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Executive Career Management

Archive for March, 2008

A Job Hunter’s Guide to Recruiter Code Words

March 28, 2008 11:46 am

By Sarah E. Needleman, Reprinted from The Wall Street Journal

Recruiters, like many specialized professionals, have pet words and phrases they pull out regularly at work. These code words can speak volumes about what a search executive is thinking about a candidate.

Here is a sampling of terms — some more common than others — that search executives say they often rely on when assessing potential hires:

TMI: Short for “too much information,” this term refers to candidates who give long-winded answers, according to Jo Bennett, a partner at New York-based Battalia Winston International. “Sometimes candidates talk themselves out of a job,” she says. “You want to give the interviewer enough information to make a decision about you, but you don’t want to give so much they are able to find something wrong with you.” She suggests rehearsing concise answers to interview questions with a friend.

FD: Torrey Foster writes the initials for “factual discrepancy” on resumes when he finds errors. A managing partner at Chicago-based Heidrick & Struggles International Inc., he says a falsified academic credential is one common example. “Recruiters who see a degree listed on a resume next to a university will presume at face value that you earned it,” he says. “When it becomes apparent that you didn’t during the course of an interview, you’ll have some egg on your face, and your candidacy will be unlikely to advance any further.” Mr. Foster says it’s acceptable for a resume to note coursework completed toward a degree.

Search virgin: Deborah Sawyer, a partner at Morgan Howard Worldwide in Stamford, Conn., puts this stamp on candidates who don’t know how the executive-search business works. A common misconception is the belief that recruiters are responsible for finding them a job, she says. What they sometimes don’t know is that recruiters are hired by companies to help them fill positions with qualified talent. Such candidates often voice their disappointment or anger to recruiters, which can derail their chances. “I probably won’t ever put them in front of a client,” Ms. Sawyer says.

Noncom: This is Craig Silverman’s shorthand for job candidates who lack strong communication skills. An executive vice president at staffing firm HireAbility.com LLC, Mr. Silverman says he’ll note “noncom” or “NC” at the top of a resume during an interview. “Look the person in the eye, speak in complete thoughts or sentences and be confident in what you’re saying,” he says.

PP: Chris Soderlund says this code for “poor presentation” sometimes comes to mind before he even shakes a candidate’s hand. Mr. Soderlund, placement director for Ajilon Professional Services, a division of staffing firm Adecco SA, says he assesses a job hunter’s look and demeanor the moment he or she sets foot in his Woodland Hills, Calif., office. “Many people don’t realize that they should be what we call ‘on’ as soon as they hit the parking lot of an office,” he says. Examples of poor presentation include slouching, foot tapping, hair twirling, treating receptionists rudely and gum chewing, he says. “People notice those things,” Mr. Soderlund says. “You want to present an air of professionalism.”

Sizzle: Evan Scott, president of Evan Scott Group International in Plymouth Meeting, Pa., makes this note when an interviewee lacks energy and passion. (Upbeat, enthusiastic candidates get “sizzle” and an “up” arrow.) Recruiters want to see candidates express excitement when describing their accomplishments and interest in the job, he explains.

Serial networker: Greg Coleman, a senior client partner in New York at Korn/Ferry International, brands job hunters with this term when they’re found to be working with several search executives at once. “Through conversations among recruiters, their names come up, and it becomes common knowledge that they’re in the marketplace,” he says. Professionals broadening their search beyond opportunities that match their expertise sometimes fall into this practice, Mr. Coleman says. “It looks like they are going about their search in a frenzied way.”

Mortician: Ms. Sawyer of Morgan Howard bestows this label on candidates whose appearance is dated or drab. “It looks like they dug their suit out from the back of their closet,” she says. “It looks like the blood has been sucked out of them.” These candidates tend to make a poor first impression on recruiters, she explains. “This basically says to me that your energy level is not what we want.”

WD: The abbreviation for “walking description” — a perfect match for a job, says Mr. Foster of Heidrick & Struggles.

Purple squirrel: This nutty term references the ideal hire (and was the name of a now-defunct trade magazine for the information-technology-staffing industry). Joel Dibble, senior public-relations manager at Robert Half Technology, a division of staffing firm Robert Half International Inc., explains: “They’re the dream candidate that doesn’t really exist, or if they do, they’re very elusive.”

