July 4rth 2012 Radio interview with Mark Toren president of Altura Search Partners &
Shelly Glover is the Member of Parliament for Saint Boniface in Winnipeg ;Parliamentary Secretary to the Minister of Finance of Canada
Introduction
The challenging economy of the past few years has exacerbated the problem of motivating employees.
For many in the North America, rising health care costs have gobbled up most of the meager raises they have received. Advancement opportunities have been severely limited due to the lack of growth of their organizations. And they have become disillusioned with management due to continuous reports about the corruptness of senior management at leading U.S. corporations.
Most workers these days are feeling over worked, unappreciated, and under compensated. We all know career dynamics have shifted dramatically over the years. Gone are the days where college grads joined a company and stayed for life, rising through the ranks to win that ultimate workplace trophy: the corner office.
Loyalty is no longer about putting in your time, or paying your dues. It’s about providing measurable value and being rewarded for it.
If the economy is going to rebound, people need to become more satisfied with their work. Based on a job satisfaction survey conducted by If you don't like what you do, how can your productivity and performance at work increase? How can organizations grow and compete when their employees lack competitive hunger? As much as an organization is responsible to provide their employees the leadership, workplace culture and tools to thrive, the employee is equally as accountable to find satisfaction in their careers.
In today's economy, you can't predict the future based on the past. However, one thing is certain: you must find your own career satisfaction and success. Today, you must continuously focus on creating opportunities for advancement. You must invest in yourself more than ever before so that you can discover the talents that you enjoy using most and how to best apply them in your work.
And are you an ambitious wannabe who jumps ship too often in quest of sustainable powers and career hikes? If yes, then beware! Hopping from one job to another in search of big Score may not always be the best career move for you. Most people wrongly assume that switching jobs is the fast-track route to big career advances when, in reality, hopping jobs can at times boomerang and stall your growth.
Today live from Toronto is Mark Toren president and founder of Altura search partners as he will discuss with us today’s employment picture in Canada , Why many Canadians are staying put in there jobs and also we will also discuss in a world of unemployment and chronic shortage of full time positions, some of the viable options-alternatives that are available for job seekers in today’s market?
My name is Samuel Ezerzer, your host to the Money & Business show on Radio Shalom, CJRS 1650 AM. Thank you for tuning in live on the Money & Business show, with our studio and headquarters in Montreal, the financial capital and the home to the greatest hockey team, the Montreal Canadians. We have another great show for you today and as always, you can call if you have any questions, comments, or criticisms on today's topic. Please call us direct at 514 738 4100 ext 200 or email me at moneyandbusinessshow@gmail.com if you have any inquiries. You can also visit our website at www.radio-shalom.ca – all our shows are archived there.
Topic: Survival skills for Competing in the modern job marketplace.
Biography
Mr. Mark Toren, President of Altura Search Partners and is considered a leading authority on executive search matters to the Asset Management Industry in Canada. A graduate of Montreal’s Concordia University, he began his working life in the clothing industry. In 1999, he became Founder & Principal of Altura Search Partners & Altezza Financial Group. He remains its active principal today. His firm, Altura Search Partners publishes a semi-annual newsletter (‘Announce’) focused on the asset management industry.
Mr. Toren’s articles have been featured in the investment industry’s leading publications, including the Globe & Mail, Advisor’s Edge, the Investment Executive, The CFA Journal & CFA Analyst. Mr. Toren is an affiliate member of Canada's prestigious Portfolio Management Association of Canada, an affiliate member of the CFA Institute, the Investment Advisor's Association, member of the Association of Canadian Employment Search & Staffing Services, the Human Resource Professional Association, the National Club, Montreal's Atwater Club as well as the Toronto Board of Trade.
Altura Search Partners has been a leading participant in professional development, industry events, advertising and sponsorship. Mr Toren is considered a leading authority on executive search – human resource matters to the Asset Management Industry in Canada.
SMALL TALK
You are a fan of The group Marillion ?
QUESTIONS
While unemployment figures have dropped somewhat, The general rate for unemployment is still high. The competition for jobs is incredibly strong and competitive.
1. Can you discuss in general terms how the employment market looks right now in Canada?
2. Soft Skills & job strategy have become ever so critical in today’s employer market. What are some of the survival strategies and job search techniques that are most effective in acquiring a new job in today’s world?
3. Individuals looking for full time employment often make assumptions that unless an employer is officially interviewing for a specific position, that its not worth going to meet with an individual at the firm to find out about the firm in general.
