Abacus Group Blog

Open vs. Selective Networking: A Look at Both Sides

2012-03-07T08:30:00.001-08:00

Professionals nationwide are unified in their use of LinkedIn, the largest business social networking site in the world. LinkedIn members are divided in their views of the most effective networking practices. One group asserts that open networking – accepting all invitations to maximize your total connections – is the best way to use LinkedIn, while the other side favors selective networking – connecting only with those you know personally. Each school of thought has both positive and negative implications, which are outlined below:

Networking Method	Pros	Cons
Open	Access to numerous users and their connections (your second degree connections) creates exponentially growing opportunities for networking For employers, larger group of professionals to whom you can expose your organization For employers, higher visibility to potential candidates For candidates, greater access to employers to whom you can expose your professional credentials and personal brand For candidates, a larger network increases the chance of being referred directly to an employer by one of your connections	Irrelevant newsfeed content and network updates Connection to users in fields, industries, position levels or geographic locations that are neither beneficial nor interesting Exposure to spam and/or unwanted advertising Time wasted sifting through second degree connections for relevant users may deduct from networking productivity Impersonal relationship with connections
Selective	Significantly less unwanted correspondence Your connections provide direct access to your own career interests Newsfeed content and network updates are interesting because you either know the users personally or are tied to them by a common professional concern More trustworthy connection base Using discretion in accepting invitations will likely prevent connections to fake accounts	Limiting the exposure of your organization, resume, website or other content to a finite number of users Restricting yourself from access to potentially valuable connections that could contribute to your career or your organization Corresponding only with those who you already know is contradictory to the objective of networking

Informed of the advantages and disadvantages of both networking approaches, you will ultimately need to assess your own professional objectives in order to determine whether being a LinkedIn Open Networker (LION) or selective networker is best for you. Regardless of your choice, you will still need to engage in strategic networking activities to maximize the value of your LinkedIn account. Becoming an Open Networker is useless if you do not make a conscious effort to publicly share content and form meaningful relationships with your connections. In addition you will not benefit from selective networking if you do not have clearly defined criteria for those with whom you wish to connect. If you carefully select and diligently apply the method of your choice you can benefit tremendously from the networking opportunities available on LinkedIn.

Sources:

no author
http://thenetworkchefs.com/2011/09/17-must-do%E2%80%99s-for-linkedin/

Stenberg, Andrea J.
http://ezinearticles.com/?Using-LinkedIn---Are-You-an-Open-Networker-Or-Selective-Connector?&id=2515665

Buijs, Paul.
http://paulbuijs.com/to-be-or-not-to-be-an-open-networker-7447/

Giblett, Peter J.
http://cio-perspectives.com/2011/11/you-should-be-an-open-networker/

Steele, Kathy.
http://blog.desertrose.net/2011/08/02/6-tips-for-generating-business-opportunities-using-linkedin/

How to Enhance Your Relationships with Executive Recruiters

2012-02-29T13:50:00.004-08:00

An article by Bill Barnett in the Harvard Business Review discusses several valuable strategies for senior-level professionals in dealing with recruiters. Barnett’s overarching point is that, while professionals should avoid the fatal mistake of constantly looking for new employment, they can benefit tremendously from establishing steady relationships with executive search consultants – if they know how to do so effectively. Within Barnett’s main idea are four supplementary pieces of advice to high-level professionals:

1. Network with recruiters before the need for a new job arises.

This way, the search consultant will have adequate time to understand the candidate’s personality and preferences.

2. Don’t work with consultants who are concerned only with filling jobs immediately.

The best recruiters are those who are able to talk in-depth to professionals about their careers.
If this criterion is fulfilled, then ask questions about the recruiter’s role within the search firm and his or her past success with finding candidates new jobs.

3. Avoid relying entirely on the recruiter.

Fulfill your share of responsibility in the search by being honest and creating a strong value proposition.
Also, steer clear of “working around” the recruiter in the form of unguided correspondence with a prospective employer.

4. Provide constructive feedback to recruiters when not interested in a position.

This helps the recruiter to better understand the professional’s specific objectives and to gain insight into industry perceptions.

While Barnett’s article is geared toward senior-level professionals, his suggestions also apply to candidates at any level and in any industry, including Accounting, Finance, IT and Administrative Support. Employers in these fields seek candidates with job stability. The technical skills and industry knowledge often required for positions in these fields prohibit large gaps of unemployment. This is why professionals should connect with recruiters before the need for a new job arises, as Barnett suggests. Barnett’s warning about partnering with recruiters who are uninformed about the nature of your work or who have a poor placement history is also valid for Accounting, Finance, IT and Administrative Support professionals, since the work involved in these fields warrants consultation from knowledgeable recruiters who regularly fulfill client and candidate expectations. Barnett’s proposal to avoid relying solely on the recruiter is also applicable to these fields; you need to let the recruiter know your strengths, preferences and career history in order to attain a new position that is a good fit. The last recommendation – providing constructive feedback – is also relevant for Accounting, Finance, IT and Administrative Support professionals because it prevents the recruiter from presenting unfavorable positions and also diminishes the likelihood that the recruiter will disappoint his or her client with candidates who are not genuinely interested in the positions.

Given Barnett’s suggestions for senior-level executives, and their direct transferability to the realm of Accounting, Finance, IT and Administrative Support, one can develop a stronger understanding of how to achieve the best possible results when working with recruiters. While finding new employment can be challenging, following these four guidelines when networking with a recruiter can prove tremendously rewarding in terms of career development. For additional information about new job opportunities, visit Abacus Group’s job listings or contact a representative.

Source:

Barnett, Bill. “How to Network with Executive Search Firms.”

Job Description Perfection: Get a Head Start on the Hiring Process

2012-02-23T08:21:00.002-08:00

An informative Recruiting Blogs article by Bill Humbert calls attention to a common problem within the hiring process: poorly written job descriptions. A job description often serves as an introduction of an organization to a candidate and should therefore comprehensively and truthfully define the responsibilities of the given position. HR and hiring managers must accurately represent their jobs in order to attract the right candidates.

Given that inadequate job descriptions are sometimes a result of poor communication between HR and hiring managers, Humbert provides a list of fundamental questions that must be answered in order to thoroughly explain the position. The article specifically suggests that HR personnel obtain clear information about the duties, projects, planning and goals relevant to the role. Job responsibilities should be divided by frequency of performance, i.e., daily, weekly, quarterly and annually. Likewise, goals should be defined in terms of three-month, six-month, nine-month and yearly intervals. Assuming that this information is communicated to and understood by HR, the necessary skills and experience for the role may be easily determined. Once the job description is drafted, Humbert proposes that a final review with the hiring manager should take place prior to publishing the description on job boards. Following this comprehensive framework, an effective job description can be produced.

For Accounting, Finance, IT and Administrative positions, precise and complete job descriptions are especially critical. Since many roles within these fields require a great deal of technical knowledge and involve the completion of cyclical tasks, HR must be as clear as possible in expressing the duties and objectives for such positions. Unlike other professional fields that allow for more creative freedom, these professional areas entail more structured methodologies that must be explained in job descriptions. If HR and the hiring manager fail to produce accurate descriptions, several negative possibilities can result:

An incorrect or insufficient job posting could attract a number of unqualified candidates, including those who apply independently or who are working with recruiters. This is a tremendous waste of time, especially when an organization’s progress depends on fulfilling key positions.
A poorly written job description may deter qualified candidates from applying. It would be very unfortunate if a highly talented candidate is dissuaded from applying for a job because of inaccurate information in the job posting.
HR and hiring managers’ inability to properly explain positions may lead to later difficulties in carrying out the objectives for new employees.

Bottom line: a candidate can only respond to a job posting based on the limited information that is provided in a job description. Likewise, a recruiter searches for candidates based on the same specifications for the role. In terms of job descriptions, candidates and recruiters are external participants; they only gauge the scope of the role based on the explanation provided. The role of HR and hiring managers to explicitly define positions is therefore imperative, as they alone have insight into the nature of the job. By providing complete and accurate job descriptions, they elicit the opportunity for both candidates and recruiters to react in ways that will be of maximum benefit to the organization.

Source:

Humbert, Bill. “Building an Effective Job Description.”