Write to Sarah E. Needleman at sarah.needleman@wsj.com

Transitioning into Private Equity

March 26, 2008 9:26 am

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I am looking to transition back to finance, more specifically; I am looking for a Director role at Private Equity in NYC or London. Can you please advise on your views how to structure and initiate the job search? In addition, since my CV is not exactly a “cookie-cutter” example of investment banking transition into private equity, can you please let me know if you can recommend headhunters that you think are more used to working with ”non-standard” CVs. 

These days I am not sure there really is a cookie cutter resume. Search firms are interested to see that what you have to offer fits the needs of the company. Your ability to articulate this will help get their attention. The experience you have in bidding and restructuring Pharmaceutical companies with the investment banking experience lends itself well to private equity.

I think you should try cold calling, writing to search firms such as those that specialize in private equity like glocap.com and Spencer Stuart who have a practice dedicated to private equity. Apply to these search firms via their websites.
 
A very large percentage of people get jobs through networking. Some of the most popular sought after positions and most difficult to reach are those in private equity. These firms are small with employees usually under 12 and they don’t advertise their jobs as frequently. While you may find your next position in The London Times your search requires a large amount of behind the scenes research.
 
Look for companies you admire and find out who is backing them. Begin targeting these companies through people you might know through alumni networks or online networking groups such as linkedin.com.

Make a list of what you have to offer private equity firms and how your background fits their needs. Know your accomplishments and have them memorized.
 
Decide how you will approach these companies. I would suggest trying to build relationships instead of asking for a job. This approach is less threatening. Write letters and follow up with phone calls. At the same time contact search firms who have offices in NY and London through SearchConnect, BlueSteps’ online searchable directory of AESC member search firms.

I don’t think there are headhunters that are more used to handling traditional type resumes. I think it would be your responsibility to help the recruiter understand how your credentials fit the needs of a private equity firm. Glocap.com is an excellent resource and a company that specializes in positions in private equity. 

Since you have a job, decide how many hours you have to devote to the job search process. Expect to have at least 6 months to search and try to spend at least 3 to 5 hours a day on your search. 
 
Have a marketing plan that you put in writing. This will give you direction and purpose. Put your objective in writing and write out action steps with deadlines. Follow up all leads with thank you notes and ask when you can circle back to check in. 

Hold yourself accountable. Make a chart with the networking contacts you have made.

  • How many led to a job lead?
  • How many search firms did you contact? (Make a separate note of when to follow up)
  • How many calls did you make in response to ads? (Make a separate note of when to follow up)
  • How many did you make contact with?
  • How many letters have you written to potential employers?
  • How many to search firms?
  • How many informational interviews did you get?

Also write down your goals for the current week.

Feel free to send a follow up question if this didn’t cover all of your inquiry. Good luck with your search!

Peter Felix, AESC President also adds:

Private equity today requires a wide range of skills and experience, both on the investment/deal making side and on the operations management side. The important thing is to identify individual search consultants who deal in private equity and establish contact with them via email or voice mail, preferably via a contact who knows them.

BlueSteps offers the AESC member directory (SearchConnect) as one source but search firm websites also often show profiles of consultant specialities. All the large search firms (Korn Ferry, Spencer Stuart, Russell Reynolds and Heidrick and Struggles) have private equity specialists as well as a number of smaller firms and boutiques.

Googling will also turn up mentions of appropriate consultants. And of course each consultant or private equity executive whom you meet or talk to will also help you to build your list.

Best of luck with your networking.

Executive Resumes - one page or two?

9:02 am

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What is more prevalent for executive resumes - one page or two?
 
I don’t think there is any rule about this anymore. I have seen several pages for executives who have academic backgrounds. Having said that I would not go much beyond 3 pages and would try to keep it to two pages, if possible. If you have just started out in your career, one page could make more sense. The important point is to keep your resume concise and formatted so that the reader doesn’t have to search for the information. The standard resume usually has an objective on the top or a summary followed by a list of employment in chronological order, with a two sentence explanation of each company. Below this state your title and accomplishments in bullets points. This is a good format with the dates of employment to the right. Make sure you list your promotions with dates as well. If you have jumped around a lot, it is a good idea to have a brief explanation as to why you left the company on your resume.

