While the answer to this question can be considered subjective, and there are numerous good answers, we are going to pursue the answer that gives you the best chance to “seize the day.” For each person this decision is theirs, based on current circumstances, but there is a best time.
For instance, if you are a successful small business owner, the obvious answer seems to be, that you do not need a résumé. For most people in this situation, this is true. However, if your business is losing share regardless of the changes you have implemented, it may be time to find another niche to fill. This might be an opportunity to develop a second business as a sideline, or as a replacement that will slowly phase out your current business. Or, your niche might be to join a larger firm as an employee, with benefits that right now consume a large amount of your profitability.
If you are a small business owner, in almost any field, you know that if you are very successful, you will have an ever-increasing amount of competition. You are also responsible for all the benefits your company provides. As the costs for things like insurance and the omnipresent government regulations, continue to escalate, your share of the profits, can be eroded very quickly. At some point, you may be faced with the possibility that you have to find another line of income.
Obviously, if you are in a job that has lost its appeal, you want to have another job lined up before you leave your current situation. That is if you are willing to start over in another company or division. Sometimes the better solution is to stay within an organization and continue to improve your value, which was something we touched on last week.
In this age of competitiveness, and an employer’s market, so to speak, you may be competing for that promotion not only with peers but also outside candidates. This has become especially true, when employers feel they can get employees for lower cost, while only giving up some small amount of job related experience. The thinking is that company specific experience may not be so valuable if education and most skills are equal, especially if there is cost saving involved.
Of course, if you are currently out of work, you know how competitive the job market is, and how you need every advantage available. If you spend time on job boards like “Monster.com” or “CareerBuilder,” or any of the dozens of others, you will realize the demand for better educated, and more specific job related skills, has grown. Employers know that there are hundreds and even thousands of potential candidates, for just about every job out there, and they can demand a lot, for what they are willing to pay.
Now, let’s say you like your job and your employer seems to be happy with your performance, so you do not need a résumé, right? Well let’s look a little closer at your current situation. In my last post, I also alluded to the employer who seems to be “rocking along” with no plans for downsizing. Look at your raises, bonus, and other benefits. Are any of them stagnating or perhaps shrinking just a bit? These may be the first indications that all may not be going as well as you think.
Regardless of the scenario, you may fit into; the truth is that employment is no longer assumed a certainty, and that loyalty is no longer likely to guarantee you a job. So whether you are in a job you feel secure in, own your own small business struggling to stay afloat, or have lost your job, it is probably a good practice to get and keep an updated résumé. Even if you feel, you have nothing to worry about so far as job security, it is a recognized fact that the person interested in making leaps in earning power will have to make quantum leaps in value to their current employer. If that current employer is unwilling or unable to match that improvement in value, the alternative is to change employers.
Even though it is a chore, to give thought and effort to creating and maintaining a résumé, it is a necessity, if you wish to be prepared to change jobs. Even if you are only interested in a promotion within your current employer’s organization, a résumé puts your qualifications and credentials into a concise form and indicates your seriousness about the promotion. Internal job postings may require that you complete some specific form, but when you complete and submit it, include your résumé, unless precluded specifically by the job bid procedures.
While your employer may do an excellent job of keeping an accurate and current job skills inventory on each employee, don’t bet your chance of promotion on that assumption. A well thought out résumé, professionally presented may be just the little something extra that puts you ahead of all the other candidates.
If you are currently unemployed and in the midst of a job search for anything other than entry level work, you already know about needing a résumé. Entry-level jobs, requiring specialized education or certifications, usually require a résumé, in addition to a completed employer application. Even if you are not asked for a résumé, while applying for a job, it is an additional benefit to the prospective employer, and certainly will allow you to draw the hiring professional’s attention to value added skills, knowledge, and abilities you possess.
At the beginning of this post, I mentioned small business owners, who may feel that they have minimal need for a résumé. However, there were some situations where small business owners might have to look to outside employment to help get through a difficult time. Whether that other line of income is working for a larger business full time or taking on a part time job, you as the small business owner, will probably need a résumé.
The case can be made for, and I do recommend, getting a great résumé, and then keeping it current. The best time to get a résumé is when you don’t need one. There is less pressure to think of every detail, which can be so important later, and you are actually likely to think more clearly and objectively, than after you have lost your job, or in the rush to complete a résumé, for a recently posted opportunity.
Every week I get calls from people across all job categories, in a panic because they need a résumé yesterday. Sometimes, I can help them, but many times, I have to turn down the job or refer them to another writer. Even if I have resources available to help them, my feeling is that I am not being provided with the quality information required to create the best résumé they could get, if they had just been proactive.
