February 2008
Monthly Archive
Cover Letters Close Gaps in Employment
Remember the first day of the new school year? Your first assignment was always writing about what you did over the summer break. This usually involved the activities or camps you participated in, trips you went on, and books you read.
Explaining a gap in employment is often like this, only not as easy. After a hiatus, it’s not easy re-entering the workforce, and it’s even less easy explaining one and landing a job. There are many reasons why individuals have gaps in their employment histories. Whether you have been unemployed for several months, are returning to the workforce after raising children, or took a break to go back to school, reintroducing yourself to potential employers is a lot easier with a strong, well-crafted cover letter.
If you are returning to the workforce after a significant absence, it’s important to address this fact early in your cover letter. Remember, however, that your employment gap does not define you. Rather, it is your skills, qualifications and experience that will truly make you the right or wrong candidate for the job. The secret is to address your time away from the workforce briefly and succinctly, and then move on to discussing your skills – both old and new – that truly matter.
The first thing you should do is research the company and develop a list of expertise and experience matching their mission and culture. Remember that these skills do not always come from a professional environment. Make a list of your accomplishments throughout your career as well as from your time away from work. Include newly acquired skills or others you have strengthened. Perhaps you have taken time off to raise your children – your time management skills may be sharper or have worked on projects through volunteer work. Maybe you have spent time traveling and have learned a new language or improved your negotiation skills. If you think about it, you will probably discover ways to turn personal talents into business skills.
Now that you have identified your strengths, it’s time to write your letter. Briefly describe the reason for your employment gap, but do not go into great detail. The secret is to present the facts, then move to accentuating the positive aspects of your experience. Here are a couple examples:
“My resume shows that I was out of the workforce for two years. I returned to school full-time to pursue an M.B.A. With my new credentials and recent graduate school experience, I have strengthened my business know-how and skills required for this position.”
“As you can see on the enclosed resume, I have a masters degree in education and more than seven years of teaching experience. While I was on leave from teaching over the past five years to raise my son, I recently began working as a substitute teacher in several local school districts and am anxious to resume a full-time teaching position.”
“Due to corporate downsizing, I have been out of the financial market for 10 months. However, during that time I have remained active in professional associations and pursued advanced education, completing six hours toward my M.B.A.”
All of these examples state the facts, but then demonstrate that the individuals were determined enough to educate themselves and remain active in their respective fields. Simplicity is key in keeping your explanation clear and concise.
Once you have stated your reasons for being away from the workforce, sell yourself just like you would in any other cover letter. Use the second paragraph in your letter to describe the skills you possess, past positions you held and professional accomplishments, and experience you have gained outside the workforce that relate to the open position. For example, if you held a position in public relations and have continued to hone your writing skills through freelance or volunteer assignments, be sure to highlight this:
“I have remained active in the field of media relations, serving as the chairperson of the public relations committee for the Boys and Girls Club. In this role, I successfully promoted many large-scale fundraising events and secured high-profile media coverage that resulted in an overall increase in public donations to the organization.”
The bottom line is that neither you nor a potential employer should view your time away from the professional workforce as a detriment. The main thing to remember when writing your cover letter is to keep it simple, to the point, and to emphasize your strengths. Keep your tone positive and enthusiastic. If you present your employment history honestly and spend the bulk of your letter outlining your skills and accomplishments, your cover letter can be the first step toward a great new job!
What are Resume Keywords?
What’s all this talk about keywords? We’re told they’re essential to a job search — we should use them in our resume and cover letters and use them when searching for job openings. But what are they really, and how do you know you’re using the right ones?
Keywords are specific words or phrases that job seekers use to search for jobs and employers use to find the right candidates. Keywords are used as search criteria in the same way you do research on the Internet. The more keywords you use, the more closely the job will match what you’re really looking for.
For example, if you type the word “retail” into a search engine, you’ll get literally thousands of job descriptions. But if you type the phrase “merchandising manager,” you’re going to get fewer and more useful results.
Get keyed up.
Most job postings are loaded with industry- and position-specific buzzwords. Take your cues straight from the source and include those same words in your resume. To find more keywords, research industry trends and visit professional association Web sites to uncover current buzzwords — especially those used by the hiring company or industry leaders.
Don’t get lost in translation.
