Career Planning

Jim Rohn, American entrepreneur, author and motivational speaker, once said: “If you don’t design your own life plan, chances are you’ll fall into someone else’s plan.”

Og Mandino, U.S. businessman and motivational author and lecturer said: “The victory of success is half won when one gains the habit of setting goals and achieving them. Even the most tedious chore will become endurable as you parade through each day convinced that every task, no matter how menial or boring, brings you closer to fulfilling your dreams.”

And Stephen Covey, internationally respected leadership authority and author of The 7 Habits of Highly Effective People and The 8th Habit: From Effectiveness to Greatness, said: “The key is not to prioritize what’s on your schedule, but to schedule your priorities.”

These three quotes from respected leaders may give you some inspiration regarding the importance of planning and goal setting. If you’re new to goal setting, you can read an article on my blog that I wrote last January: https://www.harveycareers.com/blog/how-to-ensure-you-achieve-your-new-years-resolutions-2010-goals/.

For career planning you may want to create one-, two-, five-, and ten-year goals. BlueSteps a service of the Association of Executive Search Consultants (the association for retained executive search firms) suggests that you, “set goals for yourself at each organization you join and for each position you assume, with interim objectives to provide markers to measure your progress or signal the need for change.”

Ultimately, you may want to plan your career through till your retirement. Ask yourself, “What do I want to have achieved by the time I retire?” Then, back your way into your goals. Consider where you are now and what you have to do and/or learn to reach your ultimate career goal.

While the economic environment may be causing you to accept whatever job you can get, I would caution you to consider your career goals. While you may need to take a bridge position—one that will hold you over until you can get back on track, make sure you continue to search for the opportunity that aligns with your goals. You don’t want to get stuck in a dead-end position that detracts you from your long-term goal. If you must take a bridge job, consider taking one that will help you develop a skill set or knowledge base that will strengthen your candidacy for your next step in your career.

Given that interviewers frequently ask about your career goals, having a well-thought-out response will position you as a visionary executive capable of leading an organization.

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How Many Versions of Your Resume Do You Need?

In today’s economy where hiring decision makers are extremely risk adverse and will only consider executives who are a “perfect fit” for the organization, it is important to target your resume.

However, many executives reason that they don’t want to miss out on any opportunities and therefore create one resume that showcases all of their functional areas of expertise as well as all of their knowledge, skills and abilities. When hiring decision makers read this type of resume, the message they receive is that of confusion. Most likely they will not take time to figure out what the candidate can do for their company because it’s buried in irrelevant information (as far as they’re concerned). Hiring decision makers may get the impression that the candidate is a jack of all trades and master of none. They may get the sense that the candidate won’t be able to focus on the functional role they’re filling. Or in today’s economy, they may assume that the candidate is desperate and will settle for anything, at any salary they offer, no matter how low.

How To Determine If You Need Multiple Versions

Since every hiring decision maker is looking for the “perfect fit,” you may need to create multiple versions of your resume when you are considering:

Multiple Roles: A few functional roles can be blended on the same resume. To determine which roles can be blended, use the job boards as a research tool. Search your favorite job board for positions with the functional roles in which you have an interest. Notice how many, and what types of companies or industries, blend the roles in which you are interested. If there is no blending what so ever, then you must create separate versions of your resume.

For example, some companies blend the following roles:

COO/CFO; CIO/CTO; Sales/Marketing; Sales/Business Development; and CMO/CBO. The larger the company, the more apt these roles are to broken out separately, however, in the small- and mid-size companies, you may find these roles blended. Many companies integrate the COO role into the CEO or CFO role. Likewise many companies combine all of their technology roles under a CFO, COO, CEO or engineering officer.

Similarly, only the larger companies have a CMO (Chief Marketing Officer) or CBO (Chief Brand Officer) role. Many small- and mid-size companies integrate these roles under their marketing executive. So you will need to have more than one version of your resume if you intend to consider companies of all sizes.

