Careers Archives - Hanover Mortgages

September 13, 2021

Dying Careers You May Want to Steer Clear Of

No one has a crystal ball, but we are in a time of great change, and we want our skills to be relevant and needed moving forward. And just as important, we want our kids and grandkids to have happy and fulfilling jobs. Which brings us to an important question: What jobs are likely to disappear or become obsolete over the next decade or so?

Jobs That Disappeared

If you were a carriage maker in the 1900s, it would be a hard conversation to have with your kids who came home to tell you about this new machine that was invented, the automobile. You may have said, “It’s a fad. It’s noisy, it breaks down, it goes slow, it gets stuck in the mud and manure, it’s expensive … it will never replace the horse and buggy.”

Can you imagine when people first saw the airplane? It may have been impossible to think that it would change the way people moved across the ocean.

Or, remember when you saw the first cordless phone, and it looked like a shoe box? Did you ever think that your trusted home phone could be replaced by a cellphone?

You get the point. What I want to highlight is that all of these new ways of doing things greatly impacted the jobs and people who worked in these soon-to-be obsolete industries. Think of all of the farriers (horseshoers) who lost their jobs as the car took over the world of local transportation. Think of the cruise ship owners and workers who were replaced by the advent of air travel. And we know how the world of the internet exploded the world of personal and business communication. If you are not knowledgeable about computer technology, you may not have a seat at the new worktable.

What Industries Will Become Obsolete in the Future?

I want to put a disclaimer on this list. No one knows for sure which professions will or will not exist or how they will morph into new incantations of themselves. Here are some that I have been thinking about:

Real Estate Agent: The old days of having a person pick out a home for you to tour are swiftly slipping away. There are so many sites to help you choose the location, school system, amenities, etc. of a new home, that real estate agents are starting to disappear. As the final stages of where you want to live come closer, you may want the help of a real person, but the fees they charge are coming under pressure as their value diminishes.
Truck/Taxi Driver: Driverless technology is advancing quickly. It’s estimated that roughly 33 million autonomous vehicles will be on the road by 2040.
Doctor: This is controversial, because so many people want to be taken care of by a live person. The pandemic ushered in the transition to telehealth. I believe that we are about to witness another revolution. No one doctor has all of the knowledge to diagnose a patient, and they do not have all of the historical data and possible treatments at their fingertips. As soon as global medical data becomes available, the computer can diagnose, research DNA, and set about a cure for the vast majority of people. Today, not all medical data is shared.
Librarian: It pains me, but gone will be the days of researching or reading in a library. The digital library is at everyone’s fingertips.
Cashier: In the old days, there had to be a person to check you out, take your money and give you change or charge your credit card. We are rapidly moving into becoming a cashless society. Gone will be the need to even learn the life skill of making change; our computers will perform all of the banking needs we have. Amazon, through its Amazon Go brick-and-mortar stores, is experimenting with a new checkout system. You scan an Amazon Go app at a turnstile when you enter and just exit without checking out when you leave.
Delivery Driver/Mail Carrier: As drones get more sophisticated, there will not be a need for humans to deliver packages and mail. Much of your junk mail has already been converted into junk email. Even Social Security has abandoned physical checks, and many utility companies are moving in that direction with their billing, too.
Bank Worker: Banks are going to physically downsize, as much of our monetary transactions are done digitally. Bank branches will begin to close as online banking increases. Millennials are also using digital solutions for their investing needs. The fin tech world is exploding with new mobile investing devices, as well. As people become more comfortable with investing digitally, it will mean there will be fewer and fewer live financial advisers and bank personal.
Sports Referee/Umpire: Even soccer’s governing body, FIFA is relenting to pressure to introduce more technology into the game with video assistant referees. Many other sports, such as tennis, also have been using technology to make real-time decisions.
Fishers: We have overfished our waters in many places, and global warming is negatively impacting remaining species of fish. If we are to eat fish in the future, it will most likely be farm raised. The typical fisher will no longer be able to go out and fish.
Lawyer/Legal Secretary: Deloitte has indicated that over the next 20 years, 114,000 legal jobs could be automated. It is similar to the medical profession. Our digital world can instantaneously provide case history and feed your data into a system to find your legal solutions. The documentation could also be filed electronically.
Factory Workers: Automation is already interrupting these professions. It is estimated that there will be shrinkage of over 204,000 jobs by 2029.
Travel Agent: Before the internet, it was really great to talk to a live person who could help you cobble together your whole vacation. That professional could get you the best hotel and accommodations at the best rates. Today, there are many easy-to-use websites and apps that can help you research and book every part of your vacation. Employment for travel agents is expected to fall 26% from 2019 to 2029.

Don’t Be Bummed, Be Inspired

My goal was not to depress you if you or your loved ones are in any of these industries. It is just to get you thinking about the future so that you can be on the forefront of the new world with new job opportunities.

This can make for great dinner conversation with your kids. Ask them what they see in the future and what jobs will disappear and what others will be created. Part of being a parent is to help our kids to be resilient to change.

Remember the words of Albert Einstein; “The measure of intelligence is the ability to change.”

This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

President & CEO, Children’s Financial Network Inc.

Neale Godfrey is a New York Times #1 best-selling author of 27 books, which empower families (and their kids and grandkids) to take charge of their financial lives. Godfrey started her journey with The Chase Manhattan Bank, joining as one of the first female executives, and later became president of The First Women’s Bank and founder of The First Children’s Bank. Neale pioneered the topic of “kids and money,” which took off after her 13 appearances on “The Oprah Winfrey Show.” www.nealegodfrey.com

Source: kiplinger.com

August 27, 2021

27 Motivational Career Podcasts for 2021

Whether you’re currently in the process of looking for a job, transitioning into a new career field, or starting your own business to achieve financial freedom, you can gain inspiration from listening to motivational career podcasts. One major perk of podcasts is how convenient and time-efficient they are, since you can listen to them during your lunch break or commute to work.

Feeling stuck in your career and need some inspiration? Skip ahead to the infographic for career podcasts to spark your creativity, gain useful career tips, and boost your motivation.

Career Podcasts for Millennials

Being a young adult in the career field can be intimidating, especially if you’ve just graduated college or trade school. Here are some resourceful career podcasts for millennials to help you navigate the real world.

1. My Millennial Career

In the My Millennial Career podcast, hosts Emily Bowen and Shelley Johnson explore the world of working life. The podcast covers everything from toxic work culture and negotiating a higher pay, to finding jobs as a new grad and acing interviews. This resourceful and educational podcast is a great listen for young professionals trying to navigate the career world.

