Work, Life, and Satisfaction: Too Many People Hate Their Jobs - Politicrossing
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Work, Life, and Satisfaction: Too Many People Hate Their Jobs

A Gallup poll published long before the lockdowns revealed that only 30% of Americans are passionate and enthusiastic about their work

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The summer before entering graduate school, I landed a job working for a large moving company where imposed deadlines ruled. Each day the drivers and helpers (I was a helper) left the company parking lot at 6:30 a.m.

Everyone’s daily goal boiled down to the same thing, however varied the assignments – finishing the move by the day’s end. If we were moving office equipment or entire offices, the deadlines were often based upon the closing times of loading docks, secured parking lots, and office buildings. If we were handling household moves, we sought to finish before dark.

My Job Drives Me Crazy
The full-time employees, or “lifers” as they were called, came from all kinds of backgrounds. The work was demanding, exhausting, and unrelenting. The lifers basically hated their jobs, but for many, that’s all they qualified for – many were high school dropouts. Later, I’d learn, people in all types of industries hate their jobs.

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Visibly, most of the lifers were aging faster than normal. Each knew the importance of meeting their daily deadlines with an incremental approach, and in inducing the customer to ask them to stop:

An Incremental Approach – In the moving business, one simply could not make a hurried move. For one thing, you’d start dropping items, bumping into other people, and placing items in the wrong rooms.

If you tried to quickly unload a truck, you’d become so tired halfway through that you physically could not finish. So, we unloaded our trucks methodically. I caught on from the first day, largely because I had no choice.

Those first couple of days, I was so sore by the evening that I couldn’t proceed any faster, even if I wanted. By the second week, I started to build up some muscles and could maintain the status quo.

Please Stop

Item by item, the lifer and his helper would lift items off the truck or roll them onto dollies. Office moves were easier than household moves because buildings had loading docks, freight elevators, and long tiled hallways. Houses, by contrast, had front steps, narrow doors, heavily carpeted living rooms, winding stairs, and other irritating impediments.

On household moves, once the truck was cleared of a family’s possessions and all items were in the house, the next task was to unpack all of the boxes. Many contained items which were singly wrapped with newspaper or plastic bubbled sheets.

It was physically easier to unpack boxes, rather than lift, carry, and place them, but by this point in the day, neither the lifers or helpers wanted to do anymore work.

A Wink and a Nod
One sure-fire technique helped shorten our day. With a simple nod to one another, lifers and helpers working on household moves began to unpack the individual items in boxes at a furious pace.

At first, the family was pleased to see such efforts. After a couple of minutes, as one box was opened after another, and hundreds of items started pouring forth, the family typically panicked. They realized that if they let the movers go unchecked, every box in the house would be open and every item they owned would be parked in the far reaches of the house. So, invariably, families asked us to stop.

They wanted to open the boxes, later, at their own pace and regain the ability to make incremental progress themselves. We always feigned perplexity. We’d say, “Are you sure you don’t want us to do any more unpacking?” They were sure, alright. They could hardly wait to see us go. They signed off on the moving contract and displayed signs of relief as we made our way out their front door.

Universal Job Dissatisfaction

The next day, once again, we’d arrive at work early, and depart on our assignments by 6:30 a.m. Thank goodness it was only a summer job.

Decades later, well into my career, I learned that most people, not merely lifers in the moving business, hated their jobs.

As startling as it seems to those of us who love our work, a majority of American workers either loathe their jobs or couldn’t care less about what they do. These results, coming from a Gallup poll BEFORE the lockdowns, published in The State of the American Workplace Report, reveal that some 30% of Americans are passionate and enthusiastic about their work, and are actively engaged in their tasks on a daily basis. These are the high-performing, highly productive segments of the labor force.

Far Short

According to Gallup, apparently all others fall far short of being actively engaged and nearly 20 million workers are what Gallup terms “actively disengaged.” These workers are unhappy and only too willing to convey their sense of dissatisfaction about the jobs they do. Another 50 million workers are “passively disengaged.”

In all, about 70% of our 100 million person workforce fall into the “I don’t like my job” category. Thus, a broad swath of industries, executives, managers, and supervisors today face a continuing challenge when it comes to enticing the 70% to consistently reach their productivity potential.

