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Long-Term Trends We See: Results, Business Knowledge and Education

December 15th, 2011

A recent article found on ere.net titled Hidden Executive Job Market Requires New Tactics and Takes Longer than Expected (found at http://tinyurl.com/7jhs2jk) identified five things executive candidates should do to be successful in this job market.  While I will list them at the end of this post, there are items we see with all of our clients that are key as well.  The ere.net article is written with a focus on what ‘in transition’ executives should be doing.  Our trends are employer-centric – regardless of the employment status of the executive candidate.

Resumes that are really just job descriptions

We receive countless unsolicited resumes – in addition to the ones we solicit, of course.  While unscientific as an actual count, well over 80% are written in terms of responsibilities, NOT results or accomplishments.  The trend we always see – our clients (employers) want people who can hit the ground running.  Writing about (in resumes) what you are/were responsible for tells people little.  Writing about, and as a result, being able to articulate what you have done in the past gets the job.

I speak only sales (or – substitute any single function)

How does HR impact Operations?  How do Sales and Marketing coexist – when in most large companies, they are very separate functions?  How does Market Research work effectively with Engineering?  AND how do all of these functional areas impact the bottom line?  The trend we see, from large or small employers, is they want people who are functional experts AND who also speak the language of business. Stating your expertise in terms of how you impact the business gets the job.

When did you get your degree?

I received my Bachelor’s degree in the ’70′s (1979 – you can insert any age comment you would like here).  Getting that degree was a prerequisite for getting employment.  While that is still the case, continuing education, especially for a person with a degree from multiple decades ago, is much more important.  Our clients always (yes – always) want to know what the person has done to keep up in the ‘technology’ of their functional area.  Laws, techniques and actual technology impacts all functional areas.  Being able to discuss recent advances in your field because you studied about it (in a seminar or course) gets the job.

The ere.net article: what did recruiters that ExecuNet surveyed say was critical for this job market?

  1. Become connected to industry decision-makers and influencers who will refer you.
  2. When contacting an executive search firm, offer to be a referral resource for them in exchange for their assistance.
  3. When contacting a search firm, offer to be a source of information related to your industry.
  4. Maximize your online resume profiles with keywords and industry-specific buzzwords so it will come up in online searches.
  5. Respond to online job postings.  (NOTE – this was rated number 5 by recruiters because it is the least efficient.)

Need a new position?  Imagine combining the ‘two’ items above!

Posted in Career Management, Multiple Topics, Recruiting, Retained Search

What does AARP say about job searching?

November 30th, 2011

As a search firm, candidates often come to us asking for assistance in their job search.  While we don’t do anything proactive for the job seeker (we are retained by employers to fill their management and leadership positions), we do keep up on the latest in job search tactics.  We even talk about it – often speaking with/to Job Support Groups.  This past Tuesday (11/29), I was speaking to the Job Connections Group (sponsored through Prince of Peace and Shepherd of the Valley Lutheran Churches).  My topic:

  • Job Search for the Mature Seeker

Does job search differ if you are 40+ or 50+?

The answer is not really.  I googled multiple iterations of the topic and scoured the AARP website (I am too vain to be a member . . . . . yet).  There are multiple articles on the topic.  Many are written under the assumption that retirement is part of the short-term plan.  Throwing those out, I read multiple articles with titles such as 5 Ways to Prove Your Worth, Top 10 Tips For Job Hunters Over 50 (that was from Forbes), and Finding a Job Is a Job: Job Search Strategy for 50+ Workers.  The conclusion?

Effective job searching involves executing job search strategies – regardless of age.

That said, here are the top 10 tips from the Forbes article:

  1. Cast a wide net.  (While focus is important, think about your skills as transferable to new settings.)
  2. Focus on smaller employers and not-for-profits.  (In good or bad economic times, these employers need the skills a mature worker brings.)
  3. Network.
  4. Ask for help.  (Attend job support groups; talk with other past job seekers, etc.)
  5. Be up-to-date with the latest technology.
  6. Keep your resume alive.   (Add classes, significant volunteer experience, etc.)
  7. Pitch your age as a plus.  (Talk about your accomplishments, not simply past areas of responsibility.)
  8. Fine-tune your interview skills.
  9. Don’t be a know-it-all with a chip on your shoulder.  (Focus on your best moments and never bad-mouth past employers; I had a recent CFO candidate do this – it did not help to make him a viable candidate.)
  10. Overqualified?  Deal with it!  (Focus on the opportunity if you truly want it.)

