Category: Your Business (Page 27 of 30)

Workers Stop Retiring, Gen Y Starts Worrying

Gen Y_I Need a Job

If you take a look at Census Bureau data on why any given industry may experience job growth over a period of 10 years, retirement is usually listed as one of the reasons why certain fields will have an impressive percentage of job openings for the decade. But according to a new analysis by a senior research associate at the Employee Benefit Research Institute, “the median length of time on the job rose markedly during the recession, as fearful workers—particularly baby boomers—clung to their existing positions and a few new employees were hired on.”

The analysis, by Craig Copeland, is based on the Census Bureau’s Current Population Survey, which asks Americans about their job tenure every two years.

As of January 2010, workers reported they had been on the job a median of 5.2 years, up from 4.9 years in 2006. In 2010, 29.8% of all workers said they had been on the job for 10 years or more, up from 26.7% in 2006.

Among men aged 60 to 64 still working full time, 56.8% had held their current job for 10 years or more, up from 48.1% in January 2006 and 52.4% in January 2008. Such numbers indicate that aging boomers understand that finding a new job is tough for older folks. Indeed, according to a new analysis by the AARP of Department of Labor Statistics’ average duration of unemployment for older laid-off job seekers rose to 44.9 weeks in October.

Even in 2008, “people were switching careers,’’ says Copeland. “We even had a program where we were looking at how large employers were trying to retain their employees. But once the recession hit, that wasn’t a problem. Workers weren’t retiring.”

Other scary news for older Gen Y’ers and graduating seniors is: baby boomers are not the only workers holding on to their jobs. All workers are holding on to their jobs to avoid competing with, well, college graduates, older Gen Y’ers, and the more than 4.2 million unemployed workers currently looking for jobs.

Although the recession is officially over, Copeland is quick to remind Americans that, “the unemployment rate has barely budged; it stood at 9.8% in November compared to 10% the year before.”

For more information about the job outlook for all careers for the 2008-2018 decade, visit the Bureau of Labor Statistics, Occupational Outlook Handbook at  http://www.bls.gov/oco/.

Are American Jobs Really Heading Home From Overseas?

shutterstock_Chinese Factory Small

This just might mean something for millions of unemployed manufacturing workers across America.

Dana Morey, executive vice-president of Morey Corp., remember well Chinese New Year two years ago, when they were calling all over Shenzhen, China, trying unsuccessfully to find someone who could pick up a load of finished parts from a factory during the two-week holiday and ship them to Chicago. Then it was holes not drilled deeply enough in a shipment of circuit boards from a Chinese supplier. Similar problems have occurred in metal and plastic castings.

Morey is part of the wave of “near-shoring” or “re-shoring” of production that gained momentum during the recession. Manufacturers are bringing work back to the U.S. because of the rising cost of shipping, labor and raw materials—coupled with quality problems and shortened lead times from customers unable to predict their own orders in a still-choppy economy.

“People are starting to see they went too far in outsourcing,” says Harry Moser, former chairman of Lincolnshire-based machine-tool maker AgieCharmilles LLC and a proponent of bringing manufacturing work back to the U.S.

The near-shoring trend is hard to quantify, however. A January study by Chicago-based accounting firm Grant Thornton LLP found that 20% of the 312 companies it surveyed had shifted from Asian suppliers last year to partners closer to home, mostly in the U.S. And 12% planned to do so this year.

While it’s not enough to reverse the 40-year shift in manufacturing from the U.S. to Asia, Mexico and Latin America, winning back some work that had gone overseas is helping manufacturers recover from the deep downturn that started three years ago.

Let’s see how many manufacturing companies follow suit in the coming year. So far, Caterpillar, Ford Motor, General Electric, and NCR have already moved operations and thousands of jobs back to the U.S.

Are you allowed to sleep on the job?

woman napping at work

It seems like a silly question, but you might be surprised by the answer.

Naturally, in many workplaces, sleeping on the job is a serious no-no. But, a growing number of companies are actually encouraging employees to nap at work. The issue is productivity. Rest is very important, and for many employees, a productivity nap can work wonders.

From Thomas Edison and Winston Churchill to Bill Clinton and George Costanza, the nap has had many famous champions. And with good reason. Ever since sleep scientist David Dinges helped found the modern science of napping in the early ’80s at the University of Pennsylvania School of Medicine, short periods of sleep have been shown to improve alertness, memory, motor skills, decision-making, and mood. All while cutting down on stress, carelessness, and even heart disease.

With Americans averaging fewer than seven hours of sleep per night—and around 20 percent suffering from sleepiness during the day, according to a recent Stanford University study—many companies have turned to the humble nap in an attempt to stave off billions in lost productivity each year. Following the rise of workplace perks like lactation rooms, gyms, and child-care facilities, Nike (NKE) workers now have access to nap-friendly “quiet rooms” that can also be used for meditation. Google (GOOG), a forerunner in employee perks, has a number of futuristic napping pods scattered throughout its Mountain View (Calif.) campus.

