July 31, 2007

Study: Boomers' retirement funds lacking
Posted by Douglas Eisenhart at 3:30 PM

Being a Boomer myself, I am happy to revisit this topic from time to time. The Big R ain't so far away as it used to be, and even though retirement is defined differently these days, in most cases it means diminished income.

So what's a fella to do? First, stay abreast of the news:

Nearly one-third of baby boomers ages 51 to 61 are at risk of not having enough in savings to finance a comfortable retirement, according to a study by the Center for Retirement Research at Boston College.

"We just don’t believe people are saving too much," said Alicia H. Munnell, director of the center.

A recently published academic study looked at the retirement preparedness of Americans who were in their 50s in 1992 and concluded that at least 80 percent had more than enough for retirement. Others have argued that Americans may be saving too much.

The Boston College study evaluated the same 51-61 age group, but looked at their finances in 2004, and found 32 percent to be "at risk" for not being able to maintain their preretirement standard of living in retirement.

Gulp. Time's running out!

Read the full entry from the Globe/Boston.com Daily Business Update. And stay tuned for more on this vital issue, facing millions of my age cohort.

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July 30, 2007

Ask and ye shall receive ... a bad review
Posted by Diane Danielson at 7:15 PM

Today's Washington Post discusses a new survey that demonstrates that the reason women don't get raises may not be just that they don't ask.  It seems that women who negotiate are more likely to be looked upon negatively.   

However, a new set of experiments by Babcock and Hannah Riley Bowles, who studies the psychology of organizations at Harvard's Kennedy School of Government, offers an entirely different explanation.

Their study, which was coauthored by Carnegie Mellon researcher Lei Lai, found that men and women get very different responses when they initiate negotiations. Although it may well be true that women often hurt themselves by not trying to negotiate, this study found that women's reluctance was based on an entirely reasonable and accurate view of how they were likely to be treated if they did. Both men and women were more likely to subtly penalize women who asked for more -- the perception was that women who asked for more were "less nice".

"What we found across all the studies is men were always less willing to work with a woman who had attempted to negotiate than with a woman who did not," Bowles said. "They always preferred to work with a woman who stayed mum. But it made no difference to the men whether a guy had chosen to negotiate or not."

Click here to read the whole article.

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July 27, 2007

Summer jobs: yea or nay?
Posted by Douglas Eisenhart at 3:22 PM

We've all been there, done that - summer jobs. And we all know the pluses and minuses of each - camp counselor, lifeguard, landscaper. For example:

9. Camp counselor

Pros: Being a camp counselor is a lot like being an older sibling -- you hang out with younger kids all day, play games, and try to keep them out of trouble.

Cons: There's A LOT of responsibility in taking care of other people's children. Also, if you're working at a sleep-over camp, you're away from you friends and family for most of summer.

Now here's your chance to express your opinion, thumbs up or down, on each. Check out this Boston.com online exclusive photo gallery and poll, starting here.

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July 25, 2007

Hey Dad, welcome to our world
Posted by Diane Danielson at 9:04 AM

I was out of the office on vacation and surprised none of my single dad pals sent me this article in the Boston Globe about being Daddy Tracked. I have to admit that I cringed at the headline and almost didn’t read it assuming it was about yet another study showing that the group who prospers most in business are married men or fathers after they divorce. But, lo and behold, this article was about single dads with custody and how they had to sacrifice their careers just like single moms in the similar situation.

Over all, I thought the article was really, really good! It showed in a fair and balanced way that being the sole custodian, no matter what your gender, affects your career and earnings. In fact there was only one paragraph that I thought was not in line with the rest of this article:

In a society that emphasizes the individual solving his or her own problems and offers little in the way of social assistance and services, men say they can feel overwhelmed and lonely and yet less able to turn to others for help for fear of being labeled unmanly or unable to cope. "No one wants a call at 8:30 saying, ‘Can I drop my sick kid off so I can get to work?’" Saltz says.

