In this issue...

• Investing in Your Career

• Career Strategy: It Pays to Diversify

Dan & Don

Would you dump your entire life savings—every single dollar—into a single stock?  Probably not; it’s far too risky to put all your eggs in one investment basket.  If you’re unsure of your answer, think ENRON.  Okay, now that we have that settled…

And yet, you’d be surprised how many people manage their careers with a single-stock mindset.  They toil away, year after year, investing their talents in a narrow field of interest.

Until recently, this approach made a lot of sense.  Conventional wisdom dictates that if you do one thing really well, you’ll never be out of a job.

But times have changed and so have strategies.  While it’s still true that a solid career is built on a foundation of position-specific expertise, it’s become increasingly important to maintain a balanced portfolio.

When employers look for talent, they typically settle for people with the proficiency to perform certain tasks.  But what they really want—especially in today’s hyper-competitive market—is an adaptable breed of cat, whose broad-based set of skills crosses over into a variety of disciplines.

Want proof?  Poke your head into any meeting room in which star performers are present.  You’re likely to hear a sales manager exploring the potential of XML technology, or an engineer debating the virtues of a strategic alliance, or a CFO pondering the benefits of a co-branding opportunity.

In other words, as organizations flatten, more is expected from each individual contributor.  This means that versatility is not only fashionable, it’s become a key ingredient in modern-day career progression.

Now, I’m not suggesting that you spread yourself so thin as to master nothing at all.  But in order to reach top-percentile status in today’s rugged job market, you’ll need an expanded arsenal of skills to deploy.

To round out your resume, look for areas of weakness (or “blind spots”), and try to develop them into strengths.  By gaining knowledge in areas that were formerly considered the domain of “somebody else,” you’ll increase your overall market value.  The more you can offer a multiple spectrum of knowledge—rather than a single color of skill—the less likely you’ll be to paint yourself into a corner.

For more information about this topic, please contact me at dan@consearch.com.

You’ve just finished your interview with a new company, and all went well.  Not only do you have great interest in the opportunity that’s available, but you sense that they have interest in you, too.  Although it’s easy to get too excited by the possibilities, now is the time to keep a level head so that you’ll be able to make the best final decision you can.

And speaking of decisions, you have a couple to make at this point.  The first is whether or not the position is the right one for you.  The second is what kind of offer you’d be willing to accept.  Neither of these are small decisions.  A lot of thought needs to be put into them before they’re made.  To help in the decision-making process, below are different aspects that you should consider.

• Starting salary, benefits, and perks—If you’re close to the offer stage, you’ve probably already discussed these in some detail with a company official, as well as your potential opportunities for future compensation.  Ask yourself how much of a motivator salary is in this process.  It’s important to determine what the minimum salary is that you will accept and then stick to that figure when the offer is extended.

• Position title—Does your new title denote a step up the career ladder, or could it be construed as a lateral move?  And how important is position title in relation to the other things on this list?

• Decision-making autonomy—This encompasses your freedom to implement ideas and affect change.  How much authority and responsibility are you given to complete projects and tasks on time?

• Challenge of tasks—In order to be satisfied with their position, many workers need to feel as though they are being adequately challenged.  What promise does the new opportunity hold in that area?

• Access to professional development—Will you have the opportunity to gain new knowledge and experience?  Will ongoing training be part of your job description?

• Company/industry growth—How stable is the company?  What kind of potential does it have for growth in the industry?  Do your homework before you commit to making a final decision.

• Promotion potential—What kind of potential exists for upward mobility?  Are you being groomed for a bigger and better position, and how long would it take to get there if you worked at your maximum level of effectiveness and efficiency?

• Commuting distance—Studies show that more and more people are commuting longer distances for work purposes.  If the new position requires a longer commute, that should definitely factor into your decision.  (Especially with the fluctuating price of gasoline.)

• Work environment—This involves the physical environment, where you’ll actually be working.  Is it an office?  Will you be traveling a lot?  Your preference regarding this aspect of the position could be very important in your decision.

• Rapport with co-workers and management—Chemistry is extremely crucial to achieving satisfaction in the workplace.  (This may be one of the main reasons you’re looking for a new opportunity in the first place.)

• Comfort with the corporate culture—The size of the company has a lot to do with corporate culture.  Is the company you’re interviewing with a lot larger than your current company?  Are you interested in working for a much larger company?

Evaluating a job offer is an important task, one that requires careful consideration.  By using each of the points above to compare and contrast your current position with the one that’s available, you’ll be able to more accurately ascertain your future path. 

If you have any questions about this topic, don’t hesitate to contact me at brg@charterinternet.com.