Income Inequality and Your Career

One of the paramount issues of the 2016 presidential election is emerging in the form of income inequality. There is increasing consensus recognized by Democrats and Republicans alike that economic growth is not as evenly distributed among the working and middle-management classes as it had relatively been prior to the 1980s. 

Data from a variety of economists such as Thomas Piketty, Robert Reich, Barry Cynamon, Steven Fazzari and others have been publicly presented showing a concentration trend of higher income growth among the very rich and away from the 90% – 95% of the rest of us. In fact, the pace of income inequality has been picking up in recent years. 

Why is this a problem aside from the feeling that it is not fair? Well, if the bulk of consumers do not have as much income to spend, then suppliers of products and services cannot sell as much. Yes, the rich can buy a lot, but they do not buy as much as the 90% – 95% of us do.  

The result is depressed economic growth and lower incomes for consumers and suppliers. Borrowing and credit may help us hang on to a chosen lifestyle in the short term, but as we saw in the recent recession, over-leveraging can lead to big problems. 

It seems that this orientation toward concentrating money and power among a few is historic across all economic systems, including aristocracies, dictatorships, monarchies, oligarchies, communist regimes, and yes, even capitalist countries. Economic fairness says we should resist this inclination. From a career development perspective sluggish economic growth across a wide swath of the population means employment suffers and careers stagnate. This is not a sustainable situation. 

Positions regarding the issue are being staked out by candidates from both parties. I see problems with the arguments receiving attention at this point. Republicans in my view will have a hard time saying they do not contribute to the problem with their steady drumbeat of reducing constraints on big capital and encouraging wealth enhancement for the rich. Democrats will have a difficult time gaining public support if all they can rely on is their standard Robin Hood politics of taking money from the rich and governmentally distributing it to the poor. This is undoubtedly a complex issue that will require vigorous debate. And it looks like the recently begun presidential election cycle will provide such a discussion. 

It is unlikely that we will ever or should get to a point where certain employment and generous compensation outcomes are guaranteed for all. Therefore, individual career choice necessarily requires one to examine not only one’s singular interests and strengths, but also to determine the economic viability of one’s decision. 

A career option that may have had an appealing and fruitful past may not be projected to be so in the future. The employment landscape is too susceptible to forces of change at both local and global levels to think that a government or a company can sign up workers for long-term and predictable jobs at a steady living wage. 

This prompts me to look for areas where all parties should try to hammer out agreements in response to income inequality and its effect on careers. I recommend reinforcing and boosting opportunities for all middle class workers. I see three parts (in no rank order) to achieve this. 

Part 1 involves electing politicians not afraid to enforce fair tax policies designed to mitigate the hoarding of capital by the few.  

Part 2 involves giving a hand up to displaced middle class workers through higher minimum wage rates and abundant education and training opportunities to better prepare them for success and advancement in a globalized and automated economy.  

Part 3 involves following the notion that to fish successfully one needs to fish where the fish are. Hence, part of the answer to the shrinking middle class needs to be that middle income workers capture the greatest amount of capital possible by producing goods and performing services that are in high demand with those holding the most money. 

An artful combination of free market and government intervention could together level the income playing field and increase incomes for those whose wages have languished for too long.   

The State of Careers in New Hampshire

The 2014 In Review: Recovery report recently released by the New Hampshire Employment Security Department and the Economic and Labor Market Information Bureau is a very detailed and informative analysis of New Hampshire’s post -recession economy.

In addition to being concerned about the economic health of my state as a citizen, I am also intrigued by the report’s implications for the careers of all New Hampshire workers. I have read the report in an attempt to identify some useful indicators in determining the current and future status of career development opportunities for the state’s workforce. What follows are my career-related takeaways from 2014 In Review: Recovery:

There are several labor market-related indicators used to view the economic health of New Hampshire. The ones I think that can be used to derive the desired career information are Unemployment and Current Employment Statistics; Employment by Supersector (broad employment-industry categories); Average Hourly Earnings; Business Employment Dynamics; and Population. When taken together a picture emerges of a state with career promise for many, but within a limited number of industries and a long-term pattern of slow economic growth.

