The “Why, Not That” Approach: The BEST Way to Assess Job Hopping
According to a recent Business Insider article (1/22/2023, Stacey), Gen Z is not ashamed of “job-hopping.” But does that make all of them “job-hoppers”? What is a “job-hopper,” and is it a bad thing? What does this mean for employers? Most managers see “job-hopping” as less than two years at a single employer or more than three employers in a career history over 10 years. Gen X and Baby Boomers, even some early Millennials, have all been raised believing job-hopping is a bad thing. However, the Great Recession taught us very differently, and this is the era of Gen Z’s formative years, the time when they began to be aware of and influenced by the world around them. The Great Recession taught us that bad things happen to good people. Just because you left a job that the employment market deems as a “good employer” or you have a gap in employment of 3 months or more, that does not mean you are a bad hire, a poor-performing employee, or lazy. There are many reasons people leave an employer or the job market that have nothing to do with the negative pre-conceived notions of prospective employers. Why, not that, is most important. What this Pandemic has taught us is that sometimes there are serious health issues impacting the family that necessitate leaving your employer or changes in your spouse or other family members’ employment status necessitating relocation. There are many different reasons. Additionally, the Great Recession and the Pandemic have uncovered how poorly some employers have treated and still are treating employees, giving them all the more reason to want to find a better place to share their talents. Job-hopping is not necessarily a bad thing. However, what is more important than how many jobs a person had in the last 10 years, or how long a gap between employment, is the reason for the job change and how they spent their time during a gap in employment. If the reason for a job change is a positive one, such as a move that improves the ability of a person to support their family; an opportunity to expand knowledge, skills, and abilities; or because of a spouse’s promotion necessitating a relocation to a place where there was no employer presence, then there should be no reason job changes should be looked at as negative. Even gaps in employment are not necessarily a bad thing, though you must tread carefully as to how you inquire. HIPAA, ADA, GINA, and other employment laws prohibit inquiry about a candidate’s or relative’s Private (personal) Health Information (PHI) or genetic history. You can ask an open-ended question such as, “how did you occupy your time during this gap in employment?” and let the candidate fill in whatever they want. However, suppose they volunteer that it was for health reasons, either for themselves or their family. In that case, you must be very cautious about what you do with that information and your decisions about whether or not to advance the candidate in the process. Still, the question should be asked as it is relevant and will likely remove any negative concerns about why the gap exists. If they have a reasonable explanation, the gap should not be a negative that keeps them from being considered. The labor market has been a candidate-driven market since before the Pandemic, dating back to late 2017 when the number of open positions finally surpassed the number of unemployed. What this labor market has taught us is that there may be enough labor out there for most positions, but the location of the labor relative to the location of the position is very often mismatched. So, even when there are gaps in employment, that does not mean a candidate is lazy. Instead, it may mean their skills are not aligned with the jobs in the market where they reside. In addition, despite the strong desire by candidates for remote or hybrid work, not all jobs can be performed remotely. For example, the recent tech layoffs have left many people with very specialized skills and a history of high wages unemployed. Tech positions of similar scope won’t be readily available for many of these people for a while. So, just because there is a manufacturing machine operator position open in a food processing plant within a reasonable daily commute of a recently laid-off software developer, that does not mean that person is the right fit to fill that role. It may not pay anywhere near what this person needs, given the lifestyle they built from their previous job. But, of course, the reverse is also true. A recently laid off Project Manager of a corrugated box manufacturer likely is not the right alignment for a Director of FP&A position at the logistics company just down the street from them. Let’s not forget that not all employers are as employee-centered, kind, considerate, and caring as