Decision Making – Page 14 – mardihumphreys.com

On the Road Again

Like Dorothy Parker, every day we wake up and wonder, “What fresh hell is this?” Ukraine, monkeypox, Roe v. Wade, the lingering effect of COVID’s mutations, mass shootings, extreme weather events…not only is 2022 taking a toll on your mental health, but it’s also taking a toll on your wallet.

In a good economy your car is a major expense. It’s even more so during the inflation we’re experiencing right now. Hopefully, the situation is temporary. While we wait to find out, here are some things you can do right now to save money on driving.

One

Can you get by with one car? How about no car? If you live in a walking city and work remotely, think about what you use a car for. If all you can come up with is the occasional weekend away or driving for holiday visits across a state or two, you could rent a car for those occasions. Selling your car pays off your loan if you have one. It also saves you money on fuel, maintenance, repairs, and insurance.

Insurance

Speaking of insurance, if you used to commute to work and are now working remotely, contact your insurance company and ask for a discount. Insurance premiums are based on risk. The fewer miles you spend on the road, the less risk you have of getting into an insurable accident. Find out if your provider offers a low-mileage discount and if you qualify for it. Not all insurance companies have the same parameters, so if you don’t qualify for your current insurance company’s low-mileage discount, comparison shop.
Do you own both a house and a car? Do you rent your residence and own a car? Do you have life insurance? Do you own a boat and/or a motorcycle? Ask your insurance provider about discounts for bundling multiple policies.
Do you have more insurance than you need? Everyone’s situation is different, so here are some guidelines. If you are carrying too much, right-size your policy.
Keep your FICO score high Some banks let you check it without negatively impacting it and even notify you when it changes. A higher credit score can lower your auto insurance premium.

Wait

If you can put off purchasing a new vehicle until 2023, do. The usual advice on saving transportation money is to sell your car and buy a used, late-model, economy car, but right now, finding those is difficult. Even If your car needs a major repair, if you can maintain your ride another year, it’s still likely to cost less than buying another one.

Gas

Carpool with a coworker
Sign up for your favorite grocery’s fuel rewards program
Download and use a fuel comparison app
Drive the speed limit
Make sure your tires are properly inflated
Use cruise control
Remove items that inhibit the aerodynamics of your vehicle (e.g., roof racks, bike racks)
Don’t drive if you don’t have to. For example, combine multiple errands into one trip, use your grocery’s delivery service, etc.

What are you doing to save money on transportation costs? Please share in the comments.

Don’t Believe Everything You Think

It’s Memorial Day weekend; the official start of summer recreation. School lets out, community pools open, and outdoor concerts shift into high gear. Does anyone else feel weird about kicking off summer fun with a holiday based on mourning the military personnel who died while serving in the United States armed forces? No? Just me? Okay. The sacrifices they made secured the freedom we enjoy. We pause, remember, and are grateful.

Speaking of weird, how is your adjustment to working in person going? We endeavor to discuss the evolution of work in dispassionate, detached, and practically Vulcan tones, but under the calm exteriors, all the feels are brewing.

Employees want more freedom over where and when work gets done. Employers are afraid to give up that much control. Changes like a four-day work week, WFH options, and bringing your dog to work are just the beginning. They lead to other debates like, What about unlimited PTO? How about healthcare insurance coverage from day one? Will the company offer stock options?

The attention both employers and employees have to pay to these emotionally charged topics is exhausting on top of the work that needs to get done. Often, when you’re weary, emotions, especially the negative ones, lead the conversations instead of interpret them. Under what circumstances is it okay to express strong emotions at work?

Emotions are contagious and can escalate an exchange into an argument. In the absence of communication, negative emotions are even more dangerous because where information is absent, your brain fills in the blanks.

For example, if your manager keeps putting off approving a time-sensitive decision, you don’t know why they aren’t giving you an answer. You can assume they are thoughtfully processing the possible implications of their decision. It’s more likely you’re going to assume they’re putting you off because they forgot about you or don’t respect you. These negative thoughts produce negative emotions that fabricate a story you believe is the truth. Then, you may get angry and make a decision without your manager’s sign-off. You tell yourself you will ask for forgiveness if it turns out they don’t approve.

