From Where will Salvation Come?

December 4th, 2009 PlatinumMD No comments

As mentioned in the previous blog entry, the recovery is likely to be very slow.  While the stock markets perform somersaults on the back of the massively cheap liquidity (Quantitative Easing) from central banks and future taxpayer-funded stimulus packages paid for by huge government debt, those people in the real economy who are desperate to find work are not feeling terribly happy.  Even those in employment may still be subjected to the 20%-30% pay reductions from employer moves to 4-day weeks or long periods of time off witnessed in the car manufacturing sector.

Sadly, as the public sector moves into redundancy mode after the election, with as many as 300,000 jobs under threat, as well as countless public sector contracts, the risks are not yet gone and the human misery will endure.  This will no doubt have a disproportionate impact on specific regions of the UK which depend more on government expenditure, with the North and West of England suffering more than London and the South East.

Unemployment and Govt Spend Regionally

So from where can we look for salvation in 2010?

From Europe: Well, we could look to Europe as it emerges from recession, but Europe’s sclerotic economy has underperformed most of the developing world and the United States.  And with Nicolas Sarkozy causing fury in London as he looks forward to strangling London’s financial services sector with his newly installed French Internal Market Commissioner, I think Europe is once again going to turn inward and become more protectionist against the evil forces of global capitalism. This does not make for a strong Europe.

The US: The US could be looked upon as a possible salvation, after all markets have rejoiced at the minor decline in unemployment – just 11,000 versus an expected 110,000. Sure, it may herald an improvement in the US economy.  But declining rates of unemployment do not a strong recovery make.  Fast and rising levels of employment, combined with growth in incomes and stable savings rates can offer the consumer (and even investment) led rise in consumption the world sorely needs to come out. In reality, the US is not the best prospect for the world economy, saddled as it is with debt.

US Job Losses to Nov 2009

US Job Losses to Nov 2009

The BRIC countries (Brazil, Russia, India, China): Well, Brazil is performing well in this financial crisis but it is not an economic powerhouse and has its own problems of an asset bubble as global investors borrow cheaply and plough money into the Brazilian market that is fuelling a surge in imports.  As such, interest rates look set to rise to 10% there.  Meanwhile, Russia has suffered during the crisis and is only gaining ground with the rise in oil prices from their previous lows.

Asia: It is Asia that must come to our salvation.  Indeed, even the members of APEC- Asia-Pacific Economic Cooperation – concede that this time around the burden must fall on them:  Singapore’s Prime Minister Lee Hsien Loonghas  said that, with weaker US growth, “somebody else has to spend more somewhere else in the world…[and t]his has to be in Asia.” – Nov 2009.  Indeed, APEC represents 21 of the world’s largest economies accounting for 44% of world trade and 40% of the world’s population.  The International Monetary Fund said last month that Asia would grow by 2.75% in 2009 and 5.75% in 2010, compared with flat to negative growth in the US and Western Europe, boosted by stimulus packages led by China – which has invested $586 billion in measures to grow their economy and build infrastructure.

That doesn’t mean you should rush to Asia for jobs.  The jobless rate across Asia has risen steeply during this crisis as western demand for manufactured goods collapsed.  But it does mean we should cheer the Asian economies on and support the US in its ongoing, though sometimes fruitless, efforts to persuade China to allow the Yuan to appreciate so that our industries can begin exporting to a truly enormous market.

The moral of the story – the fate of our economy largely rests in the hands of others much farther from our shores.

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Job Market Update – Oct 2009

November 2nd, 2009 PlatinumMD 1 comment

The “Lace Plant” Economy?

The job market in the UK is fragile, with Thresher’s announcing the potential for 3,000 jobs to go as it moves into administration.  Moreover, a report for Centre for Cities predicts a rise in public sector job losses, reaching 290,000 by 2014.  This process is already underway with job losses announced in the Land Registry and evidence that fixed term contracts are not being renewed.  Finally, growth remained negative this last quarter, which is forcing the BoE to consider increasing Quantitative Easing by £50-75Bn to pump yet more money into the Economy – if the Banks actually pass this on to the private sector economy that is.