Recommended Episode: The Secret to a Winning Cover Letter & LinkedIn Profile

2. Advice To My Younger Me

Sara Holtz, the host of Advice To My Younger Me, launched the podcast as a pay-it-forward project to help women and young professionals alike reach their highest potential. In each episode, Sara invites expert guests to discuss topics and provide advice on everything career-related, such as dealing with job loss or networking while working remotely.

Recommended Episode: Becoming the Boss of Your Career

3. The Tim Ferriss Show

As one of the first podcasts to surpass 100 million downloads, The Tim Ferriss Show is without a doubt one of the most popular career and personal development podcasts on the internet. Though Tim covers a wide range of topics in his show, he often shares valuable career and life advice for professionals looking to better themselves. For example, how to cultivate success habits and how to design a better life.

Recommended Episode: Tony Robbins on Morning Routine, Peak Performance, and Mastering Money

4. Millennial Minded

In Millennial Minded, hosts Duncan Lowe and David Blackburn provide listeners with all the information needed to navigate the confusing yet exciting “real world” after college. Each week, Duncan and David sit down with Lee Caraher, the CEO of Millennial Minded, to discuss career topics that most students don’t learn in college, like how to actually land a job.

Recommended Episode: If You’re Interested in Getting the Most Out of Your Job…

5. How I Built This with Guy Raz

How I Built This podcast host Guy Raz talks to influential innovators, entrepreneurs, business owners, and idealists around the world, and dives deep into the story behind the empire or movement they’ve created. Over the years, the podcast has provided listeners with insightful stories behind businesses such as BuzzFeed, Ben & Jerry’s, Airbnb, Bumble, Spanx, and Southwest Airlines. How I Built This is a great source of inspiration for anyone looking to start their own business in the future.

Recommended Episode: Bumble: Whitney Wolfe

6. The GaryVee Audio Experience

The GaryVee Audio Experience podcast is hosted by entrepreneur, CEO, vlogger, and public speaker Gary Vaynerchuk. In this podcast, Gary shares everything about entrepreneurship, finding a career path, and how to become the best version of yourself. Apart from sit-down interviews, Gary also includes keynote speeches on marketing and business. For millennials looking to become an entrepreneur or start an alternative career path, consider listening to this podcast for daily inspiration.

Recommended Episode: The #1 Piece of Advice For Entrepreneurs To Achieve Success

7. Millennial

In the Millennial podcast, host Megan Tan explores the transition between college and work in real time, figuring out how to best navigate this confusing period of life. She discusses topics such as finding meaningful work and the pressure of making a high income. Besides her solo episodes, Megan also interviews her coworkers and friends to provide more perspectives on the experience of maneuvering your 20s after college.

Though this podcast is no longer producing new episodes, there are still gems in the archives to check out.

Recommended Episode: What’s Your Worth?

Motivational Career Change Podcasts

Are you currently job hunting or open to new opportunities? Here are some inspirational career change podcasts to help you manage the transition process.

1. The Job Search Boot Camp Show

In the Job Search Boot Camp Show, hosts Angela Loeb and Jay Markunas talk about career-related topics such as interviewing, salary negotiation, resumes, and much more. If you’re currently in the process of job hunting, give this podcast a listen. You’ll receive practical information and insider tips on how to job search more effectively and finally land that dream job.

Recommended Episode: Ready, Aim, Get Hired!

2. Career Relaunch

Career Relaunch is a motivational career podcast that guides you through the ups and downs of the job transition process. Host Joseph Liu has personally navigated through three major occupational changes in his life, and as a career consultant, he has plenty of experience helping others open a new chapter in their work lives.

Recommended Episode: Handling Setbacks with Aaron Leventhal

3. Happen To Your Career

Happen To Your Career is not just another career advice podcast — it’s a motivational podcast that will inspire you to find meaningful and fulfilling work in your life. It aims to transform your perspective on what it means to thrive at work, and to help you unlearn the misconceptions about having a career.

Recommended Episode: Figuring Out Your Perfect Career Match

4. The Meaning Movement

The Meaning Movement is a motivational podcast where host Dan Cumberland encourages you to explore your life passions and find a career path that excites and motivates you. Through the stories of experts and professionals that Dan invites to the podcast, you will find inspirations that will urge you to venture outside your comfort zone and explore the vast possibilities out there.

Recommended Episode: Let Your Intuition Guide You with Rick Snyder

5. Career Warrior Podcast

In Career Warrior, podcast host Chris Villanueva invites job-hunting experts and industry leaders to give advice on how to land your dream job and become the best professional you can be. In the short 10-to-30-minute episodes, Chris covers a wide range of job-related content, including topics relevant to entry-level job seekers as well as high-level executives. No matter which stage of your career you’re in, you can find helpful and inspiring content in the Career Warrior Podcast.

Recommended Episode: How to Build a Career You Love | Emily Moyer

6. Career Talk

Career Talk uses a humorous and playful approach to empower people to take control of their professional lives. In each 15-minute episode, host Stephanie Dennis discusses popular topics such as how to avoid burnout and salary negotiation. For those who are currently in the process of job hunting, Stephanie also provides helpful advice such as how to sell yourself in an interview.

Recommended Episode: How to Make a Career Change/Shift Without Starting Over

7. Repurpose Your Career

In Repurpose Your Career, host Marc Miller invites special guests and experts to explain their processes of making important life decisions and transitioning to a different career path. Since Marc has personally made over five occupation pivots over the course of his life, he provides valuable information in the podcast about how to create actionable plans and transition smoothly to a better career.

Recommended Episode: How to Create Your Career Story So That It Makes Sense

8. The Holistic Career Change Podcast

The Holistic Career Change Podcast is hosted by Vilma Usaite, a certified career coach helping people make smoother career transitions and find their dream jobs. In this podcast, Vilma not only provides advice on how to overcome hurdles and challenges in the career change process, but also dives deep into personal development-related topics such as discovering your true purpose in life.

Recommended Episode: Stages of Career Change

Inspirational Female Career Podcasts

Learn from influential businesswomen by listening to their stories and journeys to success. Here are seven female career podcasts you can gain inspiration from.

1. The Marie Forleo Podcast

Marie Forleo is an entrepreneur and New York Times bestselling author who also hosts a popular podcast that explores everything career, business, and personal development. In this show, Marie and her guests share actionable tips and strategies to help women around the world become the best version of themselves, including valuable advice on growing personal wealth, building a business, overcoming fear, and finding your true passion in life.

Recommended Episode: Want to Start a Business? How to Finally Make It Happen

2. Being Boss

If you’re feeling a bit stuck in your career and need motivation, Being Boss is the motivational podcast you need to cheer you up. In this podcast, host Emily Thompson invites many inspirational female entrepreneurs to share their stories and how they’ve built successful businesses. Through these interviews, you can gain inspiration for your own business ideas and discover new ways to build steady income streams.