Following your employment history, your education should be listed again with dates to the right to be consistent. Also list any honors or special awards. I have always had a preference for the next sections for “skills and interests”. People generally like to hire people they like and finding initial common ground never hurts. So if you love golf, say so!!

Why Context is Everything on Your Resume by Louise Fletcher

March 19, 2008 3:34 pm

Most executives know that a strong resume needs to clearly highlight results and impact. If you increased sales by 10%, you need to say so. If you saved half a million dollars, that needs to be highlighted on your resume.

But results only tell half the story. Let’s take the executive who boosted sales by 10%. Is that good? I don’t know. If the industry he’s in is growing rapidly, 10% might actually be an unimpressive number. Competitors might be growing at an average rate of 20% or more meaning our sales executive was actually falling behind.

On the other hand, what if his industry is in decline? Or his company had been experiencing a prolonged sales downturn before he joined? Now his 10% increase is much more impressive.

That’s why you must include context in your resume. Context is the key ingredient that will turn an average resume into a stellar sales document.

There are two key ways to include context in your resume. The first is to incorporate a line or two into your job descriptions to set the scene for the accomplishments to come.

Here is an example from the sales executive mentioned above:

XYZ COMPANY, 2000 - 2004
Senior Vice President, Sales

Recruited by new CEO and charged with turning around under-performing sales function. Led team of 24 across 11 territories with annual sales targets of $250 million.

Here, the first sentence sets the stage, allowing the reader to understand that this executive stepped into a challenging situation and was given a specific goal. 

Next, our sales exec can employ the second of my context-setting strategies by including context in his accomplishments bullet points.

XYZ COMPANY, 2000 - 2004
Senior Vice President, Sales

Recruited by new CEO and charged with turning around under-performing sales function. Led team of 24 across 11 territories with annual sales targets of $250 million.

  • Developed sales strategy that reversed 3-year trend of dramatically declining sales and drove a 10% increase within 12 months.
  • Transformed demoralized sales team into a top-notch, highly respected organization by developing and implementing stretch targets, delivering training programs and providing ongoing personal mentoring.

Now each bullet point is a story in its own right and these stories are so much more powerful than the traditional resume, in which the author would highlight the 10% sales increase and the achievement of building a great sales team, without providing any background information.

If you are currently job hunting, go back through your resume and insert context throughout the document. You will notice an improved response rate, and a dramatic improvement in the questions you are asked at interviews, since recruiters will now understand so much more of what you faced.

Louise Fletcher is the President of Blue Sky Resumes and the co-founder and managing Editor of Career Hub. You can read her blog at www.blueskyresumesblog.com.

Expert Assistance with a Job Search

March 18, 2008 2:52 pm

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At what point does one solicit expert assistance on a job search? More specifically, I have actively used BlueSteps, Execunet, TheLadders, linkedIn and other tools to search for openings, networking and self promotion. Does timing and patience provide more benefit than engaging help with the search?

You know the old saying that it takes a full time job to find a job. In fact many experts suggest spending 35 to 40 hours a week to find a job, if you are not currently working. Everyone’s limit to how long they should wait before seeking assistance depends on a number of factors including your financial situation, the state of the economy, your current employment status, your own tolerance for ambiguity and dealing with the unknown and how you are conducting your search. It also depends on what level of job you are seeking and what industry you are in…if its a growing industry or one that is in decline. Are you looking for the right job for your background?  

If you have the resources to get support during this time, a career coach could be helpful in evaluating what is working well and what new approaches you could use as you progress in your search. Having a mock interview by video/phone is a great way to test out your interviewing presence and style and could be very useful. Additional ways a coach can be helpful include reviewing your resume, evaluating what has worked in your search and what hasn’t and setting up a marketing campaign that is customized to fit your needs and help you ascertain where the blind spots might be. 

It is important to find someone who understands your needs and is patient but also will hold you accountable to your goals.