you may be. Not all employers understand that when you care for your people, your people will care for you and your business. In fact, too many employers take the skills from their people and give back as little as possible in compensation and benefits. Can you really be upset at a person who makes a change because their previous employer operated in an unethical manner, violated compliance regulations, or treated their people poorly? Likely, a good candidate will not disparage their prior employer, but there are ways of getting the message across in a positive manner. Likely, a candidate with high integrity knows when their employer is unwilling to act ethically and will make the professional decision to leave. That candidate is likely the right employee for you as you can be assured of their ethical focus and care for your business. There are also benefits to employers for people with numerous jobs on their resumes over a 10-year period. Employers today are looking for a lot of soft skills. They need flexibility, adaptability, innovation,
Succeeding in a Virtual Interview for Candidates
Tips you can use when being interviewed virtually. Thanks to the modern workforce enjoying the freedom of choosing their work hours and office settings and also the increased availability of telecommunication mediums, many organizations and individuals are relying on virtual meetings and interviews when exploring new candidates to join their company. Doing so can limit feelings of connection and develop uneasy feelings during an interview. However, when done correctly, virtual interviewing can establish solid rapport, increase the speed of the hiring schedule, and improve the onboarding experience. The following is a tutorial to make sure that you get the most out of your upcoming virtual interview. 1. Are you a procrastinator? No? Now is not the time to start. Get familiar with the software you will be utilizing. Test your speaker, microphone, and video. Make sure to close out of other applications to enhance the speed of your operating systems. Conduct a run-through with a peer to learn the program’s capabilities and gain feedback. If you do encounter issues where a glitch occurs and you can’t hear the response, be direct and honest. There could be a connection issue, so wait for the audio to resume and ask them to repeat what they said. It is essential to be upfront and obtain the answers necessary to make a thoughtful employment decision. 2. People like pretty Is it a coincidence that the Home & Garden Channel (HGTV) generates over $1B annually and is the fourth most-watched network behind three news outlets? Nope! People enjoy settings that make them feel a sense of comfort and organization. Refrain from overly distracting artwork, display items, and TV screens. If video conferencing from an office, that is great. If not, feel free to move things around to allow for a well-lit, neutral area. While preparing your environment, take note of where your fidget items are. Leave the stress ball in the drawer. Put the metronome in the closet. Make sure you silence notifications on your phone and the device that you are using for your interview. Your focus should be on the interviewer. As such, you should have notes and questions on the device you are using. Tip: This will allow you to maintain eye contact rather than looking down and reading from a notepad. 3. Look in the mirror When interviewing virtually, there is no checking in with the receptionist or lounging in the waiting room with other candidates. Before the call, take some time to remind yourself why you are interviewing for this role and organization. Look yourself in the mirror and get motivated. While doing so, make sure that you are well-groomed and well dressed— FROM HEAD TO TOE. Wearing a business appropriate top and sweatpants bottom is a dangerous game to play. Not only will you not be mentally stimulated wearing sweatpants, but it will also promote poor posture, and what if they ask you to stand up and show them the picture of you and your friends at the Grand Canyon up on the top shelf behind you? Nobody wants to see a half-dressed person in an interview. Enjoy the time you have with your interviewer and get to know them – they could be virtually interviewing many candidates that day. Separate yourself by following these tips and appropriately sending a thank you note of some kind promptly after the interview. Putting this tutorial into action may not have you walking out of the building in a blaze of glory, but it will bring a big smile to your face when you walk away from your camera. Click here for our Candidate Resource Center for more information and tips on resume writing, interview preparation, and more to help candidates on the next step of their career journey.
Exit Planning: It can wait until tomorrow, right?