Recommended Episode: 7 Habits of a Successful CEO

3. The Classy Career Girl Podcast

Hosted by Anna Runyan, the Classy Career Girl Podcast aims to help ambitious women and entrepreneurs achieve their business goals and do what they love. In this podcast, you can find a variety of training sessions, expert interviews, inspirational stories about entrepreneurship, and plenty of helpful advice. If you’re looking for career tips and inspiration from like-minded female entrepreneurs, this podcast is for you.

Recommended Episode: 3 Phases of Your Career and How to Succeed in Each Phase

4. Not Wonder Woman

Not Wonder Woman is a podcast where hosts Cyran and Mel give tips on how to become a successful businesswoman without needing superpowers. In one episode, Cyran and Mel explore the idea of juggling motherhood and a career, a dilemma many women face today. Through hearing other women’s relatable experiences in entrepreneurship and business, you can gain confidence and the motivation to advance your career.

Recommended Episode: How to Network; for Women Who Hate Networking

5. Side Hustle Pro

Nicaila Matthews Okome, host of Side Hustle Pro, is a side hustler who was eventually able to quit her 9-to-5 job and make a full-time income with her own business. In her podcast, she shares her personal entrepreneurial journey to inspire women like her to start their own side hustles and strive for the same level of success. Nicaila also invites other successful female entrepreneurs to contribute fresh perspectives on career and business topics.

Recommended Episode: No More Excuses, It’s Time to Act on Your Side Hustle Idea

6. The Goal Digger Podcast

Goal Digger adopts a new way of engaging with listeners by offering a live workshop-style podcast where listeners can follow along and actually take action to advance their careers. Podcast host Jenna Kutcher has a passion for encouraging women to chase after their dreams. She often shares actionable tips on how to manage online businesses, achieve financial freedom, and overcome limiting beliefs.

Recommended Episode: A Lesson in Unapologetic Decisions for Empowered Women

7. The Clever Girls Know Podcast

Looking to advance your career and build real financial wealth? The Clever Girls Know Podcast will teach you everything you need to know about leveling up your professional life and personal finances. In many episodes, host Bola Sokunbi interviews women in different fields about how they were able to pay off debt quickly while working a normal full-time job. Through these interviews, you can gain knowledge about ways to overcome financial obstacles and move one step closer to financial freedom.

Recommended Episode: How Losing Her Job Became the Catalyst for an Incredible Business with Marianne Ladapo

Informative Tech Career Podcasts

Planning to start a career in tech? Check out these tech podcasts to stay updated on all the industry news and gain knowledge about what your future job might entail.

1. CodeNewbie

This tech career podcast is suitable for those who are interested in coding and web development but don’t know exactly where to start. CodeNewbie features a variety of tech-related topics, but is mostly centered around interviews with successful coders and tech professionals. In each episode, you get to hear stories about how different experts established their professions in the tech and web development industry.

Recommended Episode: How to Not Let Imposter Syndrome Hold You Back

2. Breaking Into Startups

Breaking Into Startups is an inspirational podcast where each guest on the show shares powerful stories about how they successfully switched careers and broke into the tech industry. Past guests include Alexis Ohanian, Dan Rosensweig, and Gary Vaynerchuk. If you’re looking into switching to a career in tech or upskill in your current career, you can find plenty of inspiration and tactical advice to help you begin this transition.

Recommended Episode: Iris Nevins: Teacher Who Became a Software Engineer at Mailchimp

3. Developer Tea

Developer Tea is hosted by Jonathan Cutrell, who is also the director of engineering at PBS. In this podcast, listeners who are interested in engineering and development can learn about how to improve their technical competency as well as interpersonal skills.

Recommended Episode: 4 Things You Have to Leave Behind as a Beginning Engineer

4. Front End Happy Hour

Interested in working in front-end development? This podcast is for you. Front End Happy Hour features a panel of software engineers from renowned businesses such as Twitch and Netflix. In each episode, panelists explore topics about all things front-end development. If you’re currently in the process of upskilling yourself for a career in this particular field, Front End Happy Hour can be a great educational resource for you.

Recommended Episode: Career Growth – Beers and Careers

5. Ladybug Podcast

In a male-dominated industry like tech, it’s rare to have a woman’s perspective in the podcast space. The Ladybug Podcast is here to change that. Hosts Kelly, Ali, Emma, and Sidney are seasoned software developers who decided to start a podcast to represent women in tech. On the show, they talk about all things software development, including how to start coding and how to land your first developer job.

Recommended Episode: So You’ve Got a Job Offer, Now What?

Podcasts are a great way to absorb new information in accessible, bite-sized chunks, which is perfect for those who have busy schedules. No matter which field or circumstance you’re in, there is a career podcast out there for you. Don’t have a degree but want to achieve financial success? Podcasts such as The Tim Ferris Show and The GaryVee Audio Experience will motivate you to achieve your goals in unconventional and creative ways.

After listening to resourceful career tips and inspirational stories from entrepreneurs and business professionals, begin your own success journey by first learning how to manage money with the Mint app today. Having a stable financial life not only gives you a sense of security but will also make your career and entrepreneurial efforts much less stressful.

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Source: mint.intuit.com

August 26, 2021

What Is Upskilling? The Better Way to Advance Your Career

Change in life is constant, and the job landscape is no exception. After a year of major shifts and pivots for workplaces around the world, it’s become increasingly apparent that not only do industries need to be adaptable, but their people need to be too. Wondering how you can advance your career and propel your team into the workplace of the future? It’s time to learn about upskilling.

Keep reading to find out exactly what upskilling is, why it’s important, and all about the benefits it can bring (hello, increased earning potential). Follow our six-step guide to upskill yourself and your team. More of a visual learner? Skip ahead to the infographic to learn more.

Defining Upskilling

Upskilling is the process of using additional training or education to build upon and advance your current skills. It’s something that you can do for yourself, and it can also be provided to others.

Some examples of upskilling include taking a coding workshop to build on your programming knowledge or attending a virtual conference to learn about emerging industry trends. It’s good to note that upskilling is different from reskilling, which is when you learn new skills to do a different job.

Why Is Upskilling Important?

Technology evolves and advances industries at a fast pace. This can create a gap between the existing workforce’s skills and the skills that are now necessary to effectively execute their jobs. A report by the U.S. Chamber of Commerce Foundation found that 74 percent of hiring managers acknowledge that a skills gap currently exists in the workforce, and this lack of adequate skills is one of the biggest obstacles in hiring.

Upskilling presents one major solution to this labor problem. Large companies like Amazon and PwC have already invested in upskilling programs for their employees. By advancing the skills of current and future professionals, the skills gap can be bridged. Additionally, both employees and employers will benefit from less turnover, expanded growth opportunities, and increased work productivity and satisfaction. In summary, upskilling allows working individuals to take charge of their own career mobility and employers get top talent as well.