Multiple Levels: If you are seeking a senior management position or a middle management position you will need to create two resumes.

For example, if you will be pursuing a CFO role or a Director of Finance role, you will need two versions. The reason being, if you write a resume strong enough to land the CFO role, you will over qualify yourself for the director-level role. Conversely, if you write a resume for a director-level role, you will under qualify yourself for the CFO role.

Multiple Industries: Most hiring decision makers are looking for people with industry experience. If you are targeting a specific industry, create a resume that highlights your experience in the industry. If you do not have experience in the industry, create a version that does not mention industry. While candidates recognize that their role is transportable across multiple industries, the truth of the matter is that hiring decision makers almost always require industry experience.

Multiple Company Sizes: Most hiring decision makers are looking for executives who have led a company of similar size and standing. If you are considering companies of all sizes, create different versions of your resume. For example, if you have been leading a multi-billion dollar company, you may want to consider converting any accomplishments stated in dollars to percentages so that you don’t over qualify yourself. Additionally, if you are pursing a position in a company that is larger than any you have worked in, you may want to convert dollars to percentages to seemingly even the playing field.

Other Considerations: Organizational structure, geographical orientation, business or value drivers, growth style and rate, product/service types, and customer types. You may need to create multiple versions based on these considerations as well.

While creating multiple versions takes considerable more effort, it IS worth it. When posting your resume to job boards, you will need to pick one version. However, that shouldn’t’t be much of a concern since a miniscule number of executives land a position via job boards. If you decide to post your resume on a job board, post the version focused on the position for which you are the most qualified.

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Understanding the Hidden Job Market

Often referred to as the “hidden job market” this segment of unadvertised positions has been recently increasing. A few of the reasons why jobs may not be posted and thus, classified as “hidden” include:

  • Staff reductions have left many Human Resource departments operating with a bare minimum staff. The HR department simply does not have the resources to respond to the hundreds or thousands of resumes they receive for advertised positions. Therefore, they do not post the open positions.
  • In an effort to cut costs, many companies who regularly contracted with an executive search firm have decided to eliminate this expense. Some companies are conducting a referral-style recruitment process and some have created a small internal group to manage recruitment of senior level executives.
  • The board of directors or venture capital owners may want to replace a non-performing senior executive, however they do not want to upset the current executive and cause him to leave before they have identified a new candidate to replace the existing executive.
  • The current executive may have submitted his resignation but agreed to stay until a replacement is secured. The company may not advertise the position because it may gravely impact the subordinates performance and an important initiative the executive is leading.
  • While there are many frozen positions, there are many that are simply sitting vacant and the company is not in a rush to fill the positions unless the “perfect” candidate appears on their radar screen.
  • A company decision maker may be formulating a new position, but has not yet developed the job description, skill requirements or received budget clearance for the new position.

In reviewing the Department of Labor, Bureau of Labor Statistics reports, the majority of all jobs are hidden or unadvertised. The actual percentage changes month to month but has been interpreted by some experts to be as high as 80 percent. This would indicate that only 20 percent of jobs are posted.

Given these percentages, pursuing the hidden job market makes sense. This unadvertised segment will require a targeted search, extensive networking, and a crystal clear value proposition. One of my clients who followed this plan of attack identified several target companies and began a focused networking process. The result: he landed a position in the function, geography and salary range of his choice.

Another client identified one target company, began an internal networking process, met with several senior executives, and was offered a newly created position at a favorable salary.

As such, pursuing the unadvertised market makes sense.

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20 Dress Faux Pas That Can Jeopardize Your Interview Success & Undermine Your Credibility

Job search is marketing…and marketing includes packaging and presentation. You want your appearance and presentation to exude a polished, confident professional.

When you’re interviewing, obviously, you want the interviewer to concentrate on your expertise, qualifications, and value you can bring to the organization. However if your appearance is flamboyant, outdated, or disheveled, the interview will find it distracting, and you may be remembered for the wrong reasons.

