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More Jobs Available Than People Unemployed

8/6/2018

 
You read that right.  For the first time in decades there are more jobs available than the actual number of people that are on unemployment. As of July 2018  there are 6.3 million people in the US on unemployed, the equivalent of 3.9%.

​Axios
, an online media company, shared yesterday we’ve officially crossed the barrier of more jobs available than people suitable or ready to fill them.  Our economy also continues to boom as we’re in the longest job growth period on record, now 94 straight months.  
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How can this be?  If the economy is doing so well and there are so many jobs available why is it we still have so many people unemployed and why aren’t those which are unemployed taking the available jobs?
ANSWER: The American workforce is changing, changing in TWO BIG WAYS:
 
1. Sedentary Lifestyle: we’ve become a society of professional sitters.  The average person now sits, yes – sits on their keister, upwards of 51 hours and 44 minutes a week. It’s such a dramatic change in our society and workforce that some are now calling ‘sitting’ the new cigarettes.  We’ll leave the health aspect of sitting to another article.

For younger generations this lifestyle is their only perspective on working and it’s beginning to have a significant impact on our economy as it’s changing the jobs they’re taking, or willing to consider.  Jobs which are considered physically or mentally demanding aren’t at the top of the pecking order and those industries are having an incredibly difficult time getting new blood to join the ranks. (construction; farming; trucking; skilled trades like plumbers, electricians, mechanics; emergency services; law enforcement, etc.)

The change to a seated society tells us something else.  As a society we are moving away from a ‘do-it-yourself hands on’ society where we’re focused on production to a society of ‘creative typists’.  The new skilled trade is programming, not plumbing. 

Today’s emerging workforce wants to be close to technology and feel good movements while being free of work which may be construed as physically or mentally taxing.   Getting your hands dirty on the job is out, sitting inside with the AC and nap-pods is in!
 
2. The Skill-less Unemployable: No one likes to think that there are people out there which don’t have skills or aren’t employable, it’s un-American.  Yet it is becoming an increasingly frightening reality.  The second reason our workforce is changing is there are a growing number of unemployed workers that are finding themselves unable to take advantage of the volume of job opportunities on the market due to their skills or abilities becoming out dated.  Out of date just like the baloney sandwich my mom used to make for my lunch in grade school.

No one eats baloney sandwiches anymore, so if you didn’t adjust your skills with the growing times, moving to turkey or tofu, you got left behind.  And left behind without even realizing it, holding a moldy, crappy sandwich (your skills) in the process.

Those who are unemployed at present are largely in part just not employable.  Of course, there is always the exception to this rule however the growing majority of people who are unemployed just don’t have current day marketable skills to function in an environment which increasingly demands technology proficiencies.  With national unemployment rates under 4% it tells us that those who can work are working and those who can’t – well they’ll continue to experience hardships trying to find jobs in a marketplace that is increasingly unforgiving and more expecting of people’s capabilities.
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As a result, the gap continues to widen whereas those who have been unemployed for some time trying to find work will continue to experience much of the same.  The stigma attached to unemployment, the longer you’ve been out of work the more likely it is you will remain out of work, is a harsh reality for those unemployed.  With so much opportunity to be had in the marketplace people who are unemployed for longer than a month or so find themselves having to develop colorful explanations as to why they weren’t working to hopefully appease prospective employers.

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Successfully Navigating Your Career Just Got Easier

1/20/2018

 
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How do you know the decisions you make for your career are the right ones to make?

​On February 20th DeviceAlliance and UCI’s Division of Continuing Education will take aim at the in’s and out’s we face throughout our careers in an event called ‘Medical Device Career Navigation’.
While we are all very different as people in our behaviors and our mindsets it’s remarkable how those differences bond us in similarity.

Many of us will experience the same decisions throughout our career.  Do we take the money or the training?  Prestigious titles versus meaningful work?  Take a step back to hopefully take two forward.  Be my own boss or work for someone else?  Stay the path of employee or seek opportunities in management? Or even leaving a career to begin anew.

The answers to these questions are never easy yet we are all faced them!  In this, a powerful opportunity exists - learning from those who have been there before.

On the 20th of February in Irvine, CA the event ‘Medical Device Career Navigation’ will embark on a journey through the entire life cycle of a career from college graduate to retirement, and everything in between.  Attendees will hear from experienced professionals who represent three career segments:
  1. Recent grad/ early stage professional,
  2. Corporate life, and
  3. Entrepreneurship/ consulting
 
EVENT SPEAKERS
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​As we work our way through each career segment we will hear and learn first hand from professionals who have been there and done it before.  We’ll discover the lessons they learned, decisions they made and outcomes they experienced along the way.  We’ll learn from their stories and have opportunities to inquire about our own situations to collect feedback and direction.