Benefits of Upskilling

Upskilling is important across all industries, but what does it do for you? Let’s discuss the benefits it can have for you, your career, and your wallet.

Get a Raise

Upskilling can empower you by giving you the leverage you need to ask for a raise. When you bring new skills to the table and can demonstrate that those new skills will benefit your company or organization, you may have a solid case to increase your salary or wage. Also, if you take on additional duties as a result of your updated skills, it’s only fair that your compensation reflects this growth in responsibilities.

Make a Career Change

Another benefit of upskilling is the ability to make a career change. Maybe your acquired skills will help you land the promotion or help you get a similar job at a new company. Just remember that when making a career change, you should think about what makes the most financial sense for you. It’s important to carefully consider new opportunities, and when possible, to line up a new job before quitting your old one.

Enhance Your Work Life

Have you ever felt tired or bored of going through the same motions at work? Learning a new skill can give you the opportunity to switch it up. Using new skills can benefit your work life by helping you feel more productive and satisfied at work, and it also helps to bolster your motivation and morale. Additionally, if you end up expanding your role because of your skills, this will add new responsibilities to break up any work life monotony.

Improve Yourself

Finally, upskilling helps you improve yourself. Much like it’s important to keep your body active, it’s beneficial to keep your mind active too. Mentally stimulating activities can help keep your memory and thinking sharp, and may even slow down the onset of dementia and Alzheimer’s. In addition, learning has the ability to add meaning to our lives and help us reach personal and professional fulfillment.

Areas to Up Your Skills and Earning Potential

The skills gap encompasses a lack of competencies in a variety of areas. These areas range from more technical STEM skills to soft skills. Learn about some of the major areas to upgrade your skills and how they can also up your earning potential.

Digital Upskilling

Digital upskilling is more necessary than ever as workplaces continue to operate remotely and through digital channels. Workers with digital skills earn an average of $20 more per hour than those who don’t have them. However, the National Skills Coalition found that about one in three U.S. workers had limited digital skills or lacked them completely. Level up your career and earning potential by learning new digital skills.

Digital skills:

Digital literacy
Programming
Web development
Software development
Information technology support
UX/UI design
Data visualization
Digital product management
Digital marketing
Social media

Analytics

Statisticians, information security analysts, data scientists, and research analysts are projected to be among the top 20 fastest growing occupations in the next decade. Not only are they among the fastest growing, but each occupation’s median salary was at least $84,000 or higher. Future-proof your career and salary by upskilling in analytics.

Analytic Skills:

Data science and analytics
Digital business analysis
Critical thinking
Mathematical modeling
Research
Problem-solving
Inductive and deductive reasoning

Soft Skills

While technical STEM skills are very in demand, job and wage growth are especially strong for candidates who possess a good balance of both hard and soft skills. Soft skills are skills that you use when interacting with others and when managing your own work.

A Harvard researcher found that jobs requiring high levels of social skills grew 12 percent while less social job opportunities dwindled. This finding is indicative of how industries are using automation to replace roles that require less social interaction. Prove that you’re more valuable than any robot or algorithm by honing your soft skills.

Check out examples of soft skills, as well as a list of the top ones desired by companies below:

Top Soft Skills Desired by Companies:

Creativity
Persuasion
Collaboration
Adaptability
Emotional intelligence

Other Soft Skills:

Communication
People skills
Positivity
Listening skills
Social skills
Curiosity

Leadership

Leadership is a skill that is valued in management positions and is necessary both in times of success and times of crisis. Employers often look for instances of leadership in work experience or extracurriculars when evaluating candidates. If you aim to reach a management position and the high median salary that comes with it ($105,000 and up), leadership skills will be important to your resume. Cultivate the leadership qualities that are necessary to up your earning potential today.

Leadership Skills:

Decision-making
Honesty
Resilience
Motivation
Ability to give constructive feedback
Commitment
Delegation
Risk-taking

Budget-Friendly Upskilling Resources

Browse some of the following online resources for free and budget-friendly ways to start learning new analytics, leadership, digital, and soft skills.

Upskill Yourself and Your Employees in 6 Steps

Now that you have an idea of areas to upskill in, start today by following these six steps. Each step focuses on tips for your own career benefit and also includes tips for helping your team.

Step 1. Identify Your Goals

The first step to upskilling is identifying your end goal. Begin by asking yourself what you want to achieve in your career. Maybe you’re in an entry-level position and want to be promoted to a senior role, or maybe you have an impossible goal like working your way up to CEO? Whatever your goal is, keeping it at the forefront of your plan is important to achieving it.

Tip For Upskilling Your Team: Ask each team member about their immediate and future career goals. Focusing in on these will help you plan a long-term course of action.

Step 2. Find Your Knowledge Gaps

With your ultimate goal in mind, it’s time to figure out your knowledge gaps. To do this, you can browse job descriptions for your desired position and figure out which required skills you don’t currently have. Alternatively, you can use your network and ask a mentor what skills they look for in a viable candidate for your desired position. Once you find your knowledge gaps, you can look into planning what you need to learn.

Tip For Upskilling Your Team: When it comes to upskilling, every employee will have different gaps to fill. Conduct a skills gap analysis to see what each member can improve on and merge that with their career goals when planning the next step.

Step 3: Formulate a Plan

Once you know your gaps, start planning how you will fill them with education and training. Remember to evaluate many different avenues for learning based on your budget. You may not need to shell out the money for an expensive bootcamp if you can learn from free videos online or purchase an affordable book to teach yourself.

After researching how to learn or acquire your skill, make a S.M.A.R.T. plan or one that is made of specific, measurable, attainable, relevant, and time-bound objectives. Adjust your plan based on what you can realistically accomplish in your everyday life. A good plan is composed of multiple S.M.A.R.T. objectives that help you reach your goal. Find an example below:

Good Upskilling Objective:

I will spend X hours a day/week [learning method] for X amount of weeks/months in order to learn [skill].

Example:

I will spend two hours a day watching instructional videos for eight weeks in order to learn HTML.

And…

I will spend five hours a week practicing my HTML for four months in order to gain practical HTML skills.

Tip For Upskilling Your Team: When planning to upskill your team, use the resources your company already has or help create some. If you don’t have many internal resources, look into creating a company budget or individual career development budgets for employees to learn on their own.

Step 4: Learn New Skills

Once you have an upskilling strategy, it’s time to get to work. Learning takes time, dedication, and constant application of your knowledge. Try to have fun along the way and don’t be afraid to seek out help. Remind yourself of your end goal throughout the process in order to stay motivated toward achieving it.