Most companies use applicant tracking software, which scans resumes for keywords relating to skills, training, degrees, job titles and experience. Make sure your resume gets through the gatekeeper — present your qualifications as if the reader is comparing the words on the resume to a list of desired qualifications.
Remember the magic words.
Here are some specific examples of popular keywords. Make sure to also use keywords that are specific to your industry.
- Strategic planning
- Performance and productivity improvement
- Organizational design
- Infrastructure development
- New media
- Internet
- E-commerce
- Change management
- Team-building
- Leadership
- Competitive market
- Product positioning
- Investor and board relations
- Oral and written communications
- Problem-solving and decision-making
- MBA
- Project management
- Customer retention
- Business development
- Corporate vision
- Long-range planning
- Cost reduction
Kate Lorenz is the article and advice editor for CareerBuilder.com. She researches and writes about job search strategy, career management, hiring trends and workplace issues.
Tips for Temps
If you’ve been thinking about temporary or contract work while you sort out your career choices or gain experience, you’re certainly not alone. An increasing number of professionals are choosing project work, and there are numerous opportunities available. In fact, a recent survey of executives by Robert Half International shows that two-thirds (66 percent) of companies are using as many or more temporary professionals today versus five years ago.
It’s not hard to see why job seekers are attracted to this arrangement. Temporary professionals are often able to arrange their work schedules so they can effectively balance professional and personal priorities, and many — especially those with hard-to-find skill sets — earn more than their full-time counterparts.
But success in the role requires more than just responding to the first “temporary help wanted” sign you see. Here are some tips for getting the most out of interim work:
Find the right staffing service If you decide that becoming a temporary professional is the right choice for you, how do you get started? First, find the right staffing firm. Many staffing services have Web sites that describe the level of service they provide as well as the types of companies and industries they focus on. Your best bet is to identify a staffing firm that specializes in the field in which you have experience or interest. For example, if you’re an accountant, you want a staffing firm that specializes in placing accounting and finance professionals. These firms typically have the knowledge to understand your needs and the contacts to find you the job you’re looking for. It’s also wise to check with friends or family members who have worked with staffing firms in the past for recommendations. And call a handful of staffing firms in your area to ask the following questions:
How long have you been in business?
What is the market for someone with my skills?
How many openings do you currently have for the position I seek?
What makes your firm superior to others?
Also, pay attention to the details, like how promptly your inquiry is addressed and how you are treated over the phone. If your skills are a match for the types of jobs the staffing firm has available, you will be asked to schedule an interview with a representative from the firm. Bring a copy of your current resume as well as a list of references to the meeting.
Understand your responsibilities Once you’re offered an interim position, not only should you review the basic job duties and objectives with your staffing manager but also clarify all aspects of the job with your on-site supervisor upon your arrival. You’ll avoid misunderstandings and be more productive if you seek clarification up front. The more you can do to obtain a big-picture view of your assignment, the better you’ll be able to perform.
Ask for help and request feedback Employers expect interim professionals to hit the ground running, but don’t be afraid to ask for specific information that may be necessary for you to do the best job. This may include, for example, instruction on proprietary systems, unique business practices or customized features of a software application. Throughout the assignment, seek feedback on your performance from your supervisors and those with whom you work closely. Requesting feedback and remaining open to guidance and constructive criticism will enable you to be more effective.
Take temporary assignments seriously The biggest mistake interim workers can make is being shortsighted. While the position may be temporary, the impression you make is not. Remember that even brief assignments can offer many professional benefits, including opportunities to make valuable industry contacts and enhance your skills. Give your all from the first to the last day you’re on the job. Some temporary assignments will be more enjoyable and challenging than others. Nonetheless, bring the same level of energy, enthusiasm and professionalism to each job. In a recent survey by Robert Half International, 87 percent of executives said it is valuable to hire someone on a temporary basis as a means of evaluating him or her for a full-time position. The more professionally you approach a temporary assignment and the greater value you add to the project, the more likely managers will be to comment favorably on your performance to your staffing firm or even make you an offer for a full-time role.
Robert Half International is the world’s first and largest specialized staffing firm with a global network of more than 350 offices throughout North America, Europe, Asia, Australia and New Zealand. For more information about our professional services, please visit www.rhi.com.