When asked about succession or exit planning, have you given one of these responses? “I think I will leave my business in three to five years.” “The operation still needs me.” “The business is not ready to be transitioned.” “We are too busy to worry about succession.” “I will easily sell it in a few years and walk away.” “I am just not ready yet.” Or perhaps you know someone who has given one of these answers when discussing their potential exit from the business and retirement? Like starting an exercise program, exit planning can easily wait until tomorrow. However, for the Baby Boomers, tomorrow is here. Business owners born between 1945 and 1964 make up 25% of the population but own over 60% of the small businesses. The high ownership levels result from their surge into the job market in the 1970s and the lack of room in corporate America to absorb a much larger and better-educated employee population. From 1975 until the mid-1980s, Baby Boomers opened new businesses at a rate never seen before and not duplicated since. Today, over 5,000,000 Baby Boomers are preparing for retirement. Just as when they all went to college, started new businesses, and became prolific consumers, they will create a flood of small business sales in the United States. So, what is exit planning, and why should you do it? Also, how do you do it, and when should you start? Exit Planning: What is it and Why do it? When a business broker creates an “exit plan,” it usually involves listing the business for sale to a third party. An attorney’s planning focuses on the legal documents that allow the transition of a company’s assets to new ownership. An accountant or financial planner will look closely at tax and inheritance issues, and an insurance broker offers products that reduce the risk of interruption or disaster. It is logical then that exit planning is quickly becoming a significant focus of the legal and financial communities. Although boomers are healthier than prior generations, they all have to retire eventually. Tens of thousands of professional advisors are positioning themselves to provide tax, risk management, wealth management, and contract preparation services to this flood of sellers. You may be in your 40s and 50s and maybe thinking that this doesn’t apply to you. After all, you have plenty of time. However, the answer to that question is another question: then why buy life insurance? Anything can happen to any of us at any time. Exit planning is another form of insurance— just as you are making sure your family is being cared for, don’t you want the same for your business and employees? There are many additional benefits to starting exit planning early— the process of getting your business transition ready means making it more attractive to investors. That includes, but is not limited to: maximizing revenue, lowering expenses, increasing efficiencies, eliminating owner-centric processes, getting the business modernized, up-to-speed, and more profitable. All of these will have tremendous benefits for you and your company regardless of your exit timing. Examining the strengths and weaknesses of the business, IT systems, management team, and customer base are good continual improvement practices that make the company more profitable in the short-term and make it much more attractive for a potential buyer. How to Plan Your Exit? A successful transition starts by determining the planned date of exit and the post-tax proceeds required from the business to satisfy the owner. The target proceeds should be achievable in the chosen time frame. If they are not, you can extend the time frame or reduce the financial goal. After determining schedules and financial information, there are essentially three options on whom will take over as an owner: a family member, an internal team sale, or a third-party sale. Discussions with accountants, attorneys, financial planners, and others likely feel similar to a complicated maze that makes you not even want to start the process. A trained advisor will help initiate the process and will engage in constant communication with all of the parties listed above, with your control of the process remaining intact. The most effective and efficient approach to exit planning is to select a single professional who can manage all the others involved. Creating new entities or sale agreements is pointless unless the tax implications are first understood. Planning to reduce the impact of income taxes may be rendered moot if a company is not in a position to sell. Putting the company up for sale may be a disaster if an owner doesn’t understand what buyers are looking for and how much they’re willing to pay. Not only will this process determine the best options for your eventual exit from your business, but it also provides a screenshot of the company. It helps to identify areas of the organization that can be improved and what we can outsource to others to achieve the highest sale value possible. Eventually, the planning also leads to a smooth transition, operationally, so that your business continues to be run in the best manner possible by new leadership. When to Start? Retiring Boomers will outnumber GenXers reaching ownership age by 4,000 a day! Studies show that the generation reaching retirement age is 2.5 times more likely to want to own a business than those in their 30’s and 40’s. Thus, this severely limits the small-business buyers in our economy today. It often takes a minimum of 5 years to develop most succession and exit plans—a more realistic number might be as much as ten years. Time and potential buyers will likely be the two most significant challenges for you in this process. Once you have a plan in place, you can implement it whenever you chose. Why wait until it is too late? Get the conversation started with the correct parties now. Are you ready? The single largest transaction and transition of your life deserves special attention. Are you planning to exit
The Graduate’s 5-Step Guide to Landing Your First Internship or Professional Job