Tip For Upskilling Your Team: Equip your team with the necessary tools and resources to get the learning done. Provide help from mentors or peers when necessary. Additionally, offering financial support or incentives can help motivate them and bring you a positive return on investment.

Step 5: Act on your New Skills

It’s time to put your new skills to use. Begin with low-risk ways to test them out first. Try contributing some of your newfound knowledge in a meeting or offer to help out a team member who uses your skill but currently has a lot on their plate. If you apply your skill well, you can impress your team and open yourself up to bigger opportunities in the future.

After testing your skills, you may feel confident enough to make bigger moves. Think about asking your manager for more autonomy on a project or even about expanding your work duties. If you successfully demonstrate the worth of your valuable new skills over time, you can work on negotiating a promotion or a raise.

Tip For Upskilling Your Team: Once an employee has upskilled, give them ample opportunities for flexibility and career growth. Consider offering the chance to rotate positions and transfer their new skills or open up a discussion about role enlargement.

Step 6: Stay Adaptable

Upskilling is not a one and done kind of mentality. You never know what new knowledge gaps might pop up in your skillset or how your career goals may change over time. Staying adaptable by constantly learning is the key to growing with constantly evolving technologies and industries.

Tip For Upskilling Your Team: Create a culture of learning by offering year-round training and development opportunities.

In a constantly changing world, it’s important to remain adaptable and find ways to future-proof your livelihood. Take control of your career trajectory by upskilling and reap the many benefits it has for you, your career, and your finances.

Thinking about investing in an online course or bootcamp to start upskilling? Download the Mint app and create a new budget category for upskilling to budget your investment in yourself today.

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Source: mint.intuit.com

August 26, 2021

Competitive Pay: What It Means and How To Get It

For anyone who’s spent time searching for a job, you may have come across the same hiring buzzwords over and over again. A phrase commonly used in job descriptions to attract top talent is “competitive pay.” While these two words are enticing to those looking to level up their earning potential, it’s not always clear what it really means. To help you understand this term and what it means for you, read on for a definition of competitive pay, details on what’s typically included in a competitive compensation package, and steps for how to get one.

What Is Competitive Pay?

When it comes to compensation, the label “competitive” refers to pay that is comparable to or better than the market value of a position. In human resources, a competitive salary is the average market rate for the role, plus a percentage of that rate. This percentage may vary depending on a company’s pay philosophy. It also means that compensation is competitive in relation to what other companies might offer for a similar position in the same industry and geographic area.

5 Factors That Determine Competitiveness

The market value of a position can fluctuate depending on a variety of factors such as industry and location, so it’s important to note that pay may vary and it isn’t necessarily a specific amount. Find a breakdown of the factors that can affect compensation below.

1. Job Title
When it comes to determining a competitive salary, the role itself will often have a baseline for market rates. Use reliable industry resources such as the Bureau of Labor Statistics (BLS) to assess compensation rates for your role. Once you have an idea of the average market rate, use this number as a guide to evaluate salary competitiveness. Remember that salary ranges can differ based on the role, so make sure you’re referring to an accurate job title when doing your research.

2. Experience Level
Most positions will offer pay that corresponds to either your experience level or the experience necessary for the job. Whether the role is entry-level, mid-tier, or higher, often determines the experience level required and the associated salary range. For example, entry-level positions require zero to little experience and are generally compensated less than mid-tier positions that may require several years of experience. Your education and practical skills all factor into your experience level, and the demand for your skill set should be kept in mind when determining a salary that is competitive for you.

3. Industry
The industry your desired job is in has the power to affect the standard of competitive pay. Lucrative industries like tech and finance may have more competitive rates compared to other industries in order to secure top talent.

If you have a desired career path and aren’t set on a particular field, it’s worthwhile to apply to the same position in multiple industries to see how compensation packages may differ. For those who have a high salary as their goal, research earnings by industry and apply to various companies within the highest paying one to find the most competitive pay for you.

4. Geography
Location also affects the average market rates of a position. Places with a higher cost of living and higher minimum wage standards typically compensate more to account for these factors. For the most accurate salary and wage information, it’s best to tailor your research to a specific geographic area. The BLS produces data on wages based on region, state, and many metropolitan areas.

5. Job Availability
Much like market prices vary based on supply and demand, salary does too. When a job is in high demand but lacks supply, pay is likely to be more competitive. On the other hand, if a position is in low demand but there are plenty of qualified candidates, this will likely decrease the market rate of the position. If you’re interested in a hiring pool that works in your favor, check out this list of the fastest growing jobs for in-demand positions.

What’s in a Competitive Compensation Package?

Competitive pay doesn’t refer to just salary; it actually encompasses the entire compensation package. Learn more about what other benefits are included such as paid time off, insurance, retirement options, and other bonuses.

Paid Time Off

One important aspect of any compensation package is the amount of paid leave that’s offered. Time off from work is important to your health and wellness, and it’s also necessary if something changes in your personal life or if you get sick. Vacations are also a good way to set boundaries at work to prevent burnout. When you’re able to balance your life and work, you can maintain your performance and work toward achieving your personal and professional goals.

Health Insurance

Health insurance is another standard part of a compensation package and is generally offered to varying degrees depending on whether your position is full time or part time. Medical, dental, and vision insurance are rated as some of the most desirable employee benefits, so it’s no surprise that better quality health coverage is often a prized aspect of competitive pay.

Retirement Options

Many companies also include retirement plans as part of their compensation. Depending on your employer and your options, you can contribute part of your paycheck toward a 401(k), 403(b), or Roth IRA to start saving for retirement. Oftentimes your employer will match a certain percentage of your contributions, so it’s good to take advantage of this by contributing the maximum amount allowed each year so long as you can afford it.

Other Benefits

While salary, paid time off, health insurance, and retirement options generally make up a standard compensation package, they’re not the only options available to you. When evaluating a job offer, feel free to ask about other compensation benefits like bonuses, stock options, and profit-sharing. Here are a few examples to ask about in your next salary discussion:

Signing bonus
Performance bonus
Relocation bonus
Stock options
Profit-sharing plan
Supplemental budget (e.g., for wellness or career development)

How To Ask for More Competitive Pay

When a job description states competitive pay, it’s a positive sign that the company or organization is willing to negotiate compensation. Remember that competitive compensation is determined by a variety of factors, including factors that are unique to you as an applicant. Leverage this information and try negotiating for the pay you want with these simple steps.

1. Pick Your Priorities

When entering into a salary negotiation, it’s best to know your priorities when it comes to compensation. A higher starting salary is a major negotiation point in many salary discussions, but depending on budget constraints or company pay scales, it may not be possible. If this is the case, think about what other forms of compensation would be valuable to you. You may be more successful asking for a one-time signing bonus instead of a higher salary or decide that stock in the company is more in line with your financial goals.