The Question of Cultural Compatibility

2012-02-16T10:36:00.000-08:00

In a previous Abacus Group Blog (November 2011), we discussed candidate selection strategies for employers, including some brief guidelines regarding the assessment of cultural fit. However, more in-depth information is necessary for hiring managers to adequately understand and properly apply the notion of cultural fit to the hiring process. Cultural fit specifically refers to how well the candidate’s personality, attitudes, values and beliefs align with the non-business aspects of the organization, and is just as vital as other traits such as experience, education and technical skills. As an employer, you can significantly improve hiring effectiveness with a deeper understanding of the following:

Assessment of your own organization’s culture.

Evaluation of a candidate’s ability to mesh culturally within the firm.

A keen understanding of why cultural fit is important to candidate selection.

In order to logically make cultural fit conclusions about candidates, you must first have an in-depth comprehension of your organization’s culture. Without this understanding, you lack part of the basis on which you can appraise candidates. You may find this process difficult, as the firm’s cultural elements have likely become imperceptible and routine to you by now. Start by taking note of some tangible aspects, like work schedules, travel requirements and the physical office or desk setup. Also review the company’s hierarchical structure; in particular, look at the levels of management and the extent to which various employees have achieved promotions. From here, you can move onto the assessment of action within the workplace, including careful observation of communication and project completion. Specifically, pay attention to how employees actually correspond with one another, their use of tones or expression of certain emotions and the frequency of interaction among employees. Be aware of how projects are accomplished within the organization as well; do most people work independently, or are there usually multiple tasks that require collaboration between two or more employees? In addition, study the degree of urgency in which projects must be carried out to gauge the organization’s sense of efficiency. Finally, spend a considerable amount of time focusing on the company’s values and determine what shared aims exist within the company. Examples might include an emphasis on supreme customer service, the production of high-quality work or a strong team-oriented mentality.

Once you have developed a strong understanding of your organization’s cultural environment, you’ll be able to apply your knowledge to the candidate selection process. Much of cultural appraisal will take place during interviews, which function to expand your evaluation beyond the candidate’s resume and prerequisites. However, other techniques are also helpful. Below are several recommended techniques to assess cultural fit:

Ask questions about behavior in past work scenarios. The candidate’s self-described actions and supporting details will help you to determine their congruence with your specific organization. Assume, for instance, that you ask a candidate to discuss a past solution to a personal conflict in a work environment, and they describe their success in tactfully confronting a colleague to resolve a sensitive difference. If your organization relies heavily on interpersonal communication, such a candidate would be an excellent match for that specific aspect of your corporate culture.

Have candidates relay some characteristics of their ideal professional position. In their answer, note any similarities between their desired role and your organization’s values. A response that includes, “I would like a position in which my work requires frequent collaboration with colleagues” would be perfect for an organization that highly values teamwork.

Take advantage of the opportunity to learn more about the candidate’s personality when speaking with references. Past employers can offer some personal insight into the candidate’s professional competencies and behavior that is otherwise unavailable.

Social networks are another helpful tool for determining cultural fit; the manner in which candidates represent themselves virtually may reflect their real-world communication skills and interests. Take the time to browse the candidate’s Facebook, Twitter and LinkedIn profiles if publicly available.

A final consideration is to administer fit tests, which can be created internally or purchased externally, to candidates. Such tests can help you to better analyze the candidate’s values and character, while adding a quantitative element to a process that is otherwise quite subjective.

As an employer, you also need to know why cultural fit is significant for both the hiring process and your organization at large. You might be under the impression that the most important part of hiring is the candidate’s alignment with prerequisites like years of experience, education, software proficiency and intelligence. Despite their vitality to the candidate’s ability to succeed, position requirements alone do not fulfill all considerations for hiring. Above all, your organization needs employees who align culturally with its daily functions and long-term objectives in order to thrive in the marketplace. Employees who mesh well with the cultural environment are more likely to enjoy their jobs and, therefore, produce better quality work. By hiring candidates who are a poor cultural fit for the organization, you directly stifle the company’s performance. While you may be tempted to overlook the cultural aspect of candidate selection, be advised that the benefit of a convenient hiring decision may be outweighed by the individual’s later dissatisfaction or lack of motivation.

Cultural assessment and application is an ongoing process that requires review on a regular basis. Changes in the organization’s upper management, quantity of staff, market performance or adaptation of new technology will repeatedly alter a company’s culture. As a hiring manager, you should consistently monitor adjustments within your firm in order to select the best possible candidates for your organization. The incorporation of effective cultural assessment into the hiring process may not be easy, but with the proper tools and knowledge, you can contribute to your organization’s success through the selection of candidates who are both well qualified for the position and compatible with the firm’s culture.

Sources:

Fyock, Catherine D. and Joan P. Brannick. “Assessing Organizational Culture.”

Heathfield, Susan M. “Assess Cultural Fit When Interviewing Candidates.”

Heathfield, Susan M. “How to Understand Your Current Culture.”

Lewis, Alan. “How My Company Hires for Culture First, Skills Second.”

Wheeler, Kevin. "4 Ways to Learn if Candidates Fit Your Culture."

Dissecting the Interview Process: Guidance for Both Candidates and Employers

2012-02-09T13:16:00.000-08:00

For both job seekers and hiring managers in Accounting, Finance, IT and Administrative Support, interviewing is arguably the most difficult part of the employment process. From the candidate’s point of view, the idea of speaking directly with a potential employer can be stressful, as exact interview questions can never be fully anticipated. Even if the candidate is confident in his or her ability to succeed in the new position, there is a possibility for error during the interview. Interviews can be challenging for hiring managers as well; unlike resumes, which provide objective presentations of candidates’ qualifications, the interview is more of a subjective process – so employers may struggle to distinguish the interviewee from multiple, equally talented candidates. The concerns of both candidates and employers can be alleviated significantly with the appropriate preparation. Below, the typical interview is separated into topics with corresponding guidance for each. By incorporating these techniques into the interview process, the candidate can maximize his or her marketability and the employer can select the best individual for an open position.

Topic	Candidate	Employer
Introduction	Prepare for the typical interview question, “Can you tell me a little bit about yourself?” Concisely explain past employment experience, professional characteristics and key areas of interest that are related to the specific role. The objective for candidates is to briefly and logically present themselves as suitable for the position.	Use this introductory question to determine how well the candidate can articulate his or her fit with the role. Candidates who provide irrelevant personal information to introductory questions miss the mark. Those who can effectively relate their current and past experience and accomplishments to the role have successfully answered the question.
Interest in the Organization	Demonstrate a genuine desire to work for the company. Research the organization’s competitors, objectives, accomplishments and challenges, and incorporate into the interview. Leverage this knowledge to convey the intent of making personal contributions to the firm’s growth. Showcase further interest by asking the interviewer what he or she likes about the firm.	Determine whether or not the candidate truly wants to work for the firm. Ideal responses include specific information about the organization and the industry. Be wary of candidates who struggle to articulate their interest in the firm or provide superficial answers; such applicants are unlikely to be assets to the company.
Nature of the Position	Convey sincere interest in obtaining and excelling in the available role by providing specific examples. Candidates must familiarize themselves with the responsibilities of the position in order to effectively explain how past experience, skills and knowledge will factor into their success in the role. To gain additional insight and appear serious about the role, ask the hiring manager what challenges can be expected.	Ascertain the candidate’s competency in handling the specific position. He or she should be able to speak knowledgably and confidently about the technical aspects of the role. A successful candidate will provide valid reasons as to why he or she would be a good fit for this position.
Strengths/ Weaknesses	Be ready to supply at least three professional strengths. Always be able to support strengths with very specific examples from positions held. For example, if the candidate asserts excellent managerial skills, he or she can back up the claim by citing improvements made by a team under his or her supervision. Questions about weaknesses are typically a bit more difficult, but the best suggestion for candidates is to discuss legitimate weaknesses that they are actively trying to improve and which do not affect their abilities to succeed in the positions being sought.	Discuss strengths and weaknesses to gauge what value the candidate can potentially add to the organization, and whether or not the candidate recognizes and is willing to learn from mistakes. Candidates who provide a list of strengths without substantial evidence lack self-awareness, are being dishonest or a combination of both. The same applies to questions about professional weaknesses; the candidate should be able to comfortably discuss traits that need improvement.
Compensation/ Benefits	Never should the candidate bring up the topic of compensation or benefits. If the interviewer asks for a desired salary for the position, the candidate should respond that “any reasonable offer that is in line with what the market is paying” is acceptable. The objective is to emphasize that the job opportunity itself, rather than compensation, is the candidate’s major motivation for applying for the position.	Candidates who ask about compensation or benefits during an interview are not focused on the opportunity itself. If asked, and the candidate provides a salary number that is too high, the employer should question why he or she feels such a figure is deserved. On the other hand, a candidate who gives a number that is far too low seems to undermine their own value.
Closing	Be sure to be prepared to respond if asked, “Do you have any other questions for me?” Relevant questions for the closing of the interview help to solidify interest and indicate that the candidate has done research.	A strong candidate will have some outstanding questions about the position or organization. A weaker individual will draw a blank, conveying boredom or unpreparedness. Let the candidate know the next steps in the firm’s hiring procedure.

