Why People Change Careers – Coaching for Reinvention

Why People Change Careers

• 25% of surveyed workers plan to change jobs within the next two years.
• 41% are leaving their jobs to find a position with better pay and/or career advancement opportunities.
• 8% are changing careers; 7%say they want to find a company where they feel appreciated; 7% are retiring; and 5% plan to start their own business.

In terms of the top reasons why people change careers according to CareerBuilder:

• Bigger paychecks (As cited by 80% of respondents.)
• Flexible work arrangements (60% of companies currently offer flextime as of January 2008.)
• Perks and benefits (nearly 1 in 5 or 20% of companies planned to offer more comprehensive or better health benefits to employees in 2008.)
• More promotions and career advance opportunities (50%.)  

Two things really jumped out at me from this data.  

I was really surprised to see salary and “bigger paychecks” ranked so high on the list.  And of course as someone who works in the talent management and performance consulting fields, I loved seeing that a little over 50% of respondents stated that a company’s ability to offer career advancement was more important than salary. 

We discussed both of these points on our Insight on Coaching show dedicated to coaching for personal reinvention.

Pamela Mitchell of The Reinvention Institute highlighted a nice contrast to the CareerBuilder data on salary.  Pamela emphasized in her experience, for many people looking to reinvent their careers, once they hit a certain point in their careers it’s no longer about getting a higher salary.  

If it’s not about salary, than what is it about?  

According to Pamela – it’s more about acquiring knowledge and increased job satisfaction.

Pamela added in a survey of 350 professionals (70% of whom had successfully reinvented their careers) led by The Reinvention Institute, her team found that people who put money as their top reason for wanting to make a change were actually less successful in making these types of career shifts and changes than those who were seeking other things like more satisfaction, knowledge and passion.

Another phrase she used that I liked?  

“Reinvention is the new form of job security – for example we now have industries that come and disappear within a 15-year span for example.”

What does this mean for you?

Well from my perspective as a management consultant, it means it’s important to:

• Have a thirst for knowledge, learning, and new information.
• Recognize the workforce is constantly changing, and adjust your individual approach, behavior, and work style accordingly.
• Demonstrate an openness to new ideas, procedures, technologies, and industries.
• Display resilience in response to career setbacks, layoffs and other stressful situations with energy and optimism
• Demonstrate flexibility in being able to transition between different job roles or even industries.
• Be able to proactively seek and acquire new contacts, networks, and relationships on your own.
• Find a mentor and demonstrate an openness to learn from other people in different fields.  

All of the above will help you have good job prospects in the future.

Coaching for Reinvention

Coaching for Reinvention

In a feature for Diversified Recruitment Inc, career columnist Patrice Kelly writes “Corporations reinvent themselves internally everyday, but individuals also can make significant changes to improve their business and personal life.”

According to the U.S. Department of Labor, statistically speaking no one really knows what motivates many of us to want to change careers, or the number of times the typical person changes his or her career over a lifetime.  However one idea commonly attributed to the Department of Labor is that people change careers about seven times throughout their lives.

But what stops many of us from changing careers or pursuing our dreams?

Miami-based The Reinvention Institute says there are a variety of perceived barriers that stop many of us from reinventing our careers, including lack of knowledge, scarce financial resources, and a scarcity of contacts.

How can we overcome these challenges in finding the career of our dreams?  And what should we consider when debating whether or not to change careers?

Our panel of experts address these questions and more, focusing on how coaches who specialize in career reinvention can help reshape who we are, what we do, and how we choose to live our professional and personal lives.

Highlights of the show include:

• An overview of what personal reinvention is.
• Why reinvention requires a real commitment on a very personal level.
• The roles that planning and fear play in defining our careers.
• How reinvention experts are helping both business executives and celebrities like David Beckham achieve their goals.
• What to consider when making a career change.
• How career reinvention coaches can help people stick to their commitment of reinventing their careers.

