Category: Job Search & HR

Job Search: Altogether Now! Say, “Bye-Bye, Ladders!”


Marc_thumb As some smart people predicted, TheLadders are not for $100K+ job seekers anymore.  In his newsletter last Monday (presented in its entirety at the bottom), Marc Cenedella announced that now his job board "takes all salary levels" (for shame, Marc – subpar writing!)  Well, he definitely can say, "Bye-bye" to many premium members who are paying annual fees on the premise that they belong to an "exclusive club" of six-figure-salaried people (Dear reader, I agree, it's absolutely pathetic, but people are people). 

But I am more interested in the speculative assertions we can deduce from this:

  1. Marc Cendella thought that some investor would come along and he would be bought out by now and retire in the…, where he wanted to retire.  I understand very well the whole thing with the book's publication, etc.  There is no fame or fortune in writing the books (trust me on this one, I should know), because nobody buys or reads them.  You invest your precious time into writing endeavor for other reasons.  In his case – self-marketing.
  2. The job market is so bad that there are not enough 100K+ postings to cover their expenses.
  3. He needs more revenue both to boost the dwindling cash flow, and attract investors.  For that he needs contracts with large employers and recruiting agencies, who don't have too many six-figure positions anymore either.  So, the only way they will deal with him is if he opens the doors to all salary levels.
  4. Now, even the premium members will start receiving laundry lists with salaries all over the place – it's not like there are no $40K a year controller positions out there.  Who wants to pay for that kind of service?
  5. I am not an oracle: it's possible that Cendella is a lucky person and it will all work out his way, but it's my opinion that the near-future probability of TheLadders saying bye-bye altogether is very high.

"Bye-bye!

September 19, 2011

We're expanding, and today we say "bye-bye" to helping only those over $100,000 and "hello" to helping all career-minded professionals. TheLadders now takes all salary levels and shows the right jobs to the right person. So while we're saying goodbye to our narrower segmentation, we are not saying "goodbye" to keeping your job search on TheLadders relevant, focused, and targeted.

So, for example, you won't see jobs that pay half (or double) what you're currently making. You won't see jobs outside of your field — we still won't show sales jobs to finance professionals, or marketing jobs to technologists. And we won't be letting in scammy jobs, work-from-home schemes, or commission-only opportunities — we'll still be vetting every job and every recruiter before we allow them into our community.

So what's the big change for you? Should be not too much… on the surface.

You'll still be seeing great $100K+ jobs, and the recruiters who post them.

Behind the scenes, though, by making it easier for companies and recruiters to fill all of their professional jobs at TheLadders, you'll find that we're getting more, and an even wider variety of, jobs at the right level for you.

We've been out talking to our friends in HR departments and recruiting shops across the country these past few months talking about our expansion and we've found widespread enthusiasm and support. The standard ways of doing things are too expensive, too time-consuming, and too frustrating for them, too.

This expansion has been a long time in the making. From the beginning in 2003, when we set out to become the "Society of the Nation's Top Talent" to our first appearance in the New York Times in 2007, we've talked about preparing for the day when we would expand to cover all professional jobs.

We've worked hard at becoming experts at modern recruiting. We've underwritten research at universities. We've spent over a million dollars re-writing the playbook for job search advice. We published our Amazon Top 100 best-seller: "You're Better Than Your Job Search". And we've studied the history of the job search through the past two centuries.

We also launched Signature, our historically unprecedented program that guarantees you a job offer — or your money back — when you follow our program of weekly or bi-weekly calls over six months.

And based on our expertise in understanding what employers want, we've built the largest resume writing service in the country.

It's that excellence in helping job-seekers like you that has propelled us to become leaders in the business, and it's one of the reasons why we've tripled the number of recruiters and HR professionals in our community this year alone.

And so now that we've grown to almost five million members in the United States and 43% of high-end professionals used TheLadders in their job search last year, we're expanding to serve all career-minded professionals and all professional jobs in the country.

I thank you for your support these last eight years and look forward to eight, or eighteen, or eighty more years helping you succeed in the job hunt!

I'll always be rooting for you,
Marc Cenedella

Marc Cenedella, CEO & Founder"

Job Search: Out of Work for a Long Time


The media, politicians and economists are trying to convince everyone that recession has ended many months ago.  Well, good for recession, but from what I observe, a lot of folks are out of work.  There have to be a reason why unemployment benefits are extended up to 72 weeks in most states. 