The Golden Rule for Resigning

2012-02-02T10:00:00.000-08:00

If you are employed, the urge to resign from your current job might occur for any number of reasons. You might be exhausted from unexpectedly having to work overtime or feel annoyed by your unreasonably long commute. Maybe your supervisor’s discouraging attitude has become intolerable or you’ve witnessed undeserving colleagues receive promotions while your career remains static. Perhaps the opportunity for growth does not exist in your position, the nature of the work no longer interests you or you feel that you are being significantly underpaid. Such grievances are among the many catalysts for wanting to quit your job, and they are all certainly valid. The mistake that many professionals make, however, is failing to obtain another job prior to resigning. Quitting your current job without the security of a new one will likely pose serious consequences to your professional, financial and personal well-being.

From a professional standpoint, resigning prematurely can have harmful effects. Once you quit, you can’t truly determine how long it will take for you to find new employment. Being out of the workforce for some unknown length of time is a major risk to your career development for three main reasons: First, the longer you are unemployed, the less valuable you become in the eyes of hiring managers. When you aren’t working, you lose – to an extent – professional assets such as industry knowledge and technical skills. Employers therefore prefer candidates who are gainfully employed. Secondly, when you are unemployed, you lose your power to negotiate compensation; since you are essentially earning $0, a prospective employer will not be inclined to make you the strongest offer. Thirdly, if you do find a job after a significant period of unemployment, there’s a strong possibility that you will have taken the job out of desperation, only to realize that the role is a poor fit. Putting yourself in that type of situation will probably lead you right back to where you began – yearning to resign.

Quitting your job too soon can also be detrimental financially. Again, the time it will take to secure a new position is uncertain, especially in this troubled economy, so – unless you have unlimited financial resources – you’ll be jeopardizing your financial security. Even if you have saved enough money to last several months, you can’t guarantee your funds will be sufficient when you lack a steady income. As a further financial consequence of quitting too hastily, you may be ineligible for unemployment benefits. Although dissatisfaction with your current salary may be your motivation for quitting, it’s much better to have an income than to have none at all.

Last, but not least, be mindful of the impact that an untimely resignation will have on you personally. Indefinite unemployment disrupts your daily routine and can leave you feeling unproductive and unstructured. While resigning prematurely may not bring about the sense of failure or embarrassment triggered by a termination, it can create tremendous frustration for you in the long run. Even if your current position is in some way psychologically straining, be aware that quitting without another job will intensify your distress.

Given the negative professional, financial and personal effects of leaving your job without a new one, you should adhere to the “golden rule” of resignation: You are much are better off remaining in your current position than subjecting yourself to indefinite unemployment. If you are an Accounting, Finance, IT or Administrative professional who is currently employed and seeking a new position, you can contact an executive recruiter from Abacus Group to facilitate your search, or browse our listings of active opportunities.

Sources

“6 Reasons Why You Shouldn’t Quit Your Job.”

Besson, Taunee. “Should You Quit a Job You Hate Before Finding a New One?”

“Don’t Quit Your Job.”

Hildebrand, Deborah S. “Should Employees Quit Before Finding a New Job”

McArdle, Megan. “Why Unemployment Matters.”

Top 10 Benefits of Partnering with a Recruiter to Optimize Your Job Search

2012-01-26T06:57:00.000-08:00

As a professional seeking new employment, you might find yourself asking, “Why should I use a recruiter for my job search when I can rely fully on internet job boards?” Although technology has certainly facilitated the hiring process, this common assumption fails to consider an abundance of additional resources that are offered only by recruiters. The following is a list of the 10 major advantages that can be gained through the use of a recruitment firm:

1. Experience the refreshment of a human touch through the job search process.
Looking for jobs without a recruiter’s assistance can often feel impersonal. It may seem that employers only care about your qualifications, your resume and your ability to express yourself clearly and competently during interviews, without much regard for your individual needs. Recruiters, on the other hand, introduce a human element into the job search process; they understand, for example, candidates’ dissatisfaction in their current jobs, and genuinely want to help job seekers find roles that will enhance their quality of life and present opportunities for growth.

2. Obtain new insights about your field of interest.
Functioning as gurus in your niche market, recruiters can provide incredibly beneficial information to job seekers. They are knowledgeable about the status of the job market, and are aware of which firms are looking to expand and which are looking to downsize. Additionally, recruiters are very familiar with the responsibilities, requirements and base salaries for a wide variety of positions within your field.

3. Access positions that have not yet been publicized
Through their direct relationships with hiring managers, recruiters are often made aware of new positions before they appear on public job boards. In the event that a non-publicized opportunity fits your background, a recruiter can let you know about it before the rest of your competition finds out. As a result, you will vie for the position with a significantly smaller applicant pool, thereby increasing your chances for hire.

4. Learn how to improve your interview performance.
Since recruiters want only to see their candidates succeed, they will be happy to coach on how to best perform in an interview. Recruiters can offer guidance as to what types of questions will be asked and what types of responses will be deemed favorable.

5. Let yourself be presented to an employer by a reputable source.
When you apply for a position on your own, the employer most likely will have no idea who you are; you are merely a resume without a face or personality. By allowing yourself to be presented to the company by a recruiter, however, you bolster your chances of getting an interview through your connection to a credible source who can “sell” you to the employer.

6. Diminish the burden of your own job search efforts.
As a professional looking to transition to a new job, you may dread the idea of having to devote countless hours to browsing job postings. The role of the recruiter is to do much of the legwork for you. While you should not rely on recruiters entirely to guide you through your job search, they can certainly lighten the load on your otherwise busy schedule.

7. Expand your network.
A particular recruiter may not always have access to your ideal position immediately or be fully knowledgeable of the technical aspects of your search. They do, however, have a network of other recruiters in their firm who will likely be aware of a future opportunity or will be able to assist you with your particular area of professional specialty.

8. Know in advance exactly what the employer is looking for.
While employers generally include a list of requirements for available positions, it is possible that some of their preferences will not be mentioned in the job posting. Recruiters, however, are given specific instructions for selecting candidates. They can let candidates know which skills to highlight in a resume, cover letter or interview to best appeal to the employers’ needs.

9. Gather valuable feedback after an interview.
Most of the time, employers do not provide helpful feedback to candidates who are passed over. Those who are turned down after an interview are simply told that they have not been selected for the position, without further information. However, employers will often provide recruiters with specific reasons for rejection, which can then be relayed back to the candidates. Constructive criticism is necessary in helping candidates refine their approach in future interviews.

10. Develop a long-term relationship for future opportunities.
Working with a recruiter to find a new job is not necessarily a one-time engagement; by securing a new position with the help of a recruiter, you know that you can depend on him or her to assist you again in the future. A strong relationship with your recruiter can help you to acquire other opportunities as you progress in your career.

Sources:

Lipschultz, Jeff. “Job Seekers’ Not-So-Secret Weapon - Recruiters.”

Lytle, Stephen. “The Benefits of Working With a Recruiter.”

Price, Joey V. “No Man is an Island: The Case For Using Recruiters in the Age of Social Networking.”

From a Passive to an Active Job Search: Building Your Online Brand

2012-01-20T07:29:00.000-08:00

The majority of professionals, including those in Accounting, Finance, IT and Administration, pursue job searches in a similar fashion. Typically, individuals look for new employment by browsing through and responding to Internet postings and possibly networking with other professionals. While these techniques are certainly viable and necessary components of the job search, they alone are not sufficient. The competitive landscape of today’s job market requires professionals to extend their employment searches beyond traditional methods; specifically, job seekers should utilize the Internet to promote their personal “brand.” Personal branding is a strategy that allows for the demonstration of unique strengths and achievements to differentiate yourself from the competition. As recruiters increasingly use the Internet to source candidates for new roles, professionals who have not yet invested in the formation of a strong online presence are at a serious disadvantage. The following article provides some essential suggestions for creating and sustaining an effective online brand.