Featured Guests:

• Michael Arthur, Professor of Management, Suffolk University, Boston
• Linda Clark Borre, Creativity Coach, From Inspiration to Implementation
• Pamela Mitchell, Founder and CEO, The Reinvention Institute
• Watt Nicoll, Personal Reinvention Expert, Watt Nicoll Associates

Tune into the podcast version of the Insight on Coaching show dedicated to Coaching for Reinvention to listen to career experts and coaches discuss how they’ve helped professional reinvent themselves, and learn the best ways to find a career that makes you happy.

Tom Floyd
CEO
IEC: Insight Educational Consulting
Specializing in Change Management, Workforce Performance, and Employee Development

Coaching for Reinvention

career coaching reinvention coaching The Reinvention Institute Diversified Recruitment Inc Insight on Coaching Watt Nicoll personal reinvention changing careers Turbo Tagger

The Impact of Cultural Values on Latino Employees

The Impact of Cultural Values on Latino Employees

Last year, the Hispanic Association on Corporate Responsibility (HACR) unveiled the findings of its 2007 Corporate Governance Study.  The study measured Hispanic inclusion on the boards of Fortune 500 companies and concluded that 71% of top U.S. companies lack Hispanic representation on their boards.

• Hispanics held just 3.1 percent of all Fortune 500 board seats in 2006.
• Hispanic women held just 0.8 percent of all Fortune 500 seats in 2006.
• Just two companies in the Fortune 500 had three or more Hispanic board members.
• Only 1 percent of executive officer positions were held by Hispanics.

While we discussed a variety of factors in terms of why more Latinos and Latinas aren’t showing up in the boardroom, one of the topics we discussed on Insight on Coaching was the impact of cultural values on a typical Latino’s job search, career development, and career advancement.

Is it important to understand the impact of cultural values to help ensure more Latinos are rising within corporate ranks?  

According to our guests – yes. 

Some of the cultural values discussed that can impact the way in which a Latino employee manages his or her career and performance include:

• An overall emphasis on collective and value-based culture rather than individualistic, mainstream culture.
• A sense of strong work ethic.
• A strong respect for authority figures.
• Significant importance placed on the nuclear family as well as extended family.
• Not feeling comfortable with self promotion or self marketing.
• A sense of responsibility and obligation to represent the entire Latino community in a positive manner.

The level of discomfort some Latinos can have in promoting or marketing themselves was a topic of particular interest on our show.

Deborah Deras cultural values diversity Latino culture Hispanic Association on Corporate Responsibility Rosemary Bombela-Tobias Hispanic culture Latino leadership The Complete Job Search Guide for Latinos Insight on Coaching Johns Hopkins University Turbo Tagger

Recruiting Latino Employees

Recruiting Latino Employees

In an August 21st, 2006 article in The Arizona Republic, Yvonne Wingett writes: “Recruiters are hired by all kinds of big companies to find bilingual, bicultural executives to teach them how to grab a bigger portion of money spent by Hispanics, the country’s largest minority. The prize: $700 billion a year and growing.”

However despite the demand, Yvonne states that recruiters are hard pressed to find, woo and land the talent. They are faced with a shortage of Latino graduate students, a corporate culture that has been slow to adapt to the country’s diverse demographics and develop leaders, and a Hispanic culture that encourages staying close to family.

Recruiting was a big topic on our Insight on Coaching show dedicated to Hispanic/Latino audiences.  Many of our Insight on Coaching guests discussed that while the Hispanic/Latino community is far from being a “new” group to many companies and recruiters, many outreach and recruiting efforts need to take certain factors into consideration when recruiting Latino employees.  For example it’s important to:

• Understand the importance of building relationships and trust with Latino candidates.
• Be willing to target a variety of colleges and universities – not just top ranked schools – and be willing to target lesser known schools and community colleges.
• Be willing to reach out to different marketplaces.
• Demonstrate and show your organization cares about – and is invested in – the Latino community.
• Recognize that generational differences will factor into your recruiting strategy as well – the means 3rd or 4th generation Latinos use to search for jobs will be different than those used by 1st and 2nd generation Latinos.
• Discuss and emphasize opportunities for additional education as well as mentoring through your company.
• Understand that Hispanic is not a “race” – the Hispanic community is composed of people coming from at least 20 different countries – and group specific values and beliefs may need to be taken into consideration as well.