Thinking of a Career Change? Five Tips
Have you been feeling like it’s time for a big change lately? Do you get the sense that your career is not the right fit for you? If you’re feeling frustrated, unchallenged and unfulfilled in your work, the time might be right for you to make a major change.
Changing professions, however, is not something to do without some serious thought and consideration, says Robin Ryan, Seattle-based career counselor and author of What to Do with the Rest of Your Life. Ryan offers these five keys to help you weigh your options and make a decision.
1. Don’t throw out the baby with the bathwater. Ryan says it is important to think about what your true feelings are about your current job and career. “You always need to consider if you really want a career change, or just a job change,” she says. “Is it the job you hate, or just the company?” Give some thought to what is making you unhappy and whether or not you could be happy in the same career if you were in a different environment.
2. Focus on your talents and strengths. “The No. 1 key is to build a career on your strengths,” Ryan says. Consider your natural talents or abilities, or those things that come easily to you. Do you find it easy to persuade others? Do you have a knack for working with numbers? Do you communicate better through the written word than you do in person? Think of your personal traits and use them to steer you in the right direction.
3. Highlight your transferable skills. Ryan says that when switching careers, you must pinpoint and highlight your transferable skills. These are the talents and experiences that can be utilized in many different careers and are not those things that are industry-specific. For example, if you have managerial experience, this is something that is useful in any industry. The same goes for communications savvy, computer know-how, writing proficiency, sales knack and event planning. Some experience may seem to be industry-specific at first, but can be turned into a transferable skill. Just make sure you portray your background in a way that is attractive to any hiring manager.
4. Know the requirements. Ryan says you need to know what qualifications are required for the field that interests you and also consider if you are willing to do what it takes. For example, someone interested in social work or nursing will likely need to pursue further education in order to be qualified. Entering a new industry might mean you need a certification or a license. Make sure you are willing to take these steps.
5. Network and do your research. It will be impossible for you to move into a new career if you know nothing about that field. Ryan suggests interviewing people who are doing the job you are interested in to find out if it is really what you want to do. She points out that networking is a great way to find out what is going on in the industry you want to break into. “You have to know the language,” she says. If you are making the switch from education to business or vice versa, there are vastly different terms and ways of speaking that you need to learn. In addition to interviewing others and networking, read trade journals or industry-specific books to help you develop your new language. The most important thing about changing careers is finding something that works with your personality and who you really are. Ryan says she tells people to ask three important questions: What are your interests, what are your values, and what are your strengths? Do this soul searching first and you should be on your way to a rewarding new career.
Kate Lorenz is the article and advice editor for CareerBuilder.com. She researches and writes about job search strategy, career management, hiring trends and workplace issues.
Top 10 Jobs in the Administrative and Clerical Field
While some people jot their grocery lists down on scrap paper, you have an Excel spreadsheet you update and organize into food groups. A born record-keeper, you keep files on everything from bank statements to holiday cards, and everything you can stock, shelve or stack is categorized by name, number, size or color.
Perhaps you should channel your knack for neatness into a job in the administrative or clerical field. Each of the following jobs will have numerous opportunities for workers with the right skills in the coming years.
Bill and Account Collectors
What they do: Keep track of accounts that are due and attempt to collect payments on them.
What they need: At least a high school diploma for most collectors; however, most employers prefer some college or similar work experience. Good communication and computer literacy skills are a must for this work.
What they earn: $28,949/year*
Gaming Cage Workers
What they do: Carry out financial transactions and paperwork necessary to support play at casinos and gaming establishments.
What they need: Although there are no minimum educational requirements, a high school diploma and some previous experience in the gaming or financial industry is preferred.
Average salary: $24,004/year
Payroll and Timekeeping Clerks
What they do: Something for which we should all be grateful: ensure that employees are paid on time and accurately.
What they need: A high school diploma or GED, but those with computer skills will find the best opportunities.
Average salary: $30,923/year
Customer Service Representatives
What they do: Serve as a direct point of contact for customers on behalf of companies to ensure an adequate level of service or help with questions and concerns.
What they need: A high school diploma for most jobs, but employers increasingly require an associate or bachelor’s degree. Workers who communicate through e-mail will need good typing and written communication skills.
Average salary: $26,369/year
Hotel, Motel and Resort Desk Clerks
What they do: Register arriving guests, assign rooms and check out guests at the end of their stay, as well as keep reservation and registration records.
