By: Joanna Haerle, W.E. O’Neil Construction Company

January 1, 2009

In the midst of one of the nation’s worst financial and economic crises, CREW Chicago held a timely discussion on navigating career and compensation challenges at a members-only luncheon on October 29th. Sharon Krohn, Principal of Sharon Krohn Real Estate Executive Search and CREW Chicago Past President, led an informative panel consisting of Donna Stettler, Director in Deloitte Consulting’s Human Capital Practice; Cindy Wozny-Carl of ChangeWorks Consulting and current CREW Chicago President; and Eve Valeria West, SVP and Managing Director of Administration at MB Real Estate.

The message sent was to look at the total compensation package including perks and incentives when considering new or changed positions. Companies are moving towards more performance-based incentives to maximize efficiency, and packages are heavily weighted on these incentives, including long term ones like stock options which may not be as appealing today since 63% of company stock options are priced at less than current market value. The new business strategy is shifting business plans to target a down economy, including cutbacks in spending and shifting of talent so that people may be asked to do different jobs. One way to set yourself apart is to be a client problem solver.

If you are experiencing a personal transition, tips offered were:

• Decide what you want and what’s out there and then adjust for the gap.
• Be a specialist responding to what the employer is looking for, not a generalist.
• Network…network…network.
• Be open to change.
• Translate your skills to something new.
• Stay positive and healthy.