But, what happens when you discover the story you told yourself is false? Now you’ve damaged the trust between you and your manager. How do you recover from that? What do you learn from it? How do you fix it? What triggers do you put in place to prevent it from happening again? (Recommended reading: Rising Strong, by Brene Brown)

During this transition from the way work was done to the way it will be done, it’s crucial that you manage your thoughts, feelings, and perceptions. You must pay attention to what you give your attention to. Be an active listener. Summarize and repeat back what you think you heard. Presume everyone is on the same team and working toward what is best both for the organization and for each other.

When was the last time you had to stop your brain from filling in a communication gap at work? Please share in the comments.

Nature vs Nurture

“The world hates change, yet it is the only thing that has brought progress.”
Charles Kettering

Recruiting and retaining talent has been a challenge ever since prehistoric tribal chiefs realized that they had enough gatherers and began persuading some of them to try hunting. As the years passed, population growth allowed employers more choices. When they needed more workers some employers, like the prehistoric tribal chief, saw who currently worked for them and upskilled them to accomplish the new goal. This changed the company’s working environment. Other employers reached out and found people who already had the necessary skill and hired them. Employers’ expectations not only dictated who did the work, but also what, where, when, and how the work got done.

Priority Shift

Since the information age began in the 1970s, the evolution of work and the workforce needed to do it, have incrementally shifted the power of negotiating the terms of employment away from the employer and toward the employee. COVID-19 ushered in the Great Rs (Retirement, Resignation, Reckoning, Reshuffle) spotlighting the fact that employees feel like they are done with living to work and instead want to work to live. They want to integrate work into their lives, but not necessarily make their job their top priority. Yet plenty of organizational leaders are resisting this change. They insist on maintaining a traditional, pre-pandemic business environment while simultaneously trying to both retain current employees and attract new ones. You can spot some of these companies by their reactions to the workforce shortage. For example, their attempts at luring talent include hour wage hikes and signing bonuses. This practice is not only unsustainable, but also unattractive to potential employees and resented by current ones.

Share and Share Alike

Wise leadership will retain and recruit employees by cultivating a more transparent and inclusive work environment. COVID revealed that traditional hierarchical leadership is a lot less valuable now. Business runs at the speed of trust. A company managed by leadership that keeps both data and opportunities to themselves, instead of being open about employee pay metrics and career growth, won’t stay in business very long. These are the organizations who continue to believe in the myth of the messianic figure with a Midas touch that will fix everything. They continue to ignore the tendency of this type of leader to be a fixed-mindset dictator. Employees used to work for this type of leader because they were afraid of losing their jobs, but now, not so much. The companies run by servant leaders who both hire talent with strong soft skills and create a culture of growth by implementing diverse ideas, building a strong foundation of trust, and sharing credit for success, are the companies that will successfully retain and recruit talent during the next Great R.

This evolution was happening pre-pandemic, but progress is like turning the Titanic around. Those in power naturally want to maintain the pre-pandemic status quo, but there’s no going back to what was considered normal. Smart employers will figure out whether or not they want to stay in business and what changes they are willing to make to do so.

What changes would you like to see regarding the way work gets done? Please share in the comments.

Time for a Change

Given my fascination with the Great Resignation and all its iterations, it was only a matter of time (or, in my case T.E.A.M.) before I participated in it. I dove into the Great Reshuffle when I recently accepted a new position. As a former Change Agent, you’d assume that I’m prepared for the adjustments necessary to negotiate the transition to a new job. Well, you know what assuming does. (If not, DM me.) The phrase I used to calmly repeat to clients, I now have to incessantly repeat to myself, “Change is hard; even when the change is good, it’s still hard.” If you’ve ever changed roles, moved to a new team, or joined a new organization, you feel me. Here are three things I’m still learning about change.

