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Autumn 2010

A note from the author

Transforming Transitions is celebrating its first birthday and I must take this opportunity to thank all of my supporters (family, friends, clients, peers, mentors, and service providers) for contributing to this effort.   Starting a business, and seeing its way to success, is quite a challenge.  The importance of help and support from many different sources is so valuable … so thanks again!

As I continue to help people make their next chapters their best chapters, whether we are talking about finding employment, changing careers, or changing the relationship with work altogether (i.e. planning for that chapter formerly known as retirement, and what I will now refer to as repurposing), I am amazed at how much impact one can have by 1) understanding what he/she brings to the table in terms of unique strengths and special skills, and 2) taking the time to create and consider a few alternatives to leverage those strengths and skills.  In every situation, it has generated confidence and hope, two elements that are critical to successfully navigating through transition.  My work puts me in a position to help people make those discoveries and connections every day – how fortunate I am to play that role!

The Outlook

Now let’s take a look at the reality of the current situation.  I don’t think I need to remind anyone that our nation’s recovery continues at an agonizingly slow pace, and has driven consumer confidence to decline in recent months (according to The Conference Board, a NY based not-for-profit membership organization that collects and reports economic data).  To again quote Lynn Franco, Director of The Conference Board Consumer Research Center, “September’s pull-back in confidence was due to less than favorable business and labor market conditions, coupled with a more pessimistic short-term outlook.  Overall, consumers’ confidence on the state of the economy remains quite grim.  And, with so few expecting conditions to improve in the near term, the pace of economic growth is not likely to pick up in the coming months.”

So the question is, what will it take to turn consumer confidence around?  For me, it would mean seeing our unemployed folks get jobs, and seeing our employed folks remain employed, assuming they wish to be employed.  Let’s take a look at the unemployment rates based on the most current data available as of this writing (Bureau of Labor Statistics released September 21, 2010).  At the national level, unemployment was 9.6% at the end of August, a very slight improvement from my last newsletter, and from last year (at which time the rate was 9.7%).  By state, the highest unemployment rate was in Nevada (at 14.4% - worse than its July rate of 14.3%), followed by Michigan (13.1%) and California (12.4%).  Lowest unemployment rates were found in North Dakota (3.7%), followed by South Dakota (4.5%), and Nebraska (4.6%).  When looking just at month-to-month changes, only two states reported statistically significant increases in unemployment from July to August (both Florida and Maryland increased their unemployment rates by .2%, to 11.7% and 7.3% respectively).  Providing a bit of a balance, only two states reported significantly significant decreases in unemployment during that same time period (Mississippi and Alabama decreased their rates of unemployment by .8% and .5%, to 10% and 9.2%, respectively).

All other states remained essentially the same month-to-month.  No dramatic trends.  While the news is certainly better than dramatic increases in unemployment, the pace of change (albeit positive) is frustrating.

So what comes first – the chicken or the egg?  The increased consumer confidence or the reduction in unemployment?  It’s a cycle - consumer confidence drives demand for products and services, which impacts business productivity and profitability, which results in growth and job creation, which then spurs consumer confidence, and so on.  Let’s get that cycle going!!

Health Care Reform

While all parts of health care reform are not directly tied to transition, certain sections of the act will be relevant.  I have decided to include overall highlights as a regular part of my newsletter so that readers may continue to be informed on this important topic.
 Implementation of certain parts of the Health Care Reform Act (formally known as the Patient Protection and Affordable Care Act) have taken place over the recent months, with 9/23/10 – 6 months after passage of the Act - being a key date.  Some of the most notable are:

• Extension of dependent coverage for adult children up to age 26 for all individual and group health policies (plan or policy years beginning on or after 9/23/10).
• Prohibition of individual and group health plans from placing lifetime limits on the dollar value of coverage, rescinding coverage except in cases of fraud, and from denying children coverage based on pre-existing medical conditions. (plan or policy years beginning on or after 9/23/10).
• Requirement of new health plans to provide - at a minimum – coverage without cost sharing for certain preventive services, recommended immunizations, and screenings (plan or policy years beginning on or after 9/23/10).
• Rebates of $250 to each Medicare participant who reaches the Part D coverage gap.
• For a more comprehensive listing, please see the attached link: http://healthreform.kff.org/timeline.aspx

There are many more items scheduled for implementation over the next eight years, although a change in administration could certainly have an impact on those items.  It will be interesting to see how it all works out.

Career Transition

With all the talk of unemployment, I thought it would be fitting to include a section on career transition in this edition of the newsletter.  During times of high unemployment, those who have jobs often think – or are reminded by someone – that they are “lucky to at least have a job in this environment.”  And while, at some level this is true, it often paralyzes those who are unhappy in their jobs to consider making any type of change.  They are often to resigned to this “at least I have a job” mentality, and feel trapped in work situations that are not meeting their needs.

Here are a few recommendations if you fall into that category:

1. While you may not be ready to take action at this point in time, there is no reason you cannot put a plan together to move forward when the timing is right.
2. Start by evaluating what you bring to the table in terms of special skills and talents.  Think back to the positions/situations in the past that you have enjoyed and have achieved success.  What specifically did you contribute to the situation that made it successful, and how can you leverage those same special skills and talents in your future?  This is an incredibly important step and should be completed before you just start chasing different opportunities.
3. Then think through the specifics of what type of industry, business sector, discipline, positions/job titles, and work cultures in which you would like to work.
4. Location, location, location – do you want to stay in the same geographic location in which you currently live and work, or not?  This is a critical element in your decision-making process, so you really need to be clear about this before you get ready to launch your search.
5. Once you have decided what you want to do, with what type of organization, and where you want to be, you will be ready to put a plan together to make it happen … and that’s another article in itself!

Healthy Aging

Much of my focus over the last few months has been on the topic of healthy aging.  The reason – when I inform people about the reality that most of us will likely live well beyond our eighties, the reactions are quite dramatic … in a negative way.  The reason -  we all have pictures in our minds of people who have lived long lives, but have ended up living the last several years of life in very difficult situations, mostly related to their health in their later years.  I set out to change that picture!

There is a term called compressed morbidity.  This means reducing the amount of time that one is very sick and suffering to the shortest amount of time possible.  In the context of this article, it means living disease- and illness-free for as long as possible, and when the time comes, suffering is minimal and the time frame short.

Studies have actually proven that morbidity (the presence or rate of disease) can be reduced or postponed with healthier lifestyles, over which we have complete control

Rather than take up space in this newsletter, please link over to my blog to read the rest: http://transformingtransitions.com/blog/?cat=4 

For further information or assistance on any of your transition needs, please contact Transforming Transitions, at info@transformingtransitions.com.

Previous Issues: April/May 2010 February 2010 February 2010 December 2009 November 2009