Well, not sure how this is unique to single dads. I don't know any parent who wants to make that call. In fact, the problem is a lack of support for ALL parents (male, female, single AND married). We don’t have the resources to support parents in an economy that relies on extreme jobs (i.e. any job that require more than 40 hours per week) to pay the bills. Having recently spent two weeks in Europe, it’s just such a different environment over there. (Don’t get me wrong, I know they have worse problems in other areas, but they do have a lot more resources, support and acceptance when it comes to children).

What was outstanding about the article (until that paragraph) was that it emphasized that being the sole custodian was the same no matter the gender.

However, I definitely agree with the gender differences the reporter points out in the next portion which talks about how single dads (especially of girls) are looked at with extra scrutiny as potential sexual predators. I really feel for them on this one. Unfortunately for them, men seem to make up the majority of sexual predators (I don’t have any statistical data, so please feel free to provide or disagree), so they’re stuck with the stereotype.

But as I seem to find more and more stay at home dads and single dads with custody in my world, I’m hoping we’ll start breaking down stereotypes as we build up resources that can benefit all children.

Click here to read the whole article.

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July 23, 2007

What keeps you going?
Posted by Douglas Eisenhart at 3:56 PM

There is a lot to read these days about the impending retirement of baby boomers and how organizations will suddenly be bereft of their skills, expertise, and accrued institutional knowledge.

On the other side of the coin, what will the baby boomers do when they leave all those organizations? We hear a lot about how "retirement" no longer means the same thing as it used to, a sedentary, years-long Barca-lounger cruise into true senility. It too is being redefined, a second act, a new time for reconnection and exploration of new things, or old things seen in a new way.

Which brings us to the question posed in this Career Journal article: "Could you turn a trip into a second career?":

Today, people approaching or entering retirement are more likely than ever to turn their favorite destinations -- or the activities they enjoy once they get there -- into full-time passions. Take Ron and Eva Stob, a California couple who, after tagging along for a week on a boat trip, decided to navigate the Atlantic seaboard and Mississippi River. The pair ended up publishing a book about their travels and have organized an association to guide other would-be captains along the same route.

"What keeps me going," says Mr. Stob, 69 years old, "is having something to do that I really enjoy doing."

And that's really it, isn't it? The big question, for young and old alike: What keeps you going? Answer: Something you enjoy doing. Brilliant statement, capturing motivation, purpose, and the desire to keep working in one simple phrase.

Read the full article, a lengthy treatment full of inspirational stories. Then ask yourself: what keeps me going?

It's a big, open-ended question. More anon.

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July 19, 2007

Is your job on the chopping block?
Posted by Douglas Eisenhart at 4:01 PM

A helpful piece from CareerJournal points out some signs your job might be in jeopardy. For example:

1. Your workload becomes much lighter. If you just finished a large project and nothing else appears to be coming down the pike, it may be time to worry, says [founder of WallStJobs.com Robert] Graber, particularly if your bosses begin assigning you duties typically considered below your pay grade. "If you're being assigned to jobs that are administrative in nature," Graber warns, "a light bulb should go on in your head."

Read the whole piece.

Hmmm. . . Occurs to me that if the proposed Rupert Murdoch acquisition, already approved by the Dow Jones board, goes through, maybe a few folks at the Wall Street Journal will be reading their own advice.

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July 17, 2007

Gallery: making a dime off Hub tourists
Posted by Douglas Eisenhart at 10:14 AM

It's that time of year when tourists flood the Hub, one of the premier destinations for travel and tourism - certainly of the historic variety - in the country.

So, thinks the enterprising mind, what kind of job opportunities does that present? Take a look at our special summer-in-the-Hub photo gallery and see some familiar and perhaps less familiar faces and places.

Ever had an odd job odder than any of these? Let us know on our message board.

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July 11, 2007

What Gen Y really wants
Posted by Douglas Eisenhart at 9:39 AM

Popular Globe Careers columnist Penelope Trunk ("Climb") has picked up a new gig at TIME magazine. Check out her first piece on Gen Y in the workplace:

With 85 million baby boomers and 50 million Gen Xers, there is already a yawning generation gap among American workers--particularly in their ideas of work-life balance. For baby boomers, it's the juggling act between job and family. For Gen X, it means moving in and out of the workforce to accommodate kids and outside interests. Now along come the 76 million members of Generation Y. For these new 20-something workers, the line between work and home doesn't really exist. They just want to spend their time in meaningful and useful ways, no matter where they are.

