Showing posts with label Careers. Show all posts
Showing posts with label Careers. Show all posts

Tuesday, January 22, 2008

Reinvent and become the new You

“Who would you be, if you were to reinvent yourself”


Which of us hasn't wondered what might have been if only we'd turned down that easy graduate job offer and followed a more creative path instead? It's never too late to reinvent yourself.

Who doesn't sometimes sit - in cubicle or corner office - wondering how rosy life would be if they had pursued their original goal of being a writer, a musician or a racing driver? A career move not taken, a talent wasted or a risk avoided is a mid-life crisis waiting to happen. We hear Decombe's words in Henry James's short story, The Middle Years: 'A second chance - that's the delusion. There never was to be but one.'
But according to the biggest-ever research project looking into our middle years at the John D and Catherine T MacArthur Foundation in Chicago, what we believe and what is actually happening are worlds apart. Joint research editor Ron Kessler, professor of healthcare policy at Harvard, found anything but 'crisis' at the age of 50. In fact, he calls the mid-life years (aged 30 to 70) a time of 'middle calm'.

It's not that career decisions weren't questioned, he says, but that maturity prevailed and allowed us to reframe our original goals. 'We found that mid-lifers who give up the impossible dream often feel a sense of relief,' he adds. He also found, contrary to popular belief, that the lowest rate of depression occurs in mid-life. 'For mid-life mental illness, the graph looks like a smiley face,' he says.

A key finding of the research is that mid-lifers, feeling the effects of long-term prosperity and continuing good health, no longer see the middle years as the beginning of the end. Indeed, this is when they are most likely to shift their goals - women in particular. What psychologists like Brendan Burchell at the University of Cambridge noted is that the dreams and interests put aside in youth - the hiking boots, the piano and the design books - are retrieved in this period. Female entrepreneurs have jumped on the boom in mid-life interest to start companies aimed at their peers.

One successful example is Curves International, a woman-only gym franchise based in Texas but now operating all over the world. Aimed at over-35s, Curves has become the fastest-growing franchise in history, with 95% of the owners being women. There are now even 'adventure coaches' who specialise in taking middle-aged women on middle-earth adven tures. This period - even if it involves divorce and redund- ancy - is not so much a time of crisis as a time of challenge.

Men are less likely to take up yoga or Buddhism but are just as likely to re-evaluate their original goals. Economists call this trend 'voluntary downshifting', but for many it means moving from an established career, such as banking, law or IT, to a more meaningful or creative job in the arts or education. Says Burchell: 'A common change is from high-paid, low-satisfaction jobs to ones with more meaning or intrinsic satisfaction - for instance, from IT worker to teacher.'

Orville Brim, director of the Florida-based MacArthur Foundation Research Network on Successful Midlife Development, noted that what mid-lifers seek most is to 'live a life of manageable difficulty'. The consensus is that 12-hour days are no longer desirable. 'It slowly dawns on us that we'll never write that rock-opera sequel to Tommy, or maybe be a father,' Brim said in an interview. 'Our big boyhood dreams have been precious, and it's easy to feel like a failure once it's clear they're dead.' At this point, one can either fall into despair or come up with a new angle.

In 'life' transitions, stage one is about loss - of a job, status or youth, or a relationship - attended by feelings of shock and surrender. Then comes a letting go of the trappings of success, the title or the company car - involving anxiety, guilt and self-doubt. Finally, a clear direction occurs. This 'resolution and integration' is followed by enjoyment and even gratitude.

According to Win Sheffield, a former banker turned career coach in New York, each phase must be endured, though some get through it faster than others. A typical career transition is from the financial sector onwards. 'Often, the first job people are offered after university is in the financial sector,' he explains. 'Many people who call themselves recovering lawyers feel they went into this career because it was there, on offer.' At a certain point, they decide they want something different and this is where Sheffield comes in handy, helping prepare them for job interviews by teaching them how to use the skills learned in their previous job.

The natural fear of failure subsides when the client explores the basis on which they formed their self-esteem. 'I say: "Let's talk about your successes in the past", and I ask for specifics, like a deal that went particularly well. Sometimes people step away and think: "Wow, I was really patient and shrewd about the monetary aspects of the business." It doesn't matter whether it was 10 years ago or not,' he adds. 'If you were once an organiser, you will always be a competent organiser.'

After exploration, comes the setting of the goal and finally the job search. In many cases, Harvard's Kessler finds, the fear of change is far greater than the actual transition. This is because three of the greatest benefits of mid-life are experience, confidence and a willingness to break from the pack. This time is no longer about disappearing into the void.