Let's face it, the "employment gaps" are far longer now than they have been in many years.  It is especially true for CFO's and Controllers whose small and mid-size employers went out of business or contracted to the level of not being able to afford senior management.  Even though I never believed the old recruitment fable that every $10K of your desired compensation translates into one month of job hunting, the basic rules of statistics prove that it takes longer to find a high level position simply because there are less of them.  Now the available openings are further reduced by the economic contraction.  There are government aid packages designed specifically to stimulate hiring by small businesses, but it will take long time before we will see significant impact.

Knowing all that, nevertheless, does not prevent recruiters and HR managers from asking you point blank, "Why you have been out of work for such a long time?"  They know why.  They ask because they want to see how you handle the question.  Your ability to present yourself in the best light during an interview and explain the employment gap on your resume in the most appealing way is a very sensitive issue.

That is why I highly recommend that everyone, even those who are not actively looking at the moment, read The Ladders' article Why Have You Been out of Work So Long?

I don't always agree with their material, but what I like about The Ladders' advice pieces is that they give us the point of view of the hiring professionals, the very people on the other side of the table.   Those on the job market need to cater to their expectations and their mind-set.  This particular article has the most straight-forward advice on the employment gap issue I have ever seen.

I have to say, however, that almost until the end they got me worried because it seemed that the article practically recommended to make up a story to fill the gap: say whatever,  except that you were just looking for a job.  Only in the last paragraph the actual activities are implied.

And I would like to elaborate on that.  Please, don't make up stories – you never know where that may lead you.  Nobody looks for a job for 12 hours every day.  So, use your spare time to occupy yourself with one of those recommended activities, and then you can tell people about them.  Even if you buy a SOX manual and study it on your own, you can say that you have significantly expanded your internal control compliance horizons.


              

Futurenomics of Higher Education


Item_3703People laugh at me when I talk about higher education in negative terms.  And I understand – it sounds hypocritical coming from someone with multiple academic degrees.  But times and environments change.  For my generation, higher education was far less expensive, more intellectually challenging and somewhat more rewarding than it is for young people today. 

Now colleges lower their educational values, so that the degrees seem more intellectually accessible.  The individual thinking is not cultivated anymore and slowly disappears together with independent studies.  It became all about mechanistic skills of test-taking instead of true intellectualism.   

Except for a few institutions still adhering to their academic values, most colleges' coursework does not require any reading beyond the textbooks.  This is how we end up with scores of degreed "professionals" who never read.  My famous pet peeve is having young subordinates with accounting degrees who don't understand the fundamental principles of double-entry bookkeeping. 

So, for $200,000 you get a low-grade minimal intellectual input and the promise of… What?  Nowadays, nothing.  Ok, so wealthy parents may be willing to pay this kind of money in order to delay their children's exposure to the doldrums of the adult life – as far as I am concerned, not a bad idea if you love your children and can afford to do so.  But other than that – it's really just nothing but a bad investment.  

Yet, more and more children continue entering colleges, ending up with unbearable debts.  Some are locked forever in terrible jobs, others are not capable of getting a job at all.   And people still insist that the degrees open some highly desirable doors?  Why is that? 

Because, of that stupid club mentality that pollutes every aspect of our lives.  Hiring managers and recruiters, themselves college graduates, will look down on those without the degrees, regardless of their abilities and knowledge.  This idiotic pattern has to change.  Not to boast or anything, but I always look for a spark of an intellect in a candidate's eyes before I look at the Education section on his resume.     

At the same time, we cannot deny the fact that having graduate and post-graduate degrees inhibits entrepreneurial potential of many bright and capable people.  I have been saying for years that the possibility of being paid good wages prevents people from entering the entrepreneurial route.  It's too scary to gamble on your business success if you have a steady job.   Thus, instead of building small and midsize businesses that could revive our economy, kids "all go to the university, and they all get put in boxes, little boxes, all the same." 

But this point becomes even less relevant now: those highly paid jobs opportunities will not be there in the near future.  Young people, please, you don't have to follow the rest of the sheep.  Think for yourself; let your creativity take you on the self-fulfilling journey.  And you don't have to strive to be rich and famous overnight either – not everyone is meant to be Gates or Zuckerman.  There is nothing wrong with building your own small business that will provide you with middle-class living, while creating jobs for other people on top of that. 

 

 

Job Search: Lessons from AOL Resume Contest


Not that my stories are usually bright and sunny, but in this case I feel obligated to apologize in advance for the accentuated feeling of gloominess the visitors may experience reading this post.   This particular topic is depressing on three levels. 

First of all, it deals with the fact that there are millions of well-qualified people out there, who are classified as "long-term unemployed." 