News flash! Unemployment rates rose during the Great Recession! So where are we now? The seasonally adjusted unemployment rate for this past March in New Hampshire was 3.9%, which was eighth in the nation. We are essentially tied with Vermont in having the lowest rates in New England. Nationally, the rate in March was 5.5%. Statistically, eighth out of fifty does not sound too bad. Anecdotally, the “Help Wanted” sign are reappearing in business windows state-wide.

This sounds like good news, but if we dig into the data deeper we see some sobering facts. New Hampshire has a shrinking labor force that appears to be influencing the unemployment rate. As an aging state we are experiencing a trend of fewer people participating in the workforce. This fact, combined with low rates of in-migration and limited entrepreneurial expansion, is resulting in slow economic growth. To be sure there are a few bright spots, such as in advanced manufacturing, but this is not translating into being a game changer.

In looking at employment by Supersector we see that the four most robust categories of hiring are in Trade, Transportation, and Utilities; Education and Health Services; Professional and Business Services; and Leisure and Hospitality. Among the hiring laggards are Manufacturing and Construction. When we examine earnings in these Supersectors there have been increases in Education and Health Services and in Trade, Transportation, and Utilities. Pay reductions occurred in Manufacturing and Professional/Business Services. Leisure and Hospitality held steady.

Viewing current hiring in the context of near-term economic and demographic trends, including steady or declining population growth, a low level of in-migration, relative high levels of well-off retiree disposable cash, and a listing as sixth nationally in median household income tells me hiring tendencies are not likely to change dramatically. If you intend to live for a while in New Hampshire, plan your careers accordingly. We do not have an economic climate that is significantly attracting many skilled workers from other states or countries. Therefore, competition for jobs is likely to come from other NH residents.

Taken together, all of this news may suggest that careers oriented toward a graying population, such as in certain types of retail and niche services given this population’s spending capacity, financial management and wealth preservation wishes, leisure and hospitality, and of course healthcare needs should be considered.

Beyond that, Professional and Business Services hiring has recovered well from the recession. New Hampshire businesses still need accountants, HR professionals, operations managers, and technicians among many other business service pros. Career areas to watch out for include those feeling downward pressure from an aging population, such as public school teachers facing declining enrollments and construction workers encountering curtailed building expansion.

A direction that would be encouraging to see turned around is our level of entrepreneurship. More creative ideas and risk-taking on the part of individuals willing to start businesses targeted to improving the lives of New Hampshire residents just might enhance our standard of living and boost economic growth simultaneously. Now there is a career option!

 

 

 

Preparing Your Career for a Binary Star Economy

Career Development is as fluid a field of study and method of personal improvement as can be found anywhere. Its progressive elasticity and growing erratic nature are due to the changing state of the world of work. In an environment that requires continual improvement, adaptability, and thorough planning as does ours, long-term career design can be a difficult and uncertain endeavor. 

As discovered by ancient mariners when navigating vast and strange oceans, it helps to have a North Star to serve as a beacon and guide. As we each seek to chart an unclear and enigmatic career development landscape for purposes of changing existing careers or determining new ones, we too can benefit from a North Star. However, Binary Star may be the more apt metaphor — a system consisting of two stars orbiting around their common center of mass. This is because the duality we must now regularly consider are the two interdependent powerhouses known as globalization and automation. 

The future of work appears to be heavily influenced, if not governed, by these two harbingers. In tandem, globalization and automation are in a process of modifying the way we live, and therefore how we work. The expanding utilization of technology combined with the spreading integration of people, businesses, and governments around the world is altering economic history in a way that has not happened since the Industrial Revolution. 

As paradigm shifting as the change from hand work to mass production was a hundred plus years ago, we are now witnessing a transformation just as groundbreaking, if not more. When people like Ray Kurzweil, the 67-year-old Director of Engineering at Google, predicts that by 2029 computers will be able to perform all tasks humans can now do, only better, then I pay attention — and you should too. 