The first and most challenging part of establishing an online brand is to conceptualize what sets you apart from others in the job market. This process includes the assessment of professional ambitions, values, strengths and interests. The conscious identification of these traits allows you to move beyond the confines of the traditional professional description methods, such as resumes, to more specialized and effective communication about yourself. Through the proper combination of these qualities, you can effectively utilize your online personal brand.

The next step is to understand how to efficiently use the most popular social media websites, namely LinkedIn, Facebook and Twitter. Recruiters and employers will almost certainly search for potential candidates on these, so it is highly recommended that you both set up and maintain a presence on all three of these social networks. For LinkedIn, the most crucial online tool for job seekers, you should be certain to fill out your profile thoroughly and update it regularly. Particularly important aspects of using LinkedIn include key words, highlighting past accomplishments, obtaining recommendations and joining relevant networking groups. For Facebook and Twitter, in addition to obvious guidelines, such as not sharing offensive or inappropriate material, users are encouraged to generate content about their own field-related interests. Professionals should be careful to limit themselves to just a few major social networking accounts; joining too many will make it difficult to effectively scale your brand and maintain an active presence on all sites.

After some initial professional social media involvement, job seekers should advance to more sophisticated online branding techniques, specifically the creation of your own domain name and/or blog. The domain or blog name should ideally be the professional’s first and last name. If unavailable, some variation of the name and career interest or certification can be combined; for instance, www.SarahJohnsonCISA.com could be used as an alternative. In addition to generating positive Google search results, a personal professional website can serve as an easy resource for recruiters and employers looking for more detailed and lively information about a candidate. The website should provide links to both the owner’s resume, as well as all active social media accounts.

The importance of a well-maintained online presence is not limited to those who want to change jobs. Even professionals who are perfectly happy in their current jobs should be implementing these recommendations. The desire or need to find new work can arise unexpectedly, so it is useful to be prepared by having at least the foundation of an online brand built in advance. Further, those who are comfortably employed and have established a professional Internet presence can have the opportunities to network, earn tremendous respect from their peers and continuously educate themselves about new industry developments.
Building an online presence requires dedication, frequent upkeep and a substantial amount of virtual interaction with others on the Internet. However, active online personal branding is significantly more effective than merely searching for jobs without fully highlighting your personality and talents. If you have not yet begun creating your unique virtual image, Abacus Group recommends that you begin as soon as possible, enabling your career to grow through positive online exposure.

Sources

FINS. "Cyber Resume: Building Your Online Presence."
Goldsmith, Marshall. “Authentic Personal Branding.”
Grant, Alexis. “How Job Seekers Can Build Their Online Brand.”
JobMob. “Job Search 2.0: Build Your Online Reputation to Attract Jobs.”
Miller, Jonathan. "4 Ways to Start Building Your Personal Online Brand."

Promising Outlook for Abacus Group’s Job Market

2012-01-18T06:28:00.001-08:00

With 2012 upon us, reports of economic turbulence continue to trouble professionals. For many job seekers, national news networks serve as major resources for market-related information. Yet trends differ significantly by job field, location and qualifications, and therefore such media rarely accounts for employment in niche markets. Reports and projections regarding the American economy as a whole can be irrelevant to an individual’s search for new employment. To alleviate the concerns of its current and prospective candidates, Abacus Group has compiled data relevant to the specialized groups of professionals for which it services.

Recent employment statistics demonstrate strong growth in Accounting, Finance, IT and Administrative Support, the professional fields in which Abacus Group assists job seekers. For Accounting, the US Department of Labor estimates that over 200,000 new positions in the field will have been created between 2008 and 2018. In line with this forecast, SimplyHired.com cites a 31% jump in Public Audit roles since April 2010 (shown above). In addition, new tax compliance regulations, coupled with the economic downturn, have stimulated demand for Tax Accountants; the top 100 Public Accounting firms recorded a 7.13% surge in Tax compliance positions.

The Department of Labor has indicated that employment in the Securities and Financial Investments industries will increase 12% by 2018, due in part to both baby boomers’ retirement and the internationalization of securities markets. The future of the IT field is positive as well; the most recent AICPA Economic Outlook Survey predicts an overall 2.7% increase in IT expenditures which is up from 2.0% predicted the previous quarter. Accordingly, the Department of Labor has ranked Network Systems and Data Communications Analysts as the second-fastest growing professions. Rapid advancement in firms’ IT capacities is anticipated to generate 53% more openings for such professionals within the next seven years.

Several areas within Administrative Support also look quite promising. Customer Service Representatives, Office Clerks, Executive Secretaries/Administrative Assistants, and Receptionists were all included in the Bureau of Labor Statistics’ list of 20 occupations projected to have the largest increase by 2018.

In terms of geography, Abacus Group services candidates in New York City and surrounding areas. Research suggests that the region’s job market is gaining momentum. Indeed.com cites that salaries for CPAs in New York City are 25% higher than those nationwide. The quantity of accounting jobs, in general, is also larger in New York State compared with the rest of the country, according to Odin Jobs (shown above). Additionally, employment prospect rankings developed by the New York Department of Labor categorize Accountant and Auditor roles as “very favorable” in New York City, with over 1,500 annual openings. The outlook for Financial Analyst, Financial Examiner and Information Systems Manager, Legal Secretary and Paralegal positions are also considered “very favorable." Additionally, the salaries for Secretary and Administrative Assistant roles are typically at least $7,000 higher in New York and New Jersey compared to the national average.

Positions that require advanced education or professional certifications comprise a large portion of Abacus Group’s job market. Job placement for candidates with such qualifications has shown notable improvement. Opportunities for MBAs, for instance, have increased considerably since 2009, one of the slowest hiring years for business school graduates. In May 2011, CNN Money reported that 66% of employers planned to hire new MBAs within the next year, up from 50% in 2009. In fact, researchers at Michigan State expect that MBA hiring will spike by 6.4% in 2012. Compensation for MBA graduates has increased as well; in 2009 the average MBA base salary was $86,299 and this year, it climbed to $91,433, according to the Graduate Management Admission Council. The Certified Internal Auditor (CIA) designation is another promising qualification for job candidates, with 18% overall growth projected from 2008 to 2016. Similarly, positions that require the Certified Information Systems Auditor (CISA) have risen 12% since May 2010.

The above statistics provide a snapshot of Abacus Group’s market for Accounting, Finance, IT and Administrative Support professionals in the New York City area and these statistics differ considerably from those of the overall American economy. For information about specific opportunities in these fields, visit Abacus Group’s job postings or contact a representative.

Sources

Bureau of Labor Statistics. “Occupational Outlook Handbook, 2010-11 Edition”

Byrne, John A. “Report: MBA job markets make a comeback”

Diploma Guide. “Internal Auditor Career Overview”

FINS. “Tax Accounting Jobs and Hiring Information”

Journal of Accountancy. “Survey of CPAs Shows Economic Pessimism Still Prevalent, But Shrinking”

Moton, Tony. “Big City Careers Shifting”

Mueller, Meg. “Personal Secretary Salary & Career Outlook”

New York State Department of Labor “Employment Projections”

Odin Jobs. “Accounting Job Market Overview”

O’Shaughnessy, Lynn. “10 job market trends grads need to know”

Simply Hired. “Keyword Trends”

Symonds, Matt. “A Resurgent M.B.A. Jobs Market”

Ring in 2012 with 5 Innovative Management Tips

2012-01-03T06:22:00.000-08:00

A December 13 guest Forbes article by James Slavet of Greylock Partners, a Silicon Valley-based venture capital firm, provides employers with several valuable management suggestions. In recognition of employers’ tendencies to focus heavily on outputs, like revenue or income, Slavet recommends that managers quantifiably assess employee inputs for the best possible results. Analogizing a corporate staff to a Little League baseball team, the article perceptively explains that a coach cannot demand runs without evaluating the players’ abilities. Accordingly, a manager must internally measure his or her staff’s progress to properly develop external expectations; Slavet’s article includes five related tactics. The first two techniques involve employees’ mentality during actual or attempted work completion. Managers should be aware of productivity-interruption and anxiety-boredom relationships to ensure that employees are both working at capacity and are sufficiently challenged. The third suggestion seeks to improve the effectiveness of staff meetings by using a simple rating system, as many conferences are often useless. To boost team morale, the article’s fourth proposition is to have staff members report one source of improvement on a weekly basis. Lastly, the article reminds managers to be conscious of the amount of negative versus positive feedback they provide to their staff.