Following are 20 faux pas that WILL derail your ability to make a professional first impression and undermine your credibility.

Suit:

•   Faux Pas: Wearing a suit with bold colors, large prints, stripes, plaids or funky patterns
•   Appropriate: wear a suit in a dark, solid color such as navy or charcoal/gray
•   Faux Pas: Wearing a suit jacket with pants that don’t match
•   Appropriate: Wear a 2-piece matched suit
•   Faux Pas: Wearing a suit made of an exotic fabric such as suede, leather or velvet
•   Appropriate: Wear a suit made of wool, a wool blend, or a very high quality blend with natural fiber
•    Faux Pas: Wearing a suit that is too large, too small, or too long
•    Appropriate: Invest in a properly fitting suit. Suit jackets should fit so that they can be easily buttoned without any significant pull marks across the fabric. The sleeve should be long enough so that about a ¼ inch of your dress shirt can be seen beyond the cuffs when your arms are relaxed by your side
•    Faux Pas: Wearing rolled up sleeves
•    Appropriate: While rolled up sleeves may be in style, err on the side on conservatism and do not roll up your sleeves
•   Faux Pas: Wearing a suit with the tacking stitches still in place
•    Appropriate: Suits typically have tacking stitches to hold vents (on the jacket back and sleeves) in place before the garment is purchased. Cut them off if your retailer/tailor doesn’t.

Socks:

•    Faux Pas: Wearing no socks, short socks, or socks with large prints, patterns or bright colors.
•    Appropriate: Wear socks mid-calf length so no skin is visible when you sit down. Wear dark colored socks that match your suit.

Footwear:

•    Faux Pas: Wearing loafers, dress boots, athletic shoes, boat shoes, crocs, or open-toed shoes such as sandals or flip flops
•    Appropriate: Wear black leather shoes with laces—shinier materials usually indicate a dressier shoe
•    Faux Pas: Wearing shoes or boots with a 2-inch or higher heel
Appropriate: Wear oxford leather shoes with a traditional heel height

Shirt:

•   Faux Pas: Wearing a short-sleeve shirt, collarless shirt, ill-fitting shirt, or wrinkled shirt
•   Appropriate: Wear a well-pressed, long-sleeve, button-down-the-front shirt with a crisp collar. Wear a shirt that fits your neck size perfectly (the top button must be buttoned with no straining — the neckline should not be so large that your tie drags your shirt down)
•    Faux Pas: Wearing bold, flashy colors or prints
•    Appropriate: Choose a solid colored shirt or one with conservative stripes

Tie:

•   Faux Pas: Wearing an outdated tie (too wide, too narrow), a flashy tie, a tie with religious, political or sports symbols, or cartoon characters
•    Appropriate: Wear a 100% silk tie with neat repeating patterns (foulards) or a traditionally striped tie. Err on the side of conservatism
•    Faux Pas: A tie knot that doesn’t fit the neck opening
•    Appropriate: Choose a four-in-hand knot or a Windsor knot (no bow ties)

Jewelry:

•    Faux Pas: Wearing excessive amounts of jewelry or body jewelry (ear, eyebrow, nose rings)
•    Appropriate: Wear a conservative watch and limit jewelry to one ring per hand
•   Faux Pas: Wearing flashy cufflinks
•    Appropriate: Wear a barrel cuff shirt (a shirt with one button at the bottom of the sleeve). Do not wear cuff links

Belts:

•    Faux Pas: Wearing a large belt with a buckle signifying which team, sport or race car driver you favor
•   Appropriate: Choose a leather suit belt that matches your shoe color

Suspenders / Braces:

•  Faux Pas: Wearing suspenders
•    Appropriate: You may wear braces, but not suspenders. (Braces button into your suit slacks, while suspenders clip onto the outside.)