It is not just the prognostications of one man that matter (and he has some doozies), but the unmistakable short and long-term trend lines indicating rapid proliferation in new and disruptive technologies and business models (think Airbnb, Uber, SaaS, MOOCS) and increased activity in what the International Monetary Fund refers to as the four basic aspects of globalization: international transactions; capital movements; migrations of people; and knowledge dissemination. 

Ask yourself, how well do your career plans hitch themselves to the forces of globalization and automation? It is wise to look for some connection. Enough current work is already being made redundant and new ways of organizing work tasks are in the process of being discovered. If I was as prescient as I wish I could be, I would now present a neat and tidy list of specific and guaranteed jobs of the future. But alas, I am not that farsighted. Nevertheless, here is what I think will help in preparing for the Brave New World and strengthen our decision making as we move forward. 

Paramount is the need to remain optimistic in the face of uncertainty. Pessimism and hand wringing will not fortify us against ambiguity. Those who will find success are those with a positive attitude allowing themselves to see and grasp an opportunity others do not or cannot. 

We also need to get back to having big ideas. The Hoover Dam, the Golden State Bridge, and the Empire State Building were all built during the Great Depression. Winning World War II, constructing the Interstate Highway System, and launching six crewed moon landings followed. Today we are all in a twist about whether to extend health insurance to the uninsured and whether to fund bridge repairs. Big problems exist that need substantial solutions. Let us find our lost courage to make grand proposals and realize lofty outcomes. 

Free thinking of the type that stimulates innovation and entrepreneurship also needs to be encouraged. This has always been America’s strong suit and it demands continuation, if not invigorating, in an ever-competitive global economy. Our schools for one can do a better job of transitioning from the mechanized industrial-aged model to one more consistent with a broad-minded enterprising ethos. 

Business dedicated to sharing, rather than old fashioned consumption and disposal of resources is becoming fashionable — and profitable. Making money by sharing homes, cars, locally grown foods, breweries, office spaces, etc. is becoming increasingly common. Disruptive of legacy business models to be sure, but isn’t that the way it is going these days? From an ecological viewpoint, an economy that utilizes resources in common with others may in part reverse the throw-away trend of the last half century. 

Reframing our attitudes and ways of thinking about the binary impact globalization and automation is having on our economy, careers, and ways of life may be the best approach we can profitably take away from this economic conversion. 

Finally! Get Prepared to Be Hired!

This has certainly been a long time in coming. The hiring picture is the brightest it has been since the economy was in danger of “melting down” in the late 2000s. A strong pattern has developed showing robust monthly hiring numbers. Employment has increased by an average of 336,000 jobs per month over the past three months. The national unemployment rate is 5.7%, down from a recession high of 10.0% in October 2009. In New Hampshire, the unemployment rate stands at 4.0% — the lowest rate in New England. Could things be better? Sure. But given what we have collectively gone through, this is news to celebrate. 

So, where is the hiring occurring? In looking at the most recent Bureau of Labor Statistics Current Employment Highlights report, gains are being found in retail trade, construction, healthcare, financial activities, manufacturing, professional/business services, and leisure/hospitality. Statewide, according to the New Hampshire Economic & Labor Information Bureau, the strongest hiring is in healthcare, wholesale/retail trade, utilities, transportation, construction, hospitality, manufacturing, and professional/business services. The Society for Human Resource Management sees strong job growth in healthcare and technology. In other words, unless you are in the oil and gas industry, most sectors are looking great indeed. 

There are even signs of mass hiring being planned. Fire example, Home Depot announced on February 10 that they intend to hire 80,000 additional workers for the Spring season. 

However, those of us involved in job transitions need to be aware that the road to the next great gig is not paved with yellow bricks. The conditions of competitiveness that applied during the tooth and nail employment scramble of recent years are still to be put into use today when presenting yourself to potential employers. 

