Quote from Reuters “Goldman Sachs readies biggest layoffs since the financial crisis”

What can you do today?  In this 2nd of our 2-part series, we discuss 3 tactics you can use now. For Part I, please click Here.

Today in Part II, will cover:

  1. Are 3rd party recruiters right for you?
  2. How to intelligently apply online
  3. If you’ve already left your job, how long until you wait until you need to include an end date

 

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Transcript

 

Summary of Wall Street Layoffs

Hi, this is Mike Mittleman, your career coach.  I help people get top jobs financial services leveraging by 15 years as a banker from Credit Suisse and Merrill Lynch.

Our topic today, “How to Prepare for Layoffs Season” is split into 2 parts. You can find Part I by subscribing to my YouTube channel under the same name.  In part I, we covered:

  • How to reach out to recruiters on LinkedIn
  • Creating a wow executive resume that will actually get read
  • Accessing online courses to build your skillset

Today in Part II, will cover 3 new strategies:

  1. Are 3rd party recruiters right for you?
  2. How to intelligently apply online
  3. If you’ve already left your job, how long until you wait until you need to include an end date

 

#1 Are 3rd party recruiters right for you?

What kind of a question is that?  Why wouldn’t a job seeker always want to work with a resource that has access to jobs you want?  Well, not so fast.  Let’s dig into how a recruiter works.

Recruiters are either contingent or retained.  Those who are retained work with a company on a specific job search.  If a recruiter is contingent, they compete with all the other recruiters out there to get candidates into a company.

So, it seems pretty easy that you want to work mostly with retained recruiters. Right?  Yes, the problem is that some contingent recruiters will lie that they are really retained.  Recruiting, like every major business, has bad actors.  How do you tell the difference?  It’s hard.

You can them ask detailed questions about the company they represent to tease information out of them if they are telling the truth.  At the end of the day, it’s hard.

Also, if you are making a pivot to a new industry or new position, recruiters will not give you the time of day.  They get paid like all of us do, meaning do the least amount of work for the greatest pay.  A person making a pivot will require more work for the recruiter to convince the company to interview you.

Why should the recruiter do more work if they already have “turnkey” professionals they can present.  If you have a unique skill set, great.  If not, you may not want to allocate much of your job search time here.  10-15% of your time at most.

If you do work with 3rd party recruiters, please keep in mind that they work for the hiring company, not you. Don’t treat them like a career coach who is paid by you, the job seeker.  They won’t rewrite your executive resume, optimize your Linked profile, or give you serious interview preparation.

#2 How to intelligently apply online

First and foremost, given that experts estimate that 75% of online job openings are fake, don’t spend more than 15-20% of your time in this direction. However, if you are going to apply online, let’s be smart about it, even if you have the perfect executive resume.  As a quick helpful hint, your executive resume headline should be 5-8 words and communicate your value add.  Back to applying online.

  1. Don’t just apply for the sake of applying
  2. If a job description says a cover letter is optional, then that is codeword for mandatory
  3. Do what it takes to find the professional responsible for the LinkedIn job posting and follow up multiple times on multiple social media platforms. You have no excuse that you can’t find or guess intelligently their email address.  Follow up your online submission with a very quick email or LinkedIn message that you applied for the job and 3 bullets because you are the perfect candidate. If you follow up on email, follow up 2-3 days later on LinkedIn or vice versa.

Maybe the professional is on Twitter? If you follow up by LinkedIn, why not us an audio or video message.  Wait, you can do that?  Two great lesser-known secrets about LinkedIn are that from your phone, you can send audio and video messages.  If you really want the job, a quick 30 second video to highlight your 3 bullets will make you stand out. Think that is too much work, think again.  Keep up a relationship with the professional since the job to which you are applying will most likely not be the only job the company has. Please

#3: If you’ve already left your job, how long until you wait until you need to include an end date on your executive resume

The world is demanding more and more transparency every day. Honesty is in vogue in job search.  The general guideline for job search is 2 months.  If you leave your job, say January 1, then by March 1, you should include an end date.

However, never have an end date on your executive resume.  Wait, did I just contradict myself?  No. If you have gone past the 2-month point, then the first entry in your executive resume experience section should be something to fill the gap.  Continuing education, unpaid consulting or anything, something needs to go there.  An end date on your most recent experience is a sure-fire way for a human and an HR bot that reads your executive resume to ignore you.

You might ask, what about your LinkedIn profile?  Although I think you have more latitude here, I would still stick with the 2-month guideline to be safe.

Summary

I hope you found Part II of this video “How to prepare for layoffs season” valuable.  Don’t forget to subscribe to my channel and download my cheat sheet to getting found by the right recruiters on LinkedIn.