A quote from the Frank Capra movie, Lost Horizon:

  • “Age is a limit we impose upon ourselves. You know, each time you Westerners celebrate your birthday you build another fence around your minds.”

From my experience, this seems to fit here.

Posted in Career Management

We Want You! (Now Get To Work!)

November 15th, 2011

This coming Friday (November 18, 2011), I will be speaking at the MnCUPA-HR (Minnesota College and University Professional Association for Human Resources) fall conference.  The conference title is, HR as Business Partner: Tackling Employee Engagement and Retention.  When I was called by one of the conference organizers, I was asked if I would like to speak on how recruiting effects retention.   My initial reaction (thankfully a silent reaction) was, wait – we recruit people directly from one organization to the benefit of another (often a competitor).  I know how recruiting effects retention!

Thankfully, my second reaction was what I went with.

Why do people take our calls when we reach out to them?

In today’s organizations, recruiting (talent acquisition) is often thought to be an externally focused activity.  Retention is thought to be an internal activity.

What if we thought about these two activities differently?

Imagine if we looked at recruiting as a set of ongoing internal activities to keep current employees engaged, productive and developing.  Retention activities would then, in many ways, become redundant.  Most of these ‘retention’ activities could be focused on the organization’s image.  External recruiting could then capitalize on these activities.  Candidates would proactively seek the organization out.

Advice has been out there since at least 1997 (McKinsey’s original work on War For Talent)

The first work I encountered in this area AFTER helping to start what has become Abeln, Magy, Underberg & Associates was McKinsey’s work.  They came out with a list of seven talent imperatives for winning the war.  Some of these included (and still include):

  • Instill a talent mindset in the organization – starting with senior management
  • Create an “extreme” employee value proposition – the answer to the question, why do I want to work here?
  • Make room for talent to grow

Googling this topic in preparation for the upcoming conference, I found similar, but more recent, advice from Jim Sullivan, CEO of Sullivision.com.  He published a list of 13 Smart Recruiting and Retention Strategies.  While I won’t list the 13 here, the themes are the same as from 1997 – he simply words them in more current terms:

  • Recruiting is branding.  So is retention.
  • Measure, celebrate and reward the managers who attract and retain the best people.
  • Make hiring the MOST IMPORTANT decision.

Our next post will give additional information from the conference.  That said, the best advice from all the literature reviewed for the upcoming conference was very simple – and the #1 item from Jim Sullivan’s above referenced list:

  • Select the right person in the first place.

Posted in Employee Engagement, Recruiting

Career Advice for All (from the perspective of Entry Level employment)

October 31st, 2011

On Saturday November 5th, I have  been invited to give the keynote address at the TCHRA 2011 Student Conference.  I am truly honored and humbled – and having great fun pulling thoughts together.  The theme of the conference and the talk:

  • Paving Your Path to Success

I used three books as inspiration for preparing my remarks and need to mention them AND thank the authors:

  • The M-Factor by David Stillman
  • 1001 Things Every Teen should Know Before They Leave Home (Or Else They’ll Come Back) by Harry Harrison Jr.
  • Everything I Need To Know I Learned in Kindergarten by Robert Fulghum

What I learned is that advice for college students that are close to entering the workforce is not horribly different than advice for people with substantial work experience.  Here are some of the topics and quotes (mostly from the 1001 Things book):

You Never Get a Second Chance to Make a First Impression

  • Do NOT dress like a model or rock star – unless you are interviewing to be one
  • Show up on time:  for interviews, for class, for work, for relationships
  • A business lunch is no different than any other business meeting – except you have the opportunity to ruin your clothes (order accordingly)

Networking

  • The best time to start networking is before the need (today would be good)
  • The people you are meeting now are future clients, customers or employers – don’t lose track of them