Are Slavet’s ideas relevant to Accounting, Finance, Human Resources and IT? Absolutely. For supervisors in these fields, precise results are absolutely vital. Fiscal deadlines or client requests leave little room for error. Additionally, the methodological nature of the work prevents the flexibility enjoyed in more creative job roles. As such, managers may struggle to accept to the validity of Slavet’s propositions. They may argue that results are everything in defense of their current, outcome-focused managerial strategies. However, close measurement of employees’ daily engagements – the foundation of an organization’s larger accomplishments – is applicable to managerial success in every line of work. Interruptions, boredom, inefficient meetings, lack of personal improvement and excess negative feedback are problems common to all professionals, including those in Accounting, Finance, HR and IT. By implementing the article’s five metric recommendations, managers can transfer some of their concerns with the measurement of tangible outputs to the equally significant assessment of internal, personal processes.

Assessing and Asserting Your Market Value

2011-12-20T08:39:00.000-08:00

Assessing and asserting your monetary value in the marketplace is a crucial component of any job search. In addition to the role itself and your cultural fit within the organization, compensation must be considered. Ignoring any one of these elements can lead to job dissatisfaction and impede long-term career growth. In particular, failing to formulate realistic compensation targets can significantly limit your ability to effectively negotiate salary and stay competitive in the market. Professionals must establish and defend practical compensation goals in their search for new job opportunities.

In order to accelerate the job search process, a candidate must have a strong understanding of his or her market value. There are many ways to estimate this, including both external research and personal evaluation. First, professionals should frequently examine postings of local jobs for which they qualify. In many cases, job descriptions include the salary ranges being offered, which provide concrete expectations for candidates. Professionals can also utilize online analytical tools that generate approximate ranges, such as Payscale.com, which considers one’s job title, responsibilities, years of experience and professional certifications in determining estimated salaries. Candidates should also consider factors that can possibly decrease their market value, such as extended periods of unemployment. “Employers typically make the assumption that a candidate has a greater motivation to take a job (even at a lower salary) if they don’t currently have a job,” explains Phil Rosenberg of ReCareered.

After determining one’s individual market value, a candidate can apply his or her findings to the job search process. Since salary ranges are typically cited in job postings, candidates can exclude positions that fall short of their targets. Yet despite the advantage of knowing the approximate salary range being offered for a role in advance, exact compensation cannot be ascertained until after the interview process is completed. In the event that the hiring manager’s offer falls below the candidate’s salary standard, the candidate may request that his or her market value be taken into consideration. Such negotiations must be pursued carefully and respectfully, however; asking for an unreasonable increase might destroy the offer altogether. Requesting an increase that is in line with what the market is paying, with supporting evidence of one’s value, is a rational approach. Candidates should always find out as much as possible about the opportunities for advancement and ancillary benefits before flatly rejecting any offer.

In many cases, employers are simply unable to fulfill a candidate’s compensation expectations. Final offers are often impacted by economic conditions and budgetary constraints within the organization, rather than the belief that the candidate is undeserving of a certain salary. Assessing and asserting one’s market value is certainly important, but, ultimately, many candidates will miss their marks. The remaining challenge for professionals, then, is to strike a balance between desired compensation and what a hiring manager is prepared to offer.

Sources

Career Builder. “Six Steps to a Higher Starting Salary”

Rosenberg, Phil. “What Salary Should You Expect for Your Next Job?”

Ryan, Liz. “Ten Quick Salary-Negotiation Tips”

Abacus Group Client Cocktail Reception, 12/7/2011

2011-12-09T12:55:00.001-08:00

On Wednesday, 12/7/11 Abacus Group hosted our inaugural Client Cocktail Reception.

All in attendance had a great time. Here are some pictures from the event

Unexpected Hiring Increase Reduces Unemployment Rate to 8.6%

2011-12-06T06:43:00.000-08:00

On Friday, the Department of Labor reported an unexpected 0.4% increase in employment, marking the sharpest improvement in eleven months, according to Reuters. Despite economic forecasts of an unemployment rate of 9.0% for November, an impressive 120,000 new jobs were created last month, which represents a 20% increase over jobs created in October, per the New York Times. The report also revised its figures for September and October to account for an additional 72,000 jobs added during those months. The majority of job growth transpired within the retail and healthcare industries, and reflects both permanent and temporary staffing. Government jobs, on the other hand, suffered cuts. Although more substantial economic recovery is not expected to take place for quite some time, Friday’s report shows that employment has grown for four consecutive months. This news may provide comfort to those professionals who are actively pursuing new employment.

Avoid the New Year’s Job Search Rush

2011-12-01T10:13:00.001-08:00

Is your New Year’s 2012 resolution to begin a search for new employment in Accounting, Finance or IT? If so, there are a number of possible reasons why you’ve chosen the beginning of the New Year as the time to explore more enjoyable, challenging or lucrative job opportunities. Perhaps you believe that no jobs are available at the end of the year. Or maybe you’re overwhelmed by the stress of the holiday season and want a break before pursuing new positions. Or perhaps you’re waiting for the convenient feeling of January’s fresh start. Regardless of your motivations, you are one of many business professionals who are planning to start their job search as the year opens.

As the Abacus Group Blog has emphasized previously, differentiation is a crucial component of the job search process. Just like your personal accomplishments, resume presentation and interview performance, timing is an important dimension of an effective job search in the Accounting, Finance and IT fields. Given that the beginning of the New Year is a popular time for job seeking, starting your search NOW is highly recommended. By giving yourself a month’s head start, you’ll gain a considerable competitive advantage over candidates who have postponed their job searches until after the holidays.

In addition to decreased competition, there are several other advantages to an active job search during the holiday season. First, organizations never stop looking for employees. In fact, the demand for workers might even increase during the end of the year if a company is in a crunch to complete all objectives. Second, employers – like candidates – have objectives for the New Year, such as finalizing financial budgets and training new employees. As such, they may be looking to begin their candidate searches early to avoid later chaos. Third, consider the idea that applying during the holidays is impressive to the employer; remaining active during the lull of the holidays exhibits your dedication to obtaining the position.

Given the strategic advantages of embarking on a job search now, you have hopefully reevaluated your plan to delay the process. Accordingly, you can modify your New Year’s resolution from “Begin searching for jobs” to “Secure an interview for a desired position.” You’ll thank yourself in the long run.

Sources:

Balderrama, Anthony. “Get Hired During the Holidays.”

Burns, Kerry. “10 Reasons to Step Up Your Job Search Over the Holidays.”

Hering, Beth Braccio. “Should I stop my job search during the holidays?”

The Advantages of Temp-to-Hire Positions

2011-11-29T06:52:00.000-08:00

Temp-to-hire employment has become a popular and effective method of filling positions in the fields of Accounting, Finance and IT. Under temp-to-hire contracts, individuals are given one-to-three month assignments with the potential for permanent work at the end of the term. According to the Bureau of Labor Statistics, the percentage of temporary employees is rapidly increasing, having reached 2.3 million as of October 2011 (as shown below). As economic uncertainty prevails, the temp-to-hire method is attractive to employers because it ensures proper candidate selection and is also a quick way to provide assistance during busy times.

The temp-to-hire arrangement is an efficient mechanism for recruiting candidates who will succeed in the positions for which they are hired. Hiring an individual to work as a temporary employee prior to offering a full-time position keeps management with a window of opportunity to thoroughly evaluate the employee. Unlike the hiring process for permanent positions, temp-to-hire candidate selection transcends the limitations of the resume and interview with the addition of a third, crucial dimension: actual job performance. Through temporary employment, the employer may thoroughly assess whether the Accounting, Finance or IT professional is suitable for permanent work. An unmotivated employee, for example, can critically impede organizational progress and, financially, many firms cannot afford to take such a risk. Therefore, the temp-to-hire model diminishes the costly possibility of hiring the wrong candidate.

Temp-to-hire is also an excellent way for employers to acquire supplementary assistance during busy periods or in times when employees are on leave for personal reasons. By hiring temporary employees with the promise of possible permanent employment, a company experiencing a shortage of staff during periods of intense pressure can ease the burden on its current employees.

