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Executive Career Search After Downsizing

Saturday, 31 May 2003 16:00

Are there jobs out there for me or aren’t there? The economy is coming back, but the jobless figures are up? What’s the deal? Who’s telling the truth?Everyday I meet dozens of executives who tell me they are certain there are no jobs out there. They confidently proclaim their expertise at networking, tell me how many people they have talked to, and that each and every hiring authority they have spoken with has confirmed the bad news, no jobs. I am told, “I have called everyone I know, sent resumes and letters in response to all the dotcom openings I have seen, but no one is hiring at my level. And certainly not at my salary level. There just are no jobs.”

Well now. Who, in fact, is telling the truth? Which reporter, which network is it that has a handle on the truth about hiring? Honestly, I haven’t a clue who knows what. But for a moment, let’s not look at the media. Let’s look at business, and more specifically, let’s look at the recruiting business. You know, those people who find jobs for other people? How are they doing today and what is it they are doing that is different than in the past?

According to recent retained search association surveys, over half of the executive recruiters that existed in 1998 are now out of business. The economic downturn took its toll and sent many to the locker rooms. Those who stayed in business were forced to make significant operational changes in both client offerings and in how they worked with candidates. Where executive search firms previously earned 100% of their income from client retained search, today they have several other offerings. Outsourcing, Consulting, Outplacement, Candidate Coaching and Candidate Agent Programs are just a few of the innovative ways they have changed. So what has this got to do with jobs? You want to know, no you truly need to know the answer, “are there any jobs out there for you and your friends?”

Yes there are. Search firm business is up in the first and second quarters of 2003. Client job orders are on the rise by over 7%, according to surveys and Search Associations like ExecuNet. But the way candidates are found has changed drastically since 1998.

You will find that high level jobs are not typically found on the net. Of all the people who submit resumes on the net, some 30,000,000 plus people for countless types of positions, less than 4% of the jobs filled nationwide are filled via the web. Further, according to SHRM, a national human resource managers association, less than 13% of the current jobs are filled via independent recruiters. “And less than 5% are filled via newspaper ads.

So then, if this is the case, where are the jobs, how are they found and who is finding them? What’s the secret? How do you find a new career?

It’s all about Networking. Networking is today’s primary method of finding a job, a new career, employment, work, something to do, and a paycheck. Networking at all levels is the key to the 21st Century Job Search. Becoming your own personal recruiter and making thousands of contacts locally and nationally. Networking into companies from the top and from the bottom. Talking with the CEO and the Receptionist, the CFO and the Accounts Payable Clerk, the VP Of Operations and the sanitation engineer. You get the picture, right?

Nationally, over 28% of all jobs within major corporations are filled through inter- company HR-New Employee Referral Bonus Programs. That’s right! Companies have learned that by offering a $5,000 reward to employees for referring candidates for job openings, they are reducing the overall costs of hiring and increasing hiring effectiveness. Companies needing quality people can put the word out within their own ranks, offer a few thousand dollars for rewards, and generally find the talent they need in short order. When this method works (28% of the time) they save tens of thousands of dollars in recruiting fees. And the current company employees???? Ha!! Offer a person who earns $32,000 a chance to make an extra $5k and see what happens. All of a sudden you end up with a company filled with brand new recruiters.

So now we know how it’s done. The magic password, the secret handshake, the key to networking into a new career. Or do we? This all sounds good and it’s new, but how in the world do you do it professionally? How do you find out who to talk to? Who on the “inside” knows what’s going on throughout the entire company?

You start with planning, preparation and you build a written plan of action. Your plan should include as much detail as any other plan you have ever created in your entire business career. I am constantly amazed to see executives come to my career search workshops with not so much as a pad of paper to write upon, let alone a detailed plan of action to help guide then through the remainder of their professional careers. Although they would never think of implementing a program at “work” without a pre-approved plan, detailing each and every step in incredible micro-managing detail, most job seekers do not have so much as a scrap of paper with “ideas” written down.

Begin with taking inventory of what you have to offer the world. What are your skill sets, your likes and dislikes? What are your accomplishments and do they match up to your salary requirements? Determine specifically what it is you want to do during your next career. Do not wait for the interview in hopes that the hiring executive will help you “find yourself.” Be decisive, direct, and specific as to what position you are seeking. No one will hire you if you have no personal “direction.”

Build a targeted list of potential employers both locally and nationally. It should represent 10% of the total business population in your area locally, and nationally should include at least 200-300 companies. Do your research and get to know each and every targeted firm. Understand what they do, why they do it, and of most importance, why you would want to be on board. Remember the old saying, “If you don’t know where you’re going, any road will take you there.” Plan your next move and know where you are going.

Now create your marketing presentation. A BIO, a Resume, Scripts, Email templates, Letter templates, Follow Up “stuff”, unique responses to any and all return calls, emails or letters. Your BIO should be one page at the most and easy to read. Your resume, it doesn’t really matter how long it is as long as it is easy to read, interesting and states your accomplishments. Scripts, short and to the point. Same with email and letter templates. Follow-up material? That is whatever comes out of your creative and professional mind. Creative is in, stuffy is OUT.

By now you should have spent 80 hours or a few weeks putting all of this together. And now it’s time to get the show on the road. It’s time for MARKETING CALLS. Time for networking, bonding and getting to know the real business community. OMG!!!

Your first few calls may be difficult for you. Most people find it fairly easy to present a product or service but nearly impossible to present themselves. Myself included, we all find it quite difficult to say, “I’m looking for a job, do you have one?” That other old saying, “Doctor doctor, it hurts when I say that. Well son, don’t say it.” The direct approach is difficult as well as ineffective. We recruiters never make cold calls asking, “Hi, I’m a recruiter, do you have any openings?” Instead we ask who is known to have a need now or possibly in the future. In the case of the job seeker making cold calls, talk to anyone you can, starting with the receptionist. “Hello, this is Don Reid, does your company have an HR New Employee Referral Program?” If the receptionist doesn’t know, ask if he will find out for you. Note: It’s not a great idea to let yourself be passed down to HR at this time. If they do have a referral program, you are in luck and it’s time to turn on the juice. Contact every person in the company you can. Your end goal is to have someone present you to a senior executive, preferably the CEO or CFO.

When asked for a resume, agree to send one but send a BIO. You should know something about the results of sending a full resume. Resume readers use the resume to screen you out, not in. And, with a full resume in hand, there is no real reason to meet you because it is assumed that all pertinent information is written on the resume. Naturally if you have not written the most fabulous resume on the face of the earth, you are not going anywhere. The BIO, if written properly, should create interest in you. It should prompt someone to say, “get this person on the phone” or better yet, “get this person in here, I want to know more.”

While networking through each company; networking with the receptionists, and up to the CEOs’ executive assistants, keep your prime directive in mind, ie., communicating well enough with someone in the organization to establish a solid rapport, thus gaining mutual respect and being perceived as a professional of potential value to the firm. If you do this, and ONLY if you do this, you will find a new career.

For more information on how to wage an effective career search, contact a local or national Career Search Agent or Coach or pick up a career search book at your local bookstore.

Happy Hunting!

Don Reid is president of DMReid & Associates a national Retained Services Executive Search Firm located in Brentwood TN. Mr. Reid is a 20-year veteran of the career search profession and has worked with thousands of clients to help match the right people with the right career. Mr. Reid’s firm currently specializes in executive placement for the Healthcare, Financial Services, and Entertainment industries.

You can reach Mr. Reid by email at dmreid@dmrnet.com

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