Common Sense (sadly and often not that common)

Final Thoughts

  • Buy a loud obnoxious alarm clock with a snooze button!
    • Most of the truly successful people wake up before everyone else
  • Never be afraid of doing the right thing
  • Your reputation will shadow you for the rest of your lives
  • Don’t be afraid of changing jobs; be afraid of losing your passion

 

 

 


Posted in Career Management, Multiple Topics, Social Networking

Entry Level Employment

October 14th, 2011

Yes – we are a retained/executive search firm.   Yes – we work on positions that typically require at least 10 years of experience.  Yes – we get hired when there are challenges (usually multiple) to finding the person needed to fill a key position.  No one has ever called us with an easy opening, long timeframe and huge fee.

This past week I have started to receive calls from parents that I know.  They are trying to help their soon-to-graduate (OR recently-graduated) children get a job.  Adding to this recent theme, I will be the keynote speaker at this year’s TCHRA 2011 Student Conference entitled Paving Your Path To Success.  (Parents – pass this link along to your children!)

Let’s start with basic advice . . . . . think in terms of a grade for your effort AND result.

I am sure that you want to go for an ‘A’ as you embark on a search.  (Parents – don’t you want your child to get an ‘A’ in this area?  Think financial independence!)

  • Act motivated – I understand that a parent is likely to make the initial call to introduce the concept/see if it is okay for their child to make a call.  No problem, BUT – then the next step is up to the job seeker.  Students – get on the phone (or at least send an e-mail) right away.  Waiting days (or in some cases – weeks) makes me wonder how motivated you are.  Projecting this forward, will you be a motivated employee?
  • Practice – networking calls, writing cover e-mails and resumes, and interviewing are all new behaviors.  No one expects you to be perfect the first time, but “you never get a second chance to make a first impression.”  (Thank you for the quote – it is from my 8th grade English Teacher – told to me on the first day of class; that story is for another time.)  Practice with friends, relatives, the career services office, etc.  Important calls should be scripted.
  • Resumes – volumes have been written on this topic.  In a nutshell, it is a sales document.  It is your advertisement (think of a product on a shelf – the packaging has to tell the story/get you to want to try the product).
  • Career Services – college campuses have varying forms of assistance available.  You as the student will likely have to seek this out (unless they are a business major at a major university).  The services are free for the taking – you just have to take the initiative.
  • Networking - at the end of the day, the most successful job search technique comes down to networking.  Think strategically – who is willing to both take your call (friendly) and provide referrals and ideas (helpful)?  Call these people first – after you have practiced your script, of course.

What do employers look for?

According to the Association of Colleges and Universities (www.aacu.org), employers are looking for the following:

  • The ability to work well in teams – especially with people different from yourself
  • An understanding of science and technology and how these subjects are used in real-world settings
  • The ability to write and speak well
  • The ability to think clearly about complex problems
  • The ability to analyze a problem to develop workable solutions
  • An understanding of global context in which work is now done
  • The ability to be creative and innovative in solving problems
  • The ability to apply knowledge and skills in new settings
  • The ability to understand numbers and statistics
  • A strong sense of ethics and integrity

There is a great quote by Will Rogers.  “Even if you think you are on the right track, you’ll get run over if you just sit there.” There are jobs out there; yes it is competitive – but you survived 4 years of college in a competitive environment.  Get out there and start the search.  This journey starts with your first call. 

Posted in Career Management

Do we need all the laws we have?

October 2nd, 2011

This is not going to be a political ‘rant’ . . . . . but a question based on some research conducted for a class I recently attended as a guest lecturer.  I was invited by Kathleen Lafferty, Director of HR for Hanley Wood Marketing and adjunct faculty member in HR at Metro State University.  She teaches a class on Human Resources Management and has asked me to be a guest in her class for the past three semesters.  My topics during each visit – (1) Executive Compensation and  (2) Retained and Contingent Search.

I am not a compensation expert, but . . . . .

Daily, my colleagues and I ask candidates to tell us their salary level (base, bonus, etc.).  They tell us; we keep the data – it is great information for our clients on true market pricing for their open positions.  That said, legislation on executive compensation is not where I spend my time.  Because of this class, our head of research finds the latest/greatest out there on the topic.