Have recruiting efforts targeted at Latinos resulted in success?  For many employers, it has!

• While creating networking and mentoring programs such as La Red Familiar (the Family Net) for IBMs Latina professionals, the IBM Task Force is also recruiting actively at leading Hispanic universities.
• To increase Hispanic technology education and computer literacy, IBM also sponsors La Familia Technology Week each October.
• Around the country, IBM Corporate Community Relations partners with IBMers and nonprofits to sponsor activities ranging from e-mentoring programs to parent workshops on computer use.

Want to hear more about best practices when recruiting Latino employees?

Tom Floyd
CEO
IEC: Insight Educational Consulting
Specializing in Change Management, Workforce Performance, and Employee Development

Coaching for Hispanic/Latino Teams and Audiences

diversity Insight on Coaching recruiting Latino employees Latino diversity & inclusion Tom Floyd Hispanic Yvonne Wingett The Arizona Republic Insight Educational Consulting Latino community IBM generational differences Turbo Tagger

Coaching for Hispanic Audiences and Teams

Coaching for Hispanic Audiences and Teams

According to 2000 data from the U.S. Census Bureau, the Hispanic/Latino population in the United States grew 38.8 percent to more than 31 million, and is expected to reach 44 million by 2010.

HispanTelligence reports the number of Hispanic-owned businesses in the United States is expected to grow 55% in the next six years to 3.2 million, with total revenues surging 70 percent to more than $465 billion.

However in contrast to these trends, studies done by many organizations like the Hispanic Association on Corporate Responsibility (HACR) conclude that 71% of top U.S. companies lack Hispanic representation on their boards.

• How coaching Latinos can be distinctive from other groups.
• How cultural values like the importance of family impact Latino professionals in the workplace.
• The challenges Latino executives typically face in moving up the career ladder.
• Generational differences in younger Latinos versus those in the Baby Boomer and Traditionalist generations.
• How coaches are helping Latino professionals in areas including networking, recruiting, and discussing their strengths.
• The differences Latina women face in the workplace from Latino men.

Featured Guests:

• Donna Maria Blancero, VP, Research Division, National Society of Hispanic MBAs
• Rose Mary Bombela-Tobias, Coach and Principal, Global Diversity Solutions Group
• Deborah Deras, Coach and Co-Founder, Synergy Unlimited
• Lea Ybarra, Executive Director, Center for Talented Youth, Johns Hopkins University

Tune into the podcast version of the Insight on Coaching show dedicated to Hispanic/Latino teams and audiences as our guests discuss the growth of Hispanic/Latino audiences and look at how coaching helps to address a population that largely represents our country today.

diversity Insight on Coaching cultural coaching latino diversity & inclusion Tom Floyd hispanic Lea Ybarra diversity consulting HispanTelligence employee development life coaching Turbo Tagger

What are the Benefits of Executive Coaching?

What are the Benefits of Executive Coaching?

• Improved individual performance
• Bottom line results including profit
• Client service and competitiveness
• Development of people for the next level: confidence raising, skills and self empowerment
• Goal achievement
• Relationship improvements
• And retention.

I certainly agree with all of these benefits, but from my experience with my own executive coaches in addition to the work we’ve done on Insight on Coaching, I’d like to point out an important benefit that’s missing:  self realization.

While a difficult concept to quantify, self realization is an important aspect of ourselves that is gained over time through knowledge and experience.  Some of us are lucky enough to find ourselves along the way in both our professional and personal journeys.  Others of us aren’t as lucky.  

As an executive myself, coaching definitely inspired me to become more self aware.

From several guests on Insight on Coaching, I learned about a tool called the enneagram, and I plunged head first into an enneagram program through Helen Palmer’s narrative tradition.  

To say it rocked my world would be an underestimate.  

While it was thrilling to recognize the strengths I brought to the table both professionally and personally, it was sobering, if not downright disheartening, to learn about my weaknesses as they bubbled to the surface throughout the program as well.  

