Role reversal: Men pursuing jobs once thought of as belonging to women

Observation:  This morning, the New York Times published an interesting article on gender role-reversals in the workplace.  But also important, the story suggested a shift toward a more modest “American dream” since the 2007-2009 recession; one that is focused on simply staying ahead of financial commitments, and having enough left over to go out for some dinner and entertainment once-in-a-while, take a modest vacation once a year, or otherwise enjoy occasional “small indulgences.”    (Not necessarily a big house and fancy cars.)  Click here to see the story.

Implications:   “Inverted expectations” is how this Times story refers to what we’ve called, “Reconciliation.”  Worth noting, as we’re seeing more and more evidence of this shift that we called out several years ago.

If men are opting into more roles that were traditionally held by women, what does that mean to the family dynamic?  Are women more likely to bring home the “breadwinner” paycheck, and men more likely to provide the “additional income?”  If she carries a greater income burden, is he assuming a greater role in such household responsibilities as childcare, housekeeping, and laundry?  If these kinds of changes are happening in the workplace or household… what do they look like by the time those changes walk into your store, dealership, or lobby?

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

Record numbers of people working after age 65

Observation:  The great recession of 2007-2009 left many casualties in its wake, not least of which were battered investment accounts and many peoples’ retirement aspirations.  With that in mind—and with so much uncertainty about the future of Social Security and other programs—it was not so surprising to see an article in the New York Times this weekend that explained how many older folks remain in the workforce.  Click here to see the story.

Implications:   Baby boomers have re-defined every life stage as they moved through it.  Why should retirement (or, re-hirement) be any different?

As you think of targeting “career workers,” does the image that comes to mind include people who have gray hare or hassles with arthritis?  As older Americans earn a share of available income that is larger than earlier generations, their needs and preferences could become more and more important to more and more companies.

Does opportunity knock for your business in serving an older workforce?

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

An educated risk: Higher ed requires higher debt

Observation:  Last weekend, the New York Times published an in-depth story about the rising costs—and tremendous loans—many students are having to consider when pursuing a college degree.  Click here to see it.

Implications:   Deep in the story, these writers compare the current student loan crisis to the mortgage bubble… not because it holds the same potential to harm our greater economy, but because of the “education at any price” mentality that has prevailed in recent years, and because many students fail to realize the long-term consequences of tuition debt.

As I finished this story, I was left with several questions.  Is the U.S. at risk of a downgrade, in terms of its leadership position in education?  What kinds of jobs (indeed, what kind of an economy) await the less educated working population?  Will the academic world correct itself, creating more schools that focus on a specialty and fewer that offer deep programs in all subject categories?

This is a category that seems to be poised for a shake-up.

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

After retirement, I plan to… work

Observation:   Last week, a couple of impressive numbers popped off the page when I glanced at a USA Today Snapshots box:   After they retire, 9% of surveyed workers plan to work full-time, and 44% said they plan to work part-time.

Implications:  We knew that the recent recession wreaked havoc on peoples’ retirement plans.  But these numbers illustrate how people have decided to cope.  And this might not just be the result of the hit people took to their retirement fund (or the thought that their home might not represent the nest egg it once was)… it could simply be a reflection of longer life expectancies.  After all, fifty years ago, life expectancy was much shorter; a retirement fund, therefore, did not have to last as long.  Today, with people typically living into their 80s, 90s, and beyond… that retirement account has to last much longer than a few years.  A little supplemental income might be important!

This trend impacts a lot of different companies in a lot of different ways.  People with jobs continue to spend on workplace apparel, invest in their commute (whether that be buying cars, automotive service or mass transit), and work-related tools (ranging from trade items to laptops and smartphones).  And earning a little extra money might leave these folks feeling as if they deserve a little more of a reward from time to time, whether that’s a night on the town, or more frequent vacations.

Are you paying attention to today’s retiree’s (aka “New Age Seniors”)?  They’re not living your grandparent’s retirement.

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

Temporary staffing appears robust

Observation:   A posting from the AMEX Open Forum blog this morning suggests that temporary employment is picking up across the U.S.  The story is informed by Stephen Berchem, president of the American Staffing Association.  Click here to see it.