Briefcase / Portfolio / Pen:

•    Faux Pas: Carrying an old worn briefcase or portfolio that you’ve carried for several years or ever since you graduated from college
Using the pen provided by the hotel or the last trade show you attended
•    Appropriate: Carry a leather briefcase and portfolio and a quality pen with no advertising printed on the housing

Cell phone:

•   Faux Pas: Talking or texting on your way into the interview area — or worse yet, taking a call during the interview
•   Appropriate: Turn off your cell phone as soon as you step out of your vehicle or transportation

Hats / Sunglasses:

•    Faux Pas: Wearing a hat or sunglasses
•    Appropriate: Do not wear a hat and remove sunglasses immediately upon entering the building. (Do not push your sunglasses up on top of your head—remove them completely)

For Women

While many of the faux pas and appropriate recommendations above apply to women as well, there are a couple of additional points for women:

•   Suit: Wear a pant suit or a knee-length, skirt suit
•   Hosiery: When wearing a skirt suit, wear neutral or flesh-tone stockings (despite the no-hosiery trend)
•   Shoes: Wear a low-heel shoe versus flats or 4+-inch high heels
•   Necklines: Wear a blouse with a collar that buttons up rather high. Too low a neckline can give the interviewer the wrong impression
•   Hemlines: Wear a suit that reaches the middle of the knee or 1-2 inches below the knee. Too short a hemline can give the interviewer the wrong impression

These recommendations are for the traditional, conservative industries. If you’re pursuing a position in the creative or artistic field, you may need to adjust these recommendations to the field. However, always err on the conservative side of the industry unless you feel you simply could not be happy working in a somewhat conservative environment.
Remember, you want to be remembered for your ability to perform — not for what you were wearing.

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5 Tips for Developing Your List of References

References can be among your most valuable assets. Your references can and cinch a pending job opportunity or unknowingly be your worst enemy and nix the opportunity.

Providing references and recommendations to a potential employer can offer insight into how others have perceived working with you and may actually help to ‘tip the scales’ in your favor.

Here are five simple tips to develop your references:

Tip #1 – Ask for Permission
Request permission from anyone you plan to use as a reference and let your references know they may be contacted. Ask your references what contact information they would like you to include and if they have any preferences about how they would like to be contacted.

Tip #2 – Coach Your References
Provide each reference with a copy of your resume. However, don’t assume that your references know what you want them to say about you. Coach each reference regarding the types of positions you’re pursuing and what it is you would like them to speak to. For example, a specific project that the two of you worked on together, or a task force that you led, or a business objective you achieved.

Tip #3 – Request Written Recommendations
Ask your references for a recommendation in writing. Their recommendation should be brief but succinct in touting your strengths, talents and professional attributes. In fact, you may want to create one document which contains both references and recommendations to submit whether unsolicited or by request; usually during a second or third interview.

Tip #4 – Keep it Professional
As an executive, potential employers are seeking references from people who have worked with you directly such as executive-level associates, fellow committee members, partners, board members, mentors, investors, bankers, consultants, etc. However, you should also include references from subordinates. A well-rounded portfolio of references helps the recruiter gain greater insight into how you interact with all the members on your team.

Tip #5 – Send a Thank You Note
Once you land a position, send a thank you note to each of your references to let them know their feedback was an essential part of your success. Be sure to offer to provide a recommendation for them as well.

Your Reference List is one more tool you have to market and sell yourself. You can create a separate page for each reference and make it very formal or you can format it similarly to your resume and list three to four references on a page. Be sure to leave room for the reference checker to take notes.

Remember; do not underestimate the value of your references and the power they hold.

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Tough Interview Questions

As a senior executive, securing the position you want in today’s job market is going to take some extra preparation. Be ready to shine by showcasing your expertise to your potential employer by thoroughly preparing for interview questions. The following interview questions are intended to find the top candidate, so it’s important to consider your answers carefully ahead of time and be ready to explain them when necessary.

Let’s start with three common but tricky interview questions…

Why have you been unemployed so long? Clearly, this is not the right time to share your disappointment with the current state of the economy; that’s not what employers are interested in hearing. The key here is to answer honestly, while staying upbeat and positive. You might say, “I took this opportunity to re-evaluate the direction of my career path … and I have decided that this is the exact type of position I’m interested in … and this is the company I’d really like to be a part of.”