What they need: In addition to on-the-job training, customer service skills, a professional appearance and a clear-speaking voice are essential for dealing with customers, both in person and over the phone. Additionally, knowledge of multiple languages are ever more valuable due to the growing international clientele at many establishments.
Average salary: $19,311/year
Human Resources Assistants
What they do: Maintain the human resource records of an organization’s employees, including names, addresses, job titles, earnings, benefits and tax withholdings.
What they need: A high school diploma or GED. Candidates can receive training on the job, but those who already have proficiency in computer filing systems and applications like Microsoft Word and Excel will find the best job opportunities.
Average salary: $29,167/year
Library Assistants
What they do: Register patrons in the library’s system, issue library cards and collect books, periodicals, videos and other materials.
What they need: A high school diploma or GED, with little to no previous clerical experience: Many libraries will train inexperienced workers on the job. Computer skills, however, will most likely be required.
Average salary: $24,913/year
Receptionists and Information Clerks
What they do: Answer telephones, route and screen calls, greet visitors, respond to public inquiries and provide information about the organization.
What they need: A high school diploma or its equivalent, as most receive on-the-job training. But because they often greet and speak with visitors, good interpersonal skills and a professional appearance are critical.
Average salary: $22,069/year
Dispatchers
What they do: Schedule and dispatch workers, equipment or service vehicles to carry materials or passengers. They also keep records of calls, transportation vehicles and services.
What they need: A high school diploma and familiarity with computers and electronic business equipment are most preferred. Typing, filing and recordkeeping skills also are an asset.
Average salary: $28,243/year
Desktop Publishers
What they do: Use computer software to format text, photographs, charts and other visual graphic elements to produce publication-ready material such as books, business cards, calendars, magazines, newsletters and newspapers.
What they need: Most often, completion of classes or a certificate program from a vocational school, university or college program. (The average certificate program takes approximately one year.) Some publishers, however, train on the job or gain experience through internships or part-time work.
Average salary: $31,443/year
*Salary information provided by CBsalary.com.
Great Part-Time Jobs with Discounts
Extra cash and work experience are two great reasons to pick up a part-time job. But the employee discount never hurts. Employee discounts are all but expected in some industries — retail being a prime example. According to a poll by Maritz Research, 89 percent of people looking for retail employment want their companies to offer discounts on its products or services.
Employers have even started offering employee discounts to the general public. In 2005, Ford, Chrysler and GM all offered all of America the chance to cash in on the discounted automobile rates paid by their employees.
“(Offering employee discounts) definitely improves retention,” says Bob Schiff, senior vice president of YouDecide, a company that helps employers provide voluntary benefits and discounts for their workers. Schiff says that after his company puts all of an employer’s benefits on one portal on its HR intranet, “it increases intranet traffic by 300 to 400 percent.”
Even colleges and universities have gotten into the game. Duke University, for example, offers its employees everything from discounted cars to cheaper salon services, gym memberships and foreign language classes. Not all companies advertise their discounts, so to get more information on a company’s incentives, your best bet may be to talk to current and former employees or read online message boards.
But here are a few hints for finding employment that will bring you more than just a paycheck:
If you’re a fashionista… Consider a job in retail. Most stores encourage their employees to wear their apparel at work, so they offer hefty discounts to their workers. Gap, for example, reportedly offers employee discounts ranging from 30 to 50 percent at Gap, Old Navy and Banana Republic.
If you’re a caffeine junkie… Consider a job as a barista, where you can get your caffeine fix both at work and out of the office. At Starbucks, for instance, you get free drinks while working, and employees get to bring home a pound of coffee each week!
If you’re a jet-setter… Look for open positions at an airline. Beginning on their first day of employment, employees of Southwest Airlines get unlimited free flights, as long as there is space available on the plane. Southwest also has discounted travel arrangements with other carriers.
If you’re a foodie… Consider working for a grocery store, where you can stock up on all your recipe ingredients for cheap. Trader Joe’s gives all employees a 10 percent discount and Publix Supermarkets offers premium pay for working Sundays or holidays.
If you’re a movie nut… Consider a job at a movie theater or video rental company. Blockbuster reportedly offers its employees free DVD rentals — enough to satisfy nearly any movie lover.