Business leaders will continue to be cautious and strategic about whom they hire. It should be accepted that these executives are clear on how they have or want to achieve and maintain success in the marketplace and that they will want only new hires who fit their profitable paradigm. Therefore, let us view this new boost of hiring from the perspective of the key decision makers as we prepare to introduce ourselves for their consideration. 

I recommend assuming the following: 

Just like any of us who shop for quality we tend to return to those sources that have consistently provided value in the past and that have earned for us a reputation for reliability. Employers are no different. So, think, from where might you be reliably sourced? Perhaps it is your current or former employer, your alma mater, someone “in-house” where you would like to work and who is in your professional network, or possibly a retained or contingency recruiting firm with which you have worked in the past. Aligning yourself with and promoting yourself from an identifiable source is tactically sound. 

A smart employer who does not want to burn through several bad hires (and the expenses associated with them) will take the time to specify key selection criteria for positions to be filled. The more detailed and definitive the job search candidate is about what comprises the value proposition contained in their marketing collateral, i.e., their resume and LinkedIn profile, the more likely a solid match can be established between the position and the candidate. This can save both parties from wasting time on lack of fit. 

Those companies and organizations with a grapevine stature of fair, honest, and dependable lines of communication among all employees, customers, and other stakeholders are also more likely to keep candidates informed throughout the hiring process, compared to those obnoxious firms that never seem to let a post-interviewee know what their status is. (Let’s face it, these outfits that have positions to fill, request applications, conduct interviews, and then leave those who followed the process in limbo should be called out on it.) Assume that if a business has a good reputation for communication, then at least you will know where you stand if you apply for a job with them. 

Times are as good for the job searcher as they have been in a long time. If you have been holding your nose in a less than satisfying job for years, the time has come to take a serious look at transitioning. Just know that planning and implementing a wise approach to this all-important change with an eye to employers’ hiring methodologies is the way to go. 

Keeping Your Workforce Productive and Happy

When assessing the state of our careers we quickly turn to determining how satisfying our workplaces are. After all it is hard to feel our careers are on track if the place where we work is lacking in some fundamental ways. Since each of us is ultimately responsible for growing our individual careers as optimally as possible we rightly feel justified in influencing our workplace environment to be the best it can be. 

Also, business owners and organizational executive directors naturally care a lot about the productivity of their respective workforce. It is certainly no secret that a happy workforce is a productive workforce. Therefore, it is in the direct interests of bosses to facilitate their workplaces to be environments that increase satisfaction, and by extension, production. 

The question then naturally arises as to what are the steps that need to be taken to create and sustain a positive workplace? Ideas can be derived from a variety of spots, including in-depth research done by organizations such as the Society for Human Resource Management, but other sources of opinions and suggestions can come from surveys, blogs, and LinkedIn threaded discussions that give a more candid and authentic perspective into the issue. 

My eavesdropping of the chatter reveals several consistent themes centered on values such as respect, flexibility, equity, stability, fairness, and jocularity. When we listen to the concerns about women in the workplace, for example, we find that work-life balance competes strongly with income. Accenture, the management consulting firm, concludes that women prefer work-life balance first, money second, and recognition third. Given that women make up 47% of the national workforce, their opinion matters a lot. 

Google still holds a reputation as one of the best places in the world to work. It topped a recent survey of 6200 companies conducted by Great Place to Work, a global consulting firm. So, what is it about this place? Yes, we know about the perks such as massages, horseshoe pits, and slides that take you from one floor down to another, but is that all there is? 

Well, it certainly helps that every employee is a stockholder, and a share is worth north of $500, but there is also a community culture that encourages giving, growing, and being bold along with supports for creativity and risk taking not apparent in many other places. Google management has made a science of calibrating the right mix of benefits and cultural values resulting in high retention rates and maximum productivity. 

But it is expensive to offer Google-esque perks to employees. For most companies and organizations, it may be worth noting the coming changes to the workforce, so that benefit and culture changes can be considered knowledgeably and possibly implemented without breaking the bank. For example, the definition of workplace stability may be undergoing a change whereby more workers may be thinking of freelancing, temp working, and short-term contract working as the new stability. Flexibility becomes key. 