2. Backup Your Request With Evidence

Just asking for a higher starting salary or better benefits isn’t enough. To successfully negotiate better pay, you’ll need to present a strong argument. Use the research you gathered about the market rates for your particular position, location, and industry as evidence in your argument.

Remember that competitive pay is, at the very least, equal to that average market rate or better, so use this number to guide what you ask for. Craft an argument for why you’re worth a higher salary or better benefits by highlighting your achievements, skills, or experience that will bring value to the position.

3. Politely Stand Your Ground

HR professionals are prepared for salary negotiations, and even if they have the wiggle room, they may respond by saying that the position is budgeted for the amount they originally offered. When this happens, it’s OK to politely push back and ask them to explore your request.

Not sure how to push back in a professional way? Try saying the following:

“I understand that the position is budgeted for [insert amount], but based on the value my skills and experience can provide to the team, I’d appreciate the opportunity to explore a higher salary of [insert desired amount].”

After saying this, they may let you know that’s all they can offer or they could come back with an offer that’s better than the original. Don’t miss out on the potential for a better salary and remember to stand your ground.

Now that you know what competitive pay means, feel free to get excited whenever you come across this term during your job search. Keep in mind that competitiveness will vary based on the market rates and what you bring to the table, so adjust your salary expectations based on your research.

Even if your research doesn’t yield your ideal pay, be confident in your skills and use these tips to negotiate the most competitive compensation package possible. Whether you end up with a signing bonus, more vacation days, or that coveted higher salary, you and your budget can be happy with your achievement.

Sources: American Marketing Association | Digital HR Technology |

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Source: mint.intuit.com

August 25, 2021

How to Prepare For Life Post-Graduation

Life after college graduation can be… a lot.

You don’t really appreciate the bubble of campus living until you step out into the great unknown. One day you’re worried about studying for exams and writing papers, and the next you’re figuring out how to make rent and put bread on the table.

It gets easier, but the transition is usually a little bumpy. That’s why it helps to do a little prep work before you graduate – make it happen with these simple strategies.

Fix your social media profiles

Having an inappropriate social media profile can ruin your chances of getting a job. After you graduate, verify that your profiles are private. Change your profile picture to something inoffensive, like a picture of you in a cap and gown.

Double-check that there are no embarrassing public tweets or posts that could land you in hot water.

Start a LinkedIn profile if you don’t already have one, and list your academic and professional accomplishments and special skills. Connect with other students, former professors and past supervisors. Ask for recommendations and endorsements. Follow companies you’re interested in to be notified when they post a new job.

Check your credit report

Your credit report shows all your past and current loans, credit cards, and other credit products. There are three different credit bureaus that produce credit reports: TransUnion, Equifax, and Experian. Lenders, landlords, and even employers will check your credit report to see how responsible you are as a borrower.

Viewing your credit report regularly will highlight any mistakes or potential issues, like a credit card that doesn’t belong to you or a late payment from a long-forgotten loan.

Check your official credit report for free at AnnualCreditReport.com, which shows official credit reports from all three bureaus. You can check your credit report for free once a week until April 2022.

Monitor your credit more frequently for free by creating a Mint account. Mint will show your credit score and notify you when something has changed on your report. Your credit report is like a financial report card, while a credit score is like a GPA. Credit scores range from 300 to 850, and anything above 670 is considered good. An excellent credit score, which you’ll need to secure the lowest interest rates, is 750 or more.

Find and organize your student loans

If you’re like thousands of students, you graduated college with a degree – and a hefty student loan balance. Tackling your student loans will be one of your first post-grad challenges, and there’s no better time to start than now. Check out our free loan repayment calculator to help you determine your monthly payment.

First, find your federal student loans by logging onto the Federal Student Aid website. This will show all your federal student loans, the minimum payment, interest rate, and total amount owed. If your parents took out federal loans that you’re expected to repay, they can use this same website to log in.

If you have private student loans, visit each servicer’s website and create an account if you don’t have one already. Your private loans should be listed on your credit report if you need a refresher.

After you log in, the site should list your next due date. In most cases, you can set up automatic payments from your bank account. This will ensure you never miss a payment, which would decrease your credit score.

If you’re struggling to find work, request a deferment from your private lender or switch to an income-driven repayment plan from your federal lender. Federal loans under an IDR plan have a $0 monthly payment if you’re not employed.

Avoid using federal deferment or forbearance unless you really need it. Borrowers are limited to three years for these programs, so it’s best to save them for a true emergency. Private lenders also usually limit the number of times you can defer a loan. Before deferring any loans, contact the lender and ask if other options are available.

Start networking

Graduates without a job lined up should start networking as soon as they graduate. Remember that applying to jobs online isn’t the only way to get hired. Making connections is a better way to learn about new positions.

Even if many networking events are still postponed due to the pandemic, you can reach out to people through LinkedIn. Send a brief note explaining who you are and any mutual connections you have. People are more likely to respond if you have something in common, like the same alma mater or sorority.

Ask former professors or bosses if they have any suggestions for job hunting. Sometimes their advice will lead to a useful tip you can implement to improve the job hunt.

If someone agrees to meet you for lunch or coffee, always offer to pay and send a thank-you note afterward. Some professionals get hit up for advice constantly, so it pays to be respectful of their time.

Being shy doesn’t pay off when it comes to landing a job, especially in a competitive field. Don’t be afraid to ask about job openings or internships, even if you might not be qualified.

Pursue your interests

Even if you can’t find a full-time job, you can still work on your career. Get an unpaid internship, start a freelancing operation, or shadow a professional in the industry. This will also put you in contact with more people who can help you find a full-time gig. Plus, it gives you something to put on your resume that may be more relevant to your industry than working part-time at a fast food place or driving for Uber.

Freelancing on sites like Upwork and Fiverr can also help you build a portfolio you can then share with potential employers. Start your own website that you can link in your resume or cover letter.

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Source: mint.intuit.com

Many things may come to mind when you think of professional development, like a big promotion or a much-deserved raise. However, career success and development should be defined by what you find professionally fulfilling, whether that is climbing the corporate ladder or contributing meaningful work. One way that many experienced professionals achieve career fulfillment is by becoming a mentor.

Mentorship can be considered a form of investing in the workplace. Much like you might invest your income to grow your wealth, you can contribute your time and energy into the growth of both people in the mentorship. If you’re taking on a mentee for the very first time, learn how to be a mentor that makes a difference with these 27 tips.

Feel free to jump down to the infographic for a visual breakdown of common mentoring styles, the benefits of mentorship, top qualities, and ways you can help influence someone’s career.

What Is a Mentor?

A mentor is an individual who provides guidance and advice over an extended period of time to someone with less experience, otherwise known as the mentee. Mentors are supposed to share their expertise and knowledge, answer questions, and help support their mentee’s personal and professional growth.