However, other news suggests that the job market is picking up.  Banking and financial services recruitment has been accelerating.  Several recruitment companies have been swamped with demand as banks finally invest in new talent amid super-profits in their investment banking arms.  No doubt such a boom is helped by the growth seen across the world, particularly in the US where there was over 3% growth in GDP.  Even retailers are now buoyant about economic prospects as fearful consumers gain confidence in their own job security with slower rises in unemployment.  Perhaps this year people will really try to celebrate Xmas.  Although if they do, they seem set to celebrate in the UK as airlines continue to struggle with falling demand and high oil prices.

Economic Growth Prospects: The Madagascan Lace Plant

Economic Growth Prospects: The Madagascan Lace Plant

Overall, what does the future bring?  Cautious optimism is the view of this blog.  There are green shoots, but  sadly they belong to the  Madagascan lace plant – one of the slowest growing plants on the planet and one which is notoriously difficult to cultivate. As such, there will continue to be job losses and the graduate population will continue to feel pain for a while yet.  But we might be seeing some hope.   Let’s hope the economists running the economy are sophisticated horticulturists!

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Create your own “Personal Brand” to Stand out?

October 23rd, 2009 PlatinumMD 4 comments

Should you try to build and communicate a personal brand in your CV and Cover Letter

As if job searching was not hard enough for graduates; now we have advice emerging from Serif – according to the news article “the UK’s leading independent design, publishing and creative software company”.  Not the usual place you’d expect advice. With no recognised professional expertise in the recruitment industry, giving advice on writing a CV seems a little odd and may have some commercial motivations.  They suggest the following tips to stand out with your own “personal brand”: (see: http://www.onrec.com/newsstories/25888.asp)

QUOTE

1. Catch the recruiter’s eye with a personal logo
A well-written cover letter can make your application instantly stand out from the rest when emblazoned with a personal logo. …[deleted part]

2. Add ‘omphf’ to your résumé with colour and graphics
Once the cover letter grabs the recruiter’s attention, elevate a traditional text-laden résumé to a new level by incorporating finely-tuned colour pallets or accent graphics, but do not be tempted to go overboard.  Add that extra bit of professionalism to a résumé by turning the document into HTML format or a PDF.

3. Continue the conversation with a personal website
Once a recruiter’s interest is sparked, their first move will be to search for the candidate on the web.  Make an impact by extending your personal brand online with an interactive website. …With a little thought and creative input, you can create professional-quality, attractive and informative sites that integrate web 2.0 elements, like a blog, links to your Twitter feed or Facebook page and embedded video.

4. Leave a lasting impression with a portfolio and business card
Great qualifications, a perfect résumé and a great online presence can help get the interview, but then the focus shifts to maintaining a personal brand during and afterwards. Candidates can offer samples of their relevant past experience (eg. sample projects or writing) in a full-colour, seamless presentation and leave behind a personal business card with all relevant contact information, including website address.

5. Brand your replies and ‘thank-yous’
Following a job interview, a candidate should send a ‘thank you’ note to the interviewer.  Stay fresh in their memory by mentioning a point of conversation from the interview and include your personal brand logo on follow-up correspondence.

UNQUOTE

This advice, in many ways, ignores the reality of hiring, the recruitment industry’s methods and even of people themselves.

What does a logo really bring
I have never known a logo making the difference in a cover letter.  In fact, in many instances, the cover letter is separated from the CV when it goes to the interviewer, so they may never get to see it.  In fact, such graphical embellishment can do as much to harm you as help you, being easily interpreted as “unusual” or, worse, “weird”.  Not the brand you want to have.  The same happened with CV DVDs, which contained the applicants interactive portfolio of work and CV.  It often looked fantastic, until people thought – this is a bit odd really…and it was downhill from there.