Implications:   The reason Temp Staffing is an important benchmark, of course, is that it serves as a canary in the coal mine; temporary workers are among the first cut going into a bad economy, and among the first hired when an economy is picking-up steam.  (Companies can add employee firepower on an as-needed, or contingency, basis.  That allows them to wade toward increased capacity without diving into higher expenses, and getting in over their head.) 

Who cares?  Anyone who sells anything.  Paychecks are the prerequisite to purchasing… it’s that simple.  In the aftermath of the recession that ended in June, 2009, many employees were looking for two or more lower-paying jobs to replace the career position that they had lost.  A temporary staffing spike gives those people more options, as well as an entrée into new companies and career opportunities.  Further, it is a signal that overall employment can be expected to gain momentum.

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

Appearances still a factor in the job search

Observation:  Yesterday’s Iconoculture newsletter had a brief but interesting story about the increasing number of people in Spain who are having tattoos removed.  It seems that in a tight labor market, job hunters don’t want to risk that their former symbols of irreverence or personal expression will be a turn-off to potential employers.  Click here to see the story.

Implications:   A tight labor market can influence a wide variety of business categories.  Job hunters need reliable transportation, and a wardrobe appropriate to the position they would like to hold.  Personal grooming might be taken particularly seriously, as well as office supplies and technology tools that can help secure that next gig… or preserving the career they already have.

Do you sell any products or services that might be particularly attractive to a job-seeking consumer, or people who are being proactive about retaining/growing their current job? 

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

Job opportunities coming out of hibernation

Observation:  Frequent visitors to this site know that I find it hard to resist sharing good economic news… and today’s labor report is just that.  The unemployment rate fell again for the month of January.  You can read the Washington Post version of the story by clicking here.

Of course, the employment rate varies by region and job category.  Today’s Washington Post also provides some county-by-county data that you can review by clicking here.

Implications:   There are two reasons to share this kind of news.  First, in an age where we are bombarded by headlines of gloom and doom, I think it is important to amplify the optimism of good news when we can.  (Sometimes, temperament and progress can be self-fulfilling prophecies!)  Perhaps more importantly, a more stable workforce with more reliable paychecks can lead to more stable and reliable consumption. 

It is important to have great timing when heading into a recession, so that one knows when to trim inventories, restrain hiring, etc.  But it is no less important to have great timing when coming out of a recession… and having the goods and personnel required to satisfy customers when they come out of hibernation!

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

Generational Economics: New Age Seniors

Marketing Observation:  Once upon a time, you might have referred to people age 60-69  as “upper demos.”  But that is an outdated notion, one that has not kept up with the changing face of demography, at least in the industrialized parts of the world. Here’s why I say that:

Fifty or sixty years ago, life expectancies were different than they are now.  People often retired from their careers at 62 to 65 years old… and then enjoyed life for a few years before their health began to deteriorate (or they just plain tipped over).  Now, life expectancies are much, much longer—approaching eighty years old—and of course many people are living into and through their 90s and beyond.  These longer lifespans are having a dramatic effect on how we’re living life, especially after age sixty.

Retirement savings have to last a lot longer.  So we’re finding that “retirement” rarely means, “the end of employment.”  For folks in their 60s, it often means quitting the job they’ve always had to have—for economic reasons—so they can take the job they’ve always wanted to have.  Someone who has worked in a confined space for a lot of years might decide to find a job where they can get out and meet people.  Others take a position that lets them fulfill a passionate interest or hobby.  In fact, the concept of “retirement” is making way for the idea of “re-hirement.”  And to the New Age Senior, that return to the workforce serves two purposes.  First, it can be an important supplement to a retirement savings plan that simply has to last longer than it might have, say, fifty or sixty years ago (retirement will last longer than it did back in the fifties for most people). 

But also, the right job can be a source of stimulation and self-actualization for the New Age Senior.  Just realize that their motives for wanting to work might be different now than they were during an earlier career.  Changing jobs can actually be seen as a way of, “giving back.”

Marketing Implications:  Whether you want to sell financial products and services to people who are re-thinking what retirement means, or goods to help people get established in “Career 2.0,” there is a tremendous amount of opportunity in targeting consumers in their 60s.  They still want to travel, spoil grandkids, and play golf.  But they’re looking for ways of fitting all those activities (and more) into a lifestyle that is busier than generations before them at this age.  They’re very health-conscious, eager to stay active, and more technologically savvy, too.