Given these significant advantages of temp-to-hire staffing, employers should consider this arrangement in filling Accounting, Finance or IT positions within their organizations. For information regarding temp-to-hire services provided by Abacus Group, please fill out the form available here.

Sources

Bureau of Labor. “Current Employment Statistics Highlights October 2011”

Career Builder. "Try Before You Buy"

Grady, Joanne. “Temp-to-Perm: Best Hiring May Be Least Expected”

Rich, Motoko. “Weighing Costs, Companies Favor Temporary Help”

Accounting & Finance Certifications Decoded: What Are They and What Can They Offer?

2011-11-15T12:18:00.001-08:00

The pursuit of advanced education is highly recommended for professionals in today’s sluggish economy and competitive job market. There are numerous certifications within the fields of Accounting and Finance that can boost the marketability of job seekers Individuals working in Accounting and Finance can choose from an array of prestigious certifications that can ultimately supplement their personal marketability as job candidates. In fact, certain licenses are a prerequisite for some Accounting and Finance positions. According to FINS, the salaries of employees who hold financial certifications are up to 10% higher than those who lack such credentials. Outlined below are some of the most popular accounting and finance certifications and their corresponding requirements and viable career opportunities. If you are considering the pursuit of such a license, the following chart may provide a useful starting point for your decision.

PROFESSIONAL CERTIFICATION	ACRONYM	REQUIREMENTS	CAREERS	SPONSORING ORGANIZATION

Accredited in Business Valuation	ABV	CPA; exam completion; commitment to 60 hours of CPE every three years;	M&A management; valuation consultancy; shareholder disputes; divorce settlement management	American Institute of Certified Public Accountants

Chartered Asset Manager	CAM	Three years experience in asset management; degree approved by the AAFM; commitment to 15 hours of CPE annually	Investment management; financial planning; asset management; personal finance consultancy	American Academy of Financial Management

Certified Bank Auditor	CBA	Two years of bank auditing experience; completion of four-part exam; commitment to 30 hours CPE annually	Bank audit, consultancy; mortgage banking; compliance	Bank Administration Institute

Certified Credit Executive	CCE	10 years in business credit/financial management or appropriate equivalent; commitment to organization participation and CPE	Domestic and international credit management; credit analysis; security analysis	National Association of Credit Managers

Chartered Financial Analyst	CFA	Completion of a rigorous three-part exam; four years of work experience in banking or finance	Wealth management; investment banking; consultancy; stock analysis; computer forensic analysis	CFA Institute

Certified in Financial Forensics	CFF	Five years of accounting experience; 75 hours forensic accounting CPE; CPA; exam completion	Fraud detection/prevention; valuation; litigation support; bankruptcy reorganization	American Institute of Certified Public Accountants

Certified Fraud Examiner	CFE	Two years work experience in fraud detection or deterrence; exam completion	Financial analysis; fraud investigation; compliance; internal audit; risk management; private investigation	Association of Certified Fraud Examiners

Certified Financial Planner	CFP	Completion of a 10-hour exam; three years of financial planning experience; commitment to 30 hours of CPE biannually	Personal financial advisory for long-term saving, asset protection, insurance, tax or general investment	College for Financial Planning and Certified Financial Planner Board of Standards, Inc.

Certified Government Financial Manager	CGFM	24 college credits in various designated areas; two years experience in government financial management; exam completion; commitment to 80 hours CPE biannually	Financial planning; cash flow management	Association of Government Accountants

Certified Internal Auditor	CIA	Four-part exam completion; minimum two years internal audit experience	Risk management; compliance management; systems audit; audit consultancy	The Institute of Internal Auditors

Certified Information Systems Auditor	CISA	Exam completion; minimum five years of experience in auditing, controlling or securing information systems	IT governance; information systems audit; disaster recovery; IT service support; infrastructure lifecycle management	Information Systems Audit and Control Association

Certified Management Accountant	CMA	Two years of work experience in management accounting or financial management; completion of two-part exam	Financial planning; financial fraud investigation; compliance; asset management	Institute of Management Accountants

Certified Public Accountant	CPA	For NY state: BS degree; two years of accounting experience or other suitable equivalent; completion of a four-part exam	Audit, budget analysis, taxation; SEC reporting; controlling; forensic accounting	American Institute of Certified Public Accountants

Certified Treasury Professional	CTP	Two years of accounting, finance or treasury experience; exam completion	Treasury management; risk management; M&A management; cash management	Association of Financial Professionals

Certified Valuation Analyst	CVA	CPA; case-study completion; completion of a two-part, single-day exam	business valuation; litigation support; fraud consultancy; M&A consultancy; estate taxation	National Association of Certified Valuation Analysts

Financial Risk Manager	FRM	Completion of a two-part exam; two years relevant work experience; commitment to CPE	Portfolio management; consultancy; derivatives verification; financial analysis; treasury analysis; credit risk management	Global Association of Risk Professionals

Personal Finance Specialist	PFS	CPA; 80 hours of personal financial planning (or other equivalent) education; two years business or teaching work experience; exam completion	Personal finance management; tax, estate or requirement planning	American Institute of Certified Public Accountants

Professional Risk Manager	PRM	Completion of a four-part exam that can be taken in one sitting; two years relevant work experience in financial risk management	Enterprise risk management; operational risk analysis; credit analysis; risk advisory consultancy; qualitative analysis	Professional Risk Managers' International Association

Of course, achieving a specialized Accounting or Finance certification does not guarantee employment, a promotion or higher salary. Obtaining one or more advanced certifications does, however, significantly increase the odds of these accomplishments. Dedication to achieving a certification of one’s choice, therefore, may prove extremely beneficial to one’s career while also enriching one’s education in a specific area of Accounting or Finance.

SOURCES

Alphabet Soup of Financial Certifications

http://www.investopedia.com/articles/01/101001.asp#axzz1d3wC2Ryy

Stacking Skills: Getting Finance Certifications

http://www.fins.com/Finance/Articles/SB124699670820907349/Stacking-Skills-Getting-Finance-Certifications

A Rush to Burnish Credentials
http://www.fins.com/Finance/Articles/SB126928217776266001/A-Rush-to-Burnish-Credential

Financial Designations Aren't All Created Equal

http://www.investopedia.com/articles/financialcareers/07/different_designations.asp#axzz1d3wC2Ryy

Finance Certifications: Pick the One That's Right for You

http://www.associatedcontent.com/article/5485794/finance_certifications_pick_the_one.html

The Top Three Financial Advisor Certifications and How to Get Them

http://www.fins.com/Finance/Articles/SB128439150255837089/The-Top-Three-Financial-Advisor-Certifications-and-How-to-Get-Them

Abacus Group Announces the Launch of its Information Technology Staffing Division

2011-11-11T06:38:00.001-08:00

New York, November 2011 – Abacus Group is pleased to announce the launch of its Information Technology Staffing division. Based out of the firm’s New York City office, this division will supply companies across a vast array of industries with experienced technology professionals who have a variety of specializations. Under the leadership of Larry Jasinover, the Information Technology Staffing division will focus on placing technology professionals in contract and full-time positions located both domestically and internationally.

“With IT hiring expected to increase upwards of 20% in 2012, Abacus Group will provide value-added services to clients with the addition of its highly effective Information Technology Staffing practice,“ says Larry Jasinover.

The Information Technology Staffing division handles technology searches across a variety of areas including, but not limited to:

Application Development	Project Management	Product Management
Information Security	Infrastructure Management	Database Management
Digital	Desktop Support	Business Analysis
Enterprise Architecture	Web Site Development	Database Development

Abacus Group is an executive recruitment and temporary staffing firm servicing the New York Metro area since 1997. Abacus Group has an outstanding reputation for providing clients and candidates with top-tier staffing and recruiting services within the areas of Accounting & Finance, Accounting Support, Financial Services, Information Technology and Administrative Support.

Media Contact: Greg Saukulak, gsaukulak@abacusnyc.com

Solutions for Candidate Selection: A Lesson for Employers

2011-11-08T07:35:00.001-08:00

To date, the Abacus Group blog has primarily focused on providing advice for job seekers in Accounting and Finance. As an executive recruiting firm, however, the Abacus Group is also tasked with facilitating the hiring process for employers. Making the right hiring decisions is critical for employers, especially with respect to senior-level positions. Of course, in practice, it is impossible to guarantee that the right decision is made 100% of the time, but following some simple guidelines can help increase this probability. The Abacus Group has compiled a list of mistakes made by employers during the applicant selection process and corresponding corrective actions.