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Jeff Davidson is the world's only holder of the title "The Work-Life Balance Expert®" as awarded by the U.S. Patent and Trademark Office. He is the premier thought leader on work-life balance, integration, and harmony. Jeff speaks to organizations that seek to enhance their overall productivity by improving the effectiveness of their people. He is the author of Breathing Space, Simpler Living, Dial it Down, and Everyday Project Management. Visit www.BreathingSpace.com for more information on Jeff's keynote speeches and seminars, including: Managing the Pace with Grace® * Achieving Work-Life Balance™ * Managing Information and Communication Overload®



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Business

Micro-tasking, not Multitasking, for Effective Performance

Professionals who can micro-task are in demand; multitaskers are doing themselves and their organizations a disservice.

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Much as been discussed about multitasking and fortunately, much of what has been written exposes the myth that multitasking represents. Instead of making us more productive and having a greater output, we tend to slow down on the very things that were trying to speed up on, and we end up making more errors.

Micro-tasking, by contrast, is the ability to compartmentalize and to focus in quick, short intervals on a variety of items that compete for attention — a vital skill for career professionals. Micro-tasking is effective for quick decisions, and for handling routine and short term tasks term nature. Multitasking is the attempt to handle two important tasks at the same time. It is not to be confused with micro-tasking.

A Skill to Cultivate

Some workers have little choice in the short run but to work in a distracting, noisy environment. Some employees, in particular, were retained to be able to quickly shift their attention from one issue to another, focusing on each issue as needed.

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In an interruption-based environment, such as a hospital, police station, retail store, or airline ticket counter, the ability to micro-task is a valuable skill. Throughout the course of a day, a manager in such settings might encounter a variety of people asking questions and voicing concerns. For sale managers micro-tasking can make all the difference in making quota or not.

Tasks that require our sharp attention necessitate that we slow down, focus, keep interruptions at bay, and work as effectively as we can, toward completion. Handling two tasks simultaneously, each of which require sharp attention, is a prescription for poor results.

Be in Demand

Professionals who can micro-task are in demand. Others, who engage in multitasking, are doing themselves and their organizations, a disservice.

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When the Market Crashes, There is Only One Place to Hide

Here’s the short, simple reality to understand: in powerful down markets, every asset class gets clobbered.

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Pile of Cash

“This is Wall Street, Dr. Burry. If you offer us free money, we are going to take it.”

-Smug, Know-Nothing Goldman Sachs Chicky in The Big Short

My firm didn’t operate too differently from the above statement, frankly. but there was that one time we said no…

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In 2007 or 2008 – I don’t recall exactly – a mutual fund client asked us to create a defensive portfolio they could launch as a new product.

Sounds simple enough, right? Except, they weren’t looking for a portfolio loaded with utilities, healthcare and consumer staples.

What they wanted was a portfolio of stocks that would rise when the market was falling (it already was falling, but Wall Street is just as good at closing the barn door after the animals have left as are elected officials).

I suspected this would be tough to create. Once we ran our studies, indeed we realized this was an impossible request and for the first time ever, we declined the portfolio request.

Here’s the short, simple reality to understand: in powerful down markets, every asset class gets clobbered. *

Put in a more fancy-pants sounding, Wall Streety way: during crashes, correlation skyrockets. In this case, it was effectively impossible to create a portfolio of stocks that would rise in a crashing market; all stocks crater in that environment.

Correlation is measured on a scale of -1 to 1. A reading of 1 defines perfect correlation, -1 is perfect inverse correlation and 0 means no correlation at all.

A reading of 1 is easy to understand but think of the others this way. The correlation of wearing surgical masks and the spread of covid almost certainly resides near zero. Jen Psaki’s relationship with the truth? Probably a -.9 or so.

As an aside, both high and low correlations have value. For instance, we had a good friend in college who we came to realize had a sense of direction that had to be very close to a full negative 1. If he were in the car and thought we should turn left, the rest of us knew with total certainty to go right.

With correlation, readings at or near 1 and -.1 are rare in anything that actually requires study, so measurements above .4 already start to imply strong correlation.

When we looked at the historical track record we found that in severe downturns, all asset classes fell with the market at correlations above .5. It was eerie.

What about foreign stocks? Um, no… that’s actually a double whammy of bad news. Not only do their markets get hammered at least as hard as ours, currency declines magnify those losses. We can all appropriately hate what our leaders are doing to destroy the U.S. Dollar, but in a world of fiat currencies it is ours the world runs to as the safe haven. Most foreign currencies decline in value as a result.