Say on Pay

In January of this year, the SEC voted to adopt final rules giving shareholders of publicly traded companies the right to weigh in on executive compensation through nonbinding advisory votes.

  • Nonbinding?  Let me express my confusion here . . . . . if I buy stock, I approve; if I do not buy stock OR sell the stock that I own, I disapprove.

Regardless, was there an impact to this new SEC rule?  Maybe the answer is additional proactive communication and actual thinking about executive compensation plans.  56% of publicly held companies reached out to their shareholders directly in order to achieve a positive vote; 53% communicated through proxy advisers.    91% are planning or considering at least one change in their pay-setting process or preparations for the 2012 proxy season.  Again, the positive impact may be actual thinking about the optics (how shareholders ”see’ the plans when they read about them) and impact of their plan.

Dodd-Frank

Again, maybe it is just me, but this law states the obvious.  If the financial statements that I was paid under are found to be inaccurate, the bonus I received has to be adjusted to reflect the corrected version.  It is called a “claw back” – reflecting the requirement that the company take back the overpayment.   This law is called the Wall Street Reform and Consumer Protection Act of 2010.  My name for it – pay accurately both short and long-term.

I know there is more out there . . . . .

I appreciate the executive compensation experts that work hard to assure that the top people in any company are paid for the impact of their work.  The laws, however,  seem to be the reactive outgrowth of the stories of executives who are terminated and then receive millions for the lack-of-results achieved.  My solution to these situations?  Don’t invest in these companies!

If I am ever in charge of the SEC or Congress

My rules would come from one of the best books I have ever read, All I Really Need To Know I Learned In Kindergarten by Robert Fulghum.  Among my favorite rules from this book, which should be required reading in any business course, are:

  • Play fair.
  • Clean up your own mess.
  • Don’t take things that aren’t yours.

These are the rules we should adopt and hold people to!

Posted in Compensation

2.1% Unemployment (yes – you read this correctly!)

September 15th, 2011

What is the unemployment rate?  The actual answer, in my opinion, is that you can answer this in multiple ways depending on the story you want to tell.

  • 9.1% – this is the number that most commonly (and currently) makes the news.  It is the U.S. ‘macro’ unemployment rate.  This rate for August 2011 was just announced on Friday, September 2nd.
  • 7.2% – this is the rate for Minnesota.  Slower to be announced, this is the rate for July and reflects some of the people that were directly impacted by the State of Minnesota shutdown.  Typically (although NOT always), Minnesota has a rate that is lower than the national average.  We have a very diverse and, relatively speaking, resilient business climate in Minnesota.   (Wait for the comparison below, however!)
  • 7.5% – this is the rate for the Minneapolis/St. Paul/Bloomington area.  As mentioned above, this July number also reflects some of the laid-off State of Minnesota workers.
  • 4.3% – my personal favorite unemployment statistic.  It is the rate for people that are at least 25 years old and have a 4-year degree (or higher).  This number, which I have mentioned several times in the past, is published the same day/time that the macro number is published.  The BLS chart that shows unemployment by education level is at http://www.bls.gov/news.release/empsit.t04.htm.  Interestingly, is is approximately 1% lower in Minnesota for this group – meaning a traditionally full employment environment for this population according to labor economists.
  • 3.3% – this is the North Dakota rate in July.  Yes – you are reading this correctly.

Okay . . . . . . one more – yes – 2.1%!  This is the rate in western North Dakota.  It is an oil boom area.  Make all the comments you want at this point about western North Dakota (or North Dakota in general), but seeing an expanding economy in action was simply amazing.

Help Wanted and Housing Needed

I was just in western North Dakota on a business trip.  We are working with a manufacturing company that needs (1) a CFO and (2) a Division Manager.  While we were there, we also met with another expanding employer in the food industry that has multiple needs.  Both companies have long histories (pre-oil boom) and great stories to tell.  Their cultures are hard-working and friendly.  They take business needs and family balance seriously.

