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Relaunching Your Career After 50

At a time when many of the 50+ demographic would have been looking toward retirement, the recently ended economic downturn has made it necessary for some to work further into their later years than originally anticipated.  While companies may be pleased to discover that they won’t have to be placing as many help-wanted ads, you may not be looking forward to another 10-15 years spent in your current employment situation.  Maybe a shift in profession was something you had put off for many years, yet realizing you will now be there longer than initially projected has you feeling as though a change is requisite.

Relaunching After 50 - older business man holding glasses

Choices

Maybe you selected your profession before you truly understood what you were interested in, or even the consequences of your choice.  Nowadays, it’s anticipated that most people under 50 will change jobs every three or four years, while the older group is more inclined to remain with a single organization for their whole working career.

The problem is that there is a bewildering array of possibilities out there.  You could certainly stay where you are, if you enjoy it.  You could switch to a different department within the same company to explore options that intrigue you.  You may even consider starting a brand new company, leveraging years of accumulated experience.

You have probably built up a remarkable network of contacts over the years.  Perhaps you local symphony, museum of art, national gallery, or opera house might love to have you as head of charitable fund raising.

Maybe there is a skill you’ve always wished to acquire, such as computer programming.  Going back to school and increasing your aptitude not only makes you more valuable, but the longer we live, the more dependent we are going to become on technology, so having a strong grasp of the fundamentals is a self-benefiting bonus as well.  Furthering education entails no age limit, and happens to also be a fantastic option for the early retiree looking to re-enter the workforce.

Recommendations 

Make a list of what you really enjoy, right next to a list of selections you never want to revisit, and use this to review your possibilities.  If you only want to work for another two or three years you can probably cope with being dissatisfied, but if you’re looking at another decade or two, you’re definitely going to need something that will sustain your interest, so don’t be hasty.

If you have decided you are ready to enter the job market, you may be certain that your years of experience will be an undeniable asset.  While this is true on many levels, relying on this factor may also draw more attention to your age and stage in life.  It’s best to make as little reference to your age as possible, and the first way to do that is to shorten your resume.  It is not necessary to list every position you have held for the past 25 years.

Additionally, since many older members of the workforce are not known to be as technologically inclined as their younger counterparts, it’s important to highlight your fluency in this area.  Including your LinkedIn profile URL on your resume or mentioning information you gleaned on your company through their Facebook or Twitter feed are small ways to successfully indicate that you are savvy to the modern tech world.

Another option you may want to explore, is consulting.  This is frequently a wonderful choice for established workers, well-versed in their field and looking for a significant change of pace in later years.  Providing training or applicable insight to others in your line work can also prove quite lucrative.

It is important to remember that while you may feel as though you need to beat the odds as an older member of the job hunting world, you also possess contacts, networking abilities and skills that the younger generation simply hasn’t had the chance to attain.  This alone, should give any 50+ job seeker the confidence and hope that change is possible at this stage in their lives.

Relaunching after 50 - businessman-with-stopwatch-head--time-concept

The Takeaway

Outdated is the expression, “Too young to retire; too old to start over”.  Employers want skills, and skills are exactly what you have.  It’s important not to be overwhelmed by all the possibilities.  If you’re still employed and looking for a change, take your time and find something that really appeals to you.

 

By Fred Coon, CEO

 

Stewart, Cooper & Coon, has helped thousands of decision makers and senior executives move up in their careers and achieve significantly improved financial packages within short time frames. Contact Fred Coon – 866-883-4200, Ext. 200

Networking Your Way Toward a New Career

Job hunting can be an arduous task, especially if you are unemployed.  However, even in this case, your “job” is to find a job.  If you get up every morning, spend eight hours each Networking_businessman-hand-drawing-social-networkday genuinely and actively looking for work, chances are you will find a paying position in a relatively reasonable amount of time.  Nevertheless, there are strategic ways to speed up the process.

 

Here, we will explore networking, one of the most effective ways to increase your odds of finding, not just a job, but a career position.

Overlooked Networks

When searching for work, our first course of action is usually to scour the internet and local publications.  Yet, it’s common to overlook, or even underestimate, the merit and value of the people you know when it comes to expanding your job hunt.  The entire world is connected in so many seemingly unobserved ways that we often have no real idea of who we’re connected to.

Nowadays, your average citizen has over 600 contacts.  Naturally, that includes your friends and relatives.  Others inside your sphere are former coworkers, employers, employees, schoolmates, associations, gymnasiums, religious institutions, political affiliates, parent/teacher organizations, trade unions, or any other social groups or clubs you may belong to.

It’s a good idea to put the word out in as many places as possible that you are looking for job-leads; as they can arise in any place, even when least expected.

Job Fairs

No matter your age or professional level, job fairs are a common, yet helpful way to increase the size of your network.  If they are closely aligned with your expertise or interests, that is an obvious advantage; however, there is really no reason to skip any particular job fair.  Even companies in the most unlikely fields still need Accounting, Operations, HR, and Project Management leaders and staff.