A résumé is like an insurance policy, you hope you never have to use it, but it is nice to know that you are protected. While a résumé cannot guarantee you constant employment, no more than auto insurance can keep you from being involved in a wreck, both are ready for use if the need arises. So, even if you are in a job that seems secure, or you are happy with your current employment situation, now is the time to get a great résumé. Then when good things happen and you become more valuable as an employee, update that résumé. Some day you may be very happy you acted, preparing for the unexpected.
Sunday, June 26, 2005
Thursday, June 16, 2005
More on US Workers and Avoiding Third World Earnings
Looking at the BLS (Bureau of Labor Statistics) web this morning, it is interesting to note that most earnings over the March 2004 to March 2005period, have either fallen or been unable to keep up with the rate of inflation. Only a few jobs like mining and exploitation of energy resources showed a significant growth. Jobs in the plastics industries also paid more, which indicates increased pressure on petroleum production. This can only mean that we are going to be paying higher prices for energy, regardless of the final form, whether gas, coal, or electricity.
This also supports my contention that the American worker is earning less and headed toward third world earning power. Studying the data at the BLS web, http://www.bls.gov/news.release/empsit.t16.htm, it is clear, that the average wage for many jobs is actually decreasing. As more jobs are off shored, the competition for remaining jobs of the same level is increasing, strongly favoring employers. As workers leave existing jobs and replacements are hired, the starting wages for those jobs are lower.
Combining the earning with the inflation rate figures it soon becomes evident that unless you get a raise in excess of 5% you will only be marginally staying above the increased cost of living. If your earnings increased by less than 4% over the last year, you have gained no additional buying power. The inflation rate during that same period has grown from 1.74% in March 2004 to 3.15% in March 2005. The April 2005 figure was 3.51%. All this according to statistics provided by: "InflationData.com."
If your skill set is limited to those types of jobs that are earning less than last year, you can expect to have about 5% less buying power by the end of the year than last year, when you combine the wage stats and the inflation information. It is unlikely that any government intervention in the area of off shoring is going to be forthcoming, since there is little consensus on just what to do about the situation anyway. This means the American worker is going to have to be responsible for taking care of himself. So that brings us to the question: “What can I do about this situation?”
If you are in one of those jobs, which are shrinking in earning power, you have a couple of options. Good advice for everyone, regardless of the job, is continuing to learn and become more valuable to your employer. If you view your employer from an adversarial point of view, change that now. Right now, your employer is the means to acquire what you do have. Most employers do eventually reward extra effort, so by first partnering with your employer to improve your value, you improve your chances of at least maintaining your current level of buying power.
Taking the concept even further, if you continue to build your skills, and thereby your value to your employer, it is possible to be given more responsibility, which usually is accompanied by greater earnings. Talking with your employer about steps you can take to increase your value and be eligible for promotion, can be very beneficial, so long as you follow through on any action required, on your part.
Doing these things and getting no promotion, or improved wages, should be an indicator that your employer may not be growing the business. If this is the case, it may be time to begin discreetly, looking for a job where your chances are better. If you have been developing adaptable skills and abilities, which means they are transferable to other jobs, you also stand a better chance of improving your situation.
Other factors to look at are better opportunities if you relocate or improving your chances, by additional education. This may mean getting a degree, if you don’t already have one. You might also improve your skills and education in a closely related field, to the one in which you already work. Many jobs are being consolidated under one title, as employers continue to seek ways of cutting expenses to remain competitive.
The labor statistics cited earlier were for non-supervisory employees. If your current level of employment is above them, don’t think that you have it made, and none of this applies to you. As more jobs are being off shored, the number of supervisors and managers required in this country is also decreasing. The same steps recommended above apply to you also.
This also supports my contention that the American worker is earning less and headed toward third world earning power. Studying the data at the BLS web, http://www.bls.gov/news.release/empsit.t16.htm, it is clear, that the average wage for many jobs is actually decreasing. As more jobs are off shored, the competition for remaining jobs of the same level is increasing, strongly favoring employers. As workers leave existing jobs and replacements are hired, the starting wages for those jobs are lower.
Combining the earning with the inflation rate figures it soon becomes evident that unless you get a raise in excess of 5% you will only be marginally staying above the increased cost of living. If your earnings increased by less than 4% over the last year, you have gained no additional buying power. The inflation rate during that same period has grown from 1.74% in March 2004 to 3.15% in March 2005. The April 2005 figure was 3.51%. All this according to statistics provided by: "InflationData.com."
If your skill set is limited to those types of jobs that are earning less than last year, you can expect to have about 5% less buying power by the end of the year than last year, when you combine the wage stats and the inflation information. It is unlikely that any government intervention in the area of off shoring is going to be forthcoming, since there is little consensus on just what to do about the situation anyway. This means the American worker is going to have to be responsible for taking care of himself. So that brings us to the question: “What can I do about this situation?”
