Q TIPS:
Quick and Quintessential Career & Job Tips
Job-hunting tips from the November 17, 2003 issue of
QuintZine.
Since this issue talks about sought-after skills, it's worthwhile to note a recent survey by The Conference
Board that found that the impending retirement of experienced baby boom workers is likely to create
widespread skills shortages in many companies. The survey also noted that companies will need to create
succession plans so that invaluable knowledge can be passed on to future corporate leaders.
Read
the full press release about the survey.
Employee pay raises are projected at about 3.6 percent for 2004, according to a recent survey of
1,276 companies by human-resource consultants Hewitt Associates. Salary increases in 2003 averaged 3.4 percent
and were the smallest in 27 years. Similarly, in a poll of more than 1,700 companies, Mercer Human Resource Consulting
found average pay raises in 2004 would be about 3.5 percent. That marks the third consecutive year that annual pay
increases have fallen below 4 percent. Employers also are becoming more frugal with bonuses and other spot
incentives. Company spending on performance-based pay was only about 8.8 percent of payroll this year, down
from 10.8 percent in 2001, Hewitt found. Another survey of 1,160 small companies by the National Federation of
Independent Business found only 10 percent plan to give raises in the next three months. Pay freezes are thawing
because employers are somewhat more optimistic the economy will turn around. The Hewitt study found only 2 percent
of companies are expected to have a freeze next year, down from 8 percent in 2003. One possible factor behind
the cautious approach is that overall compensation costs are climbing. Benefit costs rose 6.3 percent for the year
ending June 2003, according to the U.S. Department of Labor, in large part because of the continuing rise in the costs
for health insurance.
Here's the first of a continuing series of job-search tips for mature workers from
Certified
Career Coach Marilyn J. Tellez, M.A.:
No. 1. WHO AM I? A job search begins and ends with YOUR answer
to this question. As a mature job- seeker, spend as much time as needed on answering this question BEFORE the job search
begins. Write out an autobiography of who you are, where you have been, what you have done; especially about the WHO.
Don't be concerned with details, spelling or grammar; just write out the story of your life....to be continued...
Since this issue talks about sought-after skills, it's worthwhile to note a recent survey by The Conference
Board that found that the impending retirement of experienced baby boom workers is likely to create
widespread skills shortages in many companies. The survey also noted that companies will need to create
succession plans so that invaluable knowledge can be passed on to future corporate leaders.
