Many Houstonians are unemployed, laid off, or furloughed amid the pandemic. Others are literally burned out and ready for a life-altering career change. This expert has advice for both. Photo via Pexels

I've had so many pivots in my professional career; moving across the country, internal promotions, leaving a corporate job to launch my own company, and repositioning myself and my brand in new markets. But I'm one of those people who enjoy lots of change, and as I've continued in my career journey, I've found that those sentiments are not shared by many.

Making a career transition can not only be stressful for a majority of professionals but can paralyze people from making decisions that carry their livelihood alongside them. This is one reason I am fueled to help professionals, to be a support system for these complexities and helping them make decisions based on facts and strengths, not on fear.

As a career coach, it's my job to find a way to piece together years of experience for professionals in order to tell a story of growth, change, and transferable potential to sway key decision-makers for employment and economic opportunity.

Over the past several years, I've seen many trends in client challenges, storytelling similarities and developed a knack for helping people with complex stories make a successful career or entrepreneurial leap.

A new approach to career transitions

But then at the end of 2019, COVID-19 crept across Asia, slowly derailing markets, leading me to shift my focus to supporting my European clients as they began their lockdowns.

Job offers were being taken off the table, hiring freezes were put in place and travel required a two-week quarantine at either end. The fear in each of my clients' voices was palpable, and my resolve needed to be strong. I needed to stay steady, calm, and think more strategically than ever before to help them navigate this unchartered territory.

Within two months, the United States had been infiltrated by the virus, and the layoffs and furloughs began piling up. Now I was working across nations and states going through different phases of impact and needing to understand how to support these entrepreneurs and professionals in navigating through this.

Navigating the nuances of career change

What I realized is that I already had these answers. Navigating complexity has been my place of zen and working with intelligent, hungry individuals like yourselves continued to fuel my ability to innovate strategy and make a significant impact on career transitions.

I began to divide clients into priorities: furloughed and need work, laid off, overworked and need an exit, career epiphany, and entrepreneurs needing to reevaluate their business models.

If you were furloughed, there was a sense of hope, anxious to return to the workforce, and leaving bitterness for many when that call never came. In the state of Texas, 2.5 million professionals have lost their jobs, and only 1.8 million returned to work in 2021 to date.

In Houston, unemployment rates have maintained a high rate of about 8 percent in recent months. At the peak of COVID-19, the unemployment rates spiked significantly to more than 14 percent which translates to a large number of qualified people out of work.

Laid off and evaluating next steps

For those who were laid off, we had to evaluate financials. Was this a three-month endeavor or an ASAP, "my electricity will be shut off in two weeks if I don't find a job" scenario?

That dictated how we approached it. For the longer timeframe, we looked at roles carefully and targeted the best outcomes, tailored branding documents, and profiles and were highly intentional about applications.

In the second scenario, we made mandatory updates to branding and started the rapid apply approach to line up interviews quickly — even if it was going to be a short stint or a less than a glorious long-term option.

Overworked and anxious

Overworked and anxious to leave their jobs, this group had different desperation in their voice. They had previously enjoyed what they did, had an ambivalent outlook toward their employer, and thought things were 'going well.' This all changed when their support staff was sent home on furlough and those hours and that workload was enveloped by their department. These professionals felt blindsided.

How could things go from 'all is well' to 'get me out of here NOW!' in only a few short weeks? The mental, emotional, and physical stresses were and continue to be a leading factor in the rise in depression across the nation from 20 to 25 percent to 40 to 50 percent.

For this group of professionals, we focused on the role they had before the pandemic hit and those areas of fulfillment. We also focused on boundary setting to help support a move to a company where boundaries would need to be upheld to promote a healthier life balance.

Career epiphany clients

Next were my career epiphany clients. These professionals were awoken from the monotony that was once their career. Working from home, having different priorities, and learning to juggle many hats afforded new perspectives. This also meant that these professionals were no longer fulfilled in the direction of their careers, and were prepared to start anew.

This opened up an entire world of possibilities.

Unlike the career changes who had immediacy and trauma associated with their move, these epiphany clients were optimistic and strangely calm amidst the chaos and weight of this decision. Their priorities were no longer focused on one area but encompassed a much more holistic viewpoint.

And so, having the calm on our side, we would spend time working through their work attributes, close values, and defining their innate drivers in life. This work allowed us to choose roles that spoke to them.

Entrepreneurs

In the last group were my entrepreneurs. These business owners were looking at a brand new market and not knowing how to evolve their business model to fit the needs and budgets of their consumers. So many were filled with doubt on how they could ask for more money, or not have to increase their working hours to make the math work.

Our work felt like an enormous puzzle, putting all the right colors together first, then seeking out the corners and edges, until we could work toward the middle and most ambiguous pieces.

Together we redefined their clients (were they the same? Did they have the same needs now?) and how to best serve them. This required them to get out of their tried and true practices, as needs and budgets have also changed and evolved for their customers and clients. So we reverse-engineered into new pricing and service offerings that would provide immense value in a time when people needed it the most.