Another workplace condition to prepare for will be the increasing number of older workers who cannot or do not want to stop working. What might this cohort want? We can start with respect for their historic knowledge and proven dedication to employers along with wellness programs, good lighting, and diminished information overload. 

Another key morale enhancer may involve candid discussions of how technology is used. It is great when tech increases productivity instead of being a distraction or job killer. However, many employees will become increasingly distrustful of how management leverages technology given its workplace disruption potential, so bringing employees into conversations about the role of technology could show worker respect. 

Yet, the most apparent ideas to foster great workplaces are quite old-school and effective. Most of us simply want to trust the people we work for, have pride in and recognition for our accomplishments, and enjoy the people we work with. Is that too much to ask? 

New Hampshire’s Career Outlook

In reading about the current and projected employment picture for New Hampshire we can draw some conclusions about which careers are likely to thrive going forward. Such information can be particularly useful for workers and residents who have decided New Hampshire offers a desirable lifestyle and who therefore intend to live and build their careers in the state for the long-term.

The local sources I like going to in order to find the information necessary for getting the state’s big employment picture include the New Hampshire Center for Public Policy Studies, including anything written by NH economist Dennis Delay; The Economic and Labor Market Information Bureau from NH Employment Security; and of course regular reading of the New Hampshire Business Review.

By looking at these resources over time impressions are formed about the direction our state is going with regards to employment and careers. This is very helpful when advising clients, students, and others about where their energy should be directed in making career choices, whether at the start of a career of during the evolution of an ongoing one.

A couple of points help frame my outlook about career decision making in New Hampshire. One is that we are not a poor state. In both Median Household Income and Per Capita Income we rank 6th in the country. Secondly, we are a graying state in that our demographic trend favors an aging population. In general many of our young people go elsewhere to build their careers and there is not a robust in-migration of youth coming here to live and work. My own adult children form a case in point. One lives and works in LA and the other is just outside of Boston. My takeaway? Jobs that serve an older and somewhat affluent population should be considered.

Another trend of note is how strongly linked New Hampshire’s economy is to Massachusetts. When our friends to the south do well, so do we. Fortunately, many of Massachusetts’ numbers are looking good. The bad news is that NH has lost its former status of being a place with lots of job growth. The Boston area is attracting population and jobs more than NH is.  It is not appearing as if we have the same level of economic prosperity relative to metro Boston, but some of their economy does spill into NH, at least as far north as Concord.

So with all that said where are the relatively bright industry sectors NH residents and workers can look to start and develop careers?

For reasons having to do perhaps with our state’s high percentage of college educated workers we see sectors such as business services offering opportunities. Professional services, for example consulting, accounting, architecture, engineering, company management, and staffing services are high paying jobs that have recovered beyond what we lost during the Recession.

Another sector showing an increase in jobs beyond those we lost during the economic downturn is leisure and hospitality. Tourism remains strong in NH, especially when the unpredictable weather cooperates. So food servers, hotel and inn staffing, and related jobs will be around for some time.

Health services would appear to be stable if not growing due in part to the aging population. Nursing, home health aides, dental hygienists, medical assistants, medical secretaries, and physical therapists are examples of positions likely to grow.

Computer system design and other IT and technical jobs have a bright outlook. Computer user support specialists, computer systems analysts, computer-controlled machine tool operators, IT administrators, and software developers are career areas with a future for now.

Also now with the foreclosure crisis having largely abated carpenters, plumbing, electricians, and other building trades, while not necessarily very strong, are seeing some resurgence.

Beware though of many manufacturing and government jobs, including in K–12 education. They are shrinking.

New Hampshire still offers a great environment in which to raise a family, enjoy nature, and build a career. And those factors looking forward are not going to change.

