Tag Archives: #career development

Finding purpose through self-reflection

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We hear a lot about “finding your purpose” these days, whether it’s to develop a personal career plan, or to validate a business idea. My colleague Carolyn Tate, founder of the Slow School of Business, spoke on “purpose” at the recent Huddle Design Fest drawing on her TEDx talk for Telstra entitled “Profit on Purpose”. During her presentation, Carolyn referenced the Japanese concept of 生き甲斐 (“ikigai” = “a reason for being”) which is sometimes represented in the following diagram:

Ikigai-EN-optimized-PNG

“Finding the purpose of your life”. Graphic representation by @emmyzen (Emmy van Deurzen). Image sourced from Wikimedia Commons

Variations on this theme include, for example, the work of Lianne Bridges and Susan Biali. Earlier, more prosaic, interpretations might be found in the work of Richard N. Bolles (“What Colour is Your Parachute?”) or Spencer Johnson (“Who Moved My Cheese?”).

What it all boils down to is connecting with your values and interests, and finding a balance between what motivates you, what rewards you, what you can contribute, and what people want from you.

For me, a the starting point is developing a personal narrative, to understand how you have arrived at this particular point in your life and/or career, in particular your influences, achievements, challenges, experiences and insights. Through this self-reflection, some common themes should emerge that can form of the basis of defining your own purpose. This should include your core values, the things that are important to you, and your own particular passion.

Where I may differ in my interpretation of “purpose” is that I believe that our purpose can change over time. I don’t see purpose as singular or even linear – it’s multi-dimensional, dynamic, situational and contextual. Our needs and our circumstances don’t stay the same. Likewise, our relationships and the the external environment are constantly changing. So our purpose will likewise be different at different points in our life. For example:

  • Early in our career we may be technically qualified, but without relevant experience we may not be able to command the most senior roles or the highest pay – so our purpose may be to hone our skills and knowledge
  • Later, we may find that our focus on things like marriage, children and a mortgage means we may be willing to get well-paid for work that we don’t actually enjoy – someone I was coaching recently stated that “I’m caught in a job” which was preventing him from pursuing his passion (thankfully, he has since decided to pursue a portfolio of interests, rather than stick with a single job he no longer enjoys)
  • During the “third act” of our career, financial or material rewards may not be so important, but we still need to be engaged in work that we enjoy, that motivates us and which can still sustain us at more than just a basic level of food and shelter
  • Throughout, I think it is essential to keep connected to our true passions (especially creative outlets), in part to provide a counterbalance to work/financial/external imperatives, in part to explore alternative ideas, find linkages between our other interests, and even to connect with new technology – for example, in my own case, my interest in electronic music has led me to recording an album using iOS devices, releasing it via social media sites Soundcloud and Bandcamp, getting it broadcast on the ABC, and beta-testing new music apps

When working with clients to help them re-connect with their business or their career purpose, I like to do an audit of where they are now, and where they could be in 3-5 years time. Through a process of exploring what might be possible, and reframing the present to re-position it for future growth and development, we can discover ways to regain balance by prioritising what’s important, reconfigure or even abandon what isn’t working, and re-establish goals and objectives.

While it is important to strike a balance between the “four pillars” of the ikigai model, my experience is that rarely will all four be in equilibrium – at times they may even be in conflict with one another, or at least in a state of flux. But it’s the resulting points of friction, when we look at them objectively, that can be the source of ideas, context, clarity and resolution. Making time for regular self-reflection enhances our pursuit of purpose, and allows us to take stock of our current situation, without undermining our core values or abandoning our particular interests.

Next week: Challenging Monocultures via Crop Rotation

It’s never too late to change….

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Few things annoy me more than when someone in their late 20’s or early 30’s says: “I’m stuck in my job, and I can’t do anything about it.” My immediate reaction is to shout, “No you’re not, and yes you can!” But I stop myself, and ask instead, “What’s stopping you from making a change?” Usually, there is a mental blockage, and an inability to think outside or beyond the immediate situation. In turn, this is often linked to a distorted perspective about how they got to where they are, coupled with unreasonable (and therefore, unrealised) expectations.

Sculpture, Ueno Park, Tokyo (Photo © Rory Manchee, all rights reserved)

” A new perspective?” (Ueno Park, Tokyo – Photo © Rory Manchee, all rights reserved)

Helping my clients to identify the barriers in their way (in particular any deeply entrenched obstacles), and to explore ways to dismantle or overcome them usually leads to alternatives: a new job opportunity, a potential career transition or a new business direction. It may not be an easy or comfortable process, but it’s not impossible. At its heart is the need for self-awareness, the willingness to embrace change, and the commitment to making it happen.

“See You At The Barricades”

Here are some of the initial objections I hear when people say they can’t make a career change or transition:

  • Financial security
  • Lack of time
  • No access to resources
  • No idea what to do next, where to look, how to plan
  • Enjoy the job, but not the organisation (or vice versa)
  • This is the only work they know, or studied/trained for
  • Non-transferable skills or inadequate training

My usual response is to get them to re-contextualize. It’s rather like using cognitive behaviour therapy, to reframe the situation. “How could you look at this differently?”, “What if you did this?”, “Who could help you overcome that?”, “What would be the ideal situation?”.