Failure is Data

You’re going to make mistakes and mistakes do not equal failure. The only time failure happens is when you quit trying. Mistakes provide valuable information for improving your processes. They reveal where you need to set triggers so that you will avoid making the same mistake twice. You can use mistakes to both increase the speed at which you learn new procedures and decrease your learning curve.

Slow Your Roll

I often preach at you to stop and think. You should also stop and feel. What are your emotions telling you? Is joy cheerleading? “Wow! I can’t believe I’m on this team!” Or is fear whispering? “Wow. I can’t believe I’m on this team.” The first feeling reinforces your decision to change as a positive move. The second feeling should prompt you to take a five-minute break and, while drinking a bottle of water, ask yourself the five whys. For example:

Why does being assigned to this team make me feel nervous? Because everyone else on this team is a rockstar.
Why are they considered rockstars? Because they get highly visible projects.
Why do they get highly visible projects? Because they all crush their KPIs every month.
Why do you think that is? Because they do more outreach than anyone else.
Why don’t you ask one of them for advice on effective methods of outreach?

Build Bridges

Walt Disney was right. It really is a small world. It’s likely that you’ll encounter former coworkers in the future, especially if you still work in the same industry and/or the same small city, so it’s wise to only speak positively about them. You may have health coverage and/or a retirement plan with your former company that requires Human Resources’ help to tie up those loose ends, so be polite and responsive when they ask for your input. Write a thank-you note for all of the opportunities your former employer gave you and publish it on your social media. Your LinkedIn newsfeed usually has plenty of examples you can follow.

Remember that your participation in the Great Reshuffle affects others. Whether you have a partner, a parent, or a pet, everyone in your circle of influence is impacted by your change. If you will intentionally be kind, repeat how new processes will work, and get some rest, then both you and your loved ones will adjust faster.

Have you participated in the Great Reshuffle? What changes have you made? Please share in the comments.

Another Day, Another Crypto

I led an Is It Worth Your T.E.A.M.? workshop for a group of young professionals recently. One of the questions we worked through was about investing money. There were usual questions like, Should you invest in property or stocks? Then one participant said he felt like it was time to do some serious research on cryptocurrency. I realized that it had been a couple of years since I even thought about cryptocurrency and, at the time, I dismissed it as an experiment that probably wouldn’t go anywhere. But this year, I’ve seen television commercials for tax preparers offering to make sense of how to report your cryptocurrency income to the government. Guess it’s time to take another look and see how the experiment has iterated.

What Is It?

Cryptocurrency (AKA Crypto) is a purely digital form of money. There are currently over 10,000 different cryptos. Bitcoin is the original and the most popular. Crypto comes into existence through a process called mining. It’s a bit like a modern version of mining for gold, but instead of a person panning in a river, data centers solve mathematical puzzles to produce coins. Also, much like a gold miner spent a great deal of human energy panning, data centers use a great deal of electrical energy computing. This makes mining crypto environmentally unfriendly. Regular currency is backed by banks and governments, but crypto is administered by blockchain. This is a type of technology that acts like its name. A block is a set of transactions that are validated by an online network. The blocks are strung together to form a ledger. The ledgers form a database that is shared by nodes (e.g., a small server) in a computer network. Since the blockchain is a distributed network, this decentralized transaction record system is considered very secure.

How Do You Use It?

Right now, there aren’t many places accepting crypto for purchases. It’s mostly an investment option and a volatile one. You buy and sell it on exchange websites like this one. If you choose to invest in crypto, please remember to bankroll your emergency fund, pay off debt, and set up a system for saving for retirement first. Think about limiting crypto to 10% (tops) of your investment portfolio. Even though it’s trendy, most investors continue to choose gold over crypto due to the current inflation and Russia’s invasion of Ukraine.

Does It Have a Future?

So, it seems that not much has changed since the last time I researched crypto. We are still in the early-adoption phase, but major financial institutions are starting to get involved. Recently, Fidelity announced it would offer a bitcoin option in their 401(k) plans. I imagine that eventually using crypto will be much like online banking transactions. To reach that goal, crypto administrators must figure out how to battle scams, how to scale it, and how to stop the environmental damage mining causes. In spite of the challenges, crypto is predicted to exponentially grow by 2025.

