Anyone can post a job, but successfully reaching qualified candidates with your posting and attracting the right applicants is an entirely different story. When a job posting is done well, you can dramatically improve both the quality and quantity of your applicants. Here are 5 easy ways to maximize your job posting:
1. The job title should be specific and simple. In order to show up in search results, job titles need to reflect what job seekers are searching for. Internal jargon won’t help your job get found, nor will this language mean much of anything to qualified candidates who come across your job.
2. The job description needs to be informative, accurate, and enticing. If you don’t provide applicants with enough information to determine whether or not they qualify for the job, you won’t get the right applicants. It helps to accurately define both your expectations for the role, as well as realistic qualifications. Job descriptions should also be keyword-rich so that they can be easily found in online searches.
3. Use a benchmark. Do you have a colleague or contact with a similar background and skill set to your open requisition? He or she can be a useful resource for strategizing about how to fill the position. This contact can advise you on the best language and tone to use to appeal to your audience and tell you where his or her peers are conducting their job searches.
4. Pick the right sources on which to post your job. The “post and pray” approach may bring back applicants, but if you’re not thoughtful and targeted about where you post your job, you’re likely to end up with an unqualified, random assortment of candidates. Your best bet is to use sources where you know relevant candidates are active and engaged—and where unqualified candidates aren’t going. If you haven’t already, consider adding niche talent communities to your sourcing arsenal.
5. Share the posting with your current employees. Once the posting is finalized and published, one of your strongest recruiting tools is your employees’ networks. Encourage your employees to share the posting across their social media channels, email, and beyond. Referral bounties can be great incentives for employees to get the word out.
Use these 5 tips, and you’ll see better applicants in no time. Happy posting!
With summer fast approaching, most people are buckling down and becoming increasingly focused……on their vacation plans! But how important is taking time off from work, really, for your employees? Do they feel they need it? Do most people even take all of their vacation days, and if so, which factors compel people to take days off?
In a recent survey conducted by OneWire, we asked our community of finance professionals to share their views on the importance of taking vacation as it pertains to their performance at work. While some answers seem par for the course, others may come as a surprise. When asked how many vacation days they took in their current or most recent jobs, 52 percent of respondents said they used only some of their vacation days; 31 percent claimed to use all of them, while 16 percent never took a single day.
Those who didn’t take all of their vacation days indicated a number of reasons for this decision, including 34 percent who expressed concern about falling too far behind on work. 18 percent did not take vacation because it’s too expensive, while 11 percent claimed to prefer to work rather than take a vacation! Other reasons ranged from company culture, to limited family vacation opportunities, to adjusting to a new job.
Still, 83 percent of respondents took at least some vacation days at their current or most recent employers, with 43 percent claiming time off made them feel rejuvenated and ready to dive back into work, and another 43 percent conceding that it made them feel a little less stressed, albeit temporarily. Meanwhile 14 percent of respondents believe that vacation time does not reduce stress and can sometimes add to it.
While most professionals seem to think taking time off has a positive effect on their stress levels and overall work productivity, not everyone feels it is a necessity. When considering a new job, only 44 percent of professionals believe vacation allowances are very important, versus 50 percent who believe vacation policies are only somewhat important—not a deal breaker. Six percent of respondents said it was not a factor at all when seeking a new job.
For many professionals, other factors seem to outweigh vacation allowance—in fact 48 percent wish their company let them exchange unused vacation days for a bonus. Still, 33 percent wish their company gave them more vacation days per year, and 18 percent wish companies required their employees to use all of their vacation days.
And which motives drive employees to take time off? Over 34 percent of respondents claimed they took their vacation days based primarily on the time of year, closely followed by 33 percent who said they took time off based on when it worked for friends and family. Another 18 percent answered that their vacation schedule was dependent on how busy it was at the office, and 12 percent claimed they took vacation just before they reached their breaking point at work. Only three percent planned their time off around vacation deals.
Based on these survey results, it’s clear that most finance professionals believe sufficient time off makes them better, more productive employees; however vacation allowances are typically not a deal breaker. Most employees will take a vacation if it makes sense based on timing for friends and family, but they would rather work harder and get paid more. Of course if your employees do go on vacation, rest assured that most will not forget about you—nearly 70 percent of professionals are connected to work at least by phone even while they are on vacation! So are you planning your getaway yet?
