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Hop or Not?

August 23, 2017 No Comments

There are many rewards and risks in job hopping, just as there can be lots of rewards and risks in a decision to stay with a current company. But they are not necessarily the same. Should you job hop or not?

First, let’s understand why job-hopping has been and still is in vogue. Prior to the 1970s, large and medium sized companies were often considered to be paternalistic toward to their employees, to the latter’s delight, and employees often had a “job-for-life” approach to joining a company. Job security was a prominent reason, while job satisfaction, compensation and benefits vied for second place. By the 1970s, in part due to the Vietnam war, which brought into question the honesty and loyalty of big government and large companies, the olden days’ paternalistic scenarios began to break down, as did other factors: the demise of pension plans, large scale lay-offs in many companies in the chase for stock values, efficiency goals, cost-per-unit, and outsourcing of jobs overseas…and it continues to this day.

Fast forward to 2017. Job hoppers are viewed warily by some hiring managers, though they are embraced by others because they are considered to be adaptable, have seen a range of company sizes and approaches (perhaps even those of your competitors!), and have a larger network of contacts. And hiring managers, take note: millennials change jobs, on average, every 18-24 months, so this trend has no sign of slowing down.

What are the risks and rewards of job hopping?

Money:
- Reward: The reward part seems obvious here! If your current salary/bonus/commission are below market, and your current firm is not willing to bring you up to an equitable rate, it may be time to start looking elsewhere.
- Risk: Job-hopping for compensation alone is a losing battle. You might get the compensation you want, but not have all the positive attributes your current job provides. Be sure to also factor in your total compensation. Beyond base salary, bonus, and commission (if applicable), how do benefits match up? Differences in health, dental, 401(k), stock options, vacation, sick time, commuting costs and the like add up, and that pay increase may actually cost you in the long run.
Fit with the company culture and mission/vision:
- Reward: Finding a job with an organization with a strong culture, and with a product or service you really stand behind, or a nonprofit with a mission that you believe in with your heart and soul can be a magical thing.
- Risk: The “magic” may make you overlook some other key things, like fit with the actual job or chemistry with your manager and colleagues. Be sure to dig deep to ensure that you are not taking the wrong job with the right organization.
Increased job satisfaction/more interesting work:
- Reward: It is a great feeling to have work that satisfies you. Moving for even more satisfaction can help you to grow your skills and hone your craft. Another option: if you are the type who bores easily, you may want to consider joining the “gig economy” and look at doing consulting, where you can work on a project basis and do all kinds of different and interesting work.
- Risk: If you are really, truly disinterested in the work you are doing, think long and hard about it. Is it really the current job, or is it the work itself? If it is the actual work, maybe you are ready for a larger-scale career change. Going someplace else may be a temporary fix, and once the novelty wears off, you may find yourself bored again. If your intuition tells you this may be the case, take a breather to figure out what type of work will fulfill you longer term.
Advancement opportunities:
- Reward: Feeling like you can grow in your career is something that most people find to be essential, but sometimes you do have to go outside to make a move up.
- Risk: If a better title is your primary motivator, make sure this career move ^^ is going to check some of the other boxes too…or accept that it may literally be a move JUST for a better title. Also, consider talking to your current manager. Are there ways to advance within your current role by taking on new projects and honing specific skills?
A great manager/team:
- Reward: Let’s suppose that the best manager you ever worked for calls you and asks that you come to his or her new company to work for them. Added bonus? Some of your favorite colleagues will also be joining the team. Or, suppose that you interview and the hiring manager is dynamic, smart, and easy to get along with, and the team members you met with seem committed, happy, and interesting. Ready to sign on the dotted line? I don’t blame you. Chemistry with your boss and colleagues can be a great thing.
- Risk: In the case of following a manager to a new role, the risk is that you get there and the manager leaves, be it due to personal choice, layoff, his/her promotion, or restructuring. Or, in the case of joining a new manager, that person who seemed so great is…not so great. Do your research to see who your new boss and team are and what they are all about.
A startup that you think will take off in a major way:
- Reward: Working at a startup can be rewarding on many levels. As it grows, your opportunity to take on more responsibility and learn multiple parts of the business will be there. If it takes off, it may result in a wealth event for both the company and you, especially if you can get equity early on.
- Risk: Do your research on the market that the startup focuses on and the viability of their value proposition. Ask about funding sources, benefits, and if the founders are looking to grow the company, or are ultimately hoping to sell it…because you could end up working for another firm or find yourself out of a job if that happens!

All in all, job-hopping is a bet – but recent statistics show that most professionals will change jobs 9-10 times or more over their working life. Identifying the risks and mitigating them will help you be successful, whether you hop or not.

Cindy Joyce is the CEO of Pillar Search and HR Consulting. With personalized service and proven results, Pillar Search and HR Consulting provides retained executive search and recruiting services as well as human resources consulting to for exceptional nonprofits and socially responsible for-profit organizations. To learn more, please visit www.pillarsearch.com.

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What Career Changes Would You Make if You Won the Lottery?

January 30, 2017 No Comments

There is an old saying, “Do what you love and the money will follow.” Too often, however, people are trapped in a certain lifestyle by the belief that if you make the money, loving your career will follow.

Recently, I was working with an executive client who admitted that while his job was extremely rewarding financially, he was feeling uninspired and trapped. I asked what would prevent him from making a major change, and he said that he feels locked into his high paying job because he has two homes, an expensive country club membership, two adult children still “on the payroll,” and supports his father’s care.