Is graphics and file type the be all and end all
Graphics do not help you unless, perhaps, you are applying for a creative job with the likes of Serif! For most other jobs, adding graphics and slight font changes makes you stand out, but for the wrong reasons.  Make the CV look clear, easy to read and aesthetically pleasing and you will be fine. As for making a PDF version of your CV, yes you can. But note that most recruiters will ask for Word versions so they can put it into their own template with their own cover pages.

People don’t buy a book by its cover
Following up with samples of work in nice presentation packs can be a nice touch, but this would typically only apply to creative-type jobs where such things might be requested.  And again, as long as the work is nicely presented, the focus will soon turn to the actual content and your branding efforts will vanish.  When it comes down to it, people may initially judge a book by its cover when deciding to take it off the shelf, but they only buy it once they are happy with what it and reviewers say about the story on the back and inside.

An online strategy is valuable, but not like this
A website is fine to do.  It is part of managing your online information, as recruiters will look on Google or LinkedIn to find more information about you.  But blogging and twittering is not necessary unless you are going for certain roles, like online marketing or journalism, professions who may be impressed with a high quality site.   But let’s be honest, while Serif do undoubtedly care about helping people get back to work – well why wouldn’t they – they could be interested in you building a site with their software, too.

Focus on your achievements and job search strategy, not a personal brand

When all is said and done, this is generally unhelpful advice.  Companies invest millions in advertising and sponsorships to build a brand with positive associations they want you to link to their products and services.  Equally, at school and university, you spent much time and effort building your brand and reputation with colleagues and tutors, and restoring it in the case of a personal scandal. You did not have or need a logo, and if you had presented a business card with a logo to people who did not know you at university, they would have thought you were a bit egotistical or a bit odd.  Don’t think an employer will be different – they’re the same people you went to school and university with, only with a few more years of experience and cynicism!

Get your content write and focus on finding the right jobs through your network of contacts, job sites, direct approaches to firms, or recruiters.  Alternatively, set up your own business if you can.  Don’t waste your time on a logo and website unless you know it will be appreciated by the prospective employer.  If in doubt, ask one or two if it would help you.

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Is it time to dust off your CV for the job market revival?

October 16th, 2009 PlatinumMD 8 comments

The Return to Growth

We hear talk that the UK economy is recovering.   We continue to see the FTSE shoot past 5000 (see chart 1 below), as traders pile into the bull market in search of the easy profits so greatly missed since August 2007.  Certainly bankers are set to receive bumper bonuses, higher than any previous year as far as Goldman Sachs is concerned, showing that confidence is returning to the City. Yet again, the City is proving that almost anyone can make a big profit when indexes only go up and go up steeply like this.  But the market is just a sea of expectations and assumptions – and so markets can come crashing back down to earth when “main street” realities prick the bubble of Wall Street financial models.

Bank super profits are easy when indexes rise so fast

FTSE 100 Index: Bank super profits are easy when indexes rise so fast

But this happy picture of improvement is not restricted to the investment banks. Surprise data from the UK Office of National Statistics shows a drop in youth unemployment over the last quarter: young jobless numbers fell from the record high of 947,000 to 946,000, rather than breach 1 million as forecast by economists.  Google, considered the weather vane of the internet economy, has seen rising quarterly profits ahead of analysts’ expectations (14/10/2009). And John Lewis, the same barometer on the high street, has also seen rising sales.

On the other hand, Economists urge caution that we are not out of the woods yet. Certainly as far as employment is concerned we are in a precarious position.  The chart below shows the trend in jobless totals in past recessions in the USA, and it seems we are not far from the bottom when looking 24 months out from Dec 2007. But this recession is different to others.

The chart shows the progress of job losses in the USA in past recessions

The chart shows the progress of job losses in the USA in past recessions

The shock to bank balance sheets has been extreme and many European banks are still sitting quietly on toxic assets that they have yet to write down, holding them for the long term in the hope they will recover their value. While these assets exist, banks will need to restrict their lending and build up their capital base such that lending to businesses – the engine of our future recovery – is constrained.  Banks also continue to deal with rising corporate and residential defaults that reinforce their risk averse proclivities.  As repossessions continue, mortgage payment protections run out and central government prepares to end its support in the face of huge deficits, more painful job losses and cancellations of large projects will ripple through the economy.

