of our work and with whom we are associated.

So what makes a good Strategic Partner?  SPs are people who serve the same target market but are not competitors.  Or, they could be competitors who serve a different target market, an indirect competitor.  They work in a market that you do not plan to penetrate, but would welcome opportunistic income.  In my case, an indirect competitor and a viable SP is another executive recruiter who might specialize in global manufacturing or maybe, healthcare.  Or someone who works in the same industry segment but places lower than C-level talent.   Yes, this is another executive recruiter, but it is unlikely that we would ever compete for the same search.  We both come across candidates and prospective clients who we cannot help due to our lack of expertise in their market segment.  Certainly, we would like to help those folks and earn a fee; however, the learning curve to compete in that market would be cost prohibitive.  A SP is the perfect solution.

The SPs I have developed grew out of referrals from my network.  My network pointed me to these folks, initially as a resource for searches.  In my work, as with any consultant, I learn a lot about my client’s needs.   It is only natural to want to help them solve problems and become more successful.  Their success will guarantee a long term relationship and continued success for my brand.  I look at this kind of support as value-added.  So, having the ability to refer additional resources to help one’s client becomes a win-win.  When including your SP, it is a win-win-win.

Working together over time, we developed trust, leading to a more formalized relationship.  In one case I needed to help a client find a consultant to support program development under the direction of the new VP Training & Development that I had placed.  I received an excellent referral that led to my SP connection, with Morreen Rukin Bayles of Creative Restaurant Solutions.  Two of my Strategic Partnerships grew out of alumni connections.

Strategic Partnerships are more than just a value-added service you provide your clients.  These relationships are revenue generators.  When you enter into an SP you are formalizing your relationship into a line of business.  In exchange for being the go-to person for their services you are entitled to referral fee.  This makes sense as there is minimal, if any acquisition cost incurred by your SP.   You become a marketing resource for your SP and should be compensated, just as your SP would be compensated if she brought you a business deal.  As in any business relationship it is important to document your agreement.  The type of agreement you choose will be driven by the potential gain and risk in the transaction.  At the very least you will want to have a letter agreement on record.  A more complicated arrangement may require a more formal contract so you should consult your attorney.

A final thought about quality control.  It is still your brand at risk.  You need to be careful when selecting your SPs as your brand will become tied to theirs.  The wrong partner will introduce serious risk into your business.  You must exercise oversight of their work.  Check in with your client on a regular basis to secure feedback as to their performance.  If there are issues, you must to be alerted early on so that you can help facilitate corrective action.  Ultimately, you have a brand to protect so you must be engaged.

 To break the feast or famine cycle, be sure to have Strategic Partners on your team!

Thank you for visiting my blog.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so please leave a comment.

Also, I have a one question survey that will help me determine the best topics to cover.  Please click on the link below provide  your feedback.

 http://survey.constantcontact.com/poll/a07e93f58mxht4f5wqw/start.html

 

Jim Weber, President

New Century Dynamics Executive Search

www.newcenturydynamics.com