Each set of variables were unique, but the mindset and fears were so aligned with one another within each of these groups that I could provide streamlined tools that I knew would work to move the dial in their progression and overall success.

Innovative approach to career transitions

Utilizing resources that I already had, meant I just needed to find innovation in my approach. How was I to get professionals and entrepreneurs to learn and apply at rapid speed? How would I get through to them during this stressful time?

The approach was to give more actionable tools for them to leave each call with purpose and a sense of adventure ahead. I utilized a goal-setting sheet to identify priorities and lead from their reality, rather than standard best practices.

We focused on 4 key areas:

  1. Financials
  2. Growth
  3. Roles
  4. Timeline.

I realized that the biggest fears were in the unknown. So if we could start at a basic framework of knowing what they needed in order to pay bills and not disrupt life more, we could then focus on what was in their ideal, their wants, their bigger goals.

But I found that almost everyone trying to envision more money, or growth in roles during a global pandemic, didn't know how to focus on the future if they didn't know what needed to happen now, in the current state.

Everyone's reality was different, yet the momentum and freedom created by writing down their most vulnerable, essential needs, created a release in their energy and made conversation fill with hope. Having created a tangible plan of action had more impact than ever before. I took this momentum and challenged clients to do their homework, speak to their partners, their families.

With every group of transitioning professionals, this worked. My analogies and anecdotes changed and evolved as the year progressed, but this new starting point was the cornerstone to build confidence and momentum quickly.

Building a new path

As we start to see Texas opening up its businesses and mask requirements starting to shift, we will continue to see people in flux.

Overcoming storms, a pandemic, depression rates increasing, and an influx of new residents, the state will continue to find resilience. But professionals need to understand that before letting fear set in, there are steps you can take to release that pressure and build a new path, a new career, and a new story.

Understand and embrace your reality, write it down, uncover what is leading the fear, then take the first step to eliminate it.

Making a transition takes effort, but understanding your options based on your needs, and then your wants, will help create the movement you need to take that next step and keep moving in the right direction.

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Briar Dougherty, CEO and president of Career Organic, an Atlanta-based career coaching company.

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Baylor center receives $10M NIH grant to continue rare disease research

NIH funding

Baylor College of Medicine’s Center for Precision Medicine Models received a $10 million, five-year grant from the National Institutes of Health last month that will allow it to continue its work studying rare genetic diseases.

The Center for Precision Medicine Models creates customized cell, fly and mouse models that mimic specific genetic variations found in patients, helping scientists to better understand how genetic changes cause disease and explore potential treatments.

The center was originally funded by an NIH grant, and its models have contributed to the discovery of several new rare disease genes and new symptoms caused by known disease genes. It hosts an online portal that allows physicians, families and advocacy groups to nominate genetic variants or rare diseases that need further investigation or new treatments.

Since its founding in 2020, it has received 156 disease/variant nominations, accepted 63 for modeling and produced more than 200 precision models, according to Baylor.

The center plans to use the latest round of funding to bring together more experts in rare disease research, animal modeling and bioinformatics, and to expand its focus and model more complex diseases.

Dr. Jason Heaney, associate professor in the Department of Molecular and Human Genetics at BCM, serves as the lead principal investigator of the center.

“The Department of Molecular and Human Genetics is uniquely equipped to bring together the diverse expertise needed to connect clinical human genetics, animal research and advanced bioinformatics tools,” Heaney added in the release. “This integration allows us to drive personalized medicine forward using precision animal models and to turn those discoveries into better care for patients.”

Houston institutions launch Project Metis to position region as global leader in brain health

brain trust

Leaders in Houston's health care and innovation sectors have joined the Center for Houston’s Future to launch an initiative that aims to make the Greater Houston Area "the global leader of brain health."

The multi-year Project Metis, named after the Greek goddess of wisdom and deep thought, will be led by the newly formed Rice Brain Institute, The University of Texas Medical Branch's Moody Brain Health Institute and Memorial Hermann’s comprehensive neurology care department. The initiative comes on the heels of Texas voters overwhelmingly approving a ballot measure to launch the $3 billion, state-funded Dementia Prevention and Research Institute of Texas (DPRIT).

According to organizers, initial plans for Project Metis include:

  • Creating working teams focused on brain health across all life stages, science and medical advances, and innovation and commercialization
  • Developing a regional Brain Health Index to track progress and equity
  • Implanting pilot projects in areas such as clinical care, education and workplace wellness
  • Sharing Houston’s progress and learnings at major international forums, including Davos and the UN General Assembly

The initiative will be chaired by:

  • Founding Chair: Dr. Jochen Reiser, President of UTMB and CEO of the UTMB Health System
  • Project Chair: Amy Dittmar, Howard R. Hughes Provost and Executive Vice President of Rice University
  • Project Chair: Dr. David L. Callender, President and CEO of Memorial Hermann Health System

The leaders will work with David Gow, Center for Houston’s Future president and CEO. Gow is the founder and chairman of Gow Media, InnovationMap's parent company.