So, do you brush off your CV? Well, yes of course. One must not stand still. But don’t think that the market is easy or think something is wrong with you if you cant find work quickly. We have more ups and downs in this recession and you need to be savvy, positive, creative and realistic. The opportunities are there – but you need to find them and be well-prepared to get them.

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Employment Gaps – Do they Still Matter on your CV?

October 8th, 2009 PlatinumMD 3 comments

Everyone in recruitment would always tell you:

  • “make sure you explain any gaps”;
  • “don’t leave any unexplained gaps on your CV”; or
  • “employers don’t like people with gaps in their work experience”.

Some of this advice is still true – you should still account for gaps in your CV but one thing has changed: employers no longer worry that there is a recent period when you have not worked.

Recruiters are now saying they and employers recognise that we are living through the worst economic situation for years, which has not just hit blue collar workers in manufacturing – the traditional victims – but swathes of highly qualified bankers, lawyers, accountants and consultants who simply cannot find work where none exists.  Trying to come up with convoluted ways to narrow the gaps (by extending your employment dates in your last role) or pretending to have done something during that time off may make you feel better, but most employers will understand if you are a victim of redundancy during this uniquely painful period in economic history. They may not excuse any lies they subsequently discover.

So don’t be worried about how your CV looks now if you have been made redundant and had time off work for a while. Try to make use of the time wisely and productively so you maintain some of your skills and confidence levels.  The mental anguish around those are more of a barrier to your future success at interview than how a gap in your recent work experience looks on paper.

Best of luck to those of you looking for work.  The market is improving…so be strong and keep believing in yourself!

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Recruitment Consultants and Your CV – The First 20 Seconds

October 5th, 2009 PlatinumMD 4 comments

What do recruiters look for in a CV?

A simple question, but one we sometimes fail to grasp.  We all hear that you have 20 seconds to impress a recruiter, but what does that mean.  Surely, you think, recruiters cant make a decision in twenty seconds and, if they do, what’s the point of adding all the detail.

The answer to this is straightforward.  As with your CV, you need to put yourself in the shoes of the recruiter. A day in the life of a recruiter is presented below, but it confirms a few things:

  • They have very little time and are very much reactive, responding to calls and urgent requests often
  • They upload all new CVs together to their system to keep them there for future reference, but no automatic call back
  • They already have candidates in the forefront of their minds, not always checking the databases for candidates.
  • When they do check their databases for candidates they have little time, so they really do need to be able to skim your CV

So when looking at your CV, what does a recruiter notice first:

1. The first thing is the CV formatting and presentation.  An ugly or poorly formatted CV is a turn off.  It goes to the back of the pile.

2. Obvious spelling mistake at the beginning.  If you spell a common word poorly it is an instant turn off as it looks unprofessional.

3. The names of the companies for which you worked.  Strong brand names lend credibility to your experience and give you an instant advantage

4. Education, and yes, even A-levels for experienced candidates. With so many applicants large companies with major recruitment programmes turn to any minor details to screen out candidates.  Amazingly, even candidates with over 10 years work experience can be rejected on the basis of these old grades.  But you can’t leave them off – they will either ask or assume the worst – that you got poor grades.

5. The job title and main responsibility of the jobs you have done.  Basically, they want to know the thrust and scale of the responsibilities you have had to see if they fit the client’s criteria.

Once they have scanned your CV to check all these, they will make their shortlist.  At this point, they go into detail on your CV and may call you to discuss the role and ask you to tailor your CV to the particular job, if certain skills and experiences are not clear enough.

So get the basics right and make sure you deal with these key requirements.  If not….you will find it hard to get their attention!

———————————————————————————————————————————————

A Day in the Life of An Experienced Recruitment Consultant

08:15  I arrive at work early to make a cup of tea and have a chat with my colleagues. Going to work is anything but a chore here, with the friendly and lively atmosphere.