Do You have some specific thoughts and opinions on this and on the purpose and value of informational interviewing vs interviewing for a specific job being advertised. ?
4. In a world of unemployment and chronic shortage of full time positions, can you discuss some of the viable options-alternatives that are available for job seekers in today’s market?
5. In the past on the Money and Business show Mark, you’ve often mentioned about the importance of being smart, savvy and creative in the job search process. Can you explain what you mean?
6. Can you give us a general overview of the market-sectors that are growth industries for the next 10-15 years?
7.How does the general global- investor consumer market view the Canadian marketplace relative to the U.S. market?
Extra questions
-Mark It used to be that people would stay at a company for life, but nowadays, if you’ve been in a company two years, you’re the seasoned professional," - "Some even think if you’ve been at a company for five years, you should move on. Is that too long."
-Most people wrongly assume that switching jobs is the fast-track route to big career advances, when, in reality, hopping jobs can at times boomerang and stall your growth?
-Being a go-getter is good as long as you know where to stop! Most people drift from one trade to the next with little understanding that having more company names on their resume only rings instability and raises a finger on their competence. You cannot blame your employer for raising eyebrows at your resume that reveals 6 years of experience in 10 firms?
QUOTES
The transition from one job to another can be stressful. The longer an individual has been out of work, the fewer financial resources are available to meet personal and family needs. The average duration of unemployment decreased from 26.5 weeks in 1997 to 14.8 weeks in 2008. However, with the financial crisis, the average duration of unemployment increased to 21.1 weeks in 2011.
There was a significant decline in the average duration of unemployment for both men and women between 1997 and 2011. However, the average duration was consistently higher for men than for women. For men, the average duration of unemployment decreased from 28.8 weeks to 22.6 weeks. But for women, the duration decreased from 23.6 weeks to 19.2 weeks.
In 2011, residents of Prince Edward Island remained unemployed for the shortest amount of time, averaging 13.7 weeks. Workers in Quebec and Ontario experienced the longest duration of unemployment (23.2 and 22.1 consecutive weeks, respectively).
In 2011, Newfoundland and Labrador had the highest unemployment rate in the country at 12.7%, 5.2 percentage points higher than the national average of 7.5%. The provinces with the next highest unemployment rates were Prince Edward Island at 11.4%, New Brunswick and Nova Scotia and at 9.5% and 8.8% respectively. Saskatchewan had the lowest unemployment rate in 2011 at 5.0%, followed by Manitoba and Alberta at 5.4%.
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Here are five reasons people stay stuck in their careers and what you must avoid to find satisfaction and success in yours:
Get out of your comfort zone and open your eyes to the most obvious opportunities in front of you. Pay close attention to those that advance in their careers — they take chances, embrace risk and are not hesitant about putting ideas into action.
Use change as a learning tool. The more you embrace change, the more comfortable you become with uncertainty and risk. Learning to manage change and grow with it — helps you open your eyes to approaching renewal and reinvention as a necessity in your career that helps you achieve a distinct competitive advantage.
Do you know someone that has had the same type of job for over 10 years? While some people love their jobs, most of them have fallen victim to complacency. Therefore, they resist growth and maturity. These types of people stop learning new things and resist getting trained in new areas that can make them eligible for the next promotion with the organization. [
People get stuck when they lack the capabilities, skill-sets and confidence to advance.
Just look in the mirror and ask yourself, "Have I worked smart enough to improve myself significantly over the past month?" Am I getting trained in skills and competencies that will advance me? If you answered "no" to these questions — you have a lot of work ahead of you and it begins with your attitude to welcome challenges and expand your horizons. Think about those things that excite you most. Are you living them in your work every day? Make a commitment to stretch your thinking and stop procrastinating.
This hurdle is more common than you think. Some of the smartest people I know don't know how to sell themselves. The next time you are in a meeting, carefully observe how others sell their ideas and recommendations. How do they engage your attention and your desire to learn more? Are they selling "noise" to get noticed or is their approach thought-provoking and well-thought-out. Can they be trusted?
If people knew how to sell themselves more effectively, new jobs would be created, more effective client relationships would be formed and innovation would be plentiful. Do you ever watch
Companies are attracted to talent that sells itself. This means that you are effective at selling yourself as if it appears that you are not trying. Selling yourself is something that should happen naturally but requires you to understand yourself well-enough to sound genuine and trustworthy. [
Everyone has a story to tell and sell. Learn to tell your story well enough to sell it. Here is a tip: What are the three most common threads that exist amongst the most prominent success stories in your career? Package them and sell the story you want your employers to buy.