I used the knowledge of my strengths and weaknesses to recall situations I had experienced professionally, and recognized how these attributes of myself came into play.  I also realized how I was my own worst enemy sometimes.  

With the knowledge that came with this self realization, I was determined to lead both myself and my company in an even greater direction.

Then I started 1:1 coaching with a coach from the Strozzi Institute. When I began my initial work with my coach Mark, I thought I knew myself pretty well at that point.  

I was wrong.  You see, there’s always more to learn about ourselves.

Mark made me aware of additional behaviors that impacted my leadership.  Some were big picture observations.  Others were small – but just as important.

For example, Mark noticed my eyes got bigger when I was excited.  While this expression could be helpful when energizing a team around a new vision or concept, it could also be intimidating during a 1:1 conversation with an employee.

I was floored.  I had no idea I did that.  And I certainly had no idea of the impact, both positive and negative, such an innocent behavior could have on how I appeared and interacted with clients, partners, and employees.  

Through on-going coaching, I’ve learned how to harness this behavior more appropriately, while still being able to stay authentic to those things that make me, well – “me.”

As many executives become more self aware throughout their careers – I believe it’s the same.

Ultimately I believe if you know who you are, and you’re aware of both your strengths and weaknesses, you’re going to be more successful in all aspects of your life.

Is executive coaching the panacea to self realization and discovering ourselves?  No.  

But it is an accelerator, and when used appropriately it can have a substantial impact on both individual and organizational performance.

Others agree.

Manchester Inc. released the results of a study that quantified the business impact of external executive coaching. The study included 100 executives, mostly from Fortune 1000 companies, and concluded that “companies were more likely to retain executives who had been coached.”  Also, companies that provided coaching to their executives realized improvements in productivity, quality, organizational strength, customer service, and shareholder value. They received fewer customer complaints of executives who were coached.

Want to hear more?

Tune into the podcast version of Insight on Coaching to listen to our guests discuss the benefits of executive coaching.  

Tom Floyd
CEO
IEC: Insight Educational Consulting
Specializing in Change Management, Workforce Performance, and Employee Development

Executive Coaching

Helen Palmer executive coaching Insight Educational Consulting coaching podcast Tom Floyd enneagram self realization employee development coaching benefits life coaching self awareness International Coach Federation management consulting Turbo Tagger

Executive Coaching isn’t a “Fix It” Solution

Executive Coaching isn’t a “Fix It” Solution

Across all of the Insight on Coaching shows we’ve done on executive coaching, one thing that’s been abundantly clear to me – executive coaching isn’t a “fix it” solution.

Some people can fall into the trap of viewing executive coaching as a performance intervention, used to “fix” or correct areas of improvement for problem employees.  In this scenario, it’s too easy for people to think “if the coach can’t fix you – you’re outta here.” 

An executive coaching program should never be positioned as a “fix it” solution, targeted at those needing corrective action or improvement. 

As you’re building the business case for executive coaching in your company, a significant emphasis will need to be placed on the program as a growth and development tool, targeted at helping high performers hone their skills as they grow and assume greater responsibilities within your organization.

To minimize the “fix it” solution type of thinking, as you’re discussing the value of executive coaching with executives and other stakeholders, it’s critical to have conversations about what executive coaching is and isn’t.

Executive coaching:

• Is a personal development and growth tool targeted at high performers and executives.
• Should be tied to your company’s overall talent management and career development framework.
• Should be focused on enhancing specific competencies or skills tied to an individual’s job role.
• Is a confidential, collaborative relationship between a coach and his/her client.
• Can be one of many components within another leadership development or training program.

Executive coaching:

Establishing a program utilizing executive coaches can produce better alignment between an employee’s personal development and your company goals, the results often including personal growth, improved job satisfaction, and increased retention.

Curious to learn more?

Tune into the podcast version of the Insight on Coaching show dedicated to executive coaching to listen to our guests discuss what executive coaching is, why it’s important, and why it’s valuable.