My research indicates that cryptocurrency is polarizing; you either love it or you hate it. Which side are you on? Please share what you think about it in the comments.

Child-free by Choice

WARNINGS: In honor of Mother’s Day, this is a woman-centric conversation. Also, I have a lot of questions.

Why do people assume that women have a responsibility to reproduce? Men get questioned, but do they get shamed for not having children? Parenthood is a social convention not a natural condition. Raising children in America is arduous and, if you participate in the workforce, it’s difficult to be both a mother and an employee.

The Way It Is

From birth, society bombards females with the message that job, marriage, and kids are what make you successful and therefore, happy. Women who intentionally choose a child-free lifestyle inevitably deal with periods of powerful anxiety and self-doubt regarding their decision because culture warns women that they will eventually regret not becoming a mother. Those who choose not to have children get labeled selfish, self-absorbed, and shallow. They are accused of hating children, but child-free represents a lifestyle choice not animosity. For example, Betty White supported St. Jude Children’s Research Hospital, Dolly Parton founded Dolly’s Imagination Library, and Oprah Winfrey built The Oprah Winfrey Leadership Academy for Girls.

Let’s Be Honest

Parenting is really hard – The United States does not have a national paid parental-leave program, childcare is expensive and hard to find, and mothers are expected to assume the bulk of the responsibility for raising children. The pandemic threw a spotlight on these barriers to mothers’ participation in the workforce challenging women to seriously reconsider what responsibilities they can realistically manage.

Motherhood does not make you content – Women are increasingly defying societal conventions en masse and thinking about their “why” in terms of motherhood. Research shows that in the 1970s one out of 10 women reached menopause without giving birth. In 2010, the rate was one out of five.

The biological clock is a myth – Not every woman has an innate desire to reproduce, but if your friends are having babies, you may feel left out. Ask yourself, “Do I really want to be a mother? Or do I just want to want to be a mother?”

The Decision

There are plenty of reasons for remaining child-free:

You are a complete human without the experience of motherhood
You do not have adequate support and/or resources
You have trouble taking care of yourself
You’re considering motherhood because others expect it from you
270 more

If you like your life the way it is (you travel, value freedom and spontaneity, need lots of alone time), then it is better to not have kids and regret it later than to have kids and regret it later.

If you are a woman living in America and considering motherhood, take a listen to the We Can Do Hard Things Podcast Episode 6 OVERWHELM especially the beginning of the Hard Questions segment starting at 31:03. This is an honest conversation around what is considered normal regarding “the gig” of motherhood as it currently exists in American society.

What do you think of the state of motherhood in America? Please share in the comments.

Battery Low

I have a wireless headset that audibly notifies me of certain conditions. When it connects she says, “Your headset is connected.” When it’s about to turn itself off because it needs charged she sternly announces, “Battery low.” I wish my brain would issue the same warning when I spend too long on a project without a break.

One of the factors in the Great Resignation is employee burnout. Are you fanning those flames? While growing up, maybe your parents and teachers trained you to finish your chores and homework before you were allowed to play. Now you’re internally compelled to finish a project before you can rest. The problem with that mindset is there’s always another project waiting.

I heard a word recently that’s stuck in my head: fallow. It’s an agricultural term referring to a field that annually grows crops and is intentionally set aside for at least one growing cycle. Going fallow allows the soil to recover. It gets rid of germs, stores nutrients, and retains water. I keep coming back to this concept in relation to my brain. When I think about letting my mind go fallow, I think of taking a vacation, a weekend off, or at least a lunch period. To me, getting rid of germs, storing nutrients, and retaining water sounds like washing my hands then eating a salad and chasing it with a bottle of water. But I’m beginning to think we all should let our minds go fallow multiple times during the workday. Research shows that breaks make us more effective, but are we taking them? If so, then are we doing them right?

