Today is: Wednesday, June 17, 2020 | Our next publication day: Friday, June 19, 2020
Unemployed Over 50:
Turning Adversity Into Advantage
by Kerry Hannon at nextavenue.org
The tropes are ingrained in our psyche. When life gives you lemons, make lemonade. When one door shuts, another one opens. When the going gets tough, the tough get going. So, how are you supposed to do that if you’re over 50 and have lost your job due to the coronavirus pandemic?
To find out, I reached out to Harvard Business School professor Laura Huang, who just wrote Edge: Turning Adversity Into Advantage. Highlights from my conversation with her.
5 Ways to Stay Motivated in a Frustrating Job Hunt
by Julia Corbett at themuse.com
Another day, another click to “connect” on LinkedIn. Your motivation bottoms out after searching for the latest variation of the same job with a different name. After checking—yet again—your stagnant inbox, you close your laptop in defeat.
It’s easy to get stuck in this draining cycle. My experience in the job search taught me that one of the biggest challenges is just maintaining the motivation to continue, especially when you're dealing with rejection and radio silence. But I also know that you can revive your motivation by making simple changes to your job-search approach, focusing less on all those resumes and cover letters, and more on you and what you want.
7 Positive Steps to Take After a Layoff
by Marc Miller at careerpivot.com
I originally wrote this post on positive steps after a layoff back in 2013 after there was a massive resource action at IBM. It was updated back in 2017 and republished as I was seeing a large number of small layoffs. You may choose to call this a RIF (Reduction in Force) Resource Action, or if you are in the UK, a redundancy.
I wrote back in 2017 that these small but frequent layoffs will become the norm in today’s world of creative destruction.
How to Choose Your Target Companies
by Nick Corcodilos at asktheheadhunter.com
If you’re job hunting, it’s likely because you ended up in the wrong job, to begin with. How do you ensure that it doesn’t happen again? You stop applying for jobs… Instead, you go after specific companies.
Pass it Along
If you attend networking events and go to jobs clubs, you’ve been meeting other job seekers just like you. Mention the Nifty50s to them and encourage them to visit as well. You’ll be helping them and you’ll make an appreciative friend for yourself.
What’s More Important Than Experience
For older workers, stability may trump experience
When most people talk about the benefits of hiring mature workers, typically the first word that comes up is experience. That’s understandable. When you consider all the benefits that older workers bring to the table, experience may very well be the 600-pound gorilla in the room.
And that’s OK. But there’s more.
We could wax eloquently about some of the many benefits of hiring older workers, but maybe it’s time we focused on some of the stronger points.
For instance, stability. On the job or on your own, you probably won’t need a sociological study to demonstrate that older adults are more stable than the young. Think back to your own days as a youthful firebrand and then try to tell yourself that you were just as stable then as you are now. Fat chance.
This is no pie-in-the-sky theory. There is verifiable data and empirical evidence to support this premise. According to the Bureau of Labor Statistics (BLS), as age increases so does tenure. The BLS states that older workers tend to remain with employers twice as long as workers between the ages of 25 and 35.
In addition, the National Association of Working Women reports that mature men and women have an 88 percent lower turnover rate than younger workers. And that’s very good news for employers everywhere – especially when one considers the ever-rising cost to replace employees who have exited the company.
The Society of Human Resource Management (SHRM) has found that for an average manager making just $40,000 a year, the cost to recruit and train the replacement ranges between $20,000–$30,000. That’s between 50 and 75 percent of the person’s salary. And, the cost goes up as the individual’s level and salary increases. Note that the cost to replace the average CEO can be as high as 213 percent of the predecessor’s salary.
Despite the fact that everyone wants to advance and move up the ladder, many employers place a high value on staying put.