 

 

 

 

The Future of Careers

The official U.S. unemployment rate is down to 6.1% (in New Hampshire 4.4%). This is the lowest it has been since September 2008, the month we all realized the U.S. economy was in a tailspin. The raw number of employed workers has also recovered from the start of the recession. 

So why do we still feel in a funk about the employment recovery clearly underway? Perhaps it is because the recovery is taking so long. Or maybe it is due to the poisonous political relations turning into a national fratricide. It could also be the growing mainstream realization that capital has become densely concentrated among a relative few while the middle class feels its power and influence waning. 

I think all these developments play significant and disturbing roles in our continued malaise. However, there is another factor tugging at our collective insecurity. It is an insidious threat running just below the surface and not yet apparent to most, except for those who see their jobs and careers steadily dissolving. Call it automation, robotics, technology, or robo-sourcing. Whatever you call it, the reality of machines replacing people in the workplace is as historic as craftsmen and artisans being replaced by factory workers during the Industrial Revolution. 

I am not talking about just low-skilled jobs which do not require much education being erased. We all know that has been going on. The news is that computers are becoming better at replacing mid-level jobs and there is no end in sight to this trend. 

Here are some examples of a possible near-term future: Why hire a paralegal when computers can research and collate case histories and precedents? Let’s reduce family expenses by eliminating auto insurance, since our new car is autonomously operated. Who needs mid-managers when employees are now empowered by sophisticated software to give them direction? 

Examples such as these (and there are plenty more) of automation reaching into and killing traditional careers will become more numerous. No wonder we feel unsettled. Uncertainty for our jobs is the new certainty. 

Every great story involves individuals or groups trying to handle adversity with the goal of regaining equilibrium in their lives. Among the great stories of our age will be how working people adjust, manage, and flourish given the challenge of ubiquitous career disruption. This will not be easy. There will be a lot of anguish, questioning, indecision, and yes successes as we share in the development of a new economy characterized by new rules and choices. 

How we as individuals adapt to a world in which technology handles all the work tasks comprised of rote, logical, ordered, and sequential attributes will be centered around one fundamental question —What can people do that computers cannot do? 

In answer to this question there appear to be at least two areas in which people are superior to machines. One, people can be creative, innovative, and novel. We have viewpoints and experience leading us to devise new and exciting ways of doing things. We can make decisions and present new perspectives as opposed to merely accomplishing tasks and computations. 

Secondly, Hollywood movies about falling in love with operating systems aside, people can relate emotionally with other people. We can touch feelings, inspire and comfort others, understand, bless, and believe in other people. To date no automaton can do that. 

Careers subsisting on creativity and human contact will survive and thrive. They are already the basis of many careers currently and jobs requiring facility in these areas will likely expand. We will have our machines, but above all we will still need and have each other. Maybe even the Creative Arts could experience a boom the likes of which we have not yet seen. Time will tell. 

So yes, we feel that despite the hopeful employment numbers we are not very hopeful. Since we are not going to return to the past let’s start looking forward to and planning for a future that will certainly be different, but not necessarily bleak. 

Mid-Career Considerations

So, you’ve reached mid-career. How can you tell? I would say there are three signs: Your age is north of 40 but is less than 55; you have developed a substantial skill set in a particular field of expertise; and you have established a solid and growing base of enduring professional relationships. So now what? Engage in complacency? Cruise to retirement? Be satisfied with inertia? 

Mid-career is actually a very good time to appraise where you have gotten to with your career and where you see yourself headed next. Most long journeys require a time or two to pause and reflect on how you are navigating things and calibrate as needed. Given that many careers are now approaching 40 years in length it certainly qualifies as an odyssey in need of careful attention. 

Since we live in a time when there is always some new trend, phenomenon, practice, or competition coming down the pike we cannot risk becoming too smug with our career status or else we risk becoming outdated, irrelevant, and unemployed. It is probably best to have an advancement, expansion, or improvement plan of some sort. By this I mean a strategy designed to differentiate yourself from others in your field to leave you positioned for realizing outcomes of your own choosing. 