I posed the question, “What would you do if you won the lottery?” At that point, the jackpot was over $150 million. Instantly, his demeanor and energy changed as he excitedly shared that his dream was to open a sailing center where he could rent out boats and offer lessons. This clearly is a dream that he has given extensive thought to, as he already knew where he would open this business, what the name would be, how he would attract customers, and that he would offer sailing camps to area nonprofits that work with children, such as Big Brother Big Sister and Boys and Girls Clubs.

Let’s be honest: the chance of winning the lottery or finding out that you have some unknown Daddy Warbucks relative who has left it all to you is pretty slim, but his answer and obvious passion made me wonder what others would do. In an unofficial study (okay, I surveyed friends and colleagues!), the majority reported that if they no longer had to think about money at all, they would travel for a year or two. Some would return to their current job full-time, as they believe in the company that they work for, and their work is interesting and enjoyable. Others would volunteer, take classes, or join the gig economy by consulting for organizations on a project basis so that they could have greater flexibility over the scope and intensity of their work. Surprisingly, only two said that they would make relaxation their full-time endeavor!

The other interesting responses from my entirely unscientific study were:

I would work, but in a much different way. I would speak more frankly and have less fear for losing my job based on my actions. I still love what I do. That’s why I do it.
Keep living life as is, until I thought of some way to use that money to start something that makes me happy and benefitted others. I think people need a purpose, so without working, or a goal, you would spend all the money on “things” to fill that need and run out of the money!
Now that I am doing something I actually like, I would keep doing it (this individual left a corporate job of over 12 years recently to run a family business)
I would keep working, but I would focus more on the aspects of my jobs that I love and outsource/reduce the things that I do not love. I would focus on creating. I would also devote time to the causes I love.
I would absolutely “work” but not doing what I do now. I would start a non-profit focused on something with girls in leadership both in the U.S. and internationally, or write a book about raising our next generation to eliminate the unconscious societal bias. And, of course, I would do all of this while traveling around the world with my family and friends, drinking delicious wine everywhere!
I would work, but would use my skills to help empower underprivileged women to create better lives for themselves and/or donate my time to nonprofits that support things that I am passionate about.
I would quit my current job to start a business focused on my hobby (some responses were to open a bakery, a cigar bar, and a dog walking business).
I started my own business a few years and love it so much that it feels like I already won the lottery!

In the case of my client, he is not ready to make the leap just yet, so we discussed how to find time to do what he loves while staying in his current role. We found a sailing center in Boston that offers lessons to disadvantaged children, and he is going to volunteer with them one evening a week, which will give him an opportunity to sail on a regular basis and gain the experience of teaching sailing to children. He and his wife have decided to start downsizing slowly in hopes of starting his dream business in the next 5-10 years. At the end of our meeting, we went to the convenience store around the corner to purchase lottery tickets. Fingers crossed!

If money were no longer an issue, what would you do differently in YOUR career?

Cindy Joyce is the CEO of Pillar Search & HR Consulting. Pillar provides national executive search services for exceptional non-profits and foundations and socially responsible for-profit firms desiring top talent who want an occupassion, not just an occupation. In addition, Pillar offers human resources consulting services, which was born of clients requesting help on projects beyond executive search, and includes leadership coaching, human resources audits, handbooks, assessing organizational design, training, team building, and employee communications. A woman-owned business, Pillar is based in Boston, MA, and works on both the local and national level. For more information, please visit www.pillarsearch.com or email Cindy at cindy@pillarsearch.com.

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How to Deal With the Karen Walker Employee

June 14, 2016 No Comments

Remember the fabulous show Will & Grace? For those who were not privy to it, the show ran from the late 1990’s through 2005. Based in New York, it followed the lives of best friends. Grace Adler, a woman who ran her own interior design firm had an assistant, Karen Walker, a very rich, oft-drunk socialite. Karen made no bones about the job being a hobby for her, which resulted in some very funny moments. My personal favorite Karen-ism?

Grace Adler: Karen, I don’t want a check. I want assistance. I’m the boss. I give you checks.

Karen Walker: Yes, you do, honey, and I love them. I do. You know, I keep them all right here in this box.

While TV can show the hilarity of treating a job like a hobby, in real life it’s anything but. I’ve worked with two clients this year alone who were struggling with how to work with an employee who treated their job with a nonchalant, devil-may-care, laisez-faire attitude.

While I understand that everyone has a different tolerance for stress and some can make everything seem like a breeze, the Karen Walker employee is toxic because they do the bare minimum and seemingly flaunt it in the face of their boss and colleagues. They skim that line of acceptable performance, but seem to pull far enough away from underperforming at the last minute that it keeps them employed for far too long.

The cost you expect? Other employees. The Wills and Graces of the organization, the ones with actual passion for their job and a strong sense of work ethic. While underperformers can harm morale, the Karens pour gasoline on the culture you have tried so hard to build, and then slowly burn it.

The cost that may surprise you? It takes a huge toll on your brand and worth as a leader. People will wonder if you are either aware of their bad behavior and lack the guts to do anything about it, or if you are too clueless to notice.

Nip it in the bud. In the case of my two clients, they hired me to do coaching with each of their Karen Walker employees. The first? In Karen’s words, “Oh honey no, just no.” No amount of coaching, attempts at getting the employee to modify their behavior, recognize the impact on their colleagues, or gaining better understanding the company culture worked. Thankfully, the other person responded well to the coaching and was able to make modifications to their behavior and attitude and is now thriving. If only Grace Adler had hired Pillar Search & HR Consulting!