If you’ve interviewed with other companies, don’t be concerned about letting the recruiter know you have declined other opportunities offered to you in the interim that didn’t quite fit your criteria. Also let them know if you utilized this gap in your career to take a class, earn a certification, or volunteer your time to a worthy charity. Whatever your answer is, let them know in no uncertain terms that you are ready, willing and able to re-enter the corporate world.

Would you be willing to take a salary cut? Obviously, no one wants to take a salary cut, but the reality is that you may have to be prepared to take home less than you did previously. However, before you agree to any cut in salary, request additional information about the responsibilities of the position. Don’t forget to take into account the benefits package. Consider opting out of the perks you can live without in lieu of the salary cut. Regardless, don’t waste the recruiter’s time or your own. If you are not willing to accept a cut, make sure the recruiter knows that your salary requirements are firm.

You appear to be over-qualified for this position. What caused you to submit your resume for it? With the tough job market this is a common occurrence. If you’re truly interested emphasize your desire to establish an association with the company. You might say something like, “I assume that if I perform well in this position, new opportunities will become available that I may step into.” You might also say, “I’m here because I’ve researched your company and it’s innovative, cutting edge technology is appealing and something I want to be a part of.” Mention that since you are so well qualified, the company will realize a rapid return on investment and very little training will be required.

While you have no way of knowing exactly which questions you will be asked during your interview, preparing your responses ahead of time is extremely important. Think your answers through and then practice saying each until you are comfortable with it. Your well-thought-out response may make all the difference when it comes to obtaining the position you want.

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Writing Success Stories

Whether you call them CAR (challenge, action, result), STAR (situation, task, action, result), PAR (problem, action, result) or OAR (opportunity, action, result) stories, these stories are a critical component in your resume, leadership addendum, positioning statement and other marketing collateral, as well as in your interview.

When creating success stories, select ones that will demonstrate and showcase your executive brand. This is what will help you attract the right type of position. Actions always speak louder than words and are often times more effective because you’re helping the recruiter understand the value you bring to his/her organization.

  • Explain the situation, challenges, roadblocks and extenuating circumstances. For example, what made this initiative difficult? What impact would it have on the organization if it were fixed? The impact may be different than the actual results, so consider both outcomes and include both if appropriate.
  • Explain the actions you took to resolve the problem and who was involved in solving the problem. The amount of detail you include will vary depending on the venue. For example, in your resume, you will need to keep your actions to a minimum to meet traditional page length requirements. However, in your addendum and your interview, you can expand on your actions in greater detail.
  • Explain the results or outcomes. How did the results impact revenues, profits, marketshare, stakeholder or shareholder value? What did the results enable the company to do? What was the strategic importance–the long-term impact on the company?
  • Optionally, you may want to include the knowledge and expertise you had that enabled you to solve the problem. Or, you might want to include what knowledge or skills you had to quickly learn/develop to solve the problem.

Be sure your success stories include the who, what, when, where and how.

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Negotiating Your Severance Package

Most executives don’t want to think about it when they accept a new position, but with tenure averaging three to five years, it’s a near certainty that one day they will leave their new employer.

While companies are not required to offer any kind of severance package, most companies use severance packages or separation agreements as a release of claims against the company, its officers and directors in exchange for a certain sum of money. Some use it as a way to pacify departing management and keep them contented. In most instances involving senior-level management, a severance package is always offered and, always open to negotiation, providing there is no clause to the contrary in the employment contract.

Before you begin negotiating, you need to know the critical components of a severance package versus those that are optional.

