Costly Executive Job Search Mistakes

A survey conducted recently for The Ladders job site of 500 executive recruiters reveals what recruiters consider to be the three greatest mistakes made by job seekers in these tough economic times:

1. They are too desperate and willing to take anything.
(Even if you feel desperate, make sure others cannot see it! And think twice before you take a job that does not seem right for you.)

2. They are poorly prepared for the interview.
(No excuse for this one! See my previous post: http://www.executive-resumes.com/2009/08/do-your-homework-before-that-executive.html

3. They provide a weak resume.
(Your executive resume is your ambassador--it represents you on paper. It must effectively make a business case for hiring you and vividly portray and exude your distinctive brand from start to finish!)

Avoid these costly mistakes to avoid sabotaging your executive job search. And if you want a shorter, more successful search, incorporate a well-thought-out search strategy that includes extensive networking among colleagues, former bosses and clients, and recruiters.

Do Your Homework Before that Executive Job Interview!

Consider the following executive interview disaster scenario:

Jack submitted his carefully crafted executive resume as a candidate for his dream position and, to his delight, won an interview.

Sitting in the hiring executive's office, he is congratulating himself that this job interview has been going really well, and observes to the hiring manager on the other side of the desk: "I don't know what products your company makes or what markets it serves, but with my 15 years of award-winning sales and marketing management performance I'm positive that I can dramatically boost your revenues and profit margin."

Suddenly the air in the room seems to chill and Jack is baffled. From here on things go downhill. Jack is soon dismissed with a rather perfunctory "Don't call us, we'll call you."

What went wrong here?

Jack has made a cardinal job search mistake. He did not prepare for the interview by learning everything he reasonably could about the company, its industry, vision, products, markets, customers, issues and challenges, financial health, etc. Displaying this lack of knowledge to the interviewer, he was immediately eliminated from consideration. "After all," the interviewer thinks, "If he has that little interest in us, why should we be interested in him?"

Jack has committed a major faux pas and offended the potential employer. He has also put himself at a disadvantage in terms of his ability to sell his skills and the bottom line benefit he might bring to the company. He was totally unequipped to paint a picture of how what he has to offer is specifically matched to that company's needs.

Looking at this from another angle, why would Jack have interviewed with a company that he knew almost nothing about in the first place? None of us would make a major consumer purchase without researching different brands and their features and benefits. Choosing an employer is much more important than buying a car or refrigerator! The employer/employee relationship is a critical one in Jack's life: His current livelihood and future earnings, success, personal satisfaction, and ultimate career path will be greatly affected by the job choices he makes along the way. How does he know that this company is right for him if he hasn't taken the time to learn all he can about it?

How to Avoid the Disappointment Jack Experienced

We all shudder at what happened to Jack . It vividly illustrates the importance of gathering considerable knowledge about companies before interviewing with them. Yet one might wonder, "How can I best gather this information and avoid a scenario like the one above?"

The short answer is: Do your homework. Below you will find a sampling of the easiest and fastest ways to find the information needed to both evaluate a company's fit with your career needs and prepare yourself to ace that interview.

Leverage the Power of Search Engines

With the power of today's Internet search engines you have literally at your fingertips just about everything you could possibly want to know about any company you are considering.

Submit queries about the company to all three major search engines-Google, MSN, and Yahoo. Each will come up with different results to help you round out your picture. Though I would not categorize it strictly as a search engine, About.com can also be a great primary resource for research sites. Type in the phrase "Company Research" in the search box and you'll get over 9,600 results. "Company Information" brings up over 31,000.

A primary resource you will be looking for is of course the company's own commercial website. Plan to spend significant time reviewing it thoroughly, but don't stop there. Look at articles where the company has been mentioned and blog entries where it is discussed. (This is often a good way to learn less favorable facts about the company's dealings with its employees and also to gain insights into its corporate culture.) Review summaries about the company contained on the websites of Wall Street analysts, business periodicals, etc. Read analyses of their industries and markets to gain a perspective of the company's current and emerging challenges and opportunities.

* Access Web-Based Clearinghouses of Company Information

There are quite a variety of these sites, some free, some at fairly nominal cost, and others involving a hefty fee. You will find many by querying any search engine with phrases like "company information," "company profiles," etc. Here are a few of my favorites:

Hoovers has long been known as an excellent source for extensive company information, but be aware that a very limited portion of the information there is free.

Corporate Information provides free snapshot reports on all companies, and expanded information for a fee.

Vault provides basic company information for free, and expanded information with membership. The site also spotlights employers, features employee surveys, and provides ranking lists.

Forbes provides a variety of lists such as the 400 Best Big Companies, 200 Best Small Companies, Fastest-Growing Techs, Largest Private Companies, Global High Performers, and others.