What a break is not:

Switching from one task to another
Reading and replying to email
Returning calls
Running office errands
Cleaning

What a break is:

Standing up and stretching
Walking away from your workspace and equipment; around the block, if possible. Do something to temporarily get your blood flowing a little faster
Read a chapter in a novel
Text a friend
Play Wordle

Benefits

Some benefits of taking breaks are intuitive. For example, they recharge your energy, refocus your attention, and battle job burnout. There are also some not-so-intuitive benefits like increased productivity, physical and mental restoration, and increased employee engagement.

Methods

It’s counterproductive to only take a break when you’ve reached exhaustion. If brief rest periods make you feel guilty, then think of them as productivity breaks. Train yourself to perceive a pause as an efficient element of your energy management routine. Here are a few verified methods to help you develop a good habit.

Pomodoro Technique – 25 minutes of work, then a five-minute break, with a 15-minute break at least once every two hours.

Microbreaks – Five-minute breaks randomly taken at your discretion.

The Draugiem Group Way – in 2014 this company ran an experiment with their employees regarding the optimum time for breaks. Their findings indicate that working for 52 minutes then taking a 17-minute break is what the most productive members of their staff did.

How do you incorporate breaks into your workday? Please share your strategy in the comments.

Too Young to be Done

Given that the Great Resignation is slowing down a bit and we are squarely in the Great Reshuffle, the Great Reckoning, and the Great Renegotiation, now may be a good time for those who participated in the Great Retirement to re-enter the workforce. The longer employees hold out for working conditions that better accommodate their lives, the sooner employers will have to consider both retaining and hiring non-traditional employees.

Good News and Bad News

The good news is, we’re living longer. The bad news is, we’re living longer. Current life expectancy in the United States is 78.99 years, but a 40-year-old employee is considered old according to the Age Discrimination in Employment Act (ADEA). Even the federal government recognizes that the older we get, the fewer opportunities we have. Ageism is real, a waste of talent, and hard to prove. For example, you’ve probably heard myths about older workers such as: they lack energy, they are technologically incapable, and they aren’t willing to learn new ways of doing things. But don’t you know 28 year olds that fit that description too? Take a look around your company. Who is getting hired? Who is getting offered early retirement packages? Is anyone talking about how mature employees are typically:

more loyal
not interested in climbing much higher on the corporate ladder
good decision makers
effective communicators and managers
time flexible because their kids are grown and flown
less concerned about feeding their egos
energized by working with diverse teams

You haven’t heard those talking points? I suspected as much. But wise companies will figure out how to retain older workers. It costs more to hire employees than to hold on to them. Gone are the days when an organization could replace a long-term individual contributor with an unpaid intern.

Go For It

Everyone in the workforce over 40 years old has faced a job hunt, so don’t let pride sabotage your search. If you decide to come out of retirement, but don’t know where to start, reach out to former colleagues for coffee and catchup. When the opportunity presents itself, be ready to briefly tell your story and be clear about what you’re looking for. Not sure what you want to do?

Get involved with an organization like Silver is Gold
Consider part-time, seasonal, and short-term contract positions
Contact a nonprofit and volunteer. Do they need board members? Do they have working committees?
If you want to go back to work in a different industry than you left, can you job shadow someone in your area of interest?
Do you know any start ups that need help?
Does anyone in your network know any entrepreneurs who will trade experience for work?

The way work gets done is rapidly evolving. If there is work you’ve always wanted to do, there is no better time to go for it than right now.

Have you joined the Great Reshuffle? Please share your experience in the comments.

The Waiting is the Hardest Part

Income tax filings are due next week. If you owe, then you have my sympathy. If you will receive a return, congratulations! (Although, perhaps we should discuss how using the government as a forced savings account may not be the wisest choice…) While waiting, you may already be contemplating what to do with your income tax return. Should you save it? Should you treat yourself? Should you invest it? Your self-control super power can help you make this decision.