Critical components:

  • Severance pay: This is usually determined by the length of time you have been employed by the company and your level in management. Generally companies offer one week’s pay for every year of service.
  • Bonuses and Commissions: The agreement should state how bonuses or commissions will be pro-rated and paid.
  • Health Insurance: The agreement should state how long you will be covered and who will pay the premiums on any and all insurances. Employer-provided coverage may end on the day of separation. However, COBRA allows you to continue your current coverage at group rates.
  • Life and Disability Insurance: Employer-provided coverage typically ends on the day of separation or soon after. You can negotiate a continuance option.
  • Retirement Benefits and Stock Options: The agreement should state exactly what your future benefits will be and should take into account the effect your separation will have on your stock portfolio. According to IRS rules, your plan administrator must provide a written explanation of your retirement options 30-90 days before the final date on which you must take action.
  • Stock Options: The agreement should state how the separation will impact vesting expectations as well as the remaining time to exercise vested shares.
  • Outplacement Services: These are services to help you prepare for and secure your next position. The services generally include writing your collateral materials (resume, cover letter, addendum, bios, etc.) and coaching you in all aspects of your job search. Many companies offer services with a particular outplacement firm and others ask you if you have a career coach you prefer to work with. Even if the company offers the services of an outplacement firm, you can negotiate for the selection of the your career coach. Recently, several clients have been able to negotiate such an arrangement and companies have been paying me directly for services. It’s a win-win situation.

Optional components:

  • Vacation time: Request payment for your unused vacation time.
  • Sick days/personal days: Request payment for unused sick/personal days.
  • Bonus/commission: Make sure all of your commissions/bonuses are accounted for (you should be prepared to accept a prorated bonus).
  • Agreements: Renegotiate terms of any preexisting non-compete or non-solicitation agreements.
  • Positive recommendation: Ask for a written understanding of what the company will say about your termination. Also, if not terminated for cause or poor performance, request a positive letter of recommendation from your former managers.
  • Company equipment: Clarify possession of cell phones, pagers, company cars, laptops, or other home office business equipment.
  • Perquisites: Clarify how perks such as cars, association and club memberships will be addressed.

The most optimal time to negotiate your severance agreement is BEFORE you accept the position because once you have accepted the position, your “powers of negotiation” are severely diminished. Whether you negotiate before or after the fact, make sure you prepare by:

  • Making a list of the perks you would like. Jot down the reasons why your employer should provide these perks to you. This is the time to showcase your value proposition and achievements to date.
  • Thoroughly reviewing the company’s policy on severance agreements as well as the terms of your employment contract.
  • Familiarizing yourself with applicable state and local laws.
  • Consulting with an attorney. While showing up at the negotiating table with a lawyer will set a hostile tone, have an attorney guide you through the legalese of the agreement and provide you with advice.
  • Planning your strategy to renegotiate or eliminate any preexisting non-compete or non-solicitation agreements.
  • If you are being downsized, investigating if you are the only executive or if there are others and if so, how many. Find out what they were offered by the company.

After you have completed your research, schedule an appointment to discuss your severance package. Take your research with you to the meeting because a researched response is more compelling than an anonymous statement. You must convince the company that their severance package is unreasonable in order to create an opening for negotiations.  Remember: this severance package has to sustain you and your family until you secure your next position – so it is imperative that you negotiate a great deal!

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Executive Branding Tip 10

Integrate your brand in to your career marketing materials.

Weave your clear and compelling brand into your value proposition, accomplishment statements, resume, online bios and profiles, letters, website, blog, web portfolio, career biographies, positioning statements, leadership philosophy, and any other self-marketing materials you have created.

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Executive Branding Tip 9

Create a strategy for developing brand equity.

As in traditional marketing, your executive brand should remain consistent throughout all of your marketing channels to build brand equity. The positive feelings your target audience accumulates about you is what makes your brand a valuable asset. Building a brand requires you to gain name recognition for your promise of value and convince your target audience that your brand will deliver value.

Equally important is measuring your brand. You should measure your brand’s awareness and associations through the many stages of recognition and top of mind recall. Similarly, the functional and emotional associations of your brand are important drivers of brand equity. Your brand should score high on both awareness and association attributes.

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