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Cleaning Out the Links Part 4

The first link was sent to me by a co-worker who used to work for Bridgewater Associates from Dealbreaker. "Be the hyena. Attack the Wildebeast" would certainly be a different motto than most companies as will most of the things you'll read in that article.

Next is The Economist which has a very interesting article about "The Difference Engine" and the wisdom of crowds. How can you apply this to your workplace and the co-workers who make up the crowd?

Then to Monster and Yahoo! for 10 job sectors which are in decline...and what to do if your industry is on the way out.

Lastly we go to Investopedia and Yahoo! for 7 jobs companies are desperate to fill...and how you can qualify for those jobs.

Cleaning Out the Links Part 2

Back to our winter cleaning for our HR links here at Astron's World of HR:

From Tuesday's Wall Street Journal, a very interesting article about recruiters changing their online job hunt tactics now that they are beginning to hire again: "Many plan to scale back their use of online job boards, which they say generate mostly unqualified leads, and hunt for candidates with a particular expertise on places like LinkedIn Corp.'s professional networking site before they post an opening. As the market gets more competitive again, they are hiring recruiters with expertise in headhunting and networking, rather than those with experience processing paperwork." This is some good advice that I'll discuss in a future post.

One of the biggest hiring organizations during the past year has been our Federal Government and FINS explained back in July why the Financial Reform Bill would add thousands more jobs (H/T Wendy).

From Woman's Day via Yahoo!, it's 10 things that they don't think the HR department will tell you...so make sure that some of it is very clear and plain to your employees so they do know what they need to know.

Next we have Forbes with the most outlandish resume mistakes ever. Yes, I think listing "God" as a reference was probably a bad idea for that candidate...

Lastly, we have our own Managing Director, Jennifer Loftus, quoted in an article from You at Work saying that offering perks "is a good way to pique employee interest." Good advice from the boss ;)

A New Year...But Old Issues Remain

As I looked through the New York Times yesterday I realized that while we had just turned the calendar on a New Year, we're still dealing with the same issues in jobs, healthcare, and the economy.

Andrew Cuomo was sworn in as the new governor of New York and is already set to deal with budgetary and job issues left for him by his predecessors. Yesterday Cuomo said he will seek a one-year salary freeze for state workers and today he followed that up by saying that he would take a 5% cut on his own salary and will cut many of his senior aides salaries the same amount.

Downstate in Manhattan comes news that there are new rules for restaurant tips that have come into effect: “'Never before were there any regulations regarding tips in New York State,' except for a mysterious paragraph in a 1968 law that barred employers from appropriating tips, said Jean Lindholm, a supervising labor standards investigator at the State Department of Labor. An inconsistent mixture of Labor Department opinions and lawsuit judgments has governed industry practice through the years, she said, adding, 'It was time, long overdue, to clarify the rules.'

Lastly, for those people who can find new jobs, most of them have had to switch careers and with a career switch has come a lower pay according to a new report from Rutgers' Heldrich Center for Workforce Development. The article starts out with "even the lucky ones are not so lucky" which is the sad truth in the matter. Some of the same issues remain for 2011...

Jobs in the Financial World

With Warren Buffet coming out today (via Telegraph) and saying that next time the financial world goes bust, the chief executives of those banks and their wives should go broke too, I figured it was a good time to delve back into the job market in the financial world.

Within the same article came this ominous forecast: "Despite the difference in the fortunes of those on Wall Street and many Americans in other industries, analysts have said that banks may decide to cut jobs in coming months as trading revenues decline. Meredith Whitney, for example, has forecast that up to 80,000 finance jobs could go over the next 18 months." Eek

More specifically, Morgan Stanley came out last week and said they were going to freeze investment bank hiring in 2010 according to Bloomberg (H/T Wendy).

For those looking for a job in this market, FINS has some advice for college graduates about how to find a job in the financial world (one of the pieces of advice "Take on Internships" is a good one).

Also from FINS, a different type of sheriff is coming to town: the IRS is hiring special agents for their Criminal Investigation Division, one of its prime divisions.

Lastly, Corporate Compliance Insights has two Dilberts that hopefully don't hit too close to home for many compliance professionals.

"No" Doesn't Always Sound The Same Way

We've all been rejected. Whether it be in high school on the person we had a crush on, when we were applying to college, when we've interviewed for jobs, or even when some of us have been let go from that a job that we've all been told, at one point or another: "no". But there's many different ways to say no and doing it in the right way in both the hiring and firing process, a company can help candidates and former employees as well as helping their own self-image. Let's take a look at the three types of candidates and how is a bad and a good way to say N-O.