It’s even becoming a business in itself, as some establishments are offering napping spas that people can visit during the day. One company called MetroNaps offers a contraption called The EnergyPod, which we have to admit looks cool as hell! The key is to find a way to help employees get adequate sleep.

Check out the rest of the article for some napping tips as well. Yes – there are actually helpful tips on how to take a nap! Isn’t the Internet great?

Career Lessons from a Bevy of Late Bloomers

Late_Bloom

Whether the economy has forced you to flip flop between careers, or you wake up one morning to find yourself lagging at least a decade behind your peers, starting over in new career is never (ever) a negative thing. Famous late bloomers like The View co-host Joy Behar and the world’s top tenor Andrea Bocelli did not decide on a definite career until well after ages 40 for Joy and 30 for Bocelli. In fact, most late bloomers spend decades doing things they dislike before that inevitable Aha! moment.

What does all of this mean for the millions of men and women that are forced to make a career change each year? Well, what you decide to do after you’ve lost your bonus-laden banking job or that “newly created” position at a non-profit, just might be your true calling. So, how do you go about making a somewhat smooth transition? Do you quit your day job and dive right in? Do you wait for your pink slip and severance package before taking the plunge? Or, do you wait until you’ve called in sick one too many times to realize your career has run its course? This is a decision you have to make on your own, but in making it, you should consider everything from how you truly feel to what your finances can accommodate—within reason.  In the meantime, here’s how the famous and not so famous did it, so take notes.

Joy Behar, 68, from teacher to comedian to talk show host.

TV Behar HLN Show

Joy Behar was a high school English teacher before she became a comedian. She was 40 years old before she realized she was always the funny one at parties. She started doing stand-up and the rest is history. Joy has this advice for you, “people should do what they loved to do when they were 10—the age before you start caring what others think.”

Patricia Kline, 50, from marketing executive to baker.

After her mother died, Patricia Kline of Menlo Park, California turned to the childhood ritual she’d shared with her mom—baking.  At age 49, Ms. Kline had lost her mother, and due to a faltering economy, the business she’d shared with her husband was officially over. She had been the company’s head of marketing and operations. Before helping her hubby build business relationships, Kline was a Silicon Valley communications executive. Patricia decided that she would not return to her PR roots. Instead, she became a baker, selling her famous pies from a coveted spot at her local farmers’ market. Patricia does special orders too and she has this advice for late bloomers and anyone wanting to make a career change, “when you lose so much, you discover that your identity isn’t made up of material things—it’s about what you can do with your brain and enthusiasm. Now {is} the time to take a chance and do something with pasion.”

Al Franken, 60, from SNL to U.S. Senator.

abc_franken_080627_mn

“I’m good enough, I’m smart enough, and dog gone it, people like me.” Need we say more?

Tammy Mack-Lowe, 35, from investment banker to stylist.

After college, Tammy Mack-Lowe did what other graduates in her major did—she took a job at Chase Bank. She spent 10 years in the foreign exchange and commodities group. When the market went south, Chase offered her a severance package. With it, she returned to her childhood dream of becoming a force to be reckoned with in the fashion industry. Tammy took her severance and savings and started a career as a stylist and personal shopper. Mack-Lowe saw losing her job as an opportunity to do what she always loved, yet as a college graduate, she just didn’t have the confidence or cash to do it.

Today, instead of crunching numbers in a conservative environment filled with cubicles and late afternoon coffee runs, Mack-Lowe’s days now consist of dressing models at photo shoots, dragging shopping bags filled with clothes for her clients around the streets of Manhattan, and searching for the fiercest fashions she can get her hands on for everything from socialites to Grammy nominees. Tammy has this advice for budding entrepreneurs and corporate castaways, “there’s a hierarchy in a corporation—you know where you stand. But in your own business, sometimes you’re meeting with CEOs, and sometimes you’re taking out the trash. You have to be disciplined—and suspend your ego.”

Andrea Bocelli, 52, from attorney to tenor.

Bocelli

Andrea Bocelli studied law at the University of Pisa, graduating as a Doctor of Law. He worked as a court-appointed lawyer before being discovered in 1992. Bocelli offers this advice, “I came to believe that if you have a gift, you have an obligation to share it with others. It’s as simple as that.”

Image Credits

Late Bloomer, 2.bp.blogspot.com
Al Franken, ABCnews.go.com
Joy Behar, CBSnews.com
Andrea Bocelli, lyricspond.com

The Steven Slater saga

Few events have sparked so much conversation in this country on workplace issues like the bizarre story of Steven Slater and his strange meltdown at work. He’s now a celebrity with legions of Facebook fans and constant coverage on cable news, but his story does raise serious questions about workplace conditions, stress on the job and losing control under pressure.

The Seattle Times has a story about how flight attendants get most of the brunt of customer anger over things like baggage fees and other stresses of flying.

Forbes discusses how to avoid have a Steven Slater incident in your own organization.

Ohio.com has a story explaining how to resist the urge to have a Steven Slater moment.

Yes, the whole incident has been a circus, but we’re seeing some thoughtful analysis and advice coming out of what is becoming a teachable moment.

« Older posts Newer posts »