08:35  I listen to my voicemails and make any urgent call backs. I have a message from my candidate, who has his second interview at 10:00 today, to inform me that he has all of the information that I sent him and confirming that he will call me with his feedback after the interview.

08:55  Check my emails and applications that have come through from the night before. We have a system that automatically registers the candidates details and CVs onto our database in a matter of minutes so I send all suitable applicants to this system so that they can be contacted, once they are registered. Within my emails one of my regular clients has sent me the details of an urgent vacancy so I print off the job description to digest before calling them.

09:20  I call my client and talk through the urgent vacancy, as it happens I had a very similar role local to this company last week so I instantly remember two suitable candidates. After taking the details I call the two candidates, the role sounds perfect for them so I submit their CV’s. Once the vacancy is written and advertised I add the figures to our ‘Activity’ target board that we have on the wall. Each team has their own board and in addition to our individual targets we are targeted weekly as a team and when we meet the targets for the week we get to leave an hour early on the Friday which after a long and busy week is a great feeling.

10:00  Although I am confident that my candidate will have arrived at his interview, I make a quick call to the receptionist of the company just to double check that he arrived ok. The receptionist informs me he arrived 15 minutes early and is already being interviewed, fingers crossed it goes well! I have sent two fantastic candidates over to the urgent vacancy but to make sure I cover all areas, I search our database for candidates that myself and colleagues have built up over the years, followed by the external CV databases that we have access to. I find one more candidate, interview him by telephone and once I’ve established that he is suitable (and interested in the role) I send the details over.

11:15  I have a visit with one of my local clients to find out more about their business and discuss how we can assist them going forward. I take my colleague with me from one of the other divisions who it will also benefit. If I was in the office I would normally spend this time doing Business Development, however today is an exception as it is important that we meet as many of our clients as possible to develop relationships and find out more about their business so that we can find candidates and provide the highest level of customer service.

12:45  Arrive back in the office after a successful visit where we were able to strengthen our working relationship with them and as a result picked up four new vacancies, two of which are for me to work on and the other two for my colleague.  I check my emails and my client with the urgent vacancy has requested to see all three candidates for interview next week. I have enough time before lunch to speak with the candidates and arrange the interviews.

13:00  Lunch Time. As it is a Friday I pop to the local pub with some of my colleagues. Whilst I am on lunch my candidate who had the second interview called me on my mobile to inform me that his interview went well, that he really wanted the job and would 100% accept if he was offered, fantastic.

14:00  I check my voicemails and find that I have a message from my client who asked me to call back with regard to the feedback from the second interview so I make the call straight away. I speak to my client and pass on the positive feedback from the candidate. The client then informs me that the MD was very impressed with the candidate and would like to offer him the position.

14:20  I call my candidate and after a brief chat relay the offer details. The candidate is absolutely delighted with the offer, it is just the job he has been looking for and it’s located closer to home meaning he can spend more quality time with his family.

14:45  I speak to my client and confirm that the candidate has accepted the offer and then I pass his contact details over so that the contract can be sent to him immediately. After processing the details through the system I add the figures to our target board meaning that we have now done target for the week and will be entitled to leave the office an hour early. My picture goes up on the plasma screen in both of our offices and everyone in the team cheers as we have done target. It feels great to be part of a successful team. It is smiles all round.

15:30  With an hour to go I tie up all loose ends for the week, ensure my Inbox is clear and re-advertise all of my vacancies.  I am attending an in house training course next week so I make sure I have all of the course details to take home with me to read over the weekend in preparation. I find the training courses very refreshing and motivating. I am very keen to progress my career and there is no question in my mind that Training and Personal Development are important to the Management team and that I will always be pushed to my potential along a set career path.

16:00  Although I try and stick with my plan as much as possible it is not always easy to do so as I quite often find myself reacting to new tasks as they present themselves which have to be dealt with. Time management is crucial in recruitment and so I spend the last half an hour finishing my plan for the following week. My pipeline is looking healthy so I am looking forward to another great week.