Tom Floyd
CEO
IEC: Insight Educational Consulting
Specializing in Change Management, Workforce Performance, and Employee Development

Executive Coaching

Tom Floyd imperformance improvement career development Insight on Coaching executive coaching leadership development executive coach talent management training competency development Turbo Tagger

What is Executive Coaching?

What is Executive Coaching?

According to a 1999 International Coach Federation survey on Coaching in Corporate America, “there is no consensus of what coaching is, but there is a strong interest in learning more about it.”

While I’ve personally come to understand what coaching is over the past two years that I’ve done the Insight on Coaching show, it’s still an intangible topic for many people to get their arms around.  Yet more and more frequently, from top executives to celebrities, we’re hearing people mention and thank their coaches.

Does that mean all business leaders and executives should have a coach?

In the Business Finance column of the June 27th 2005 issue of New York Magazine, the author says – yes.  “With CEO tenure at an all time low and CEO dismissals at an all time high, retaining the services of a top CEO coach is no longer an option for chief executives who desire to increase their performance and longevity.”

So more CEOs and executives are using them – but what is executive coaching? 

In a nutshell, it’s a series of on-going, regular one-on-one, confidential sessions between an executive and a certified coach who specializes in working with leaders including CEOs, Vice Presidents, Chief Operating Officers, and others at the executive level. 

These coaches can be external experts or internal employees within the company hired to support the company’s executives in this very capacity. 

In initial sessions, executive coaches partner with their clients to help identify capabilities or skills where he/she would like to grow.  From there, an action plan is created that articulates the executive’s goals against these skills.  Subsequent conversations focus on challenges and improvements against those goals, while providing flexibility for goals to change and evolve over time.

Executive coaching can also include principles from sports coaching such as teamwork, personal excellence, and “going for the goal.” But unlike sports coaching, executive coaching is not about competition or based on win/lose.  It’s about growth, and most importantly it’s about self-realization.

What type of skills are executive leaders asking for help with? 

From overall leadership to organizational agility to dealing with shareholders, the sky is truly the limit.  However in order for executive coaching to be effective, it’s important the client choose those skills that are impactful or meaningful to his/her success personally. 

What I hear from both Insight on Coaching guests and from leaders themselves is the types of skills required for success at the executive level continue to change – and fuel an even greater need for executive coaches

Dayton Ogden and Tom Neff state in the January/February 2007 issue of Chief Executive magazine that “the fast-changing business climate demands a whole new CEO skill set.”  Their analysis is based on the Spencer Stuart survey which found that 95% of recruiting consultants at the company agree that leaders appointed to the CEO post require an entirely different approach, skill set, and set of experiences than their brethren who took the helm a decade earlier.

So is an executive coach’s ability to inspire self realization and growth against a constantly changing skillset in high demand? 

You bet it is.

According to the Society for Industrial and Organizational Psychology, “the demand for executive coaching has skyrocketed in the past five years. Today’s executive coach is intended to help leaders and potential leaders with the challenging road of organizational growth in today’s dynamic and unstable work environment.”

How are companies using executive coaches?  Well they’re using them to:

• Attract, develop and retain executive talent.
• Enhance personal transformation and growth within leaders.
• Develop a succession planning process that ensures a constant pool of qualified candidates to fill experienced roles at the executive level.
• Provide leaders with a means to hold themselves accountable to developmental goals discussed between them and their coach.
• Groom executives to continue to take on increasing responsibilities.

Want to hear more?

Tune into the podcast version of the Insight on Coaching show dedicated to executive coaching to listen to our guests discuss what executive coaching is, why it’s important, and why it’s valuable.