Grow Digitally

Of course, Facebook, Twitter, and LinkedIn are there for the taking, yet, in the world of job-seekers, we know that social media is particularly inundated.  Conversely, by being influential in your field and community, you will automatically appear on the radar of recruiters who are looking for exceptional people.  The best way to achieve influential status is to participate.  Answering questions and contributing to discussions in a thoughtful and useful way shows that you offer value to a situation and are an asset to your community.

Valuable Contacts

The contact doesn’t have to be from your specific industry in order to be deemed valuable.  A good network has a wide variety of people in it, from a range of professions.

Networking_businessman-on-phoneHow do you decide if someone is a good contact?   If they are passionate about something, and seem to find you interesting, that’s a very good basis for connecting with them as a contact.

From a practical standpoint, if you want to connect with them, then chances are dozens of others have most likely felt that way before.  Consequently, that person probably has a large network which you can also tap into.

Stay Connected

One of the most common mistakes is to build a network and then not maintain contact with it.  Stay in touch, but don’t spam your contacts with useless content, just to remain seen.  Moderation and mindfulness are imperative.

If you come across something interesting, figure out who might find it useful, and pass it on to them (only).  If you’re attending a conference, this might be worth mentioning, particularly if you’re seeking advice about how to obtain the most benefit from it, as this would be a good opportunity to let other people feel useful to you by offering their insights.  Remember the “give and take” motto to keep the relationship balanced.

 

The Takeaway

Generally speaking, there are no bad contacts.

Case in point, William Wrigley Jr. started out selling soap door-to-door, and began giving away baking powder to encourage sales of soap.  He switched to selling baking powder when he realized that his customers wanted that more than they wanted soap.  Subsequently, he then started giving away chewing gum to encourage baking powder sales, but he suddenly learned that his customers’ demand for the chewing gum had exceeded even the baking powder.

Now, imagine having befriended William Wrigley Jr. when he was simply a soap and baking powder salesman, before he founded Wrigley’s Gum, with more than $10 billion in assets and annual sales last year.

Regardless of the source, if you share a connection or common ground with someone, that’s a good reason to have them in your network.  If you only have people who are more successful than you in your network, you might not have much to give back.

On the other hand, helping someone who might be successful next week, or next year, can offer a remarkable payback.  Be helpful; be noteworthy; be rewarded.

By Fred Coon, CEO

 

Take your job search and LinkedIn profile to new levels and achieve your career goals with LinkedInSecrets.us. Leveraging LinkedIn for Job Search Success 2015 will transform how you use LinkedIn on a daily basis and create a profile that will WOW recruiters and hiring managers.

Unemployment Analysis for July 2016

Considering all of the economic data reports available to us, unemployment statistics in particular, can tell us a great deal about the state of our current economy, especially when Unemployment Analysis - Office Buildingsreviewed comparatively.  Here, we will look at the current U.S. employment situation, according to research recently reported by Sterling National Bank.

Basic Unemployment Rates

As of July, 2016, the U.S. Bureau of Labor Statistics accounted that the total nonfarm payroll unemployment rate actually increased by 255,000, as the general rate of unemployment remained consistent at 4.9 percent.  The growth was seen to have occurred in the health care industries, business services, and finance.  A descending employment trend was reported in the mining industry.

Bearing in mind these figures, it makes sense that the number of unemployed persons was virtually unaffected at a stable 7.8 million since August, 2015.  However, the reported number of individuals who were unemployed less than 5 weeks showed a downward trend of 258,000, while those out of work for a minimum of 27 weeks remained unchanged over the month’s time.  This latter category of unemployed covered 26.6 percent.

Partially Employed

Also showing minimal fluctuation during the month of July, were the labor force rate of participation (62.8 percent) and the employment/population ratio (59.7 percent).  Additionally, the amount of individuals who preferred full-time employment, but sustained part-time employed due to reduced hours or the inability to find sufficient full-time work (aka “involuntary part-time workers) remained unchanged at 5.9 million.

Ready, Willing, and Unable

The demographic of individuals ready and willing to work, who had sought employment sometime during the 12 months preceding this report, were not counted as technically Unemployment Analysis - Hire Me Device Screensunemployed because they had not searched for a job within the 4 weeks prior to the survey, however the data was not seasonally adjusted.  Regardless, this accounts for 2.0 million persons who are considered “marginally attached” to the work force, also, unchanged from the year before.

In the midst of this group of marginally attached workers, 591,000 are considered “discouraged workers”, which refers to individuals who have ceased their job searches under the belief that there are no available jobs to be found.  (Again, this data is not seasonally adjusted.)  Conversely, the 1.4 million remaining persons considered attached marginally to the U.S. labor force had discontinued their particular job searches due to reasons relating to family responsibilities and school attendance.

To Conclude

The reasons for any particular unemployment trend, whether unchanged, declining or on an upswing, can be based on a myriad of factors.  However, to really study cause and effect, it is important that we begin with an accurate and comparative statistical analysis to eventually achieve improvement and resolution.

By Fred Coon, CEO

 

Take your job search and LinkedIn profile to new levels and achieve your career goals with LinkedInSecrets.us. Leveraging LinkedIn for Job Search Success 2015 will transform how you use LinkedIn on a daily basis and create a profile that will WOW recruiters and hiring managers.