“Money’s Too Tight To Mention”

I understand that financial insecurity can be a major cause for concern. The certainty of a regular salary (even if you hate the job) can be preferable to taking a pay cut for a more rewarding role, or having to forego immediate financial return during a period of retraining or re-skilling. But if you are only doing a job because of the money, the likelihood is that you may never be entirely happy in your role, you may come to resent the work you do, and eventually you may lose sight of what is important to you. Plus, the knock-on effect on your personal well-being and that of your family can be significant. After all, no job has a lifetime warranty or even a 2-year guarantee, so the paycheck will probably run out anyway.

“Time Is On My Side”

Even if your financial circumstances or apparent lack of time mean that you can’t leave your current job or explore other options without securing a comparable income in another role, there are several ways to prepare for a career transition:

  • Re-train in your own-time – use on-line courses, evening classes and weekend workshops to access new skills and education
  • Ask your current organisation about options for study leave or flexible work hours
  • Suggest a personal development plan that draws on existing resources – e.g., shadow another colleague, or do a rotation or secondment to another team or department
  • Workers in some industries or older employees may be able to access public funding to support retraining and re-skilling
  • Use your annual leave to intern or volunteer at an organisation where you might like to work in the future

“Possibly Maybe”

There are many new opportunities for personal development through short courses, skill sharing or peer-to-peer platforms, and alternative learning paths to re-connect with your purpose. It might even be possible to reconfigure or restructure your current role to better suit your needs. Besides, the job you were originally hired for (or the industry and/or the career you trained for) has probably changed significantly; if you are not doing some regular re-engineering, you risk being confined to outdated thinking or processes, or worse, becoming obsolete.

“This Is Your Big Opportunity”

In fact, you have an obligation to yourself to invest in your own career, by re-training, updating your skills, or embarking on new challenges. Increasingly, organisations expect employees to take personal responsibility for self-managing their career, their professional development and to maintain the technical currency of their skills. Even better if you can demonstrate that learning a new skill can support innovation, generate efficiency gains, or deliver customer benefits. There are increasing examples where collaboration, co-creation and cross-pollination of ideas, skills and people between organisations and their suppliers/vendors/clients/distributors can have mutual outcomes, and employers are looking for people who can identify these opportunities.

“This Is The Way”

From personal experience, curiosity, pro-active networking, asking questions and generally taking an interest in what is going on in and around the organisation and wider world can reap huge rewards. In my own case, having a sense of enquiry prompted a transfer from London to Hong Kong to open a new Asian office for the company I worked for. Earlier in my career, I took evening classes so I could transition from a role in the public sector to a new career in publishing. And I continue to find new learning opportunities through meetups, hackathons and startup pitch nights, and attending workshops on innovation, collaboration, design thinking and technology.

I’ve written previously about the changing economic relationship of employment, because it’s incumbent on all of us to learn resilience and adaptability. We have a duty to equip ourselves in order to cope with and prepare for the continuous change and volatility we are all experiencing in the nature of the work we do.

Finally, for anyone who says they are “too old to change”, consider this: I recently met a man in his 60s, who had retired from a lifelong career in teaching, quickly got bored, and so he went back to college and is now a licensed horse trainer. He gets up earlier than he used to as a teacher, but he has connected with a passion and made it his career choice.

Declaration of Interest: I am a member of the Slow School of Business Advisory Council, which delivers Slow Coaching and Talk on Purpose

Next week: ANZ’s new CEO on #FinTech, CX and #digital disruption

Finding Careers in #FinTech

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Through the many meetup events I attend around Melbourne, people often ask me for career advice on which FinTech startup to join or follow. In response, I try to summarise where I see the current state of the sector, and clarify where they see a role for themselves – information I am happy to share here. I should preface my remarks by stating upfront that I am not a qualified career adviser (but I can refer you to people who are).

First, in choosing to make a career move to FinTech (or any other startup venture), it’s important to know whether you are looking for a similar role within a new business, or making a move into a new area such as product management, UX, content development or coding. Assuming you have acquired the necessary technical skills to transition into a new role, you still need to work out what your personal fit will be in a startup environment. Alternatively, you must demonstrate an ability to apply your knowledge and experience to the benefit of the new business, and a willingness to learn on the job (and perhaps even in your own time, and at your own expense). Accountants who can write code might be rare, but someone with a finance background and who is proficient in writing spreadsheet macros may have a better chance of transitioning into coding if they can build on this core expertise (e.g., helping to develop algorithms for decision-making tools such as stock-screening applications).

Second, FinTech within Australia is still largely based on P2P lending (including SME), payment solutions, banking apps and price comparison platforms, with some developments in financial planning (“robo advice”, stock tracking, portfolio management). Oh, and cryptocurrency, although since CoinJar relocated to London, this seems to have gone quiet…. While there are some B2B FinTech startups (e.g., Moula, Bluedot), they are still in the minority, so the current opportunities are mainly going to be within B2C solutions, or those playing in two-sided markets. This dynamic will also influence your decision.