If you are in one of those jobs, which are shrinking in earning power, you have a couple of options. Good advice for everyone, regardless of the job, is continuing to learn and become more valuable to your employer. If you view your employer from an adversarial point of view, change that now. Right now, your employer is the means to acquire what you do have. Most employers do eventually reward extra effort, so by first partnering with your employer to improve your value, you improve your chances of at least maintaining your current level of buying power.
Taking the concept even further, if you continue to build your skills, and thereby your value to your employer, it is possible to be given more responsibility, which usually is accompanied by greater earnings. Talking with your employer about steps you can take to increase your value and be eligible for promotion, can be very beneficial, so long as you follow through on any action required, on your part.
Doing these things and getting no promotion, or improved wages, should be an indicator that your employer may not be growing the business. If this is the case, it may be time to begin discreetly, looking for a job where your chances are better. If you have been developing adaptable skills and abilities, which means they are transferable to other jobs, you also stand a better chance of improving your situation.
Other factors to look at are better opportunities if you relocate or improving your chances, by additional education. This may mean getting a degree, if you don’t already have one. You might also improve your skills and education in a closely related field, to the one in which you already work. Many jobs are being consolidated under one title, as employers continue to seek ways of cutting expenses to remain competitive.
The labor statistics cited earlier were for non-supervisory employees. If your current level of employment is above them, don’t think that you have it made, and none of this applies to you. As more jobs are being off shored, the number of supervisors and managers required in this country is also decreasing. The same steps recommended above apply to you also.
Saturday, June 11, 2005
American working class-falling to third world status?
With all the recent discussion and news about the shift of jobs offshore, many of us have concerns about the eventual outcome for the American working class. Big business justifies sending jobs out of the U.S., in order to compete in the global economy. One of the big selling points seems to be that by off-shoring jobs we are elevating the standard of living for millions of poor in third world countries. However, I wonder if at the same time, we aren't lowering the standard of living for millions of U.S. working people.
My feeling is that big business is not so magnanimous, as it would like us to think. The fact is the jobs pay the lowest possible rate, which will allow the positions to be filled. If earning minimum wage in the U.S. barely keeps a family of four above poverty level, imagine the effect on families with more than four, in the countries where the jobs are going. When employees in third world countries are paid pennies on the dollar, and have families of 6 or more, are their standards of living actually being raised?
You can probably see where I am headed with this line of thinking. While the standard of living in the third-world countries may be rising, I feel that it is insignificant when compared to the overall poverty of the surrounding populace, despite big business propaganda. Now, if only marginal improvements in standards of living in these countries, are the result of lost U.S. jobs; has the global economy really benefited? Jobs lost in the U.S. have certainly lowered significantly the standard of living for millions of American citizens, and produced negligible gains elsewhere. The conclusion must inevitably be reached that; overall, American workers are headed toward third world economic status, unless they are provided with better opportunities.
Where does it all end? As an American worker, what are your options? What will be the eventual global economic impact on all socio-economic levels in the United States? Will the standard of living for most of the world level off with a huge majority of "have-nots" struggling to survive, juxtaposed to a very small and elite group of "haves"? Over the next few weeks, perhaps these will be good topics for further consideration.
Regardless of your current situation, your ability to advance your career or start a new career, can be dramatically improved by being prepared with a professionally prepared résumé. Learn more by clicking on the "More Information" link below. The information is Free.
My feeling is that big business is not so magnanimous, as it would like us to think. The fact is the jobs pay the lowest possible rate, which will allow the positions to be filled. If earning minimum wage in the U.S. barely keeps a family of four above poverty level, imagine the effect on families with more than four, in the countries where the jobs are going. When employees in third world countries are paid pennies on the dollar, and have families of 6 or more, are their standards of living actually being raised?
You can probably see where I am headed with this line of thinking. While the standard of living in the third-world countries may be rising, I feel that it is insignificant when compared to the overall poverty of the surrounding populace, despite big business propaganda. Now, if only marginal improvements in standards of living in these countries, are the result of lost U.S. jobs; has the global economy really benefited? Jobs lost in the U.S. have certainly lowered significantly the standard of living for millions of American citizens, and produced negligible gains elsewhere. The conclusion must inevitably be reached that; overall, American workers are headed toward third world economic status, unless they are provided with better opportunities.
Where does it all end? As an American worker, what are your options? What will be the eventual global economic impact on all socio-economic levels in the United States? Will the standard of living for most of the world level off with a huge majority of "have-nots" struggling to survive, juxtaposed to a very small and elite group of "haves"? Over the next few weeks, perhaps these will be good topics for further consideration.
Regardless of your current situation, your ability to advance your career or start a new career, can be dramatically improved by being prepared with a professionally prepared résumé. Learn more by clicking on the "More Information" link below. The information is Free.
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