Benefits of Being a Mentor

The career advantages that mentoring brings mentees are often discussed in popular media, but it’s important to acknowledge that mentors reap many benefits as well. Career advisor Micheal Gilmore said, “Employees who serve as mentors also report greater job satisfaction and greater career success [and] more than half receive salary increases over time.”

Read more about how mentorship has the potential to influence your salary, your ability to climb the corporate ladder, and your journey to personal fulfillment.

1. Increased Salary Potential
Investing your time and effort into mentoring can literally pay off. A longitudinal study by
Sun Microsystems found that those who were mentors were 20 percent more likely to
receive a pay raise than those who weren’t. If you’re looking for ways to help boost your
salary, mentoring might just help you get there.

2. Higher Likelihood of Promotion
Mentoring also correlates with successful career movement. The same study found that the likelihood of mentors being promoted was six times higher than non-mentors. Experiences from mentoring often hone skills that are valued at leadership levels such as motivating and supervising others.

3. Enhanced Personal Fulfillment
Finally, mentorship can offer immense personal satisfaction. For many mentors, personal fulfillment came from the ability to give back and watch mentees grow. Professor of Business Law at the University of Connecticut Robert Bird said, “The greatest benefit to being a mentor is the joy of watching a mentee thrive.”

Quality Mentor Traits

When it comes to what makes a good mentor, it’s helpful to know what traits are valued by mentees. Here is a list of some of the important traits a mentor could have:

Positivity
Integrity
Patience
Honesty
Empathy
Confidence
Leadership
Willingness to help
Openness to ideas
Expertise in their field
Capacity for feedback

Ways To Be a Good Mentor at Work

Mentors shouldn’t just have quality characteristics; they should also be able to demonstrate them. In this section, we’ll explore the three A’s of mentorship: active listening, availability, and analysis. Additionally, learn how to lead by example by following these tips to be a career-changing mentor at work.

1. Ask About Career Goals

At its core, traditional mentorship is about an experienced professional guiding a mentee’s career and personal growth. As such, it should make the needs of the mentee a priority. The best way a mentor can prioritize their mentee’s needs is by simply asking them.

Get to know them and ask questions about their career goals, what they want to improve on, who they’d like to connect with, and how they like to receive feedback. Their answers will help guide your mentorship so you can best support them in their evolution and growth. Help them turn their career goals into specific, measurable objectives to accomplish over time.

2. Adapt Your Mentoring Style

Once you’ve learned all about their goals and preferences, it’s important to adapt your mentoring style to fit their needs. Does your mentee want to take more risks and accelerate their growth? Be the person that will challenge them to get out of their comfort zone or try new things. Or if they’re good at what they do and occasionally need advice, try a more hands-off approach to show them that you trust their direction.

3. Learn About the Types of Mentors

There are many different types of mentors that exist, and your capabilities and experience may mean you’re not the right one for a certain mentee. Check out five common types of mentors below and see which one you might be best at.

The Cheerleader: This type of mentor keeps their mentee motivated to get where they need to go. They boost their mentee’s confidence when they’re discouraged and provide support when they need it. Cheerleaders are great at celebrating successes and picking you up when you lose.
The Companion: Companions are closer to being peer mentors. This mentor style is collaborative and open to giving and receiving feedback. They may even be peer mentors that are at a similar job level.
The Search Engine: If you’re a go-to resource for industry knowledge, you may be a Search Engine. You act as an educator, sharing what you know based on your experience or providing information about current processes or trends.
The Advocate: Your mentee might really value making connections and showcasing their work, and the best type of mentor you could be is an Advocate. These mentors advocate for their mentee’s work ethic and character and leverage their network to open the right doors.
The Master: As the mentor name suggests, Masters are experts at what they do. They can share their mastery with their mentee by teaching them skills and helping them cultivate their own expertise.

4. Be Available for Your Mentee

An important part of a mentorship is the time you invest in your mentee. A good mentor is available when needed and reasonably prioritizes the relationship. Time is valuable, so make sure that with every phone call, meeting, or email, you’re providing adequate attention to your mentee and their growth.

5. Try Out Reverse Mentoring

Reverse mentoring puts a spin on traditional mentoring by having the junior level individual mentor the more senior individual. Although you may have a traditional mentorship, feel free to switch up your strategy for a week or even a month and have your mentee try mentoring you.

Co-Founder and COO of Gainful Eric Wu stated, “You can get a fresh perspective from someone who is just starting out, and they may also have some insight about the future of your industry or see trends you may not have noticed before.” This strategy can foster collaboration between both of you and even drive innovation in your careers.

6. Set Clear Expectations

In order for a mentorship to be successful, clear expectations are necessary. As the mentor, you should outline your boundaries early. If you intend for the mentorship to be strictly professional, let your mentee know. Additionally, allow your mentee to set their own expectations for your relationship and create boundaries as needed.

7. Brainstorm Ideas

Be someone that your mentee can come to with their wildest dreams and ideas. Brainstorm together and act as a sounding board and voice of reason. Not every idea they have will be successful, but it’s important to be a mentor who allows them to think for themselves and doesn’t stifle creativity.

8. Give Constructive Criticism With Kindness

You’ll be expected to give feedback to your mentee on their work, ideas, and growth. It’s important to be honest yet constructive with any feedback you may share. Remember that it’s OK to give criticism — in fact, it’s your responsibility as a mentor. However, try to offer actionable critiques and communicate them with kindness.

9. Make Connections Professionally

Sometimes, you may not be able to offer the advice or experience that your mentee needs. If that is the case, look to your network and make introductions to people who have the relevant expertise. Those connections will help your mentee grow their network and provide other valuable opportunities to propel their growth.

10. Give Help Readily

Professor Alexander Lowry from Gordon College said, “The goal [of mentoring] is altruistic, not Machiavellian. The intent is to pay it forward.” Readily give help to your mentees when they ask for it, and offer guidance with their best career interests in mind. Even though you may benefit from the relationship, your main goal should be to further their career and not necessarily your own.

11. Balance Advice and Autonomy in Decision-Making

When it comes to decision-making, your mentee will look to you for guidance. Feel free to offer your wisdom, but also give them the freedom to make the final decision themselves. This will allow them to operate autonomously in their career but also help them when they need it.

12. Share Your Story

Be willing to share your own journey of personal or professional growth. Let them know about your triumphs and areas that you struggle with professionally. This can help them feel comfortable with you and normalize that there will be both positive and tough experiences. Additionally, sharing your story can be inspirational to someone who hasn’t achieved everything you have yet.

