There are push and pull factors. Pull factors are magnets, things that would attract you out of what you are doing today to pursue a really great opportunity. Push factors are the things that are nudging at you on a day-to-day basis-frustration with your boss, you don't see promotion opportunities; you're traveling five days a week. If there are enough push factors, I think it's time to at least evaluate your options.
Is long-term loyalty to a company still rewarded?
Careers today tend to be mobile. Ten years ago, companies that were hiring were leery of the executive who had made several moves. Now, 10 years later, we have the opposite. We're leery of individuals who have never made a move, because we wonder if perhaps no one saw them as excellent candidates. Plus, they have less variety of experience. Many companies today are looking for hybrids. They want the person who perhaps spent the early years of his or her career with a much respected, well-managed company such as a GE, a Xerox, or an IBM of the old days. But if that person has never had a more hands-on, entrepreneurial, leaner-resources type of experience, that person is not viewed as attractive a candidate as the person who has been with three or four different companies and has gleaned the best practices from each of them.
Are companies lying off their long-term, highly paid, older employees and hiring younger, lower-paid employees?
No, companies today are looking for more experience, and at the higher levels the more senior candidates may actually have an advantage. They may cost a little more, but I think as companies are realizing that they have to do more with less, they may feel the person who has 20 to 25 years of experience can actually bring more to the organization than the person who's only got 10 years. But, again, we're talking about the senior positions. Middle management is the endangered species.
If you feel like you are an endangered species in your company, how can you make yourself indispensable?
Get some additional skills, experience, or exposure. Perhaps you've only been in one product area; maybe you could move into another operating division of your company. International experience is crucial today. Do whatever it takes to gain some responsibility for a global market. And, in spite of everything that's been written lately about the MBA, it is still, in the business world, a valuable degree.
Say you're a 50 year-old, fairly highly placed executive, your company downsizes or is acquired, and all of a sudden you are out of a job. What are the first steps you should take?
The first step is to make sure you are offered outplacement. It's a big mistake to take additional salary or severance in lieu of outplacement. Finding a job will be a full-time job. There are books on the market, but it's not something you want to tackle on your own. If you haven't mailed out at least 500 resumes, you are not doing a thorough job search. It's a direct-mail campaign; you have to cast as wide a net as possible. And don't forget networking. Pull all the cards from your Rolodex that you've collected over the past few years and let those people know you're available. Also, think about the leaders in your field who might recommend you for a position when a recruiter calls them. Let them know you're actively looking for a job.
Do you subscribe to the latest theory espousing long, detailed resumes?
I prefer someone else on the side of length and detail. I certainly don't want the 25-page CV, but a one-page resume doesn't tell me much other than title, company, and date. Three to four pages work best, using chronological order with specific accomplishments and responsibilities, to whom you reported, and your staff size. If you're one of the Fortune 500 companies, then I know something about your business and industry. But if you work for some start-up or some very small privately held company, explain what your company does.
What can a recruiter do for me that I can't do for myself?
We can help you assess opportunities in a more objective manner. If you are employed, when something comes to your attention, you have to decide whether you are interested or not. If you're interested, you pursue it; if you're not, then you wait for the next opportunity to present itself. A recruiter can help you with your long-term career goals.
A recruiter also offers you confidentiality. Often it's important that you are not directly approached by a company because your first reaction, in order to protect your current situation, is to say, "Thank you, I'm not interested. I'm happy where I am." But if recruiters call you, you'll probably be more comfort-able talking to them because you know they are not going to share your back-ground with their clients or with other companies without your knowledge and permission. And they will also put you in the database for future reference. You may have a lot of contacts, but you can't possibly know every opportunity that's out there. We may call you back six or 12 months later with something that really is a good fit for you that you never would have been able to find without the help of a recruiter. And then finally, if you do go through the assessment process, are on the candidate slate, and ultimately receive the offer, the recruiter will, in effect, act as your agent. It's a lot easier to negotiate a compensation package if there's a go-between.