Mid-lifers who feel life is meaningless, says Kessler, are those whose expectations were out of sync with reality. Far from being about doom and gloom, these years are about 'doing what I want to do'. He adds: 'A woman might become a new mother at mid-life or she may start a new career. Life patterns are much more diversified today.'

Elliott Jacques, the Canadian psychoanalyst who coined the expression 'mid-life crisis', described that phase as 'when people find themselves beset with misgivings, agonising enquiries and loss of zest'. The reality is vastly different today. Motorcycle sales are up 34% in the US among mid-lifers.

In the past, argues Mark Gerzon, author of Coming Into our Own, the only alternative was to be stuck in a rut or to have a mid-life crisis. Today, it's about recovery, or what he calls 'mid-life healing'.

RICHARD ATHERTON - From management consultancy to comedy...

Atherton, 30, worked as a management consultant for Arthur Andersen, then at Deloitte, for nearly seven years. 'It was what you did straight from university,' he says. He began receiving bonuses and was well thought of, yet he often felt himself to be an impostor.

On a business trip to Edinburgh, he would sneak off to comedy shows until the early hours, only to face a 9am meeting the next day. One day, his boss said: 'If you want to become a senior manager, you will have to make a decision to commit or to leave.'

Atherton took this as a signal that it was time to change. He rented out his flat and split up with his girlfriend, who had, he says, 'started dating a successful management consultant and ended up dating a penniless comedian/promoter'. He'd produced comedy shows at university but never committed to it properly. He eventually hooked up with Melanie Dias to start Bonobo Presents, now a critically acclaimed variety club that once a month showcases the country's best comedians alongside magicians, poets and dancers, at the Grill Room in London's Cafe Royal.

He is not earning anything like his former salary, but he's thankful for the business experience. 'My previous career taught me how to communicate and work with teams. Being up there in front of the board gives you courage to take on people and situations. And I have a lot of rich friends coming to my show.'

He admits that he worried about failure, but after spending months reading self-help books (Anyone Can Do It, by Sahar and Bobby Hashemi was his favourite), he found the motivation to think positively. 'They all say you have to set goals and burn bridges. I now aim to be a highly successful entertainer and producer. However, I consider it almost a handicap to have had a well-paid career first, because there's always a temptation to retreat to the safety blanket of your former life.'

The most valuable lesson he learned was: 'Don't try and get it all worked out before you leave the day job. Just take that first step.'

NIA MORRIS - From lawyer to interior designer...

Morris left Oxford in 1981 with a PPE degree and moved to merchant bank HSBC. After a year, she decided that banking was not for her, and enrolled at law school. 'I guess I thought law would be more intellectual than banking.'

She started her legal career at Linklaters, working in the banking and structured-finance division, and became a partner in 1992. In 1995, she left to join a large US firm, Weil Gotshal & Manges. By then she was married and had two children. When the third arrived and began suffering health difficulties, Morris resigned from her job. She spent six years at home and assumed that she would return to the law when her daughter recuperated. 'I was 35 and had invested 15 to 20 years in law. Technically, I was still on maternity leave.'

Morris went back to work as a strategist at New York law firm Cadwalader, but left after six months. 'I didn't want to be in this environment any more,' she says. 'I thought I should be able to come up with a better idea than this.' After exploring several routes, including arts management, Morris enrolled at KLC School of Design in Chelsea. Before the end of the course, she'd landed her first job.

She founded Studio OHM, a high-end residential interior-design business, with partners Louise Holt (a former banker) and Emma Oldham (who previously ran a design business, Space Boudoir). The transition was smooth. 'Being a lawyer has helped me enormously,' she says. 'Actually, the jobs are quite similar. It's a client-based service job; it's about managing projects and managing relationships. The only difference now is that the subject is more creative.'

In hindsight, she would have embarked on a creative path earlier. 'My advice to students would be to do what you love, not what necessarily pays better. The problem is that there are no opportunities presented to you on a plate in the arts. But I don't think there are jobs for life any more. Law firms no longer offer tenure and this has been quite liberating. It gives you a reason to try something else.'

PHILIP NIXON - From brokering to Chelsea Flower Show gold medallist...

Nixon, 43, graduated from Newcastle University and went to a work for a large oil company before moving into bond sales at various banks. But after 12 years he decided it wasn't for him. 'I had originally wanted to be an architect, but I could see no future. It was the booming '80s and it seemed that if you didn't get in now, it would be gone.'

He would have stayed longer at UBS if his team had not been poached by a Japanese bank, which left him with a sizeable chunk of money. The markets had changed and, in his own words, 'it was smarter to stop trading'.