Mistake: During the interview, the employer bombards the interviewee with questions, thereby preventing the interviewee from properly evaluating the organization and job opportunity.
Resolution: Treat the interview as a two-way street; recognize that the candidate, too, is trying to assess whether there is an appropriate match.

Mistake: Job duties may seem monotonous or unappealing, so the employer understates the significance of such tasks, while emphasizing more interesting duties.
Resolution: Be honest about responsibilities and expectations. Let the applicant know exactly what she or she will need to do in order to be successful in the role.

Mistake: The employer assesses candidates based on standards set by an employee who previously held the open position.
Resolution: Acknowledge the fact that, in cases of replacement, the new employee will never perfectly mirror his or her predecessor. “Expecting a new worker to fit in and automatically replace a long term player is an unrealistic burden on manager and employee alike,” warns John Sumser of Glassdoor.

Mistake: Interview performance and past experience are the only criteria used to evaluate the candidate’s potential to succeed in the role.
Resolution: A candidate’s personality and cultural fit within the organization must also be considered. “Cultural fit” refers to the synergy between the candidate and the organization, including understanding of and agreement with the organization’s mission, comfort in the physical work environment and adaptability of the candidate’s managerial style.

Mistake: The employer rushes the process by hiring the first candidate who seems to be a fit for position.
Resolution: Exercising patience is of utmost importance. While there may be a sense of urgency in filling a position, the employer should be aware that hiring the wrong individual could be more costly than waiting a bit longer to make the right decision.

Sources:

Fraser, Bruce W. “How to Hire and Develop Staff.”

Kloete, Rick “7 Hiring Mistakes That Make Your Competition Smile”

Sumser, John “Common Hiring Mistakes”

Wallick, S.H. “First Person: How to Avoid Hiring the Wrong Employee”

Welch, Jack and Suzy Welch “Hiring Wrong – And Right”

Wheeler, Kevin “Company Culture: How to Assess if Candidates Will Fit Your Organization”

From Private Industry to Public Accounting: A Great Benefit for Professionals

2011-10-31T06:35:00.000-07:00

Obtaining a position within a Public Accounting firm – especially one of the Big Four – is one of the most beneficial career decisions a young accounting professional can make. Recruiters strongly recommend transitioning from Private industry to Public Accounting as a means of broadening one’s experience in the field. And to employers, such a transition demonstrates a natural progression in one’s accounting career. In this job market especially, Accounting professionals with Public Accounting experience have the competitive advantage.

More and more, postings for Accounting positions at reputable companies in the Private sector include the following: “Previous Big 4 experience required.” The reason for this prerequisite is that employers recognize the valuable skills and unique experience that can only be gained at a major Public Accounting firm. For example, accountants who have worked in Big 4 have likely had exposure to diverse industries and clients, and therefore have a more well-rounded accounting experience. Also, those who have worked in Big 4 have typically dealt with some of the most prestigious companies, and have interacted with some of the most talented professionals at all levels. For these reasons, employers in the Private sector view those with Big 4 experience as high-caliber accountants who can be counted on to fulfill high expectations. To put it simply, accountants with Big 4 experience are often deemed superior to those without.

Aside from increasing one’s marketability, securing a position within a Big 4 firm offers many other benefits. Accountants working for these esteemed organizations have the privilege of receiving in-house training to further their knowledge in the field. These firms also provide support in obtaining professional licenses and certifications. In Private companies however, especially those of smaller size, professionals may have to pursue such advanced education independently. Big 4 firms also accommodate professionals who are looking to specialize within a particular area of accounting, allowing them to develop an expertise. And finally, given the high level of interaction with colleagues and clients, Big 4 firms provide a networking gateway for accounting professionals.

Given all of the above, accounting professionals looking for the next step in their careers should strongly consider positions within Big 4 or other reputable Public Accounting firms. Such experience is unique and highly rewarding, and arms professionals with an invaluable competitive advantage.

How Virtual Footprints Affect Employment

2011-10-21T07:03:00.000-07:00

Typically, an individual seeking a job prepares, as is recommended, in the following ways: developing a valuable skill set; networking with professionals in his or her field of interest; writing a succinct, yet captivating resume; researching the organization for an interview, if such an offer is extended. However, many applicants neglect to consider a fifth, equally significant component of the job search process: the creation and maintenance of a respectable online image. The use of virtual background checks to dilute an applicant pool is now more prevalent than ever as the Internet becomes increasingly saturated by social media and user-generated content sites. Given the current economic conditions, especially those in the finance industry, applicants cannot afford to be excluded from consideration because of irresponsible Internet activity. Even employees satisfied with secure positions should be wary of their online history, for they, too, could be subject to unexpected checks. Accounting and finance positions beyond entry-level usually require extensive time and training; therefore, professionals should not let their valuable investments go to waste by leaving questionable virtual footprints.

To understand the severity of publicly posting harmful content to the Web, examine the following statistics about employers, recruiters and applicants, taken from a 2010 research study conducted by Microsoft:

Search engines are used for 78% of applicant background checks by recruiters.
70% of recruiters will use an applicant’s online activity as grounds for rejection.
But only 15% job applicants believe their online reputation will hurt their chances of employment.
63% of recruiters examine applicants’ social media activity.
Offensive remarks about an applicant’s past employers, colleagues or friends, communicated via social media, are taken into consideration by 40% of employers.
The use of improper grammar online struck 25% of employers as an indication of poor communication skills.

These figures have a number of implications for prospective employees. The first recommendation for cleaning up an online image is to Google your name to become aware of exactly what recruiters and potential employers are capable of finding. This initial step is the best way to determine exactly what information – either self-generated or written by a third party – exists about you on the Internet. From here, one can take appropriate action to remedy the content of the search results. Most likely, social media accounts are going to appear in a Google search. Keeping the research in mind, diligently modify your Facebook, Twitter, Google+ and other social accounts to reflect the concerns of employers and recruiters. Delete inappropriate pictures and offensive comments if found, and adjust privacy settings as needed. Finally, consider setting up Google Alerts to receive a notification each time your name appears in a Web post; this tactic will allow you to efficiently all relevant content in a timely fashion.

Maintaining a reputable status on the Internet entails more than removing negative content, however. In addition to deleting questionable photographs or videos, rude comments or other evidence of immature online behavior, applicants need to foster valuable personal material. Regularly updating a LinkedIn account, for instance, is an appropriate way to ensure that positive and professional data about is available to employers and recruiters. Abacus Group executive recruiter Jason Fleischer, quoted in a 2009 Forbes article, advises that those who are unemployed express, via LinkedIn, their desire for new job opportunities. Additionally, professionals may consider creating a personal blog or webpage that containing information about their career and interests. Such a website can effectively function as a “virtual business card,” according to a recent Bloomberg Businessweek interview featuring Todd William, founder of an online reputation management company. For only $10, an individual can register a domain of her choice, ideally his or her first and last name, to ensure the existence of favorable content about oneself on the Internet. In addition to serving as a virtual advertisement for a candidate, a meaningful personal website will divert attention from irremovable damaging material.

Overall, the research data urges all job seekers – as well as current employees – to sustain the practice of responsible Internet behavior. Building an admirable online reputation is not a one-time effort; rather, it must be maintained regularly though careful consideration and the promotion of beneficial content.

Sources:

Berlin, Amanda. "How to Protect Your Online Reputation."

Sullivan, Bob. "When it comes to online reputation, 'life's not fair and companies aren't either.'"

Di Meglio, Francesca. "Managing Your Online Reputation."

Travis, Kate. "Employers Considering Applicants' Online Reputation."

Tynan, Dan. "Seven ways to rescue your online reputation."