Seeing an area of the country where there is expansion construction going on everywhere (and a feeling of optimism from all) was uplifting.  They have a community center (fitness areas, meeting areas, etc.) that rivals anything you will find in the twin cities.  Make all the comments you want about the idea of living in North Dakota, but they are clearly doing something right.  The issues they face are different than the ones we read about in the national news – there are worker shortages and challenges in finding housing.

Back to my opening question . . . . . . what is the unemployment rate?

Most of the retained search professionals I know are busy helping companies find the people that, for some reason, are not beating down the doors of the employers with the openings.  I know that the unemployment rate is 100% is you are unemployed (and 0% is you are employed).  The news – hard to read on a daily basis.

My advice?  Focus on the 4.3% (or lower) if you are in that category (4-year degree or higher – and at least 25 years old) – and open yourself to moving for some amazing opportunities.  We as a population have been ‘nesting’ long enough – waiting for a safe and generally positive economic climate.  Stop reading about 9.1%; think about the 4.3% or lower rate that should make the news – and focus on the opportunities that do exist.  Back to western North Dakota – the oil boom is expected to run through 2016 and then even off (i.e. – not go down) before it goes up again.  That is news we should all like to hear!  That is an unemployment rate that offers opportunity and growth.

Posted in Economic Update

Ethics in Recruiting

August 31st, 2011

December 1st 2009 – our first Blog posting – and the topic was Ethics in the Search Field.  This continues to be a topic of interest – and one that continues to surprise HR professionals when it sneaks up on them.  It is often a reactive topic – it comes up when encountering a search firm’s practice that was ‘surprising’ or a candidate that did not tell you the full truth.

SHRM and other professional associations ‘guidelines’ on Ethics

SHRM (Society for Human Resource Management) has a Code of Ethics.  This is its core principal:

  • HR professionals are expected to exhibit individual leadership as a role model for maintaining the highest standards of ethical conduct.

Not too specific – but we are paid to make decisions, not simply follow a recipe.  SHRM continues with Guidelines (among other things).  The first of these guidelines left me a bit uncertain:

  • Be ethical; act ethically in every professional interaction.

Well – that cleared it up for me!

The AESC (Association of Executive Search Consultants) was no better.  They have a Code of Ethics as well.  An example was under the heading of Competence:

  • AESC members will perform all search consulting assignments competently, and with an appropriate degree of knowledge, thoroughness and urgency.

Again, not a great amount of clarity.  The IACPR (International Association for Corporate and Professional Recruitment) is a bit more specific in my opinion.  They don’t tell you what to do, but are more specific in their language (i.e. – Reference checking without the knowledge and permission of the candidate, while sometimes expedient, is nevertheless a disservice to the candidate, unprofessional and is also unlawful.).

Defining Ethics

Academically, there are multiple ways to approach this topic.  Two possible trains of thought (among many) are:

  • Consequentialism – the consequences of an action form the basis for any valid moral judgment:  The ends justify the means
  • Deontology – you determine the goodness or badness from examining acts
    • An act may be considered the right thing to do even if it produces a bad consequence – “truth telling”

These two approaches can lead to opposite conclusions.

Is there one answer?

This past week, I facilitated a discussion for a company’s Talent Acquisition department on Ethics in Recruiting.  We covered a multitude of topics – more as an introduction to the possibilities AND to also see where they wanted to engage in discussion.

While there was relative agreement on some of the topics (the need to pre-discuss off-limits issues), there was also some great discussion around dual-processing of candidates as well as a retained firm’s ability to take on conflicting searches.  There also seemed to be clear agreement on one interesting item (a sad conclusion by the way) – there is almost an expectation and acceptance of less-than-ethical behavior from some Contingent firms.  (I am thankful that we only do Retained work; that said – shouldn’t we all be held to a high standard?)

The next topic to watch?

That will be case law as it relates to use of Social Media in recruiting . . . . . are my contacts, as an employee, my contacts – or are they public because of my LinkedIn (or other) connections?  This will play out in the courts – if cases ever make it that far (many of the cases are being settled prior to a public trial).

Stay tuned!

Posted in Ethics, Recruiting

Economic Update – Lumpy!