He volunteered to work at the Chelsea Physic Garden in his free time and soon found his former interests rekindled. 'It reminded me of my original interests in architecture and design.' He enrolled at the Inchbald School of Design in 2003 to do a masters in landscape and garden design, but not without doing the footwork. 'I did a lot of research first by speaking to as many people in the business as I could, and second, reading profiles of major designers. I didn't go into it blind. I saw there were opportunities to be taken.'

He entered the RHS Chelsea Flower Show in 2004; by 2005 he had the first of two Chelsea Gold medals, and last year won a Silver Gilt. He now runs a four-strong practice, with jobs spread out from London, Moscow, Geneva and Sweden.

He considers his previous employment essential. 'It helped me hugely. One, it gave me a level of maturity; and second, it gave me the ability to deal with demanding clients. There is an element of unprofessionalism to this business and many think it's only about gardening and not running a business. For this reason, I think clients take me more seriously.'

In retrospect, he would encourage people to take a creative leap. What stops them is often a lack of imagination or unrealistic expectations as to earnings. He has financially caught up with his previous income (in the '90s), though, he says, one should expect a cut in salary, at least initially.

Source: Management Today

Read More......

Sunday, January 13, 2008

Women still face Glass Ceiling

“Barclays Bank appoints 5 women among 80 managing directors”



Barclays Capital, the investment banking division of Barclays, has been forced to defend its record as an equal opportunities employer after it emerged that it had promoted 80 managing directors, of which only five are women. BarCap, employs about 15,700 staff across offices in 26 countries, took out a full-page advertisement in the Financial Times 10 Jan, to announce the promotions, covering public relations executives as well as bankers in locations from London and New York to Madrid and Singapore.

The investment banking unit, led by Bob Diamond, specialises in the corporate credit markets and has been one of the fastest-growing City employers. It accounts for more than a third of Barclays’ annual profits, which last year topped £7 billion, and employs a little under half the group’s 33,000 staff.

Two of the new female BarCap MDs are in London. The other three are based in New York, Jakarta and Singapore.

Employment commentators said that the promotions underscored the perception of the City remaining a male-dominated environment. Nevertheless, they were loath to judge BarCap, pointing out that the decision about whether to pursue a banking career is also a lifestyle choice, tending to involve long hours and a gruelling travel schedule, albeit for considerable financial rewards. It emerged yesterday that, after meeting performance targets, Mr Diamond was on course to collect a £14.8 million payout covering the past three years. The payout means that Mr Diamond is likely to have received about £75 million in pay, cash bonuses and share awards since he joined the board in 2005.

Heather McGregor, a director of Taylor Bennett, the recruitment consultant, said: “Investment banks do struggle to find women for senior positions because very often women have other agendas and choose not to make their careers a priority.”

Of the 358 executive directors at FTSE 100 firms, only 14 — less than 4 per cent — are female, according to Manifest, the proxy shareholder voting specialist.

A spokeswoman for The Equalities and Human Rights Commission said that it was disappointed but not surprised by the lack of female appointees at BarCap: “It’s not a simple question of discrimination — it’s also about working practices.”

Siobhan Loftus, a media relations executive at Barclays Capital and one of the new managing directors, defended the promotions, which she said were based entirely on merit. “We are a meritocracy. In our diversity policy we would hope to promote irrespective of any gender bias,” she said.

“We would always look for the best person for the job. We want to provide an environment where people feel comfortable irrespective of their background, gender, sexuality or race.”

Food for Thought:

Economist "Women in Business" 2005 ...

It's 20 years since the term “glass ceiling” was coined by the Wall Street Journal to describe the apparent barriers that prevent women from reaching the top of the corporate hierarchy; and it is ten years since the American government's specially appointed Glass Ceiling Commission published its recommendations. In 1995 the commission said that the barrier was continuing “to deny untold numbers of qualified people the opportunity to compete for and hold executive level positions in the private sector.” It found that women had 45.7% of America's jobs and more than half of master's degrees being awarded. Yet 95% of senior managers were men, and female managers' earnings were on average a mere 68% of their male counterparts'.

Ten years on, women account for 46.5% of America's workforce and for less than 8% of its top managers, although at big Fortune 500 companies the figure is a bit higher. Female managers' earnings now average 72% of their male colleagues'. Booz Allen Hamilton, a consulting firm that monitors departing chief executives in America, found that 0.7% of them were women in 1998, and 0.7% of them were women in 2004. In between, the figure fluctuated. But the firm says that one thing is clear: the number is “very low and not getting higher”.

Source: Times Online

In August 2006 Forbes reported that 70% of women and 57% of men believe an invisible barrier -- a glass ceiling -- prevents women from getting ahead in business, according to a study of 1,200 executives in eight countries, including the U.S., Australia, Austria and the Philippines were the findings of a study conducted by
Accenture.