What’s Missing in Your Job Search
Most candidates have one thing in common: lack of preparation.
In order to nail your next job interview, you must be prepared. You should have specific, measurable, time-bound goals and a strategic plan. It’s critical that you know what you are looking for. Preparation is the key to maximizing your impact.
Here are 10 hot tips to get prepared for your next interview:
1. Know yourself
The biggest mistake that candidates make is that they look at their résumé only at the time that they write it. You must review your résumé several times a week. Remind yourself of your accomplishments. You are the only person who has the capability to toot your own horn! Know the difference between confidence and arrogance. Being confident in your skills is desirable and being arrogant discussing your abilities is not. It’s OK to talk about yourself as long as you know when to stop.
2. Be accountable
Make sure to be responsible for the time that is not listed on your résumé. Use this to share ways that you have kept your skills sharp. This will show that you are a leader in your field and you take initiative.
3. Consider the pay
Be clear in knowing what your compensation requirements are before your interview. Understand what the salary band is for the position. Know the difference between your needs versus market trends and value. Be very specific in developing your interview around demonstrating ways that your skills will bring value to the company.
4. Show quantifiable results
Every hiring manager is thinking about budget during the interview. Be prepared to discuss ways that your background will drive revenue and increase profits or save money. Share ways that your previous contributions have supported the accomplishment of the corporate goals and objectives.
5. Know your limits
Understand all the details of the position for which you are interviewing. Be prepared to share your accomplishments as they pertain to the requirements in the job posting. Stay focused and don’t try to oversell your capabilities.
6. Research the company
Research the company and know why you want to work there. Understand the backgrounds of the people with whom you will be meeting. Be ready to discuss the company’s products or services. Monitor the About Us and News/Press sections of the company’s Web site. The Web site may also show market presence, trends and corporate values.
7. Arrive early
Show up to the interview location early. Watch people as they come and go to and from the office. Observe their body language and their pace. A company that fosters a healthy corporate culture will also have people who love their job. This will be obvious as you observe the employees.
8. Bring extra copies
A good rule of thumb is to bring two more résumés than you think you’ll need. In other words, if you are scheduled to meet with three people, bring five copies of your résumé.
9. Prepare emotionally
You are under evaluation from the time that you arrive to the time you leave. Be mindful of your surroundings and the people around you. Your cell phone should be turned off. Your appearance and demeanor should be friendly and focused on the interview and “closing the deal.” Smile a lot and be personable and engaging.
10. Have patience
Schedule your time accordingly. Expect to wait. Sleep well the night before your interview and never yawn during the discussion!
If you do your homework well, you will be extraordinarily successful in your interview. It will become easy for you to open new doors of opportunity towards landing the job of your dreams!
Dean Tracy is a professional recruiter, public speaker and career coach whose personality and enthusiasm have inspired hundreds in the midst of their career transitions. Dean is based in Northern California and his professional emphasis is on placing and coaching IT professionals at a national level. He also serves on the leadership team for one of Northern California’s largest and most reputable professional networking groups, Job Connections and manages annual Northern California Career & Leadership Summit. Contact him at Dean@DeanTracyJobs.com or www.DeanTracyJobs.com.
Over-40 Friendly Industries: Harnessing the Age Advantage in the Work Force
No longer a spring chicken? No problem. According to Gail Geary, author of “Over-40 Job Search Guide,” age, maturity, wisdom and experience can work to your advantage in a job market dominated by less-seasoned something. “An older worker brings an immediate return on investment to an employer,” Geary comments. “That’s something someone fresh out of college can’t do.”
With the baby-boomer generation approaching retirement, resulting in a shortage of approximately 10 million employees over the next decade, candidates with relevant work experience are becoming more in demand. That gives older employees more leverage to request bigger paychecks and to change jobs later in life, Geary says. She adds that fields such as health care, business-to-business services, education and services for the elderly are practically custom made for the older worker considering a job change.
To find out how to get into a challenging new career, check out these over-40 friendly industries.
Health care
Diverse, high-paying and currently in the middle of an employment boom, health-care positions ranging from medical doctor to entry-level administrator are prime territory for qualified personnel of any age. The United States Bureau of Labor Statistics (BLS) reports that between 2004 and 2014, the field will demand approximately 3.6 million jobs — more salaried positions than any other industry.