Mid-career is a great time to set meaningful and achievable goals for yourself. Ambitions that take you in the direction of stimulating engrossment, a sense of purpose, continuous professional mastery, and durable autonomy. Your career objectives should move in the direction of capitalizing on your strengths and interests while accommodating your weaknesses. And they should have long-term prospects. If your career is headed for obsolescence, now is the time to plan for a more enduring future. 

In general, you do not need to re-invent yourself or propel yourself on a course in which there is a lot of daylight between what you want to do and what you have done. Usually, the task before most mid-level careerists is simply to get especially good at what you do. Strive toward becoming a genuinely great mechanic or insurance executive or golf course superintendent. Be clear what passes for success and value in your industry and align your efforts and abilities with those indicators. 

For those areas where you do not excel, find and utilize the people and resources that can help you compensate or counterbalance so that you are still coming out ahead. 

It is worth evaluating how you are doing in the soft skills department as well when pondering your career at the mid-way point. You know what I mean by soft skills, that constellation of personal attributes like communication, social habits, friendliness, attitude, and so forth, which most people will remember you by. If pervasive anxiety makes you grouchy at work, or you wear your stress on your sleeve too often, or you are consistently misunderstood by co-workers, then work on remedying these inhibitors. Career progress is measured by hard and soft skills alike. 

Among the relevant factors to accompanying your career refinement strategy is looking at how well you are taking care of yourself physically and mentally. Sound fitness, diet, sleep, and mindfulness practice can keep you energized for the career work ahead.   

Since there really is not that much difference between work and life, maintaining health allows you to approach everything you do with vitality, confidence, and positivism. With these traits it becomes easier to learn new things, interact with other healthy people, and grow professionally. 

Mid-career is a great time to take stock, plan for the times ahead, and make the moves that matter for your career. You make plans for most other things. Here is a plan worth making for yourself. 

Seven Must-Have Transferable Skills

As career adjustments and job switching pick up pace, resulting from a somewhat improved employment picture and with the trending migration from long-term employment with one employer to a more free-lanced economy, the need for establishing and cultivating transferable skills becomes more important. 

Transferable skills are those capabilities one develops in one employment context that has currency in another. For example, a teacher may find that her or his skill in curriculum instructional delivery translates well to a training & development position in business or that a police officer’s ability to confront behavioral conflict situations with the public translates well to managing order and productivity among a large retail workforce. 

Transferable skills are most often not specific and discreet competencies, such as being able to make a metal forming roll in a tool and die shop, but rather more general qualifications that lend themselves to a variety of expressions. Convertible skills describe proficiencies that have value across a diverse set of employment situations and for this reason are skills the aspiring employee should know about and develop. 

Here is my list of seven transferable skills each worker with a proclivity for a lattice rather than a linear career should work to expand and refine to increase their chances of customizing their career the way they want. 

  1. Making Quality Decisions — Knowing how to make high impact and consistent decisions that take into proper perspective and consideration relevant information and that balances risk appropriately is a strong skill appreciated almost anywhere. Decision theory is like game theory, involving a durable ability to rationally reach an optimal outcome. If you are making decisions based mostly on fear and inertia, then you have something to work on.
  2. Solving Problems — Name me a business or organization that does not have a significant need for someone who can find resolutions to perplexing problems both big and small. Refining a problem-solving approach that is orderly and technique-based with a track record of success is best. Being able to cite examples of accomplishments as performance evidence of your steady problem-solving methodology is even better.
  3. Persuasion and Negotiation — What is the thing most workers hate about their boss or irritating co-workers? It is when they bully and intimidate to get their way rather than engaging in a thoughtful and genuinely persuasive argument. And yes, although it does not appear to be practiced by members of Congress anymore, reaching compromise through good-faith negotiations usually yields outcomes that satisfy the greatest number of stakeholders.
  4. Analysis — Being able to examine a task, phenomenon, procedure, or problem can go a long way to interpret the meaning of data or to determine the best course of action. By reducing complexity to constituent parts, a better understanding and new prospects can result. This can be useful when trying to assess and grasp the strengths, weaknesses, opportunities, and threats of a venture, business, or mission.
  5. Synthesis — Conversely showing the skill of combining, mixing, and merging ideas or materials into new and novel concepts and products is the basis of innovation and creativity. Sometimes perspectives need to be reframed so that new and different viewpoints can emerge, from which a competitive edge can arise. Freeing up and training the mind to develop unusual, but valuable means of expression allows organizations to provide improved ways of doing things.
  6. Collaboration — Working in concert with colleagues and stakeholders increases productivity, more efficiently achieves quality outcomes, and effectively reaches shared goals. The process of sharing knowledge and reaching consensus is essential at a time when the means of production grow ever more complex. Let’s face it, having a workplace where people get along and work together is energizing and spiritually uplifting, dare I say even fun.
  7. Networking with Talent – Ambitious and competitive employers know that having talent in their organizations is a good thing. Now, if that talent frequently interacts and learns from other gifted individuals then there is a value-add. When you fertilize your career with esteemed people who you respect and who respect you there comes an increase for the mastery of your career and perhaps even the bottom line for your employer.