During this event we will also discuss structured processes for decision making, like ACIP.  ACIP, or Alternatives, Consequences, Information and Plans, is a process for collecting information and understanding our options BEFORE we make a decision. 

Utilizing processes like ACIP and others which are similar can help improve your decision making process.  Combine that with experienced anecdotes from people who have done it themselves and we have a recipe for improving our chances of making the best decisions for ourselves while reducing regret or heartache along the way.

Save the Date: Be sure to join DeviceAlliance and UCI’s Division of Continuing Education on February 20th, 2018 at 5:30PM for an evening of learning and discussion on ‘Medical Device Career Navigation’.  Event details and RSVP click HERE.
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Why Recent Grads Are Struggling in the Work Place

9/6/2016

 
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Last week a friend and I had an interesting conversation over dinner having to do with hiring new grads from college.  The two of us agreed that we have seen a rise over recent years with the number of people coming out of college ill-prepared for the working world.  But why?

We discussed the disparity that exists with some new grads and their ability to actually put their years of scholastic achievement to work in the real world.  Regardless of their GPA many of them struggle and it has employers concerned, especially in the engineering world.

This is where our conversation hit a crucial point and where the rubber meets the road for our recent college graduates: theory versus application.

In academia theory is served up on a silver platter.  Students learn by lecture, book and lab.  They learn the ideal setting and framework of hundreds of concepts.  What they learn is ‘HOW’ something works, where it comes from and should you need to replicate it follow these guidelines, etc.  Kind of like a recipe for baking a cake.  Follow these instructions and the result will be a nice red velvet cake.  My favorite!

Unfortunately what we get a lot of times after the supposed recipe has been followed by new grads is not red velvet cake at all.  It’s a pile of crap that doesn’t remotely resemble a cake nor is it edible.  Simply being able to follow a recipe, or recite a definition for that matter, does not mean you truly understand the concept which can be a really rude awakening for a newly hired recent graduate in the working world.  Our recent engineering grads may be able to tell us the definition of Ohms Law, reciting it verbatim however they struggle to actually use that same theory in practice in the working world when it actually counts.

What academia fails to accomplish is teaching and engraining in its students heads the ‘WHY’ part of the recipe, not just the ‘How’.  Learning the ‘WHY’ behind a concept provides us with a larger frame of understanding rather than just surface level information.  This articulates the important difference between information and knowledge. (information = theory whereas knowledge = application)  When we know why something exists we can better apply said concept to real world settings and or make suitable adjustments when things go array.  The ‘WHY’ piece also addresses creativity.  When we’re confronted with an issue or challenge in the working world there’s no professor or recipe to help keep us on track. No directions that say ‘substitute this for that if this happens’.  One has to be able to draw on their creative juices AND theory to come up with possible solutions.

Why do recent grads struggle with applying their education in the workplace?

My humble opinion falls on two primary contributors:
  1. Academia: Our current academic system creates a worker profile that is more zombie than ‘imagineer’.  When we grow up in a system that indoctrinates our youth with the credo ‘do what I tell you to do’ rather than ‘question for the sake of understanding and discovery’ we create a mindset that simply follows directions rather than uses a creative process to dissect, understand and implement.
  2. New Grad Ego: New grads need to take more responsibility for what they bring to the table.  You may have an impressive GPA and or went to the best school but that doesn’t automatically mean you’ll be the best of the best in the work place. The people that eventually have the most successful long term careers have an initiative and willingness to go beyond expectation because they know that’s what is needed to succeed, not because they were told to do so.

Don’t worry employers.  Fret not new grads, we can fix this challenge so that everyone comes out on top.

​How can we change this to help our new grads?
  1. Internships.  Soon to be college graduates should be required to take on an internship or co-op in their field of study as a requirement for graduation, for all disciplines.  While this won’t fix the issue completely it will provide crucial hands on experience in the real world which will benefit students and employers immensely.
  2. Graduate Mentor.  We should encourage new grads to obtain a mentor in the field of their designated career.  Mentors provide incredible insight and information which would be incredibly helpful to a new grad looking to make their mark on the working world.

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Cause & Effect – Is Medical Device Struggling to Attract Younger Generations?

7/25/2016

 
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​Last week I had the honor of moderating a speaking engagement put on by Device Alliance in Irvine, CA.  If you aren’t familiar with Device Alliance (DA) it’s a Medical Device industry association whose primary focus is providing a supportive platform for the continued knowledge development and relationship building within the medical device industry in SoCal.