Don’t Get Discarded: Six Techniques for a More Attractive Resume

2011-10-18T12:14:00.000-07:00

As discussed in our 10/7/11 post, a resume serves as a candidate’s chief form of personal advertisement to recruiters and potential employers. A compilation of one’s past experience, achievements and qualifications, the resume provides a tangible and quantifiable indication of how one will perform in a given position. Due to the high volume of resumes received for an opening, it is unlikely that an employer or recruiter has the time or need to review your resume completely. Resumes are typically scanned for key information, such as education, number of years spent within the industry, professional certification (i.e., CPA, MBA, FRM) and technical skills. Other valuable components are unfortunately often widely ignored. For this reason, creating a concise, intriguing resume is imperative in your search for an accounting or finance position. Although an effective resume alone cannot guarantee a job, it will absolutely increase your chances of obtaining an interview and, hopefully, acquiring the position of your choice. Below are six improvements which, if implemented diligently, can help to prevent your resume from being overlooked by employers and recruiters:

1. Eliminate unnecessary material.
Since initial resume examination may last just a few seconds, certain information should be removed to draw attention to more important details. Most professionals agree that including an objective or similar statement is superfluous. For instance, a candidate who states, “I am seeking a challenging senior-level accounting role in which I can grow expand my knowledge of the industry” does not provide the reader with any new information if the resume has been submitted for an Accounting Manager position. Irrelevant past work experience also unnecessarily crowds a resume; a waitress or cashier position you held ten years ago will not help you obtain the systems audit role you seek today.

2. Invite the reader with a meaningful headline.
Unlike an objective, a headline is short, substantial summary that tells the employer or recruiter who you are, rather than what you are looking for. Positioned below the applicant’s name and contact information, the headline should be used to captivate the reader and offer an incentive to review the supporting credentials in the body of the resume. Consider the following effective example: “Bilingual CFA with 10 Years of International Manufacturing Experience.” Such a headline adequately communicates several positive, specific attributes about the candidate in just a few words. Do not embellish the headline with flowery, empty words, like “experienced,” “motivated,” “dynamic” or “detail-oriented.” These are given qualities of any viable candidate and their mention on a resume is hardly impactful in differentiating the applicant from others.

3. Customize to create a theme.
No two resume submissions should be exactly alike; one must customize accordingly for each individual job application. Apply this concept, in particular, to the descriptions of past work experience and corresponding accomplishments in order to present a unified theme relevant to the open position. Fully examine and understand the job responsibilities and requirements to determine the strengths sought by the employer. Does the role primarily entail the creation or analysis of financial models? If so, the body of your resume should highlight personal achievements within this realm with supporting quantifiable figures. Is this employer looking for someone with strong leadership capability? Tell the reader what improvements previous teams have made under your supervision.

4. Include technical terms.
Be sure to use applicable industry or position terms in your resume as appropriate. Doing so will not only reveal your competency in the field, but increase your chances of further review. Frequently, employers, recruiters or electronic tools search for words that are required for the position to more efficiently reduce the number of applicants. If you’re proficient in Hyperion and familiarity with the program is a requirement for the position, include the name of the software in the document, preferably within a list of other technical capabilities. Similarly, if the job position involves participation in mergers and acquisitions and you have experience in doing so, you should certainly incorporate that skill wherever possible.

5. Quantify your accomplishments.
You can enhance your credibility as a successful employee in past jobs by including financial or other numerical figures in the body of your resume. Examples include statements such as “Cut the organization’s expenses by $10,000 per quarter” and “Managed and tracked the division’s $5M budget.” Such measureable results clearly define an active, rather than passive, role in previous positions and are especially relevant in the fields of accounting and finance. Also, note that you don’t necessarily have to have led a given accomplishment in order to include it on your resume. Even if you lack significant managerial experience or have held entry-level positions, you can certainly cite your contributions to past teams’ successes without taking full credit.

6. Have someone else review before submission.
While this final suggestion might sound obvious, the detrimental effect of a sloppy document with misspellings or grammatical errors cannot be stressed enough. Typos and formatting incongruence convey a sense of carelessness and incompetence – two traits that employers and recruiters are definitely not looking for in today’s competitive job market. Utilize resume-creation software to ensure an aesthetically pleasing and modern look. Stay away from distracting typefaces and use bullet points to simplify organization. When you’re satisfied with the finished product, have another set of eyes check for possible mistakes and offer feedback.

Sources:

Ayres, Leslie. “10 Lies You’ve Been Told About Your Resume.”

Dizik, Alina. “Foot in the Door: The Perfect Accounting Resume.”

Green, Alison. “Objectives: Leave Them Off Your Resume.”

Smith-Proulx, Laura. "Struggling to Quantify Achievements on Your Resume?”

The Road to Career Recovery

2011-10-14T06:57:00.000-07:00

It’s common knowledge that the current economic conditions have been less than friendly to many Americans, including finance professionals. Job stability in the financial sector has experienced incredible disruption in recent months, leaving many scrambling for comparable new work. With over 54,000 layoffs so far in 2011, the financial industry ranks second to government in total job cuts, according to CFI Financial. In addition, Bank of America alone plans to let 30,000 employees go in the next five years, while some other 10,000 investment bankers and brokers may be out of work by the end of 2012, says Reuters.

These figures inevitably elicit some important questions: What are the best courses of action for a recently laid-off finance professional in terms of pursuing a new career? How can he or she expect to recover after becoming comfortable in familiar work environment and attaining reasonable success after say, eight or ten years with a firm?

The following article by Susan Adams of Forbes, written last month, explores some of the methods by which professionals may gracefully handle and recover from the shock of job loss. Without undermining the often difficult consequences of a layoff – whether financial, social, psychological, etc. – Adams takes a realistic look at how a recently laid off individual can reduce the burden and effectively commence recovery.

http://www.forbes.com/sites/susanadams/2011/09/09/what-to-do-as-soon-as-you-get-laid-off/

Boosting Your Marketability: How Will You Stand Out to Recruiters and Employers?

2011-10-07T12:00:00.000-07:00

Differentiating yourself from other candidates in the search for an accounting or finance position can be incredibly challenging. Most likely, you’re competing with professionals who have strong credentials exactly like yours: a relevant bachelor’s degree and/or MBA from a well-known university; previous experience in a top accounting or financial firm; CPA or CFA; proficiency in various financial software programs. It’s also probable that you, like your rivals, are quite articulate, have held past positions within the industry and are very passionate about your field. If your qualifications are nearly the same as everyone else’s, though, how can you possibly have any control over whether or not you are hired?

It may be useful to think of your job search as running a business in which you’re selling a product. Your individual skill set is the product being sold, your resume serves as an advertisement and your future employers are your target customers. In order to sell your product or – in the case of a job search – get hired for the position of your choice, you need to differentiate it by developing and exploiting a competitive advantage. Keeping this analogy in mind, consider the following strategies for elevating yourself above your competition in the areas of your experience, resume and interview:

Skills: Garner Unique Educational Experience
Selling a product or service requires regular development and innovation. Likewise, to remain a marketable candidate in the job market, one should undergo continuous education to keep up with the competition. Earning CLE credits isn’t the only way to continue your education beyond an MBA or CPA. There are a number of other finance and accounting-related educational tools that you can take advantage of to stand out to employers. Joining a professional association, for instance, is an easy way to learn more about your field of interest with the added benefit of networking exposure. Attaining a leadership position in such an organization serves as a unique achievement for one’s resume. Enrolling in a technical class is another way to stand out. If your time and budget allow, consider learning new software to give yourself a competitive edge.

Resume: Emphasize Relevant Past Accomplishments
The focus of your resume should extend beyond your responsibilities at past positions; it should highlight what you’ve excelled in or initiatives that you improved in your job functions. A resume is your primary form of advertising, so it should stress what you can do for your prospective customer, the employer. A great technique for showcasing achievements is to quantify results from a past job. Stating, for example, that you “exceeded sales objectives by 10% while managing a team of eight employees” provides a measurable indication of your success and easily catches the eye of the reader. In addition to calling attention to your strongest attributes, make sure that your resume material is tailored to the job position. If you include an objective or summary of skills at the top of your resume, customize it to meet the needs of the firm for which you’re applying.

Interview: Conduct Research to Prepare Questions
Through diligent preparation, you can convey to the hiring manager that working in and contributing to his or her organization is your foremost priority. Research the firm as much as possible before your interview in order to familiarize yourself with the company’s objectives and its products or services. In addition, be aware of any recent news, issues or trends that are specific to either the organization itself or the industry. Such preparation will be useful not only in answering the interviewer’s questions, but also for asking a handful of your own. Asking questions about both the position for which you’re applying and the organization as a whole will help to reinforce your credibility and emphasize your sincere interest. Interviews must be treated as a dialogue in which both you and the interviewer are asking each other questions. In addition to showcasing your knowledge of the firm through asking intelligent questions, a two-way question and answer conversation will help you better assess how well you will fit within the organization.