Fortune/CNN similarly provides lists of the Fortune 500, Global 500, Best Companies to Work For, etc., with reports on them as well a s links to News, Analyses, Blogs, and Press Releases about them.

The Inc. 500 lists and briefly describes the nation's fastest-growing privately held companies.

Wetfeet supplies basic company profiles covering company history, business, profitability, and jobs, and offers expanded profiles with a subscription.

AnnualReports offers free and easy access to companies' annual reports.

* Use Your Library Card

Nowadays many larger library systems allow card holders remote access via the Internet, or you can find information the old -fashioned way by visiting the library in person and enlisting the assistance of the usually amazingly helpf ul research librarian.

Valuable resources to be found in the library include databases of periodical articles such as Onefile and Proquest, Standard and Poor's Industry Surveys, Mergent's company overviews, and a variety of business directories.

The New York Public Library has kindly published an online, printable guide to searching for company information that is available either in print or on the Web. You can access a copy at the NYPL website.

* Talk With People In The Know

Ask your family, friends, and acquaintances if they know anyone who works at the company. If you are lucky enough to identify one or more such treasure troves of information, interview them thoroughly to get an insider's perspective.

* Use Social Networking Sites to Learn About the Company

In the process of leveraging all of the above techniques, you will identify names of people who work for the company. With this information in hand, search for them on social networking sites such as ZoomInfo and LinkedIn, and read their profiles carefully. You will likely find there links to articles by or about them, their personal or business blogs, etc. You may even be able to strike up an acquaintance with one or more employees through such sites. Wouldn't it be great to arrive at the interview able to drop the names of a few people in the company?

Don't Be Like Jack

The bottom line is that it is so easy nowadays to find a wealth of information about a company you are considering or one that you are scheduled to interview with that there is just no good excuse not to do so! Shame on the candidate who shows up at the interview without substantial knowledge about the company whose representative is sitting on the other side of the desk!





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What is the Best Executive Resume Style?

This is one of the most contentious topics regarding resume writing (second only to the "How many pages?" question). I have received an unusual number of inquiries lately regarding the pros and cons of chronological versus functional executive resumes, so I have updated and reprinted one of my previously published articles here.



How Recruiters and Hiring Executives View Functional and Chronological Executive Resumes

• Human Resource professionals and recruiters generally do not like functional resumes, are suspicious of them, and do not have the time or patience to ferret out your qualifications.
• Chronological resumes are the most commonly used and generally accepted style.
• Functional resumes tend to raise a red flag: This individual may be trying to hide career gaps, age, or job hopping.

Features, Uses, and Advantages of Chronological and Functional Executive Resumes

• A chronological resume highlights progressive advancement in responsibility, provides a clear picture of employment history, and enables you to tie your responsibilities and accomplishments together in a logical fashion that makes hiring authorities most comfortable.
• A functional resume allows you to highlight major accomplishments up front regardless of where in your work history they occurred, categorizes accomplishments from different positions, and eliminates repetitiveness in a work history consisting of very similar positions. It also permits de-emphasizing current or recent positions not related to your career objective, frequent job changes or gaps, or apparent demotions in responsibility.
  
  (These last characteristics of the functional resume are, of course, the very reason that employers and recruiters generally do not like them!)

Conclusions

It is my view that it is not to your advantage to use a functional resume unless there is a compelling reason to do so. Between the two choices, a chronological resume would be the preferred style, but I generally recommend a third option which gives you the best of both worlds: a hybrid or combination resume.

The hybrid or combination executive resume starts out with a profile or summary section that gives the reader a succinct overview of the skills and experience you bring to the table, and highlights a few examples of noteworthy accomplishments that are demonstrative of the results you can potentially deliver to the prospective employer's organization.

It's all about making a "business case" up front for your value as a potential hire. However, beware of getting carried away with this opening section and losing your reader. You want it to be readily scanned in a very short period of time, and it should not comprise more than 1/3 to 1/2 of the first page of your resume.



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Executive Job Market Trends

Most executive search firms report that they have experienced a double-digit decline in search assignments during the first half of 2009 in comparison to the same period for 2008. According to a recent ExecuNet poll cited in their RecruitSmart Today newsletter, more than 33% say that they received 50% fewer assignments during the first 2 quarters, with the average dip being 27.4%.

On the other hand, demand appears to be increasing for CEOs, executives, and board of directors members with one important qualification: They can skillfully balance risk management while meeting revenue targets. If you can integrate the latest techniques and standards in risk management and deliver sales and growth at the same time, your talent is sought at a high premium. The need for executives and directors with financial acumen is also high. Recruitment of directors is expected to accelerate as the end of 2009 approaches, so that new board members are in place for annual meetings as 2010 opens.