The purpose of the event on July 20th was simple – to have an informative discussion on ‘Changing Workforce Dynamics’ surrounding these three topics:
  1. Generational Differences
  2. Employee Engagement (and motivation)
  3. Our Changing Workplace
I’ll admit, I may have burned out my DVR from watching CNN’s broadcast of the political debates over and over again hoping to pull some nuggets of knowledge from how the moderators handled themselves in preparation for the DA event.  Thankfully we were also joined by a top notch panel who brought a wide spectrum of experiences and insights to the discussion: Mark Murphy (former device CEO and CEO Advisor and Chair of Vistage), Jan Slater (founder of Career Connection.Me) and Pete Nalbach (Director of Engineering with Sea Spine).
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As we got into the meat of the content for the evening I started to pick up on a topic that seemed like it was trending in a fair amount of our conversation. 

Is the Medical Device industry attracting younger generations at the rate it should?
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There seemed to be a fair amount of dialogue and a bit of concern from some people present at the event addressing a discrepancy within the industry as it seemed that new grads weren’t flocking to medical devices like they once had.  I can’t substantiate this claim to say ‘yes’ it’s happening, or ‘no’ it isn’t, however it’s a powerful topic to discuss because it’s a potential challenge we face in the near term if in fact it is true.

So let’s hypothesize for a moment:  If new talent, in particular younger generations, are not entering the medical device industry like they used too, what are the potential cause and effects we’re faced with?

CAUSES:

  1. Cause: Boomers aren’t retiring on time (Boomers reach the age of retirement at 10,000 a day and it’s a fact that they are waiting longer to retire which has a domino effect on jobs; perhaps this is the reason there isn’t a lot of new opportunities in the industry because those who would normally be retiring aren’t and they’re keeping jobs that otherwise would have been transitioned to provide new opportunities)
  2. Cause: The Device industry tends to be fairly incestuous.  What I mean by that is it can be very hard to get into the business if you don’t already have experience.  I talk with people all the time in other industries (Aerospace, Industrial Manufacturing, Contract OEM) who say it’s “mission impossible getting into the Device industry because when companies are hiring they are always looking for prior experience with medical devices”. 
  3. Cause: Are younger generations are attracted to high tech businesses rather than manufacturing?  Technology is ever changing and drives much of how our workforce operates.  New grads are often lured towards industries that are cutting edge offering cool, hip, flexible work environments that mirror the Silicon Valley feel.  While I fully believe medical device offers that (cutting edge tech, great places to work, feel good about what you’re contributing to mankind, etc.) perhaps we aren’t doing a great job articulating that to new grads therefore they’re chasing other opportunities.  Again, unsubstantiated at this point.
  4. Cause: Is the Device industry growing in comparison to other tech industries which may be drawing young talent away?  Medical Device is slated to grow 6.1% through 2017.

EFFECT:

  1. Effect: if Boomers aren’t retiring and taking the place for others we may experience a sizable talent gap in a couple years.  If Boomers were to actually flip the switch and exit out of their careers in large numbers the Device industry could experience a real bottleneck as a result of a flood of employees retiring.
  2. Effect: what do we do about legacy information/ tribal knowledge?  Let’s face it, those who have been around for a while know how to get things done.  It isn’t realistic to think that every little nuance of how to develop a product or manufacture it is documented to such a degree that a new person can come in and pick up where the work was left off without some sort of knowledge transfer hand off.  If I was the owner of a medical device company I would be highly concerned about what data is collected and how it is stored to ensure all that legacy information doesn’t walk out the door as my Boomers retire.
  3. Effect: One of the biggest barriers to entry in the device business is having prior device experience.  Companies are going to have to wise up, and do so quickly, if they want to bring in the best talent.  Just because someone comes from another industry doesn’t mean they don’t have the chops to make it work in Device.  I happen to be of the notion that a team with varying backgrounds and experiences is the best as it fosters creative ideas and perspectives.  If companies continue to make hiring decisions largely based off prior device experience they risk losing traction in the industry against competitors who have decided they want the best of the best, first and foremost, they’ll train competency after the fact.
  4. Effect: The growth of the medical device industry at a proposed 6.1% seems good in comparison to our GDP which is 1.1%, point in time.  When comparing to other industries (such as 3-D printing, drones, virtual reality, artificial intelligence, food e-commerce, wind energy and green building; to name a few) our beloved device industry takes a back seat by a fair margin.  As a result when device isn’t one of the front leading growth industries is reduces the amount of growth potential companies experience which further lessens the amount of jobs available.