Is the Resume Being Replaced by the LinkedIn Profile?

It is no secret in the career and employment fields that LinkedIn, the professional online networking social media site, has become a huge game-changer over the past ten years. What used to be thought of in the early days of the mid-2000s as the professionals’ version of Facebook, LinkedIn now sports close to 300 million users worldwide and has become the expected place for all professionals to display their work experience, qualifications, and credentials. 

When job hunting it has become typical to send recruiters, hiring managers, and networked contacts a link to your LinkedIn profile, which is great as a professional landing page.  This page not only presents your skillset, value proposition, and work history, but also your collection of peer and client recommendations — valuable stuff when self-promoting. Incidentally, LinkedIn can be your ongoing source of professional networking and development via the high quality interchanges going on in the Groups feature. 

Given that LinkedIn is a must-use site for recruiters sourcing talent for positions they are trying to fill, to not be present on it is akin to a self-imposed exile in a jobseekers’ no-man’s land. 

If LinkedIn has become so standard and dominant, then a reasonable question to ask is, has LinkedIn eclipsed the resume as the foundational piece of collateral all professionals need?  Well, it certainly may come to that in the not too far distant future, but in my judgment, it is premature to call the resume deceased. And here is why: 

We are used to resumes and so they persist. For as rapid as change appears to be in our world, including in the career development space, many things evolve quite slowly. People are not always so fast at ditching a tried-and-true practice or method just to latch onto the latest thing. 

Adoption rates of new ways of behaving can often be quite slow. Why, for example, are we all not webcamming now when speaking live to friends, family, and clients? The technology is here. But most of us still use the telephone for most of our synchronous communication. 

Sure, LinkedIn is great, but it does have formatting limitations. The user is confined to a strict structure that can at times be frustrating to customize. Even though the resume has a lot of conventions that should be adhered to, it does nevertheless offer more presentation flexibility. An educator’s resume will typically be structured differently from an IT pro’s resume, but on LinkedIn the content sections are locked in place no matter who you are or what you do. 

A huge and growing practice by business regarding the processing of resumes involves the use of applicant tracking systems (ATS), the scanning software that determines if resumes are to be categorized for further consideration or rejected, due to how well they are or are not a fit for an open position. 

Resumes must be written and submitted with this automation in mind. And since resumes must be keyword-tweaked for different positions to increase chances of being blessed by an ATS, that potentially means frequent customization. You can only have one LinkedIn profile at a time, whereas you can have multiple resume versions simultaneously. 

The truth is, if you want to be searchable by talent seekers and have the requisite complement of professional pieces to show you are serious about employment availability and advancement, you need to utilize both platforms. It is not that one is more important than the other, but rather they have both become very important. 

If you go through a process of preparing a great resume, then it’s not a heavy lift to also rephrase that content in producing a great LinkedIn profile. Your career can be rewarded for covering all the bases.