Chapter 3: Maintain Your Career You’ve launched your career. Now get busy and McGraw-Hill Build your reputation. Increase your network. Use your experience to help others. Chart your course for the long run. © 2005 The McGraw-Hill Companies, Inc. All rights reserved. Chapter 3 Objectives Define your morals and values. Build and maintain your professional network. Explain why working in a team can be rewarding. Define what a mentor is and does. Extend your goals into the future. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. 3.1 Creating a Professional Reputation Your value to your company depends on the name you make for yourself. Create a good name for yourself through your actions and your deeds. Your actions mirror your values (the beliefs that prompt your behavior) and morals (standards upon which you judge what is good or bad, right or wrong). McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. What Do You Value? Knowing your values & morals helps you plan your career and make tough decisions at work and at home. Do you value: authority? independence? security? creativity? spirituality? risk-taking? power? money? prestige? comfort? helping others? working with others? McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. What Makes You Valuable to Your Company? Your reputation is built on a combination of your: - ethical treatment of others, - skills in leadership, problem-solving, team spirit, communication, - credentials (your education and professional knowledge—degrees and certificates), - experience from past jobs. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. Wanted: Professionals Qualities - Respect for self and others. - Trust. Self-esteem. Confidence. - Initiative. Accountability. - Team spirit. - Customer focus. - Leadership skills. - Problem-solving skills. - Communication skills. - Knowledge and experience. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. Know the Codes Ethics are rules of conduct followed by a group or culture. A code of ethics is a set of written rules of conduct for the members of a group or organization to follow. Read your company’s code of ethics that protects them from legal problems and spells out its stand on issues such as second jobs and trade secrets. Know your group’s ethics; don’t violate them. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. Practice the Golden Rule Do unto all others as you would have done unto you. - The receptionist today may be your boss next year. - People treated with respect and dignity become strong allies who can help and back you. - Keep others’ respect by giving back. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. 10 Ways to Build Your Reputation 1. Always do your best work, even if you think no one will see it. You never know! 2. Keep any promises you make. 3. Meet your deadlines. 4. Take responsibility for mistakes. 5. Share credit with others who’ve helped. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. 6. Go the extra mile. 7. Work to make a good impression on everyone, not just your superiors. 8. Accept challenges; try new things. 9. Focus on the positive. 10. Act with integrity and style in all you do. Don’t compromise your values—or yourself. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. 3.2 Building & Maintaining a Professional Network A professional network is made up of business people outside your office. Build it when you meet people: - Join professional associations in your career field. - Attend seminars and conferences. - Volunteer for public service work. - Take classes. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. You’ll build it if you: - introduce yourself to others - give your business card - exchange information - volunteer for a committee or to be a speaker or a tutor - join a study group or campus activity Birds of a feather…. Choose to network only with those who share your values and morals. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. Know Your Network Get others’ business cards; write key words from your conversation. Keep a professional network journal that includes both personal & professional details of the other person. Put your journal on a PDA or Use a database system (a computer program that stores similar information in the same place) for business contacts. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. Mother Was Right “If you can’t say anything nice, don’t say anything at all.” Backstabbing and bad-mouthing your coworkers and network contacts, even with a “trusted” other, will damage your reputation & destroy your network. - People will avoid you or watch you cautiously. - You’ll lose respect and trust. - You’ll be passed up for promotion. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. when you leave a company or team also damages your network, reputation, and promotion chances. Instead, Making a lateral move? - Leave an organized workspace; - Train your replacement; - Thank former co-workers to keep your bonds with that department strong. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. Your Mission, If You Choose to Accept It… Read the company’s mission statement that defines its business, purpose, & values. Make your company’s mission your mission. Loyal professionals committed to their work and team reach their goals by helping their company reach its goals. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. 3.3 Taking and Giving Credit and Recognition Successful professionals know the importance of visibility—of doing good work & letting people, especially their managers, know about it. People who promote themselves without bragging rise to the top faster. Team members will remember your willingness to share the credit. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. There is No “I” in TEAM A good team can produce more, more efficiently while benefiting its members. Collaboration (working together) makes use of each member’s strengths. Motivation (the will to act) comes from enjoying working together and knowing the team needs you. Use “we,” not “I,” when speaking of the team’s good work; give credit to everyone on your team. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. Ways to Promote Yourself Graciously E-mail network people, asking what they’re doing and sharing the news of your good projects. Put your profile on your company or alumni website or professional organizations’ websites. Tell your personal network; no one will hold your family’s shameless praise against you. Don’t be shy at interviews. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. Pass messages of praise from customers or clients on to your supervisor. Ask for letters of recommendation for your file when you leave a job or department. Volunteer to speak about your work, company, or projects to groups outside your company. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. Mentor new employees whose good impressions will reflect on you. Be sincere about what you care for and take pride in. Be humble. Promote your team or the people who have helped you. Be memorable. Look your best, enjoy yourself, and make people feel good when they’re around you. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. Because you have consciously created your professional profile, people will know - who you are - what you’ve done - what you might do Your positive professionalism will make reaching your career goals that much easier. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. 3.4 Using Your Experience You are reaching your benchmarks. Now it’s time for you to help others get started. How? - Be a mentor, giving advice to others & helping them to learn & grow to their fullest potential. - Be a tutor. - Be a good manager. - Serve your community. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. Mentoring You’ll need experience & knowledge in your field, patience, and excellent communication skills. You’ll be a role model. You won’t be a psychologist. Refer mentorees with emotional problems to HR or a professional counselor. You may mentor at work to reduce employee training costs. You can also mentor in your community. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. Be a Good Boss Being a good boss is like being a mentor. To be a good boss: - lead by example. - communicate well and often. - keep your emotions under control. - give your employees the tools needed to do the job. - help them set individual goals. - have an open mind; there’s no one right way to do anything. - coach employees to solve their own problems. - don’t assume; do ask to avoid misunderstandings. - refrain from unethical behavior. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. Serve Your Community Doing charity work & community service to make someone’s life better enriches your life and your good name. Your company can “adopt” a school to provide volunteer help & materials. You can also mentor: - new members in your professional organizations. - troubled or disabled children. - college students in your field. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. What’s Next? You’re a good mentor and manager. You’ve reached your career goals. Now what? Stay fresh by learning new things. You could be an entrepreneur and start your own business or change careers. Whatever you choose, make a new goal, and go for it! McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. 3.5 Planning for the Long Run Plan now for your future and your family’s, including plans for your children’s education. Learn about your company’s health and retirement benefits. Make your retirement plan like you made your career plan. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. Retirement Don’t rely only on Social Security or company pension funds. When planning for retirement, ask: - When do I want to retire? - What are my retirement goals? - How much money will I need? - What kind of investor am I? Aggressive or conservative? - How much money must I save? McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. Retirement Planning Options Your company may have a defined contribution plan that pays benefits based on the amount in your account plus any investment earnings. If your company has a SEP (Simplified Employee Pension), it decides what percentage it will contribute to your investment account. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. A 401(k) plan lets you take money from your pay and invest it through the company. - Most companies match all or part of your contribution. - You don’t pay taxes on it until you retire, when your taxes should be at a lower rate. - You choose among offered investments. - If you change jobs, you take your money with you to your next company. - You can borrow against the money in certain situations like buying your first home. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. Sock It Away Be happy if you receive a percentage of the company’s profits in a profit-sharing plan. Some companies let you buy shares of their stock in an ESOP (Employee Stock Ownership Plan). Remember when you get your pay to always PAY YOURSELF FIRST. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. Healthcare Benefits Healthcare is a standard benefit to fulltime employees in most companies. It includes maternity and sick leave. The two most popular medical insurance plans are: 1. POS (point of service plans) 2. HMO (health maintenance organizations). McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. Point of Service Plans You choose your primary care physician. You choose any specialist and hospital on your network list. You can also choose any doctor outside your network, but you’ll have to pay more. Preventive care like annual check-ups is usually covered. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. HMOs You choose a primary care physician. You cannot see a specialist until your primary care doctor refers you to one. You must use the doctors & hospitals in your network, or you’ll pay all the costs. Preventive care procedures are fully covered. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. Dental & Vision If you have dental coverage, it may be a DMO plan that covers 100% of preventive services & has reduced rates for other services by network dentists or Your dental coverage may let you choose your dentist, but you’ll have to pay more. Vision care plans cover exams & lenses at 100% & have reduced rates for frames & contacts with network doctors. Out-of-network dentists and eye doctors will cost you more. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. Doing Drugs Prescription drugs, that is. These drugs are usually included in your medical coverage. You’ll get a card to present to the pharmacist. You’ll get a discount or have to make a small co-pay payment (a set amount you pay for healthcare or prescriptions, with the insurance company paying the rest) as you do at doctors’ and dentists’ offices. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. College Savings Plans Some employers provide educational benefits for you, but Employers do not provide college savings plans for your children, so Consider the tax-free 529 plan soon available in all 50 states and D.C. Make small payments monthly in either: - the pre-paid tuition plan based on today’s tuition costs or - the savings plan that does not guarantee it will keep up with tuition increases. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. Make Your Retirement Plan Making informed decisions and having a plan for retirement can make your retirement a success too. Before making your plan, ask yourself: - Do I want to retire or start another career? - Where do I want to live? - What lifestyle do I want? - What about long-term nursing care? - Funeral expenses? - What does my family or spouse want? McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. Chapter 3 Recap IF you: Guard your good name through ethical conduct, Make a professional network; avoid burning bridges and bad office politics, “Sell” yourself and your team; acknowledge the help of others, Are a mentor and a good role model, Understand your company’s benefits and plan for your retirement, McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved. Then you’ll be a successful professional in charge of your career and in charge of your life. McGraw-Hill © 2005 The McGraw-Hill Companies, Inc. All rights reserved.