Is the Medical Device industry attracting younger generations?  What are you thoughts? Agree or disagree?  
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How To Land Your First Job Out Of College

5/20/2016

 
Graduating from college is a great life accomplishment.  You’ve worked hard for years and now have the chance to finally put your knowledge to the test along with your wonderful self out there for the professional world to enjoy. 
As the college parties and farewells subside new college grads inevitably come face to face with a sobering reality...
...the fact that finding their first career job isn’t easy!Ideally, students should start focusing on their careers and entrance into their industry of choosing in their junior year of college, but more than likely you’ve waited till the very last day of school to think about it.  Regardless of the situation you are in as you start to look for work it’s important to head into the process of finding a job armed with the right mental attitude and a winning game plan.
Before you start looking for a new job it’s important to understand how these common new grad thought processes below can hurt your chances of landing a job:
  1. $80k out the gates (sure, there are the top 1% that will actually get a salary of $80k or higher, for the rest of new grads consider yourself lucky if you make more than $55k in your first year at work; in fact NACE which tracks national data on volumes of economic data points shared that graduates of the 2015 class experienced on average a first year salary of $50,651.)
  2. Why I need more money (I’ve heard this more than a dozen times when a new grad explains to me that the reason they are looking for ‘X’ salary (a higher salary than what the market dictates for an entry level job) is because they have to pay off student loans; I hate to break it to you but companies aren’t on the hook for paying off your student loans or compensating you more just because you have bills)
  3. What is taught in school is the same in the work place (while school is good for many things, such as learning theoretical knowledge and discipline, often times the academic environment falls short on giving students a real dose of what life is like in the professional workplace; the main issue here is that theoretical knowledge doesn’t necessarily translate into application; in the working world if you can’t apply what you know or have learned than you are about as useful as a Ferrari without a steering wheel)
  4. Employers will hire me for my education (it’s not completely a myth, however the majority of the time companies hire new grads based on the persons culture fit, personality, grit, polished professionalism, energy, creativity, potential, etc.; many companies employ a hiring method referred to as ‘character over competency’)
  5. Masters’ degrees give you a leg up (if you are graduating with a Masters’ degree and you have no work experience well then you’re starting off from the same spot everyone else is, just often times you expect more money because of your advanced education; be careful here, a Masters’ degree doesn’t necessarily make you better initially in your career, however having an advanced degree years down the road will certainly bode well for you in most careers)


Now that you’ve got a good head on your shoulders and understand a bit more of how the professional workplace functions you’ll need to do the following:
  1. Spend time researching different industries (if you graduated college and already know what industry you want to work in than you’re one step ahead of the game; when researching remember that it is just as valuable if during your efforts you learn about a career or industry that you would absolutely never want to do – you can then strike that off your list and move on to better suited opportunities)
  2. Have a better than average resume (your resume is a written bio of who you are, if it is sloppy in formatting, has spelling or grammar mistakes than rest assure the people on the other end who are reading it are either passing you up or making poor assumptions on your behalf; take the necessary time to build a great resume and have it proofed by at least two people who are professionals in the field you want to get into)
  3. Network with people in your field before you graduate (please don’t graduate from school and think you’re going to land the sweetest gig ever without doing work ahead of time, that’s foolhardy; the best way to accomplish landing a great job is by spending time with people in the industry beforehand so you can build relationships and get to know how things work in your local area)
  4. Go to as many career fairs as possible (it’s another way of networking but you’re also speaking with companies that are hiring which will give you the chance to work on your interviewing skills – which hopefully will lead to you landing that coveted job; also make sure you go to your schools career center to see what help they can lend)
  5. Get an internship or co-op (this is by far the best thing you can do for yourself to land a good job; companies use internships to allow new grads to come in and learn a skill while also giving the company a chance to check out the freshest talent in the market; don’t be fooled, even if they tell you the internship isn’t designed to become a full time job you should still treat it like it as such)
  6. Build a relationship with a recruiter (finding a recruiter who specializes in your field is a great way to add additional fire power to your job search as they know which companies are hiring, which companies are worth working for and can often assist you through the interview process)
  7. Practice Interviewing (it doesn’t matter if you practice in front of a mirror or with your best friend, spending time practicing your answers to typical interview questions, along with body language and other mannerisms)
Landing your first job out of school is a matter of constant focus and discipline.  Take the time to prepare and make sure every interaction you have with someone in your field of work leaves that person thinking “I need her on my team!”
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    About the Author

    Travis Smith is the founder and managing director of Square-1 Engineering, a medical device consulting firm, providing end to end engineering and compliance services.  He successfully served the life sciences marketplace in SoCal for over 15 years and has been recognized as a ‘40 Under 40’ honoree by the Greater Irvine Chamber of Commerce as a top leader in Orange County, CA.

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