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Executive CV Services – What’s the Deal

October 1st, 2009 PlatinumMD No comments

Executive CV Services

Many wonder what is the difference between Executive CV Services and regular CV services.  Is it that the effort put in is greater and the standards higher, or is it just a rip off because Executives are less price sensitive?

The answer, as ever, is that it depends.  It depends on the quality of the CV writing service as well as on the individual CV writer. 

CV services like Platinum – www.professionalcvwriting.com - devote the equivalent of a solid day working through and proofing an Executive CV, ensuring it is clear, focused and articulated powerfully to convey gravitas, depth and suitable breadth.  It is a thoughtful process and is performed by individuals who are themselves senior executives possessing an understanding of business and the demands of recruiters for these roles.  Commissioning services from Platinum means you are paying for this expertise, which is uncommon in many CV Service companies.

Therefore, the higher fees reflect the effort AND the experience you are gaining.  Where Platinum differs from others is in the price tag linked to these services.  With some companies charging up to £1000 for a CV, there is an argument that some services are pushing the boundaries of value for money.  Platinum does not endorse such rates.

Having said that, obtaining a strong, professional CV capable of impressing other senior Executives is not straightforward and deserves a significant investment.  Only you can determine whether that investment is proportionate and the end result meets expectations.

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Importance of a Professional CV or Resume

September 29th, 2009 PlatinumMD No comments

The importance of a great CV (Resume) is again spelled out today with a story from CNNmoney on 28th September 2009.

It goes to show that even if you have the best experience, if it does not come across effectively on paper then you are simply not going to get the call for interview. It is worth investing time, effort and, yes, money if you need to, in your CV (Resume).

Platinum

NEW YORK (CNNMoney.com) — The résumé is the gateway to most job openings. But even the most qualified candidates have trouble standing out on an 8-1/2 by 11 inch sheet of paper.

That’s because it takes more than just experience to catch an employer’s attention.

Darrin Bailey learned that the hard way. With 17 years of experience in surgical instruments sales and an extensive network of contacts in the industry, Bailey assumed he’d have no trouble finding work after he was laid off in April. But when his job search stalled, he was shocked.

“I didn’t even apply for unemployment,” he said, “I figured I would find something relatively quickly. A month and a half later I was still looking. I was shocked.”

Bailey, 44, who lives in Damascus, Md., with his wife and four-year old daughter, says he expanded his search to include the entire the mid Atlantic area and used job search sites specific to his industry and level, like Medreps.com.

“I heard nothing,” he said. “I didn’t even get responses that I sent résumés.”

That’s when Bailey decided that he needed the help of a professional. He found a local résumé writer, Cheryl Palmer, and paid her about $150 to spruce up his résumé.

Together they hashed out what Bailey wanted to convey and Palmer took it from there.

Like many others on the job hunt, Bailey’s résumé initially lacked a professional look, Palmer said. “It wasn’t that he wasn’t a good candidate, it was the presentation of his information.”

To go from average to outstanding, Palmer made some small changes to the the font and format and more major improvements such as summarizing his duties in paragraph form and highlighting his accomplishments with bullets, to make them “very easy to skim.”

“I knew right away it was good,” Bailey said of the finished product.

“The very next week after I sent it out I got five calls and immediately had interviews. Two weeks later I had an offer.”

Job Market Watch – Sept 28 2009

September 29th, 2009 PlatinumMD No comments

A survey done in mid-2009 with 2,100 UK employers by the recruitment expert Manpower discovered that 80% of employers expected no change in staff numbers for the next three months, while 9% expected to actively increase staff. This boosted the UK’s net employment forecast up to -2 for the fourth quarter of 2009, being at -6 in the third quarter. The numbers gauge the balance of employers’ intention to acquiring to releasing staff.

Employers are reportedly turning to more experienced candidates, reinforcing evidence that the young are suffering greatly during this recession.

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