How the job market has changed. The hamster wheel begins

By Taylor Shields, Ph.D., CFP® and Founder of Aspire Wealth Advisors At any time you’ll hear the stats that 75% of employees quit within a year of joining a company. That’s a big majority…

How the job market has changed. The hamster wheel begins

By Taylor Shields, Ph.D., CFP® and Founder of Aspire Wealth Advisors

At any time you’ll hear the stats that 75% of employees quit within a year of joining a company. That’s a big majority and a big number. That figure is further proof that change is in the air in the employment world. I’d say that no one thrives in an environment with lack of job security and constant turnover.

Not every employer feels that way. Some believe that risk-taking fosters growth and creativity and encourages an energy that promotes the organization. Some organizations enjoy the feeling of working independently. I like to think of them as a cocoon of self-satisfaction surrounded by hermits.

Certain organizations are feeling a little fickle these days. Employers are hiring, but they also need experienced mentors, what’s called a “transitional coach” or a “passport.” The reason for these changes in management structure is probably rooted in age and succession planning, an environment that keeps employees on their toes, encourages change and focuses on bringing in new perspectives.

An “in” attitude. Recently, I was talking to a fast-moving organization about its more stable new approach. The new attitude is called “in” and is designed to raise the bar and push the organization ahead. The company is transforming in to a series of “feeder” companies or business groups – which are managed within the larger structure of a giant corporation.

This process is quite telling of the employer’s expectations in the world we live in. Make no mistake about it, they’re competing for skilled talent with a skillset that can be applied to many fields. The person is “in,” and the individual becomes the new “in” person.

I’m not going to tell you what the organization’s name is. I just know that it’s headquartered in a major metropolitan area, has a presence in several East Coast cities and is situated in an area of manufacturing, engineering and other creative careers. They, like many companies, focus on changing over time.

Interviewing about their approach, they tell me that the company is experiencing a significant upswing in their ability to hire and they are looking for excellent candidates with the right balance of experience, curiosity and a willingness to move forward. Most everyone has a stable schedule.

I ask if everyone feels free to plan ahead, to be thoughtful about their next step. They explain that they feel like an organization that has good leaders continually in place. People are hired and they are fulfilled. If they don’t recognize the fit, and if their most skilled people leave, they don’t feel they have a viable alternative. The urgency is there to attract and retain top talent.

To some, this sounds like a hamster wheel. A fast organization that is moving quickly, but has little grasp of what’s next and who they are. To others, it looks like they’re trying to maintain control of their market while moving forward in an opportunistic and dynamic fashion. This is a time when minds and hearts are changing and when organizations need to evolve at a pace even faster than the minds and hearts are moving.

Sure, some people like to think of themselves as a hamster wheel. I like to think of these organizations as the more successful ones that recognize the need to be dynamic as well as successful.

Assemble This Task Force. About this time a few years ago, I started seriously thinking about recruiting those who can manage change. If you’re an employer with a flat structure or a loose one, let’s say you already have experience with a long list of potential candidates who want to be your “transitional coach.”

How does this tie into your recent change in thinking? You’ve met a few. What would it mean to have a team that can help you create a matrix of individuals (who, if needs be, can be fluid with each other). This is really about having a person, not just a staff member, who can help you think about the quality of your success and your plan for the future.

When looking for talented people who can help you, don’t feel restricted.

You have several options when it comes to how you can assemble a team that can help you continue to improve. How do you view this and which way do you tend to work? Here are some thoughts about how it’s done.

By Taylor Shields, Ph.D., CFP® and Founder of Aspire Wealth Advisors. From this, he has acquired more than

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