August 15th, 2011

About one year ago, I was attending an International Association of Corporate and Professional Recruitment conference in Philadelphia (see www.iacpr.org).  The Small Search Firm group was talking about the economy.  One of the attendees commented that he described the economy as lumpy.  We all looked at him – and felt a total agreement.  This individual had found the perfect term to describe our current economic situation.

What a difference a year makes?

Earlier this month, I presented an update on the economy to a group of human resource practitioners.  This is my third annual visit – and the title doesn’t need to change.  It was simply What a Difference a Year Makes.  I used the ‘technical’ term mentioned above (lumpy).  People understood.

On the day of the presentation, our politicians were still arguing over how to solve the debt crisis (I guess they still are).  Regardless of your political leanings, I was looking for a trend – and found conflicting information from the non-political experts.  (The trend in politics is compromise – as long as you do it my way!)

Thomson Reuters/University of Michigan ‘versus’ The Conference Board

July 15 (2011):  the Thomson Reuters/University of Michigan survey stated that “U.S. consumer sentiment deteriorated in early July to the lowest level since March 2009.”

July 26 (2011):  the Conference Board Consumer Confidence Index®, which had declined in June, improved slightly in July.

Who are these groups/organizations?

  • Thomson Reuters/University of Michigan – a survey of consumer confidence conducted by the University of Michigan.  The Michigan Consumer Sentiment Index (MCSI) uses telephone surveys to gather information on consumer expectations regarding the overall economy.  At least 500 telephone surveys are conducted each month across 48 states (the survey excludes Alaska and Hawaii).
  • The Conference Board – a global, independent business membership and research association working in the public interest.  They are an objective sources of economic and business knowledge with one agenda:
    • to help organizations understand and deal with the most critical issues of our time

Is there a conclusion?

The data shows conflicts.  The optimist in me prefers the Conference Board.  The pessimist in me hears the University of Michigan survey.

Based on the economic news as of this writing, go with the concluding term lumpy.  People seem to understand and agree with the term.  (And anything that all of us can agree to at this time is a good thing!)

 

Our next entry will be on something ‘easier’ than the economy – it will be on Ethics in Recruiting!

Posted in Economic Update

No Cost – Please Apply!

August 1st, 2011

Subtitle:  The Opposite of Post and Pray

Yet another post where someone will say, “wow – is he old” after they read it.

I remember, not so long ago, when applying for a posted or advertised position actually took some work.  You had to at least personalize a cover letter/e-mail.  You needed to perform some research to see if you could find a name so that the letter could be personalized.  (Don’t get me started about actually snail-mailing letters and using bond paper – and buying stamps.)

In our recent Post and Pray Blog post (see the May 16th post), we talked from the company perspective.  Companies will post a position and hope (or pray) they get the right people looking and applying.  Well – getting people to apply may have just gotten easier.  Getting the right people to apply – no change!

“LinkedIn Introduces Universal Resume Apply Button”

This was the title of an article posted on ere.net (July 25th – by John Zappe).  As the title and article state, LinkedIn is “offering employers a button to include on all their job postings enabling candidates to use their LinkedIn profiles to apply for the position.”

Many of the searches we are now conducting have started as employer postings.  In some cases, we have had a chance to see some of the responses the employer received before they chose to use a search firm.  Our favorite – a Bus Driver that felt he had the customer service skills (clearly stated in his cover e-mail) to be a Finance Manager (the position requires strong Project Finance and International Finance experience).  The person wanted to get out of his current career and, it appeared to me, he applied for every job he could find.  Is that a bad tactic?  The career experts that I know would say YES!

“That was easy!®”

(Thank you Staples!)  It really depends on the perspective you come from.  Annie Fisher, a contributing editor to FORTUNE, once put out a listing of what she considered wrong with resumes.  On the list:

  • Applying for a job for which you are not qualified

From your perspective – you have applied for a position (and hopefully to a company on your target list).  From the company’s perspective – you have not helped them or necessarily you.

A common saying at our company is “that is why they call it search.”  As a candidate, it is the same.

Posted in Career Management, Recruiting

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