One of the reasons health care is attracting older employees, Geary says, is because the industry is both lucrative and flexible, offering full-time, part-time, seasonal and freelance positions designed to fit any worker’s schedule. And for many health-care positions, such as lab technician, hygienist, therapy assistant and medical-billing specialist, necessary schoolin or certifications can be comd like to continue their education, a bigger degree translates to a bigger salary. Positions such as doctors, surgeons, nurses and physical therapists involve more rigorous medical training via a longer educational commitment; however, students
As the job market shifts from offering secure, lifelong positions to shorter-term jobs with no benefits, Geary says that employees will be forced to adapt, forming a career out of several part-time or freelance positions instead of one steady full-time role.
“The prediction from the Bureau of Labor Statistics is that by 2010, 65 percent of us won’t be employees. We will be employed, but not employees,” Geary comments. “Companies want to be profitable and lean, so it’s important for older workers to be aware and to embrace the trend.” Because health care comprises so many types of jobs, and can accommodate a broad spectrum of work schedules, job changers in this field have their choice of where and when to work.
For Dr. Maurice Hodos, former chiropractor and current health-fund administrator for the United Food and Commercial Workers International Union (UFCW), it’s the flexibility within the health-care industry that enables him to pursue all of his professional interests without getting pigeonholed into one career. Tired of dealing with the insurance end of medicine, Hodos enrolled in an online health- and welfare-plan certificate program through the International Foundation of Employee Benefit Plans (IFEBP) and began consulting for health insuran.
“I had been involved in consulting for so many years, it made changing over to it full time a very smooth transition,” Hodos comments. “When I decided to close my practice, I was going into a world that was fairly well-known and it wasn’t like breaking down doors at all.”
Consulting on the side made Hodos more marketable, supplementing his medical background with experience negotiating health contracts and leading to a new career with reduced working hours. In fields like consulting that value industry experience, older workers have a significant edge over their fresh-faced competitors.
Business-to-business services
Peripheral services such as accounting, telephone and Internet services, legal representation and human resources are slowly being contracted out to business-to-business (B2B) companies. Rather than hire and make room for in-house staffers, many companies are opting to send this work to B2B agencies. On the Forbes annual “America’s Best Big Companies” list, 23 of the 400 firms profiled specialize in busines
For information-technology (IT) worker Everett Irving, that means greater opportunities in the field of consulting and business strategy for those with experience. Switching from a systems-management position to an IT-consulting job at the age of 52, Irving says that age actually played to his advantage.
“Once you’ve been in something like systems management for a while, by default you become an expert,” he comments. “Thanks to the network I had established over the years, I was quickly able to hook up with [a B2B] company that put me in an IT-consulting role.”
Though the transition from industry insider to a consulting role varies from field to field, consulting-certificate programs in most areas can be completed in two years or less and often can be completed online at your convenience.
Education
An easy transition is the reason many older job changers flock to the field of education, Geary says. Encompassing teaching, as well as research, administrative and specialized education roles, the education sector is currently ranked as the fastest growing field, along with health care, according to the BLS. The National Education Association (NEA) reports that the United States is currently experiencing a massive teacher shortage with more than 2 million teaching positions needing to be filled in the next 10 years.
Enter employees over 40. Because turnover is high within education professions — one out of every five new teachers leaves the classroom within three years — workers entering the field at a later age, even those without a teaching license, are highly in demand. To make the transfer easier, most states offer provisional or alternative licensing programs that allow newbies to step into the classroom while simultaneously pursuing their teaching certification. Designed to recruit workers from noneducational fields, alternative licensing programs provide wannabe teachers with paid positions for two to three years as they complete mentoring and in-class study to become a fully licensed teacher. According to the National Center for Education Information (NCEI), people who use alternative-licensing programs tend to be older and nearly half were working in a noneducation occupation prior to entering.
Companies such as IBM are also doing their part to stop the teacher shortage through embracing the trend of older workers dominating the classroom. Thanks to the company’s Transition to Teaching program, IBM grants early retirees who want to become full-time math or science teachers $15,000 in tuition reimbursement as well as a four month leave of absence from their current job to complete a student-teaching practicum.
Services for an aging population
As the estimated 76 million baby boomers reach retirement age, they’re prompting the growth of innovative new firms specializing in health and care of the elderly.