Is this a group of consumers you’d be smart to reconsider, or consider in new ways?

Mike Anderson, for The Marketing Mind consumer trends blog, service of The Center for Sales Strategy.  

Trends related to the workforce and education

Observation:  Last weekend, a story in the New York Times carried the misleading headline, The Dwindling Power of a College Degree.  I wanted to share it before filing it away because as I read it, the article struck me as less a story about education than it was about shifting business fundamentals in America.  The second half of the story points-out tectonic shifts which have impacted the art of making a dollar, including reduced regulations (which used to affect top earners), and declining labor unions (which used to hold sway over how low wages could go).  It was an interesting read, with regard to advancing trends among earners (aka, consumers).  Click here to read it.

Implications:   As the story opines in its closing paragraphs, it would be difficult to imagine what the new financial world order will look like as the post-recession economy starts to normalize.  But it would be reckless to not keep an eye on how things are changing… whether the chasm that defines the Dumb Bell Economy continues to grow, or whether the country resolves to equalize earning power and taxes in some way.

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

Churn seen as a positive sign for the labor market

Observation:  A story in today’s New York Times suggests that recent hiring and workplace separations activity could be a good sign for the job market.  Click here to see the story.  The thinking behind the article is that many companies have been frozen by the economy for a long time, unwilling to either hire or fire employees.  But now, employers are beginning to take action where human resources are concerned… a sign that things are beginning to move.

Implications:    In our on-going effort to amplify the optimism, I was compelled to share this story. 

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

Workforce gaps narrowed by rough economy

Recently, the New York Times published an article about how the labor market has been equalized a bit, in terms of gender equality, as an outcome of the recent recession.  Click here to see the story.

Implications:   It was about a year ago that I suggested—in response to another NY Times story—that the glass ceiling was eroding… as a byproduct of the labor market and recession.  [See “Are women still hitting the glass ceiling,” from October 1, 2010.]

At that time, logic held that companies were not just cutting jobs, but payroll; the higher your paycheck, the bigger target you had on your back.  It only holds that if men were paid more for various jobs, they were more attractive targets as companies tried to trim payroll.


What impact might this shift have at the consumer level?  Might his and her roles change a bit when it comes to the shared decision-making process?  

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

Most don't anticipate a raise

Before I head out for the weekend, I’m cleaning up the various newsletters that did not seem urgent to share, but were worth referring to before I filed them.  One such note came from a recent issue of Research Brief.  It cites BIGresearch in suggesting that many folks don’t anticipate a raise this year, and will adjust to rising prices by changing their purchase behaviors.  Click here to see the briefing.

Implications:  The workforce—also known as consumers—seems to have adjusted its expectations on a variety of levels.  They are more realistic—pragmatic is a good word—and more careful managers of their household incomes.

I don’t think that necessarily means everyone is looking for a low price.  But I do think most folks continue to scrutinize every purchase… asking themselves whether the value and benefit they have received will match or exceed the payment or sacrifice they have made.

Have a great weekend.

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

Can consumers buy time (from you)?

Yesterday’s New York Times had an important story about people who have lost a major “career” job, and who are now piecing-together several part-time positions to make ends meet.  Click  here to see the story.  

Implications:  When it comes to surviving the current economic environment, many people have devised creative and sometimes dramatic measures to make life work.

Think about that.  Once upon a time, we might have assumed a C- or VP-level executive to be a terribly busy person; an important customer for whom time is more precious than money.  On the other hand, one might have assumed that workers in a less stressful job had plenty of time on their hands… and that they might see savings a few bucks as more important than saving time.    

Well, you can toss those assumptions into a bin labeled “1999 stereotypes that no longer apply.”

Consider the middle-aged adult (or anyone) who lost a career job somewhere during the Great Recession… and who is now working two or three jobs (or more) to make ends meet.  Consider how tired and frazzled they are, and how little spare time they might have. 

What does your company, product or service do to help time-sensitive consumers make ends meet, either in terms of cost savings, or in the way it helps them save time… and take a much needed break?  Are you doing everything you can to streamline the transaction time?  Are you making it easy for people shop or research their purchase via your website?  Are you open extended hours, and is your staff respectful of their customers’ time?