Ironically, with the possibility of government and court intervention in executive employment contracts, the performance-based compensation contracts that are most common to those executives responsible for P&L or revenue generation are most in the crosshairs. Search firm Michael D. Zinn & Associates recently polled executives and found, not surprisingly, that twice as many who held responsibility in these areas were opposed to government involvement, and thus reluctant to change employers based on the concern their compensation agreements could be changed after the fact.

What does this mean for you when writing your executive resume or interviewing for a position? Be sure to emphasize any expertise and experience you have in risk management, driving sales and revenue growth, and financial control.





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Executives' Top 5 Career Search Tactics

A recent article in myResumeAgent's e-newsletter for job seekers explores the tactics used by today's executives in conducting a job search during the current steep global recession. Lauryn Franzoni of ExecuNet quotes statistics from ExecuNet's 2009 Executive Job Market Intelligence Report indicating that 71% of executives have updated their online networking profiles in the last 3 months, versus 60% who have updated their resume.

However, when asked about the most effective strategies, uploading resumes to online databases and maintaining online profiles trailed networking activities by a wide margin:

1. Networking (70%)
2. Responding to online job postings (14%)
3. Posting resume in online database (5%)
4. Maintaining an online profile (4%)
5. Researching target companies/cold calling (3%)

Ms. Franzoni wisely points out: "While it is clearly important to establish a positive Internet presence in this Digital Age, relying solely on an online profile to build mutual trust--a critical component in developing and maintaining an effective network online and off--is not a productive strategy. To be effective, online networking should be focused, targeted and coupled with in-person interactions designed to strengthen the connections with new and existing contacts."

Social networking sites offer a tremendous opportunity to showcase your accomplishments and expertise, build credibility, and to store and track your contacts. However, don't forget that it's still all about building and maintaining personal and professional relationships. Don't let "high tech" replace "high touch"!

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A Little Perspective Helps When Life Throws You a Punch

I've seen this story in a number of variations over the years, and it always helps to bring me some perspective when times are tough. Running across it again in the PARW Spotlight (one of my executive resume writing professional association newsletters) this morning, it really struck a chord as I witness my executive clients and potential clients in distress every day with the realities of the economy and job market. So, I reprint this story for you:

The Mayonnaise Jar and the Beers

Students began to file into the classroom. A physics professor stood before his class and had some items in front of him. When the class began, without saying a word, he picked up a very large and empty mayonnaise jar and proceeded to fill it with golf balls.

He held up the mayonnaise jar filled to the top with golf balls and asked the students if the jar was full. They agreed that it was. So the professor then picked up a box of pebbles and poured them into the jar. He then shook the jar lightly and the pebbles rolled into the open spaces between the golf balls. He once again asked the students if the jar was full. Tentatively, they agreed it was. The professor next picked up a box of sand and poured it into the jar. Of course, the sand filled up everything else and he again asked if the jar was full. This time the students responded with a unanimous “yes.”

The professor then, unexpectedly, produced two cans of beer from under the lectern and poured the entire contents into the jar - effectively filling the empty space between the sand. The students laughed. “Now,” said the professor, as the laughter subsided, “I want you to recognize that this jar represents your life. The golf balls are the important things - your faith, your family, your children, your health, your friends and your dreams… things that if everything else was lost and only they remained, your life would still be full.

“The pebbles are the other things that matter like your job, your house, your car. The sand is everything else - the small stuff. You see, if you were to put the sand into the jar first,” he continued, “there would be no room for the pebbles or the golf balls.The same goes for life. If you spend all your time and energy on the small stuff, you will never have room for the things that are most important to you.

“So my message today is this: Identify and focus on the golf balls of your life – those few things that are most important to you; those few things that truly make you happy. Play with your children and don’t take their good health for granted. In fact, take time to get medical checkups and don’t neglect your own health. Take your partner out to dinner, snuggle, take a walk and hold hands. Don’t take for granted those things you actually take for granted – like your eyesight, your hearing and the fact that you can walk. Use these gifts of appreciation – the golf balls – to address and overcome life’s other adversities – the pebbles. Take care of the golf balls first, the things that really matter. Set your priorities. Then with your values and priorities firmly established, you will better be able to address the challenges you have with the pebbles.”

One of the students raised her hand and inquired what the beer represented. The professor smiled. “I’m glad you asked. It just goes to show you that no matter how full your life may seem or what adversities you might face - there’s always room for a couple of beers.”

Maybe Obama was thinking of this story when he scheduled his "Beer Summit"? Who knows? But you'll be happier and reduce the stress of hard economic times and an uncertain employment future if you focus first on the golf balls. Then sit down with your family and discuss how to best handle the pebbles. Develop a plan to manage your finances (or what's left of them) in this economy. Next, if a new job is required, get together a knock 'em dead executive resume and search strategy and launch your campaign with the confidence and peace of mind that having the golf balls in place will give you.

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