External Job Candidate

These are the easiest people to say no to out of the three groups we'll talk about, but there are still proper ways to go about this. I know one former classmate who was told they had a prestigious position at an investment bank coming out of business school only to have that invitation revoked once the company hit some skids. How did this person find out they weren't going to be employed at this large bank? The news. Seriously. Instead of calling/e-mailing/writing the candidates to let them know their signed offers were not going to be honored, they instead let the news organizations reporting the story know and the classmate found out by reading about the company online. That's rough--and wrong.

The best way to go about it was done a few years back for me. I applied for a job that was I pretty sure I was under-qualified for--but I really liked the company, job, pay, and thought it would be worth it to apply. After speaking with the Human Resources representative for a few minutes on the phone the day I applied, she told me they were sifting through applications and she would get back to me. She did get back to me--later that evening and told me that they were not going any further with my application. Instead of just not calling me back (which is happened to many people I know plenty of times recently), she called me on her drive home to discuss why they were going elsewhere. She talked me through the strong points in my resume and where they felt I may not fit for the job. She also told me they would keep my resume on file and I shouldn't hesitate to reapply in the future. I was shocked by this phone call and certainly appreciated it. "No" didn't sound like "no" that time.

Internal Job Candidate

Probably the most difficult person to say no to out of the group. At least when you're laying off someone you're ushering them out the door and outside job candidates you don't know from Adam usually--but internal job candidates who don't get the job are still going to be walking around those same floors every day. The worst way to do it is to do it impersonally and/or string that person along. Most internal job applications require a candidate to tell his or her boss and/or human resources representative. Then they need to interview at the same company they already work (which usually is accompanied by a good deal of inter-company gossip). To say the least, these people are sticking their necks out and putting their jobs on the line. Many bosses probably are not so happy with a candidate saying they're looking for another job in the company and if they don't get hired by the new hiring manager, fear of retribution from the original manager can be strong.

So it's not a surprise that I shook my head at one story I heard recently of how an internal job candidate was strung along for a month and half only to not got the job. Worse yet, instead of the hiring manager or human resources representative letting the candidate know they weren't going to get the job, they received a call from the home offices from someone they never spoke to before who was in charge of breaking the bad news to them. Not only does this person have to run into the people who didn't want to hire them every day, but they also had to deal with the fact that none of them would have the common courtesy to tell the candidate themselves.

Instead, internal candidates should be met with an open and honest process. Companies should clamor to keep good employees and if an employee is looking for a new position internally, it's a good bet they're looking externally as well. Even if the candidate is ultimately not hired, he or she needs to be given every form of support possible to make sure that they don't become angry, resentful or disenfranchised with the company. Sometimes this can be done in the form of offering the candidate more training to improve their skills or some sort of financial incentive to thank them for trying to stay but keeping them satisfied all at the same time.


Letting Go Of An Employee

In this economy, almost every company has at least had to think about cutting back on employees. The recession has hit every industry hard and difficult personnel decisions have had to be made all across the United States and the globe. But there is a right way and a wrong way about doing things. One prestigious investment bank--which has been in the news a lot recently for other unethical practices--certainly did this the wrong way. Instead of letting employees know that there would be some layoffs coming, they leaked it out to a few internal members and let them spread around the rumor. Hysteria set in for a day but no one was let go. The next day, when people tried to swipe their key cards to come into the building, some of the employees had key cards that didn't work. It wasn't a glitch--those employees had their key cards shut off because they had been laid off. How embarrassing must it have been for those people to stand in the lobby of this large building as their still-employed co-workers are passing by? How confusing must this have been for many of them. When these people went to security to find out why their badges weren't working, they were each handed an envelope with severance information and a number to call if they had questions. That's just awful.

I also heard of other companies doing right by their employees. There were stories of small business owners who knew they had to shut down operations and instead found creative ways to stay open--sometimes even getting the employees to sacrifice some benefits so that everyone could keep their jobs. There were stories of CEOs who instead of taking a fat paycheck for reducing payroll, took that fat paycheck and put it back into employees salaries so that no one would be let go. But when employees have had to be let go, there were right ways to do this too. Some companies offered long severance packages, vested previously unvested retirement investments, provided job search support or future job training, and some even kept the door open for rehiring. While sometimes there's very little way to avoid it, you want people to leave your company with the least sour taste in their mouth as possible.