Cryptos? Who the hell knows, but why would they be spared if gold isn’t?

Wait, what about gold? Yeah, it will probably act like a safe haven in a down market but in this case that probably means it will just decline less than stocks overall. For instance, while the Dow literally got cut in half from October, 2007 to February, 2009, gold’s peak-to-trough decline in 2008 was fully 25%.

By being down “only” 25%, did gold perform better than the market? Yes, but correlation of the direction of the movement skyrocketed even in this safe-haven asset class.

Quick disclaimer: I currently own gold and silver and will be holding these positions. But I hold them in the proper size and I am also expecting them to initially decline when the market really tanks.

Important note: if you’re holding gold and silver mining companies – which, after all, are just stocks – you can expect them to get hammered just as hard as all the stocks around them. The relative outperformance of bullion itself won’t save them; again, just go look at 2008.

Okay, so what the heck should someone do right now?

Well, I don’t like giving “right now” investment advice so I’ll say what I have been saying all year to close friends and family: if you’re fully invested, raise at least some cash in your portfolio. I’ve been advising a minimum of 20% but that figure will vary depending on your personality.

As I’ve been telling them, think of it this way: if I’m wrong and the market keeps ramping higher on the back of all this stimulus – and that indeed is the only reason the market has continued its 2021 surge, btw – and you’re still 80% invested, you’ll still be making a lot of money and you’ll feel okay about it. Sure, you’ll mutter that I was early with this advice – I have been all year and still could be depending on central bank responses to this decline – but you won’t resent me for the input.

If you stay fully invested, however, and the market tanks by 40%, you’ll feel ill. Having some cash on the sidelines provides for a rainy day, keeps something available with which to buy stocks near future lows and, most importantly, will do wonders for both your decision making and your psyche.

When people get stuck for cash – margin calls, mortgage payments, whatever the need may be – they make all sorts of bad decisions. They’ll sell whatever they have to and often, it’s psychologically easier to sell their “winners” along the way than it is the stocks that have been crushed the most. What many people end up with at bottoms is a portfolio full of the crappiest individual names.

‘Oh great,’ you may be thinking, ‘you’re telling us this on a day when the market is already down 500 points. Thanks a lot.’

True. Actually, I’ve had this post 80% drafted for the last 10 days or so, it just felt like that this might be the jarring market day in which readers would take it seriously. Let me explain by doing a little mind reset with you:

You may have a 401k that had risen, say, from $200k to $500k over the last three years (until 2 weeks ago). Awesome! But unsustainable.

After the market weakness of the last couple weeks, maybe its value has declined to $450k. If you’re the type that thinks my advice makes sense, but you don’t want to sell any stocks or mutual funds because they just fell from $500k, your mindset is all wrong. Sorry to be so blunt but it’s true.

Here’s what you actually have on your hands: a 401k that has risen from $200k to $450k over the last three years. Still awesome, also unsustainable.

If you think you’re the one genius who can nail market tops perfectly and you’re now certain that the market will soon regain its recent highs, re-read my last sentence and get your head on straight.

That said, at this moment I do have to admit that I don’t know if this is the start of the big correction. On the one hand, a few too many people for my taste are looking for that crash. On the other, how insanely optimistic did the market have to be that only now it is noticing the slow-moving Evergrande disaster in China that has been known for a year and plainly visible for nearly a month?

Regardless, the point is this: if this is the start of the big correction – or even a true bear market – then this is only the beginning.

We’re at such stratospheric valuation heights – the highest in history, generally – that the next big correction will take stocks down 30, 40 or even 50%.

So yes, it’s still okay to be raising at least some cash today. Even today.

Tighten up stop losses. Raise cash right now from zero to 5% if your end goal is 20%. Redirect future 401k deposits to the money market fund rather than the high-growth stock funds you’ve been riding.

In short: take action. Don’t be paralyzed and again keep in mind this simple reality: in powerful down markets, nothing gets spared. The only place to hide is in cash.

This post has me re-awakened. More soon…
FDG

*Historically, there has been one other place to hide in down markets: high grade, U.S. bonds. That will likely still turn out to be the case – indeed, bonds are rallying today – but what’s the point? The rates offered by today’s bonds are so meaningless as to be roughly equivalent with cash so my preference at this moment in time is for cash.

 

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