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July 10, 2007

Break away from the pack - with research
Posted by Douglas Eisenhart at 9:53 AM

How do you stand out from the competition during the job hunt, especially early on in your career?

When you are a recent graduate, your resume typically doesn't have the depth of experience to distinguish you from other candidates, so resumes can tend to blur in the recruiter's or hiring manager's mind.

Well, the authors of our new "Getting Real" column in the Student Center, D.A. Hayden and Michael Wilder, have at least one answer - research:

If you ask any ten job applicants what kind of research they do before an interview, nine will say, "I Google the company and look over their corporate website." Period. Nothing else. Then ask them if they got the job. Chances are, unless they knocked the socks off the interviewer with the force of their personality (or they are the chairman's son), they didn't. Why? Because looking at the company website is the cost of entry. Smart interviewers look for thoroughness, curiosity and initiative in their candidates. A perfunctory visit to the company website doesn't cut it.

So, once you've reviewed the website, think of approaching your research as an opportunity to show the interviewer what you're made of. Want them to think you're smart? Then use your research to come to some smart conclusions. Want to demonstrate your motivation and creativity? Get off your butt and do something unexpected.

See, all that experience reading and writing those papers does come in handy.

And just by reading this blog entry you are already in research mode. Carry on by reading the entire piece.

And good luck breaking away from the pack.

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July 5, 2007

Turn the tables on negativity
Posted by Douglas Eisenhart at 3:06 PM

Workplace contributor for ABC's "Good Morning America" and Yahoo/Hot Jobs career columnist Tory Johnson (yes, we're ecumenical here at Boston.com/Monster) has some positive advice about overcoming negativity during a job search:

Most of us let "reality" squash our career dreams before they've even had a chance to develop. Instead of listing all the reasons you can't do something, just this once list all the reasons you can, and should. Positive thinking takes practice. We all have negative thoughts from time to time, but it's possible to turn your negative thoughts into positive ones by following these simple guidelines.

A positive attitude is absolutely critical during a job search. Read on to find out Tory's tips on keeping your spirits up during your search.

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July 2, 2007

10 signs you've been abandoned in the office
Posted by Douglas Eisenhart at 3:59 PM

When July 4th falls on a Wednesday, as it does this year, the work week is usually screwed up. Who's coming, who's going? Who's here, who's not here? It's an unproductive mess.

But, loyal slave that you are, you're still here holding down the fort. How do you know you're on your own? Check out our special workaholic's photo gallery with ten signs you've been abandoned in the office:

So it's July Fourth week, it seems like everyone's on vacation, and yet it is you maintaining order in the office. You may daydream wistfully and jealously about the sailing trips and weekend getaways your co-workers have embarked upon, but your time will come, you think. Until then, you will be the warrior of the cubicle, the only man or woman to keep total anarchy from ensuing in the office -- even when it feels like you are the only man or woman in the office.

What do you think? Here's your chance to name the #1 sign you're alone in the office on our message board.

And I hope you at least get Wednesday off - yes? No? Maybe?. . .

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Lifeguard jobs lose their summer cachet
Posted by Douglas Eisenhart at 12:59 PM

An icon of summer loses its luster? Say it ain't so. Next thing you know they'll be shutting down the ballparks for lack of peanut-tossers.

Yes, the storied summer job of lifeguard, a position held by countless muscle-beach hunks and the man who would become President, Ronald Reagan, is in decline:

Seaside towns that once kept waiting lists for lifeguards are now struggling to fill their ranks. Positions are unfilled in some cases, and signs warning "No Lifeguard on Duty" are up.

Even in communities such as Beverly, where the lifeguards are plentiful, officials expect shortages by August when young people go back to school. And some coastal communities, including Wareham on Buzzards Bay and Rockport on the North Shore, are cutting lifeguard positions due to budget cutbacks.

Read the entire article and weep.

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