Here Comes the Sun

Where is the sun? It has surely been a long, hard, lonely year for many of us as first Covid, then the war in Ukraine, gas shortages and rising prices, and now inflation all seemed like a perfect storm threatening to derail the world economy and scare us all into hiding under the bed.

However, Barrett Group clients have enjoyed better than average weather as more than 200 have landed executive positions so far this year due to our tried and true five-step process. (Read more.) 

Nevertheless, it still feels like these have been difficult times for far too many people.

So it is heartening to feel that, perhaps, some of the clouds are lifting.

First, there is the stronger than expected jobs report in the US—528,000 new jobs in July—twice what the Wall Street Journal projected! Unemployment in the US is now at a near historic low of 3.5%. Yes, that may prompt further inflation, but the Federal Reserve is already busily turning the interest rate screw to tamp down inflation, and at least gas prices have begun to fall at the pump. Mainly the strong jobs report signals the strength of the economy.

Then comes the real breakthrough…  Due to the US Inflation Reduction Act, we can expect truly unprecedented industrial shifts. 

Bloomberg News (see source) suggests some of the real industrial winners from this legislation include: 

  • Private equity (avoided tax increases)
  • Electric car makers (vehicle subsidies in the form of tax credits)
  • Renewable energy (also in the form of tax credits)
  • Oil companies (new oil and gas lease sales and tax credits for carbon capture)

PitchBook goes on to highlight some of the funds that are pouring into renewable energy as a result under the heading “Christmas for climate tech”:

“Climate tech investors and advocates were shocked by the agreement […] that, if passed, would be the largest investment in decarbonization the US has ever made.”

“[…] the package will supercharge an already strong environment for climate tech investment. US VC funding for climate tech has been on a tear in recent years, topping $16 billion in 2021, more than double the prior year, according to PitchBook data.”

“[…] Investors say the bill will reduce the green premium on pricey technologies, speed up the network effect of electric vehicles and renewable electricity, and provide capital that goes where VCs won’t. In short, it’s Christmas for climate tech.” (See source.)

Beyond that, other private investors are also pouring money into renewables and climate change initiatives.  Forbes magazine reports:

“[…] in September 2021 [Powell Jobs pledged] to donate $3.5 billion toward environmental causes over a decade.”

“Powell Jobs isn’t the only billionaire pledging large sums to help fix climate change through philanthropy. Amazon founder Jeff Bezos committed $10 billion over ten years to address the issue through the Bezos Earth Fund. Swiss billionaire Hansjoerg Wyss pledged $1.5 billion for conservation efforts. Former New York mayor Michael Bloomberg launched a $500 million initiative to close all U.S. coal plants by 2030 and stop the construction of proposed gas plants.” (See source.)

We have already seen 2.4% annual growth in executive positions in the renewables sector which at last review was running among the hottest industries, meaning the industry is likely to add another 9,000 executives in the next few years—even before the Inflation Reduction Act.

So you might seriously want to consider whether your skills and background make you a candidate for one of these industries destined for an extra growth spurt.

The Barrett Group has been helping executives transition from one industry, role, and/or location to another for more than 30 years. We are the experts in career transition. (Read more.) 

And, as you may have already recognized, staying put is not necessarily a winning strategy, if you feel that you are not recognized for your contributions, or earning what you deserve. We help clients on both these fronts using our unique targeting step to really assess the individual client’s needs and aspirations before co-formulating and implementing their career change strategies.

So, this could be your moment. Why not earn more while transitioning to a growth industry and improving your quality of life?

Impossible, you say?

That’s not how our clients see it:

“I used to think I could do anything on my own – that I didn’t need help to successfully advance my career, but I had a rude awakening. Through The Barrett Group’s process, I learned a different approach – something I should have been doing all along.” [Sven Leverson, Read more.]

“I had been a chief information officer. The operations officer role was something I had never really been in before. It was new and exciting, and I looked forward to it.” “I probably would not have negotiated the salary and everything else I ended up with, you know, the perks that came with it, the terms of the contract and all those other things. I can’t thank The Barrett Group enough.” [Diane, VP Operations, Read more.

“What I was considering was a massive career change. I felt like I was leaving my tribe. It was a moment of existential crisis for me, and I had to get my bearings straight…” “Looking back, I can say without question that The Barrett Group program was worth the investment […] I can’t recommend the program enough.” [Joel Engle, Chief Growth Officer, Read more.

So shake off those shadows and come out in the sun. The Barrett Group can help you earn more and have more professional satisfaction, or even transition to new, exciting industries that will clearly benefit from new investment and tax policies. Take the first step: give us a call.

Peter Irish, CEO
The Barrett Group

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