Women aren't as worried about the pay gap as they were five years ago, says Carol Gallagher, president of the Executive Women's Alliance and author of Going To The Top: A Road Map for Success from America's Leading Women Executives. Gallagher, who is also an executive coach, says Gen Xers and Yers don't think any barriers prevent them from getting to the top.

And baby boomers are now looking toward retirement, not obsessing about pay. When Gallagher published her book in 2000, there was a huge demand for information about the gender gap. At the time, almost all her executive coaching clients were women seeking the secrets of corporate success. Now 70% of her clients are men. "There [isn't] a need for as much of the women's group stuff," Gallagher says.

To some extent, there's a disconnect between American women and their counterparts abroad. In a study of American executives by Catalyst, a research and advocacy firm, women were just as likely as men to say they aspired to senior management positions. "Women want the responsibilities and rewards that come with top positions," says Sheila Wellington, a professor at New York University's Stern School of Business, who was president of Catalyst when the survey was conducted.

But a global study, also conducted by Catalyst, found that men worldwide desire the top jobs more often than women.

Even in the U.S., some experts say the glass ceiling doesn't affect job satisfaction. Women make sacrifices at work in exchange for greater happiness in their lives as a whole, says Warren Farrell, author of Why Men Earn More.

His book offers 25 reasons for the pay gap: Women work fewer hours, for example, and they don't stay at jobs as long as men do. Whether it's nature or socialization driving their decisions, women tend to choose lives that allow them to spend more time with their families, Farrell contends.

Even ambitious women don't measure success in high salaries and fancy job titles. Relationships with colleagues and giving back to the community are more important to women than salary, according to "The Hidden Brain Drain: Off-Ramps and On-Ramps in Women's Careers," a study by the Center for Work-Life Policy, which was published in the Harvard Business Review last year.

"They want to feel satisfied and good about their work, but also want to feel satisfied about other things in their life," says Melinda Wolfe, head of global leadership and diversity at Goldman Sachs Group (nyse: GS - news - people ).

Even if most women don't want to break the glass ceiling, Wolfe says, the few that do shouldn't be ignored. Sometimes their ambitions have been tempered by a corporate culture that stifles their success. Sometimes they choose circuitous career paths, taking some time to care for children, prepare for a career change or work in the nonprofit sector.

There's another reason why the pay gap has barely budged in the last five years: Women don't ask for more money. "They don't think they deserve it," says Lois Frankel, president of Corporate Coaching International and author of Nice Girls Don't Get the Corner Office. She adds, "We don't have the [negotiating] skills. We see it as something smarmy."

But Susan Solovic, CEO of SBTV, a Web site that creates video programming aimed at small-business owners, offers another reason why women aren't complaining about the pay gap: They've decided to work for themselves. The number of women-owned firms grew 17% between 1997 and 2004, according to the Center for Women's Business Research, while the total number of firms rose only 9%. Says Solovic: "There is really no glass ceiling when it comes to owning your own business."

Source: Forbes

Read More......

Monday, October 15, 2007

My Journey to the Top

“Eleven women with big dreams from many different backgrounds. The path to power meant facing obstacles and their biggest fears ...”


Women still have an uneasy relationship with power and the traits necessary to be a leader. There is this internalized fear that if we are really powerful, we are going to be considered ruthless or pushy or strident—all those epithets that strike right at our femininity. We are still working at trying to overcome the fear that power and womanliness are mutually exclusive. Aleksandr Solzhenitsyn says "If you want to change the world, who do you begin with, yourself or others?"
Full Article

Read More......

Wednesday, July 04, 2007

One in four plan work break

Independent Television News reports today that

“One in four people are planning to take a break from work in the next year, often to do charity work or achieve a lifetime goal”


A poll of 1,200 adults by Norwich Union suggests that almost one in five of those aiming to have a career break will not return to their job, creating a huge replacement bill for UK businesses. The trend looks set to send stress levels soaring in workplaces across the UK, with seven in ten of those polled admitting that simply covering colleagues' two-week holidays will leave them struggling to cope this summer, said the report.
Travel or spending more time with family remain popular reasons for career breaks, but over three quarters said more colleagues were taking time out to do charity or volunteer work.

Judith Brodie, director of international development charity VSO UK, said: 'At VSO we've seen a real change in attitude to sabbaticals over the years, and this is not something that's going to go away.

'As we move further away from the traditional idea of the linear career path there seems to be a growing acceptance that allowing your staff time to develop their skills and widen their experiences outside of the workplace is good for business.'

Read More......