“The baby boomers are much more affluent than previous generations,” Geary comments. In addition to traditional health care services, Geary says that the boomers are also interested in luxury services, including physical-fitness facilities, spa treatments, cosmetology services and travel packages aimed at senior citizens. Older workers — those more likely to connect with and understand the needs of the generation ahead — can find positions in anything from personal training to guiding tours. The U.S. Census Bureau reports that between 2003 and 2030, the elderly population is expected to double, giving mature employees more opportunities to get out of their old jobs and into new careers.
When it comes to finding a new job later in life, Geary says that the key is to highlight your assets such as industry experience and networking skills, while keeping workplace trends including decreased employer loyalty and the needs of an aging population in mind.
“I’m optimistic for the future for older workers; there are many opportunities open to people in their 40s, 50s and 60s if they’re open-minded,” Geary states. “They just have to be aware of approaching the right opportunities in the right industries.”
Many of us fantasize about owning our own companies. Nearly one million new businesses are launched each year, but more than 85 percent will close within five years. There are some key indicators of who will be most effective as owners. Take this quiz to help you determine if you have the burning desire, discipline and resources to become your own boss.
Are you a self-starter? It will be up to you, not someone else, to develop the business, organize the projects, manage your time and follow through on details.
Can you handle the uncertain financial risk? Businesses all have cycles, the ebbs and flows in profitability. Once it’s started you’ll have overhead and operational expenses that must be met before you get paid.
Do you have good business skills? You must attract customers. New and repeat customers are the lifeblood of your business. You must possess or learn these skills — accounting, business planning, operations, sales, marketing and customer service — to survive and succeed.
Do you have the stamina needed to run a business? Business ownership is a lot of work. Can you face 12-hour work days, six or seven days a week, every week?
Are you motivated by achievement? Many entrepreneurs get great joy out of the daily “wins” they get from doing business. They find it’s a competitive game and satisfying way to fulfill their instinct to achieve. They have fun doing it. These people have a passion and driving desire to come in first. They are doers and want to derive benefits from their efforts and labor. They are unlikely to get “burned out” or worn down by carrying all the responsibilities of the business on their shoulders.
Are you a good decision-maker? Business owners are required to make decisions constantly, quickly, under pressure and independently. Do you research and examine all options on important decisions to minimize your risk, but then decide and go forward?
How well do you handle different personalities? Business owners need to develop working relationships with a variety of people including customers, vendors, staff, bankers and professionals such as lawyers, accountants or graphic artists. Your ability to successfully deal with demanding clients, unreliable vendors or cranky staff people in order to benefit your business will directly impact your success.
How will the business affect your family? It’s hard to balance work and family demands during the first few years after starting a new business. There may also be financial difficulties until the business becomes profitable, which could take months or years. You may have to adjust to a lower standard of living or put family assets at risk. Can your family deal with the challenges business ownership requires? Although many entrepreneurs go on to make large incomes, the “lean years” are a necessary part of the evolution and business growth cycle. Equally important to consider are the many job perks — paid vacations, sick days, medical and dental insurance, stock options, cars, health club memberships — that disappear when you own the company. Think about the extra costs you will now incur.
How will you deal with the isolation? Once you go off on your own, you’ll be just that — alone. Can you deal with being isolated? Will you miss the status, respect and collegial connections that you had while working for an employer other than yourself? Don’t underestimate this — it’s the reason many consultants and service business owners close their own operations and re-enter the corporate world.
Can you go two or three years without an income? List start-up resources to buy/start and run your business. Note sales and break even points as well as profit projections. Be conservative in your estimates on how fast you’ll be able to turn a profit. Develop family and business budgets that support you and your family while your business is beginning to grow.
Robin Ryan has appeared on the Dr. Phil Show, Oprah, NBC Nightly News with Tom Brokaw, CNN, CNBC and is considered America’s top career coach. She is the best-selling author of: “60 Seconds and You’re Hired!;” “Winning Resumes;” “Winning Cover Letters” and “What to Do with the Rest of Your Life.” She’s the creator of the highly acclaimed audio training program Interview Advantage and The DreamMaker. To purchase her books and audio training programs go to www.robinryan.com. Sign up here for Robin Ryan’s eNewsletter.