Thirdly, everything we are seeing points to exponential growth in mobile banking, payments and financial services, but each vertical is taking a different approach because of their respective regulatory frameworks, transaction models tied to technology platforms and commercial processes, and the underlying lack of a true “single view” of customers. For example, within the next 10 years, 80% of new superannuation accounts will come via mobile engagement – which is why we are seeing a growing number of industry funds targeting a younger audience, aligning with “lifestyle” choices, and bundling financial planning and advice services. Rather than “big data” dumps, these super funds need demographic and psychographic data to support their digital engagement strategies.

Fourthly, FinTech is obviously important, but it can no longer simply play on disruption – technology is the enabler, and partnering is the way forward. If you have a track record in bringing parties together to collaborate, to form joint ventures, or to engage in any sort of co-branding exercise, then you will find opportunities emerging all the time. As discussed at a recent FinTech event, even large banks are realising the need to partner and collaborate on new technology, especially when it’s not part of the bank’s core expertise. However, as one superannuation fund director told me, it’s also challenging for large organisations to outsource part of their technology to smaller companies because they are giving someone else custody of their brand.

Finally, it’s difficult to predict what the FinTech jobs of the future will be (just as 10-15 years ago, roles in content marketing, social media and SEO hadn’t been thought of). A simple principle that has helped me navigate a zig-zag career path (to transition from the public sector into large corporations, and from full-time roles into a portfolio career) has been knowing my transferable skills at all times, and being aware of the need to replace and refresh them as required.

Next week: What I did on my holidays…

“I’m old, not obsolete”

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In the recent “Terminator” sequel, Arnold Schwarzenegger coins a new catchphrase: “I’m old, but I’m not obsolete”. He may not be the latest android, but he has learned to adapt, he is still relevant and his purpose remains consistent. A bit like older workers, then: not ready to be consigned to the scrap-heap, consistent and reliable, and even capable of being upgraded (as Arnie is towards the end of the film).

Terminator Genisys

Remaining relevant is tough, even for a Terminator….  (Copyright 2015 Paramount Pictures)

A great deal of the discussion on employee engagement, business productivity, workplace flexibility and career transition talks about what we do with older employees, particularly those in their 50’s, who often struggle to find comparable work when they are retrenched or “restructured”.

Many 50-somethings can vouch for the fact that making a career transition into another full-time role can be extremely difficult. In my own case, I left my last corporate position just after I turned 50, and I soon realised it would be virtually impossible to find the exact same or similar permanent role elsewhere. So I embarked on a portfolio of interests (non-executive board positions, consulting work, contract roles and entrepreneurship) in order to remain “economically active”.

Over the past four years, in order to remain active, retrain and build my professional networks, I have:

  • completed the AICD Company Director course
  • served on a number of advisory and pop-up boards
  • launched this weekly blog, and written for 3rd party sites
  • coached business owners and entrepreneurs
  • competed in a FinTech hackathon and a MedTech startup competition
  • consulted in the education, public, NFP, publishing, manufacturing, technology and professional services sectors
  • joined numerous MeetUp and networking groups
  • participated in the Lightning Conference on Victoria’s StartUp Future
  • developed a new app for employee performance management,
  • trained as a presenter on community radio, and
  • become a participant and adviser at the Slow School of Business.

As part of my plan to become familiar with new technology, I have also built a side-project to record and release my own music via Bandcamp and Soundcloud, incorporating many iOS apps for which I am a beta-tester.

Not all of this activity is remunerated, yet the people I work with all tell me how much they value my unique input and original insight, and so I keep on doing it. Given the need/expectation to work longer, and the continued tinkering with tax, super and income rules and policies, I’m not sure many of us can ever think about full-time “retirement” (whatever that now means).

I’m aware that there are some ad hoc initiatives to engage older workers as mentors for new entrants to the workplace. While such projects are well-meaning, and may have some desirable benefits, they are not yet financially sustainable, and don’t address the core issue that the expectation of full-time, permanent, lifelong employment is no longer realistic, and we will all have to adapt to these new circumstances.

On the few occasions I have considered full-time roles, I am staggered that so many prospective employers seem incapable of thinking outside the box: on the one hand, they say they want diversity and fresh thinking; but on the other, they resort to the habit of appointing square pegs for square holes.

There is a real sense among many of my peers that their age counts against them, because either employers don’t believe they can learn new technology or processes, or that their previous seniority means they are only interested in roles where they can wait out their retirement, or simply “direct traffic”, rather than getting their hands dirty. Which is both insulting and demoralising. I recall one early discussion where the recruitment consultant said, “despite what the ad says, the business just wants a safe pair of hands – someone who has done the exact same role in a similar organisation for the past 20 years”. How does that support diversity, in particular, cognitive diversity?

So, my question to employers, hiring managers, industry bodies and policy-makers is: when will you truly embrace the challenge of (and opportunity for) change in your hiring and employment practices, and how do older age workers fit into your thinking (if at all)?

Next week: Startups, VC’s and Entrepreneurs