As an intern at BEST Human Capital & Advisory Group, and as a student at Indiana University, I have experienced a wide range of career courses, internships, resume workshops, and interview processes. The following is a guide and helpful tips to use when navigating the post-graduation world with a focus on entering the professional sector. Colleges have many resources available to their students for career-specific use including workshops, cover letter help sessions, mock interviews and more. At Indiana University, students like myself are required to take career courses before they can graduate. As one goes through this process, which can be seen as a waste of time by many, one thing that becomes apparent is that you are in competition with thousands of your fellow classmates. However, this competition should not be seen as a barrier but added motivation to take your game to the next level. It is important for students and newly minted professionals to hit the ground running. The current economic market is in need of young professionals, especially with unemployment at historic lows. Although many companies send recruiters to universities, there are countless other options to pursue. Time should not be wasted contemplating. Rather, it should be spent with “boots on the ground” strategies to begin searching, applying, and interviewing for positions. Although intimidating, the professional world offers immediate feedback. It is ultimately up to you to use your knowledge and skills to find a position that fits your needs and the needs of the company. Step 1: Prepare for the Search As a new college graduate, it is important to make sure you are up to date. This entails having your resume ready to tailor to any position with your latest experience, skills, and related information presented appropriately (See our post on Resume Writing). Young graduates should also make sure to leave their sweatpants in the dorm and make sure they are fully stocked with professional clothing (a nice interview suit at the very least). These seemingly small preparations can make the job search process much less intimidating. LinkedIn also plays a key role in young professional lives. As graduates enter this new world, their names are a blank canvas. There is often little to no knowledge on a young professional, other than what is listed on their resume or social media (and it is important to keep your Facebook, Twitter, Instagram, Snapchat and other media clean). LinkedIn provides employers an excellent resource to find more background information on a potential job candidate. Thus, new graduates need to have their information current on LinkedIn, along with a relevant professional picture (head shot) to post on the profile. If you can afford it, look into LinkedIn Premium and start building connections. Being up-to-date on LinkedIn is important for employers since it is often the first place they look for more information and is also a critical first impression outside of your resume. Step 2: The Search Initial searches can be done on your school’s career center website, via Google, Indeed, and other search sources, or via your network that you have built through connections. A wonderful source of job postings is available on LinkedIn, where you can easily apply for jobs as your information is already up to date. Throughout my search I had specific roles and organizations in mind. I never ruled any position or organization out of the realm of possibilities, but this can be challenging and extremely time consuming. It is important to keep the competitive motivating factors fresh in your mind to keep you moving through the entire search and open your mind to opportunities you may not have previously considered. Do your due-diligence on researching a company, not only on the job post, but also the company’s website and its employees. As discussed in a previous post, websites such as, Glassdoor.com, Careerbliss.com and Vault.com are excellent resources to use when examining a company, its culture, its interview process, structure and background. By examining companies as a whole, I was able to sift through hundreds of postings to narrow my list of interesting internships to ten. After that, I had to delve deeper into the companies to find what was ultimately the right fit for me. Step 3: Communicate It is common for young professionals to hit a wall when trying to decide which of these positions to apply for. I could have applied to all ten positions. However, I would risk being overwhelmed by multiple hiring processes, which would lead to the creation of generic cover letters and other bad habits in the application and interview process. Instead, I focused and began reaching out to my shortlist of companies and organizations in search of who was hiring the specific position I was interested in. At the very minimum, I would get a name to address my cover letter to, and with further digging, I would be able to open a line of communication with the person who had the power to potentially hire me for the position. It is vital to open a line of communication and begin a relationship with the company of interest to get a better feel for how they operate. Doing this made it easy for me to construct a tailor-made cover letter, which is becoming a lost art, specific to the organization or individual I had been interacting with. I could also alter my resume specific to the position and the company after I had spoken with someone inside the organization. In my case, the communications and personalization of my documents were convincing enough to get my foot in the door and obtain an interview, which is really the purpose of a resume and cover letter. Step 4: The Interview After steps one through three, you are either one of two things: exhausted or excited. If exhausted, now is the time where it becomes important to draw on those past college experiences to gain motivation and recall those ho-hum mock interviews, which was rare practical knowledge