Stop and Think

Should you buy the Apple Watch Series 6 or stick with the SE you currently own? Should you deposit the return in your long-term savings account so that it’s easily accessible when you want to spend it later? Should you invest it in your IRA and not spend it for several years? You know putting money away in your emergency fund is always a wise choice, but it’s hard to fight the temptation facing you right now. To control your spending, stop and consider what you already have. Then, determine the value of buying more stuff. For example, Is the Apple Watch Series 6 an exponential upgrade from your SE? Do you have to purchase it right this second? Walk away while telling yourself that you’ll revisit it after your income tax return arrives. There’s a good chance that the Series 6 you feel like you can’t live without today will lose a bit of its lure by then.

Pause and Play

Can you afford to be generous? Think about allocating a percentage of your income tax return to spend on someone or something you love. For example, you could plan to take your kids out to a movie, your partner to a minor league baseball game, or a friend for a manicure. Are you back to eating out at locally owned restaurants? Make a mental note to generously tip your server. Do you go to church? Consider dropping your designated dollars in the offering plate or use the giving app. Is there a nonprofit organization you feel passionate about? Donate to it. Fun fact: if you donate to a church or nonprofit, you may be able to claim it as a tax deduction for this year.

Refine and Iterate

Use the wait to audit your budget process. Evaluate whether or not it still serves you well. If the word “budget” feels too restrictive to you, then call it something else, like “freedom plan.” A budget is simply a strategy that empowers you to reach financial freedom. The typical budget advice is to divide your net income into a 50/30/20 split: 50% should go to your basic needs like food, clothing, and shelter. Spend 30% on self-care. Save or invest 20%. Disclaimer: This is not my favorite advice because it makes no mention of charitable giving. If you feel overwhelmed, try a budgeting app.

If you adopt a mindset that it’s fun to speculate what to do with your income tax return, then it’s easier to exercise self-control over where it will go. That gives you something money can’t buy, peace of mind.

Spend, save, give, or invest. Which are you doing with your income tax return? Please share in the comments.

Join the Resistance

When you give something your attention, you’re letting it rule your life for however long you think about it. This can be good, like visualizing what you want your slide deck to look like for next week’s presentation, or bad, like reliving last week’s argument with your supervisor. When it comes to deciding the best use of your time, energy, attention, and money, what you say no to is just as important as what you say yes to.

Attention Management

Attempts to increase productivity trace at least as far back as 1890 when William James wrote The Principles of Psychology. One of his statements is profound in its prophecy. He said, “My experience is what I agree to attend to.” Managing your attention is key to maintaining your priorities. Sounds easy, right? Then what’s stopping you from achieving your goals?

I can resist anything except temptation.
Oscar Wilde

The brainpower necessary to make wise choices is exhausting. Should you eat the doughnut or the apple? Should you watch TikTok or go for a run? Should you proofread your report or text your friend? When you concentrate on trying not to do something, it captures your attention. You’re more likely to give in to the temptation and do the very thing that you’re trying to resist. Instead, distract yourself. Also, limit your proximity to the temptation. For example, if you want to resist the doughnut and eat the apple instead, then hide the doughnut and put the apple at your workstation. Go for a walk around the block before eating anything.

Recognize the Real Enemy

Setting boundaries is easy. Holding them is difficult. Attention is like a muscle. You have to build it. You strengthen and lengthen your attention span every time you identify who, what, when, where, why, and how you got distracted from your goal. Then, change one or more of those variables to produce your desired result. For example, I’m a process improver. I analyze undesired results and reverse engineer them to identify where the outcome began to veer off course. Then, I imagine different choices to envision how they each may produce more desirable results. In terms of self-control, this could look like:

Undesired Result – Your deliverable was late
Veered off course – You missed one deadline
Analyze –
- Were other projects with similar deadlines competing for your attention?
- Was the deadline not communicated?
- Was the deadline communicated but you forgot to calendar it?
- Were you waiting for someone to get back to you with key information?
- Were you interrupted by an emergency?
- Were you distracted by social media?

The answers will dictate the next iteration of the deliverable process. For example, if you missed the deadline because you couldn’t resist the temptation to scroll through social media for hours everyday, then locking your phone in a drawer until break times will be added to the process because it will help you control your technology, behavior, thoughts, and environment. All these are factors that can distract you from reaching your goal.

How do you manage your attention? Please share in the comments.