So what way do you use to say no to employees? What are best practices that you've established? What about any horror stories you may know of? Let us know in the comments below

Moving Up and Moving Out

A few links for your humpday:

The New York Times provides a toolkit for women seeking a raise and an opportunity to move up within their company.

The New York Times also provides a toolkit for making yourself indispensable regardless of your gender in this Career Couch Q&A

The Associated Press via Yahoo! News says that more employees are jumping ship as a sign the economy is improving (H/T Wendy)

And, lastly, from EW, who says you can't be promoted in The Office?

College Gap vs. Racial Gap

Sorry it's been a few days since I posted but I've been busy celebrating my birthday and such... ;)

Well I'm back with some good articles:

First, from the New York Times, an interesting look into the fact that a college degree can't close the racial gap and how some candidates try to scrub their resume for anything that gives away race to a potential employer. As far as we think we've come in this country (Black President, major women candidates, etc.), we still have a long way to go in some respects.

SmartMoney asks if Wall Street is in hiring mode? Forbes answers by saying that while the economy is recovering meaning layoffs have slowed, hiring hasn't exactly started up at a large pace yet (it's also a tough time of year to hire). New York Magazine says (maybe tongue-in-cheek) that this is proof President Obama's job summit is already working.

Have a great weekend! Many more links next week!

H-1B, ARRA, and TARP

I was forwarded a job description for a position at Capital One by someone I know. They didn't want to know anything about the job or my advice on taking it or anything to that effect; they wanted to know what this note meant at the bottom of the posting:
As a recipient of TARP funding and under ARRA regulations, Capital One will not sponsor new H-1B petitions or transfer existing H1B Visas.
I was curious myself. So I did some research. The Washington D.C. Employment Law Update laid it out in March:
The United States Citizenship and Immigration Services (USCIS) announced that employers receiving funds through the Troubled Asset Relief Program (TARP) or under section 13 of the Federal Reserve Act (covered funds) must meet additional requirements before hiring foreign nationals to work in the H-1B specialty occupation category.

These new requirements were established by the Employ American Workers Act (EAWA), a component of the American Recovery and Reinvestment Act (ARRA) – otherwise known as the stimulus package – signed into law on February 17, 2009. Under EAWA, companies receiving covered funds must guarantee that they will not displace citizen employees

And if you still want to hire that person, you need to answer some more questions that basically guarantee the government that you didn't displace a US worker for this job.

This makes sense in practice (with all the taxpayer money going to the banks, you want them to hire US tax-paying citizens), but I was surprised (probably wrongly so) to hear it was being done in this manner, with disclosures like that in postings.

Here are some more details on this from U.S. Citizen and Immigration Services.

Hitting Up the New York Times

Sorry for the absence, but I have a bunch of New York Times articles for you on this Tuesday night:

-First, the Times talks about the bankers golden parachutes creating a windfall for bankers and resentment from the rest of America

-Next, the Times asks when the economy will turn around and hiring will begin again

-Lastly, the NYT on women breaking through the glass ceiling of the Supreme Court, moving from Anita Hill to Sonia Sotomayor


Making Staff Decisions in a Recession from the Wall Street Journal

Job losses and pay cuts are mounting as the U.S. economy struggles. Ravin Jesuthasan of Towers Perrin says that health care and energy look like the safest industries in these tough times.

Oxford's Business History Program



Oxford Offers a Business History Lesson from the Wall Street Journal.

Oxford University's Chris McKenna says during times of economic crisis, look to the past for a broader perspective. He speaks with WSJ's Alina Dizik about a new history course at the university.

What I'm Hearing...Holiday Parties

We've all heard the reports from the news regarding the number of organizations that have slashed their holiday parties due to the economic downturn. While you may or may not agree with that approach - I don't, assuming the organization has funds to cover the cost of the party - one aspect that hasn't been covered as much is the decision to attend the party.

Now more than ever, it's critical that employees attend their organizations' holiday parties. What better way to demonstrate your interest in and support for your co-workers and your organization? Those who attend parties will be seen as the employees who care and are team players, and may have the upper hand if layoffs arise down the road.

While at the event, mix and mingle with attendees outside your typical work group. Expand your network. Get into as many pictures as possible to be remembered as the outgoing, caring person who is thankful for their job. Who knew that partying professionally could contribute to job security?!
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