Secondly, it highlights the problem of plunging work quality we can see everywhere.  I am not saying everyone, but it seems like the majority of people  just don't want to try hard anymore.  

Thirdly, it disparages our illusions about the impact of "internet exposure."  Search Engine Optimisation (SEO) and web-powered Social Networking are even more popular mantras nowadays, than Dashboards.  Everybody and their mothers are writing about it.  People believe that if they get their name on a high-traffic site, they are going to be noticed.  The reality is that unless you write about sex, celebrities or electronic chachkis, nobody will care.  And before you bring up Huffington Post, let me tell you – Arianna Huffington was a political powerhouse and a decent memoirist way before she went on the net. 

So, here is the story.  In January AOL Jobs announced a Resume Contest and offered job seekers to submit their CVs and photos.  The winners were "to be selected by AOL Jobs career experts."  The incentive to participate was boldly formulated:

"Each winner will have their resume featured on AOL.com for millions of prospective employers to see..."  

AOL Jobs never revealed their traffic information to support this claim of tremendous exposure.  But of course, people are desperately unemployed and ready to grasp at straws; plus, the internet exposure illusion…  Resumes were entered into the contest.

Here comes the funny part.  Afterwards, the organizers did not even bother to announce how many resumes were submitted.  Like, it did not even matter.  However, in addition to the original 12 winners,  AOL Jobs announced 24 runner-ups, claiming that "there were so many amazing… entrants" (no actual numbers).

I happened to know personally one of these runner-ups.  Guess when these poor saps were featured on AOL Jobs…  The first group on Saturday, January 29th, at 7:57 AM, and the second group on Sunday, January 30th, at 4:42 PM.  Who was looking?  Recruiters?  Employers?  None of these 36 winners got any job offers through this "wonderful" campaign.

The personally -known-to-me winner did not receive a single phone call or an email.  Well, that did not really surprise me.  What shocked me was that nobody from AOL cared to follow up with her.  There were no emails asking if she got any leads, nothing…  Weren't organizers interested at all in the results?  As I say – low quality of work everywhere.   

So, I have a constructive suggestion, which at the very least will have a quality-improving effect.   How about, AOL Job's management actually pursues their "Employing America" mission and replaces the incapable staff, who developed this failed contest, with some excellent winners of the Resume Contest?

Job Search: A Sad Tale of a Misdialed Area Code


Images Posts related to job search issues have become more frequent.  I guess, it is unavoidable with such a persistent problem – a lot of people are unemployed and the jobs availability diminishes every day, no matter what the big-time economists and government statisticians are saying. 

This story was related to me just last week and I felt compelled to share it here.  A fellow financial exec has been contacted by a recruiter with an opportunity for a CFO position with a service company.  The recruiter does not work for an employment agency.  He is with a consulting company that specializes in hedge fund and private equity brokerage.  They offer a broad range of assistance: from finding companies suitable for takeover or merging to post-closing transitioning.

Excellent!  Recruiters working for such consulting firms are less constricted than conventional headhunters from Robert Half et al.  Because they are immersed into an entrepreneurial world, they actually try to find talented people instead of counting the check marks they drew on a resume.

So, the two have an extensive phone interview, going over the financial exec's experience with various functions crucial for this job.  At the end, the recruiter is very positive and tells her he would make a presentation to his boss, the consulting firm's Managing Director.  A couple of days later he calls to inform her that he got a favorable feedback and wants to make an appointment for a telephone interview with the boss.  They set the day and time.  

Now (this is an important bit of information), the consulting firm is in Philadelphia, where predominant area code is 215.  The candidate is in New York City – 212 area code there.

Appointment time comes – the interviewee sits and waits by the phone.  An hour later – nothing happened.  She writes an email to the recruiter advising that the Managing Director did not call.  He writes back immediately saying that she did call, nobody picked up and she left a message.  How is it possible?  The woman in New York was by her phone all the time.  Well, we, CFOs, are quick like that – our job seeker realized right away that the Philadelphia woman, out of habit, must have punched 215, instead of 212.  

The recruiter and his boss probably looked at the call log and saw the wrong number too.  The interview was rescheduled.  But now, there is a subconscious resistance in the interviewer's mind – she is human, and we don't like admitting to embarrassing errors like that.  She re-schedules again, then again, then never calls. 

And just like that, the opportunity was gone.  What always bothers me when things like that happen, is that it is quite possible that this woman could have been the best thing that ever happened to the company.  She might have impacted the future of the enterprise in the most positive way.  It seems so unfair that stupid little things like this misdialed area code have such a big role in this Comedy of Errors we call life.