Hi! My name is Jessica Lipps and I’m excited for my first post to Thrive Global. I host of Lipps On Life, an interview series with extraordinary people who are living their dreams. My hope is that hearing the guests’ stories will inspire you to live your own dreams!
Past Lipps On Life guests have included CEOs, Tony and Emmy Award Winners and more. I’d love for you to check out the interviews at Lipps On Life and/or follow @LippsOnLife on social media. And please reach out anytime — it’d be great to hear from you!
This month’s guest is New York Times Best-Selling Author and Career Expert Dan Schawbel. In our conversation, Dan shares his research on workplace trends for 2017. What can we expect for compensation and benefits, why is there employee burnout and how does technology impact us? Learn about this and much more here:
Interview: Dan Schawbel, NY Times Bestselling Author, Career & Millennial Generation Expert; Forbes…
Dan Schawbel (www.DanSchawbel.com) is a New York Times best-selling author, speaker and consultant on career and his…bit.ly
If you don’t have time for the whole interview, you can find audio clips here.
At the end of each interview, I type up the guest’s #TakeAways and share them on the Lipps On Life website and social media at @LippsOnLife (think of them as your daily doses of inspiration!). Here are just some of Dan’s incredible #TakeAways from our conversation.
Thanks for reading. I hope that you enjoy!
DAN SCHAWBEL’S INTERVIEW #TAKEAWAYS:
-Internships and leadership positions in college greatly impacted on my long-term career.
-I got into entrepreneurship because of blogging. Blogging to me was a testing ground to see what the possibilities were in life.
ON OVERCOMING FAILURE:
-The thread that goes throughout my whole career is not getting an opportunity and then figuring out how to build a stronger profile to eventually get that opportunity.
-For example, I applied to college early decision and was waitlisted to regular decision. I went back to the drawing board. I got straight A’s my last semester, wrote a letter to admissions officers and interviewed on campus. I started to work much harder so I eventually got in.
-A lot of people are taught two things in college: wait until your junior year to get an internship and network by handing out your business cards and resumes. Both are wrong.
-Your first internship is the hardest to get because everyone is looking at your previous internships that you don’t have. They want the track record. So the sooner you get your first internship, the easier it is to get the best internship junior year of college.
-This is happening whether we like it or not. More companies are building their brand and recruiting high school students and even middle school students.
-About 3 years ago, half of high school students in America had an internship. About 70% of high school students want to volunteer or are currently volunteering. The world has changed. Why? Because of the vastness of technology, pressures of the economy and pressures of parents and the school system to get into college.
-How will you differentiate yourself? If you have an internship, that will help you stand out. That’s the world we live in.
-The #1 piece of advice for young people -whether you’re 16 or 24 — is do as much as you can as early in life as possible. The long term positive implications of that time spent and that sweat — you can’t even measure it.
-For my first book, I was rejected by 70 out of 70 agents and 2 publishers and the third publisher signed me.
-I was signed because I told that I was the right person with the right idea at the right time. To get signed now, you have to have already sold tens of thousands of copies and have a huge email list. Back then, it was good timing.
-I really felt like I was meant to do it, like I was the person who had to write the book. The first book came from the most genuine place ever.
-Part of the original drive was: As a child, I was made fun of a lot because I didn’t fit in anywhere. Because I had those kinds of struggles, I felt constantly that I had to prove myself. So that manifested into the work ethic.
-My personal mission is helping people go from student to CEO. I really want to help our generation succeed and corporations become better so that our generation can succeed. So think of me as the middle man between corporations and our generation. I’m trying to make it work!
-Stay at your job until it makes sense to leave. Especially when you’re on your own, it’s hard to project how much money you’re going to make. Stay with the company as long as you can because it protects you and gives you the best chance for success. Only leave when you have to leave.
-Our generation is impatient. They want instant gratification and the badge of honor that is the most socially acceptable, which is entrepreneurship. Everyone wants to consider themselves an entrepreneur because it’s cool. People are quick to quit their job and it’s not a good play.
WORKPLACE TRENDS — 2017:
-The average tenure across all generations and age groups is 4.2 years. That number is going down. It used to be 4.6 years; it used to be 5.5 years. For our generation, it’s two years. Some stay less than a year.
-40% of people this year regardless of age are looking for a new job. No one is happy. Everyone is looking for the next best opportunity — in dating, in everything. This is the mentality that people have. It’s really because of technology. Technology has made people more accessible than ever before — it’s had positive and negative implications.
-Technology has made us more dysfunctional, despite the benefits. It’s actually caused us harm, made us less productive and hurt human relationships, which people still cherish the most, regardless of age.
-People, regardless of age, want to work in a corporate office. Despite their behavior, they want in-person meetings.
-Older generations think that men are better prepared and better leaders in the workplace. Younger generations think that women should be the leaders in the workplace.
-Our most recent study found that there is an employee burnout crisis in America.
-People are working longer hours and not making more money. People are making 10% less than they did 10 years ago. The average work week is 47 hours. There is no 40 hour work week anymore. So people are being burned out because they have to work longer hours and not being incentivized. There’s no compensation so it’s crushing them.
-Companies aren’t hiring more employees. They are trying to squeeze out as much as they can from each employee.
-This happened after the recession. Companies started to hire slowly and not as much. The average time to hire expanded by about a week. This causes employees to have to do more work with fewer resources. It’s causing as much as 50% of employee turnover. Half the reason an employee leaves is because they are burned out. If you’re burned out, you’re less engaged and have less organizational commitment.
-The #1 challenge that companies have from a talent perspective this year is retention because the economy is dong better. The unemployment rate is about 4.6% and that’s down from 8.6% in 2009. Because of that, people have more options and are more optimistic. When an opportunity comes, they will probably take it.
-Every time a company has to replace one of us, it’s $20,000. Plus headaches. Plus stress. Because when an employee isn’t there, that team of 2 or 3 has to do that work. So companies have to be more competitive with compensation — compensation is predicted to go up by 2.9% this year. Companies know that they have no choice but to pay a little bit more and they are going to boost their employee benefits.
To connect with Dan or me (would love to hear from you!), visit:
Facebook: @DanSchawbel; @LippsOnLife
Twitter: @DanSchawbel; @LippsOnLife; @JessLipps
Instagram: @DanSchawbel; @LippsOnLife; @JessicaLipps16
Originally published at onmogul.com.
Originally published at medium.com