There is an old saying that “you can’t buy time.”  But you can sure sell products and services that help people save it.

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

Small business hiring intentions

This morning’s New York Times carried another report about the conservative approach to hiring that continues to be the standard for many small businesses.  (Click here to see the article.)  The piece seems like a good follow-up to our posting on the topic last from last week (see “Companies adding equipment faster than jobs” from June 10).   

Implications:  Today’s NY Times story reiterates that, just as the recession impacted different people in different ways, the recovery is not being felt by different companies in different ways.  For many, an economic recovery will be hard earned, not something one just waits around for.

The significance of this report on consumers is the implication that future income still feels a bit unsure for a lot of folks.  As jobs go, so goes consumer spending.  I’ll continue keeping an eye on this with you.

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

Number of new businesses will influence the number of new jobs and employment

Today’s USA Today offers some insight into the relatively small number of new businesses that have been launched in the year ending March, 2011… and how that modest start-up rate has impacted the rate of employment.  Click here to see the story.

Implications:  The rate of employment directly relates to the velocity of the recovery, IMHO.  So instead of just watching employment numbers, it’s smart to watch those issues that might shed light on future employment intentions.

By the way, I noticed in this story that between 2001 and 2007, companies with fewer than 500 workers added nearly 7 million employees… which businesses with a payroll of 500 or more cut nearly a million jobs.

Is your company prepared to serve this trend toward smaller U.S. businesses, going forward?

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

When states cut, can your company gain?

From education to unemployment services and benefits, states are cutting costs.  That’s according to this story from today’s New York Times (click to link).

Implications:  What could your company do to step in and provide solutions and alternatives to reduced or eliminated government services? 

For example, does more children in the classroom equate to an opportunity for Sylvan, Huntington Learning Centers or other professional tutoring services?  If re-employment counseling and job-hunting services are less available in your state, does that represent an opportunity for private head-hunting firms, local colleges and tech schools, or even temp agencies?

When one provider leaves the market, consumers often seek an alternate provider.  Could your product or service be an alternative to something a government agency once provided?

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

Unemployment rate falls to 8.9%

Because a sustainable recovery depends on consumers having jobs and paychecks, it’s good to end the week with some good news about unemployment. Depending on your preference, here’s the story from the New York Times… and here’s the way it was reported by the Washington Post.

Implications: We still have a long way to go before describing the economy as “robust,” but based on what we’ve been through, this is good news.

As employment gains, pocketbooks open. Have you sidelined any products, services or offers in response to the recession… which might be good to reconsider now, in the face of increased optimism?

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

Many are re-writing (or even erasing) criminal records

Last night, a story on KMSP (Fox 9) here in the Twin Cities caught my attention. It had to do with an emerging trend… where people are going to court to expunge their criminal records. Having a record, they argue, is creating a vicious circle, whereby they cannot get a job, a loan, or a place to live. So they’re doing what they can to erase DUIs, misdemeanors, or other crimes. Click below to see the story for yourself, or visit KMSP’s website by clicking here.

Many Minnesotans Sealing Criminal Records: MyFoxTWINCITIES.com

Implications: I have an opinion on this matter, but thankfully, I get to keep it to myself... and focus only on the consumer trend within this story. In an ever competitive job market, candidates are going to exploit every advantage, and erase every disadvantage they can. This story illustrated, for me, both the competitive nature of today’s workplace.

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

Employment: No bad news is good news.

Today’s Washington Post carries a story about a decline in the unemployment rate, which is very good news. The economy only added 36,000 jobs, but analysts had feared work… including an actual jump in the jobless rate. See this Associated Press video for more information.



Implications: If you own or manage a business, you know that few things elevate consumer confidence and spending activity like a gainfully employed customer base.

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

Jobs report looks good, analysts look stupid

This morning’s Washington Post reports that 113,000 jobs were added to the economy last month, which was less than analysts expected but which was enough to force the unemployment rate downward from 9.8% to 9.4%. Click here to see the report.

Implications: I wish I knew who the analysts are… they never seem to be mentioned by name. Maybe this is good news, and perhaps “the analysts,” whomever they are, are simply bad forecasters.

Mike Anderson