This is the one thing that impacts people the most. Their inner circle of friends and associates add limited value to their career. Successful people are surrounded by others that want their success to continue. Success breeds success — and you associate yourself with ambitious people, it makes you want to be more ambitious.
Here's a tip: When you think about the people that currently exist and / or those whom you would like to be in your inner circle, ask yourself — Do I respect them enough to be my mentor? [
Times flies when you're having fun. This idiom is indeed the truth. Time slows down considerably when things are difficult and they are not fun. This is the case for people that are stuck in their careers. Because they are not managing their time effectively and productively, they are wasting and not valuing their time.
Getting unstuck requires you to think about ways that make every hour count. Time is our most valuable asset yet people still don't value it enough. If they did, ideas would come to life, dreams would become realities and careers would take flight. People complicate their careers because they would rather listen to what others think they should be doing with it, rather than using their time effectively to figure out the answers on their own. [M
Other people can suggest but only you can define and search for your own career satisfaction.
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How to Motivate Employees
Motivating employees today requires getting back to basics. Here are 7 methods.
- Actively Foster Employee Growth
- Link Pay to Job Performance
My son just returned home from his freshman year at college. He is working at a retail store for the summer, his first real job. As part of his training, he learned that every time he convinced a customer to sign up for the company's credit card he would receive $5. He was also told that he would receive another $10 for selling a few selected products. He came home one day and said, "Dad, these incentives REALLY are motivating me. I had learned in my economics class that incentives are one of the 10 Guiding Economic Principles but now I really see it." He added, "I wake up each morning and think about how can I make more of these sales."
- Set Clear Performance Expectations
If job standards, criteria for success, and specific performance levels are not made clear and specific, employees will not be motivated to perform well.
- Provide Employees with the Opportunity to Fully Use their Skills
To fully utilize the skills of employees, ask them what else they would like to do and provide them with opportunities to use these skills.
- Enrich Jobs
- Help Employees Feel Part of a Winning Team
Share the good news and thank employees for their contributions. Doing so will help improve employee motivation.
- Help Employees Feel That Their Work is More than Just a Job
There were three movers in front of a moving van. One was asked, "What are you doing?" He responded, "I'm just putting in my time for this moving company." He added, "The more hours I work, the more money I make." The second mover was asked the same question. His response, "I am moving these boxes from the truck to the house." The third mover responded, "What I am doing is very important. I am helping a young family start a new life for themselves here on the east coast."
Ever notice how winning teams have a tradition of winning and losing teams have a tradition for losing? Success breeds success. Employees desperately want to be part of a winning team. However, senior management more often communicates failures than successes.
One-third of employees do not feel they have the decision-making authority they need to do their jobs well. To enrich a job, provide employees with challenge, autonomy, personal growth, and more of a say in how their work is performed.
One-third of all employees do not feel they are being fully utilized. It is important to employees that they feel as though they are fully using their valued skills and abilities on their job. If they are not, they will quickly lose interest in their work.
One of the reasons employees don't believe that their pay is tied to job performance is because they have never been told exactly what is expected of them. If they don't know what is expected, they won't know what they need to do to be viewed as a good performer. Management merely assumes that employees know what is good job performance and what is not.
Only 3 out of 10 employees feel that their company does a good job of linking their pay to their job performance.
4 out of 10 employees do not feel their supervisor supports their growth. Employees are more motivated when they know that by staying with the company they will have an opportunity to grow. Yet when business is slow, organizations are very quick to cut training. Our research shows that only half of all employees feel that they are given the opportunity to learn new skills on their job.
Which mover do you think is more motivated?
It's easy for employees to lose site of the fact that no matter what their actual work involves, they are performing a more important function for their customers.
Motivating employees today is particularly challenging. To do so, get back to the basics. Link pay to job performance and help employees grow, feel part of a winning team, and see the value of their work. Stuck Factor #5: People Don't Value Time;
Stuck Factor #4: Associate Themselves with the Wrong People;
Stuck Factor #3: Have Trouble Selling Themselves;
Stuck Factor #2: Resist Growth and Maturity ;
Stuck Factor #1: Avoid Confronting Change;
Conclusion
- Bruce L. Katcher
Bruce Katcher, PhD is President of Discovery Surveys, Inc. His firm conducts customized employee opinion and customer satisfaction surveys. Learn more at
