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Job Skill Supply and Demand

January 17, 2019 By Tom Mungavan Leave a Comment

LinkedIn has created a major market for buying and selling job skills.  They have 30 thousand companies using LinkedIn to recruit with 3 million jobs posted.  With clear insight into the supply and demand curves for job skills, LinkedIn provides reports of where the biggest gaps are between supply and demand by metropolitan area.

When I was running a large technology organization, I asked people to create the resume they wanted to have a year or two from now, and to look at what they needed to do to make that resume come true. It provided focus for their development, and openness to the fact my team was in high demand by recruiters, and we did not have to pretend it was not true.  My message was, “If you are valuable to others, you are valuable to us.  I just ask that you talk to me before taking an offer someplace else.” When there is clarity about how to provide value, everyone wins.

Minneapolis / St. Paul Example

LinkedIn reports on the top gaps in the marketplace. The top ten skills where postings show bigger supply than demand are listed where #1 is the biggest skill surplus:

  1. Project Management
  2. Management Accounting
  3. Employee Learning & Development
  4. Manufacturing Operations
  5. Product Development
  6. Negotiation
  7. Business Management
  8. Procurement
  9. Inside Sales
  10. Product Marketing

The skills shortages are where demand exceeds the supply. They are listed where #1 is the biggest shortage:

  1. Oral Communication
  2. People Management
  3. Time Management
  4. Public Policy
  5. Social Media
  6. Development Tools
  7. Web Development
  8. Problem Solving
  9. Writing
  10. Graphic Design

Improved communication and management skills are well represented on the list of needed skills. Being in the business of helping improve these in demand skills, it looks encouraging. It is striking to me that Oral Skills, People Management, and Time Management are high on the list.  It may suggest that the technology world has overwhelmed oral communications. Many people, and not just the younger generation, spend life looking at their mobile phones rather than people.

Watch people in elevators looking at their phones rather than interacting. Parents spend precious time at the dinner table checking text messages or social media accounts. Maybe we all need to develop the most in-demand skills identified by LinkedIn.

Pay Attention

Assuming these are important skills today whether you are looking for a job or to improve performance in the job you have … there is good news.  All three of these involve paying attention and keeping perspective.

There is a particular and unique opportunity for effective oral communication both in speaking and listening. It engages the emotions in a productive way that text messages or email cannot duplicate. It is particularly true in people management. Time management is an age-old challenge made even worse by the continual barrage of messages trying to capture your attention.

It may require choosing to be calmer and more thoughtful at certain times.

 

 

CEO Peer Review

June 5, 2017 By Tom Mungavan Leave a Comment

500Logo_2016The new Fortune 500 list will be released June 7th.  Interestingly, Fortune asks the Fortune 500 CEOs whom they most admire. This year, on top of the list is Jeff Bezos (Amazon); next was Jamie Dimon (JP Moran); and Bob Iger (Disney) and Warren Buffett (Berkshire Hathaway) tied for third.

We have worked with 39 of the Fortune 500  companies on the list for this year. When customers like Medtronic fall off the list,  our count of Fortune 500 companies falls. We have added a couple of new Fortune 500 companies this year, so it will be interesting to see what our new count will be.

Twilight of the Rock Gods

April 11, 2017 By Tom Mungavan Leave a Comment

Eighty-eight of last year’s top 100-grossing tours were music acts. According to the Wall Street Journal, 45 were led by musicians over 50. Compare 2016’s top performers by ticket price, number of shows played and more. That may help explain our earlier blog, $31,000 Per Month in Tips.

Aging Rock stars totals

How Old Are You?

March 10, 2017 By Tom Mungavan Leave a Comment

When my father was 60, he referred to himself as being “middle-aged”. His friend asked him, “How many people do you know who are 120?”

A Life Well Lived

conductor-stanislaw-skrowaczewskiMinnesota Orchestra Conductor Laureate Stanislaw Skrowaczewski was born in Poland 93 years ago. He started playing piano at age 4. He loved playing music until he was injured by a bomb during World War II. He became a conductor in Warsaw and Cleveland before he took over the Minneapolis Symphony in 1960.  A few months ago we heard him conduct the Minnesota Orchestra with such gusto that it was hard to believe he was 93 years-old.  His love for the music was clear. One non-stop performance was 80 minutes long without using the written score. Last year he conducted in over a dozen countries.  So how old was Skrowaczewski? Sadly, he died last month. He fully lived all of his 93 years.

Being Engaged in Life

There are numerous studies that all point to being engaged in something you find worthwhile (for pay or not) significantly improves our happiness and our health. I feel blessed to feel that way about what I do. Most of my “work” gives me energy, even though I am well past what many think is retirement age.  See my blog Build your Return on Life (ROL) from 2014 about Mitch Anthony’s book “The New Retirementality” that challenges the concept of a retirement age as a leftover concept from the Industrial Revolution.

How Old Should I Feel?

I do not advocate that people should not retire because I have not done so. There are many people who have sacrificed enormously to build their career and feed their families. They have traveled extensively, or in other ways, sacrificed family time to do work that is not all that satisfying any more.  Finding a way to remove from your life what is draining and add things that are nourishing is a wonderful endeavor. I know many who have focused on their grandchildren to recapture what they lost with their own children’s growing years. That is a fabulous opportunity to recover. Others have found the artist inside them during their retirement, like President George W. Bush.

young man looking at an older himself in the mirrorMy misconception of how a grandfather should feel is very apparent to me.  Looking at the photo of the man looking in the mirror pretty well captures the gap. I feel like the younger man, and the mirror reflects an older man. I expected to feel like the older man in my 70’s, but I don’t… most of the time.

I know many who think their 60’s and 70’s are the best years of their lives. Maybe the 80’s too …. I just have not asked enough people in their 80’s.  That was not my expectation when I was in my 30’s. That was not how I saw my grandfather in his 70’s.

Should We Allow More People to Work Longer?

Many would say, “Not on your life!” and others would find community, contribution and maybe purpose, if they were able to continue to work.  Warren Buffet continues to make good investments in his 80’s. The Supreme Court is filled with senior citizens.  Many cultures honor the wisdom of age more than the US culture.

There are definitely limitations brought on by aging.  There are also strengths that build with continued age.  I was blessed with a grandmother who was young at heart and willing to share honest wisdom such as, “Those who talk about the ‘good old days’ have bad memories. It was not all good.”

The companies who can overcome unfounded age discrimination and also make adjustments, where appropriate, to work rules will have a competitive advantage in many industries.

 

 

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