“Now is exactly the right time for Project Metis and the Houston-Galveston Region is exactly the right place,” Gow said in a news release. “Texas voters, by approving the state-funded Dementia Prevention Institute, have shown a strong commitment to brain health, as scientific advances continue daily. The initiative aims to harness the Houston’s regions unique strengths: its concentration of leading medical and academic institutions, a vibrant innovation ecosystem, and a history of entrepreneurial leadership in health and life sciences.”

Lime Rock Resources, BP and The University of Texas MD Anderson Cancer Center served as early steering members for Project Metis. HKS, Houston Methodist and the American Psychiatric Association Foundation have also supported the project.

An estimated 460,000 Texans are living with dementia, according to the Alzheimer’s Association, and more than one million caregivers support them.

“Through our work, we see both the immense human toll of brain-related illness and the tremendous potential of early intervention, coordinated care and long-term prevention," Callender added in the release. "That’s why this bold new initiative matters so much."

Texas launches cryptocurrency reserve with $5 million Bitcoin purchase

Money Talks

Texas has launched its new cryptocurrency reserve with a $5 million purchase of Bitcoin as the state continues to embrace the volatile and controversial digital currency.

The Texas Comptroller’s Office confirmed the purchase was made last month as a “placeholder investment” while the office works to contract with a cryptocurrency bank to manage its portfolio.

The purchase is one of the first of its kind by a state government, made during a year where the price of Bitcoin has exploded amid the embrace of the digital currency by President Donald Trump’s administration and the rapid expansion of crypto mines in Texas.

“The Texas Legislature passed a bold mandate to create the nation’s first Strategic Bitcoin Reserve,” acting Comptroller Kelly Hancock wrote in a statement. “Our goal for implementation is simple: build a secure reserve that strengthens the state’s balance sheet. Texas is leading the way once again, and we’re proud to do it.”

The purchase represents half of the $10 million the Legislature appropriated for the strategic reserve during this year’s legislative session, but just a sliver of the state’s $338 billion budget.

However, the purchase is still significant, making Texas the first state to fund a strategic cryptocurrency reserve. Arizona and New Hampshire have also passed laws to create similar strategic funds but have not yet purchased cryptocurrency.

Wisconsin and Michigan made pension fund investments in cryptocurrency last year.

The Comptroller’s office purchased the Bitcoin the morning of Nov. 20 when the price of a single bitcoin was $91,336, according to the Comptroller’s office. As of Friday afternoon, Bitcoin was worth slightly less than the price Texas paid, trading for $89,406.

University of Houston energy economist Ed Hirs questioned the state’s investment, pointing to Bitcoin’s volatility. That makes it a bad investment of taxpayer dollars when compared to more common investments in the stock and bond markets, he said.

“The ordinary mix [in investing] is one that goes away from volatility,” Hirs said. “The goal is to not lose to the market. Once the public decides this really has no intrinsic value, then it will be over, and taxpayers will be left holding the bag.”

The price of Bitcoin is down significantly from an all-time high of $126,080 in early October.

Lee Bratcher, president of the Texas Blockchain Council, argued the state is making a good investment because the price of Bitcoin has trended upward ever since it first launched in early 2009.

“It’s only a 16-year-old asset, so the volatility, both in the up and down direction, will smooth out over time,” Bratcher said. “We still want it to retain some of those volatility characteristics because that’s how we could see those upward moves that will benefit the state’s finances in the future.”

Bratcher said the timing of the state’s investment was shrewd because he believes it is unlikely to be valued this low again.

The investment comes at a time that the crypto industry has found a home in Texas.

Rural counties have become magnets for crypto mines ever since China banned crypto mining in 2021 and Gov. Greg Abbott declared “Texas is open for crypto business” in a post on social media.

The state is home to at least 27 Bitcoin facilities, according to the Texas Blockchain Council, making it the world’s top crypto mining spot. The two largest crypto mining facilities in the world call Texas home.

The industry has also come under criticism as it expands.

Critics point to the industry’s significant energy usage, with crypto mines in the state consuming 2,717 megawatts of power in 2023, according to the comptroller’s office. That is enough electricity to power roughly 680,000 homes.

Crypto mines use large amounts of electricity to run computers that run constantly to produce cryptocurrencies, which are decentralized digital currencies used as alternatives to government-backed traditional currencies.

A 2023 study by energy research and consulting firm Wood Mackenzie commissioned by The New York Times found that Texans’ electric bills had risen nearly 5%, or $1.8 billion per year, due to the increase in demand on the state power grid created by crypto mines.

Residents living near crypto mines have also complained that the amount of job creation promised by the facilities has not materialized and the noise of their operation is a nuisance.

“Texas should be reinvesting Texan’s tax money in things that truly bolster the economy long term, living wage, access to quality healthcare, world class public schools,” said state Sen. Molly Cook, D-Houston, who voted against the creation of the strategic fund. “Instead it feels like they’re almost gambling our money on something that is known to be really volatile and has not shown to be a tide that raises all boats.”

State Sen. Charles Schwertner, R-Georgetown, who authored the bill that created the fund, said at the time it passed that it will allow Texas to “lead and compete in the digital economy.”

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This story was originally published by The Texas Tribune and distributed through a partnership with The Associated Press.