13. Be Empathetic

Empathy is a prized quality in the workplace. In disagreements, it allows us to seek to understand the other person’s perspective, and that insight will influence how you move forward or find common ground. This trait is also helpful when offering constructive criticism or when providing support during difficult times.

14. Challenge Your Mentee To Leave Their Comfort Zone

Mentors are meant to help propel their mentee’s growth. Do this by encouraging them to take risks, no matter how big or small. Push them to try new responsibilities or explore different career paths to expand their horizons and figure out their preferences at work. Not everyone readily steps out of their comfort zone, so make sure to challenge them without pressuring them.

15. Analyze Progress

When it comes to guiding career development, it’s helpful to analyze how far your mentee has progressed. Ideally, you and your mentee will have set specific, measurable objectives to help them level up their career. Once those have been completed, analyze how well you and your mentee met their objectives. If their objectives were completed successfully, you can keep moving forward. If they weren’t, it’s important to dig into why that happened and evaluate how to do better in the future.

16. Seek Out Feedback

Charles McMillan, founder of Stand With Main Street, said, “Mentorship is a mutually beneficial relationship with the mentor and mentee.” Ask your mentee for feedback often and be open to acting on it. This lets your mentee take an active role in shaping your relationship and your communication, and it also gives them the opportunity to practice giving feedback in a professional manner.

17. Learn How To Build on Their Skills

One area that all mentors should help their mentees with is their professional skills. Learn about their strengths and weaknesses, and develop a plan to help them upskill and reach their highest potential. If you have expertise in the skills they want to learn, make sure to teach them what you know. On the flip side, if you don’t have experience with their desired skills, do your best to put them in touch with someone who does or direct them to resources like Udemy or Khan Academy to get started.

18. Practice Patience

As a mentor, you already know that career success doesn’t happen overnight. Professional growth and learning takes time, so remember to practice patience with your mentee. They may not always acquire a new skill quickly or meet their goals right away. Exercise patience and help them stay dedicated throughout the process. After all, growth is as much about the journey as it is the end result.

19. Celebrate Wins

No matter what type of mentor you are, it’s important to celebrate your mentee’s successes in a way that is meaningful to them. Reach out in a tangible way like writing a card, sending flowers, or taking them to a celebration dinner if they appreciate those gestures. If they prefer words of affirmation, take the time to acknowledge a special accomplishment or congratulate them for exemplary performance. Tailor the celebration to them so they feel good about their progress and feel motivated to keep going.

20. Be Mindful of Mental Health

Work-life balance can be an ongoing struggle for professionals, whether you’ve been in the workforce for decades or have just a few years on your resume. Make acknowledging mental health a priority in your mentorship. Share what helps you bring balance to your life and encourage your mentee to regularly engage in activities that matter to them outside of work.

21. Level Up Your Emotional Intelligence

Emotional intelligence is the ability to monitor and identify others’ feelings as well as your own, and use this information to guide your thoughts and actions. This ability is linked to success for individuals in all areas of life and work, so it’s important to continuously improve it. Try leveling up in the following areas of emotional intelligence:

Relationship Management: Work on conflict management, teamwork, and collaboration
Self-Management: Work on emotional self-control, adaptability, and initiative
Self-Awareness: Work on service orientation, empathy, and organizational awareness
Social Awareness: Work on confidence, social awareness, and accurate self-assessment

22. Focus on the Whole Picture

Many professionals seek out mentorship when they need specific improvement in a certain area. For example, if someone is unfamiliar with starting a business, they may use a business mentor to help them write a financial plan.

However, good mentors will focus on the entire picture when it comes to development. Instead of working to only improve your mentee’s weaknesses, make it a priority to also hone their strengths. With your help, their strongest skills may reach a level they wouldn’t have reached on their own.

23. Acknowledge Your Own Mistakes

Sometimes mentors get put on a pedestal and seem like they know everything or can accomplish anything. Break down this facade and acknowledge when you make mistakes. This allows your mentee to learn valuable lessons, and it’s also a demonstration of humility and resilience. As humans, mistakes are bound to happen, but it’s important to highlight for your mentee that how we change and move on from them is what truly matters.

24. Boost Their Confidence

A mentor should always boost the self-esteem of their mentee and never aim to tear them down. Use praise and encouragement to show them that you are confident in them and their abilities. By demonstrating your trust in them, their confidence will rise and help them reach new heights.

25. Hone Your Leadership Capabilities

The process of mentoring someone will help you hone your leadership skills. You’ll work on offering insight and guidance for someone else’s career and take the responsibility that comes along with it.

Always lead by example because your mentee will learn from it and others may even promote you for it. Wesley Exon, founder and CEO of Best Value Schools, shared, “Being a mentor gave me a way to showcase my leadership and coaching abilities [and] this helped me get promoted into a leadership role.”

26. Practice Active Listening

Traditional mentors typically have more life and work experience than their mentees. This means that you may have a lot of wisdom and advice to share, but interactions shouldn’t be one way. Promote a two-way dialogue and practice active listening with your mentee. Give them the opportunity to speak their mind and listen to understand, not just respond. The enhanced quality of your communication will benefit your relationship as a whole.

27. Be a Champion for Their Career Growth

Even if your mentoring type isn’t the Advocate, you should still champion your mentee’s growth throughout their journey. For example, when they need a reference or letter of recommendation, be the one to write them a glowing review that highlights their strengths and abilities. Even when opportunities aren’t present, the best mentors will seek to create those opportunities by making connections and pushing their mentee to keep learning.

Good mentorships are incredibly fulfilling for all people involved, so try investing your time and energy in a mentee. Whether you help them climb the corporate ladder or grow their net worth, you’ll gain an incredible return on investment personally, professionally, and financially.

Sources: Biz New Orleans

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Category: Careers

27 Motivational Career Podcasts for 2021

Career Podcasts for Millennials

1. My Millennial Career

2. Advice To My Younger Me

3. The Tim Ferriss Show

4. Millennial Minded

5. How I Built This with Guy Raz

6. The GaryVee Audio Experience

7. Millennial

Motivational Career Change Podcasts

1. The Job Search Boot Camp Show

2. Career Relaunch

3. Happen To Your Career

4. The Meaning Movement

5. Career Warrior Podcast

6. Career Talk

7. Repurpose Your Career

8. The Holistic Career Change Podcast

Inspirational Female Career Podcasts

1. The Marie Forleo Podcast

2. Being Boss

3. The Classy Career Girl Podcast

4. Not Wonder Woman

5. Side Hustle Pro

6. The Goal Digger Podcast

7. The Clever Girls Know Podcast

Informative Tech Career Podcasts

1. CodeNewbie

2. Breaking Into Startups

3. Developer Tea

4. Front End Happy Hour

5. Ladybug Podcast

Mint Money Audit: 34 and Living Paycheck to Paycheck