Featured guests on our Executive Coaching show include:

• Lyne Desormeaux, Clinical Psychologist and certified Co-Active Coach
• Alyssa Freas, Founder and CEO of Executive Coaching Network, Inc
• Anna Marie Valerio PhD, President of Executive Leadership Strategies, LLC

Your Insight on Coaching Host,

Tom Floyd
CEO
IEC: Insight Educational Consulting
Specializing in Change Management, Workforce Performance, and Employee Development

Executive Coaching

executive coaching Tom Floyd Insight on Coaching Wild West of Executive Coaching Alyssa Freas International Coach Federation Chief Executive leadership development executive coach Executive Coaching: A Guide to the HR Professional Turbo Tagger

Encouraging Employees to Vote – Getting Workers Out to Vote 2008

Encouraging Employees to Vote

According to Fischer and Phillips LLP, in a list of top eight election years dos and don’ts for employers based on the professional experience of nationally recognized labor and employment law experts:

• Do evaluate motives.
• Do remain neutral and comply with state laws.
• Do ensure policies are objectively developed and enforced.
• Do monitor political discussion.
• Don’t push for the goal agendas.
• Don’t criticize, joke or jab.
• Don’t solicit funds.
• And last but not least, don’t gloat.

Insight on Coaching guest Tiffany Adams from the National Association of Manufacturers (NAM) was quick to point out an important point missing from this list – don’t endorse a candidate when you are working in conjunction with a voter registration drive.

The majority of our guests emphasized the main role employers can play is helping to enable the voting process among employees by:

Essentially, as an employer you should serve as an advocate and enabler of the voting process.

In terms of the most important point to keep in mind, Tiffany also stressed the importance of remaining completely nonpartisan.  For example if you’re an employer who is participating in a voter registration drive, you should not provide any information about candidates.

Dana Walsh, a Republican candidate running for the 8th California District congressional seat, added a great point as well.  For many of us, the best way to get motivated is to get more involved in the local community first.

I found myself nodding at this – it’s exactly what encouraged me to get more and more involved in politics.  For me, what started out as volunteering at a small event in San Francisco gradually led into a position on the Human Rights Campaign National Board of Governors.

How can employers help? 

Provide information to employees on what’s going on in their own backyards, and encourage them to get involved in their local communities.

Tom Floyd
CEO
IEC: Insight Educational Consulting
Specializing in Change Management, Workforce Performance, and Employee Development

Getting Workers Out to Vote 2008

Tom Floyd National Association of Manufacturers political coaching Tiffany Adams Republican Party Dana Walsh voting 2008 election Human Rights Campaign candidate endorsements Insight on Coaching voter registration drives Turbo Tagger

Motivating Millenials to Vote

Motivating Millenials to Vote

According to a March 7, 2004 article in USA Today, since 1972, when the voting age was dropped to 18, young people have been increasingly disinterested in casting a ballot for president.  Turnout hit an all-time low in 2000 when an estimated 42% of voters 18 to 24-years-old went to the polls.  That compares with 70% of adults 25 and older who voted that year, according to the Center for Information and Research on Civic Learning and Engagement, based at the University of Maryland. 

Now the study, which was based on surveys, included a profile of what researchers called “Generation dot net” which was respondents ages 15 to 25.  They found that the younger generation was indeed politically disengaged. 

• Only 24% of dot net said that they followed government and public affairs very often, compared with 60% of elderly voters, 50% of baby boomers and 37% of Gen Xers. 
• Researchers also found the youngest group were the most distrustful with 70% agreeing with the statement that most people will take advantage of you. 

On this week’s Insight on Coaching show, I asked if some generations were more inclined to vote than others.  While our guests pointed out that voting numbers tended to be higher within the Baby Boomer generation, our panel’s point of view differed from the USA Today article.

In addition to discussing the role Baby Boomers can play in engaging younger workers in the workplace, Donna Karlin pointed out that many Millenials are drawn to causes and are inclined to take an active role in championing them. As Millenials aka “Generation Y” are moving into leadership positions, many naturally speak their minds and express their concerns on issues.

What does this mean for you as an employer? 

When trying to motivate younger works to get involved in the voting process, encourage them to champion the issues they’re passionate about, and remind them of their role in making a difference for both themselves and the global environment in which we all live.

Tom Floyd
CEO
IEC: Insight Educational Consulting
Specializing in Change Management, Workforce Performance, and Employee Development

Getting Workers Out to Vote 2008

political coaching voter registration Donna Karlin Fast Company generational coaching Millenials Generation Y baby boomers generational differences voting 2008 election workforce performance Turbo Tagger