OneWire's Ask the Recruiter Blog Series: Tailoring Your Resume- How to Break into Private Equity, Hedge Funds, and Venture Capital
In OneWire's "Ask the Recruiter" blog series, Mary Gay Townsend, the Senior Managing Director of OneWire Managed Services, our executive recruiting team, addresses difficult job search questions that candidates most want answered. You can read the latest post below:
As an investment banking analyst or lateral hire preparing for the buy-side recruiting process, it is very important to be thoughtful about your resume. As you know, this is an incredibly competitive process with many similarly positioned candidates vying for limited spots at private equity, hedge funds and venture capital firms. In this post, I would like to give you some tips to help your resume stand out.
Your resume tells your story. View it as your opportunity to highlight why you should be in the slate of candidates selected for an initial interview. Recruiters are looking for candidates that have demonstrated consistently strong performance, interpersonal skills, intellectual agility, and a steady increase in responsibilities. I would suggest the following ways to highlight these attributes:
If you received a full time offer after your summer internship or were given the option to stay on as a third-year analyst, highlight this achievement. Even if you received the offer and then chose to move forward with a different company, make note of the offer because it shows that you were an integral part of your team as an intern. Also highlight if you were ranked as a top-tier analyst on your team. List all deals that you closed; the private equity firm to which you applied could have been part of the deal. If you were the sole analyst on a deal, list all responsibilities that you held throughout the transaction: modeling, client interface, etc.
Candidates should also highlight activities, internships or entrepreneurial endeavors that are relevant to their industry or position of interest. For example, if you are seeking to join an industry-focused private equity team, definitely include any related industry internships you held or companies you founded. This shows that you have a genuine passion for your sector and would bring a unique skill set to the team. I once worked with a candidate who was applying for a TMT pre-MBA Associate role. He had interned at a start-up media company prior to investment banking and initially decided to remove it from his resume, thinking non-banking experience was irrelevant. We encouraged him to include the internship as a way to demonstrate his long-standing industry interest and operating experience. The candidate scored the interview and our client said it was because his media experience stood out.
I would also include information about any related investing experience, whether it is a personal portfolio or involvement with a student investment club. If you are applying for a principal investing role, buy-side firms want to see demonstrated interest in investing. Be prepared to discuss picks you made and companies you have invested in; firms will want to understand the thought process and rationale behind your choices.
Candidates should also include relevant collegiate experience. If you were a part of any sports or Greek life, these activities will distinguish you as competitive, social, and a team player. These are qualities that are especially relevant at private equity firms, where relationship building and communication skills are important. Additionally, include one community service activity, but only if it is a genuine interest and something in which you are very involved. Limit irrelevant interests, such as poker. Also indicate if you graduated with honors. I would suggest including your GPA if it was 3.5 or above. While this may seem somewhat arbitrary, keep in mind that recruiters are looking for reasons to remove candidates from the process quickly, and a relatively low GPA is one expedient way for them to whittle down the pool. If your GPA is below 3.5, consider whether you are prepared to address any questions it might raise. Also include your SAT scores if they are competitive numbers. Language skills should be indicated if you are at a professional or conversational level, as they inform firms that you will be able to handle business dealings in another language.
Lastly, it is common practice for analysts to include only their work emails in their resumes. I would also recommend including your personal email address or cell phone so that you can stay in touch with the firm or recruiter over the long-term.
It goes without saying that anything on your resume is fair game in an interview, so be prepared to speak to every bullet in detail. Private equity firms, hedge funds, and VC’s, like many other companies, want to know how you differentiate yourself from hundreds of other candidates. Achievements, specializations, relevant interests, and competitive metrics help to make your resume stand out among the many others and maximize your chances of scoring an interview.
Best of luck!
Have a question for Mary Gay? Submit it to email@example.com!
For additional career advice, check out OneWire's exclusive, new interview video series, Open Door, in which influential executive leaders in finance share invaluable career advice for professionals at every stage of their careers.
OneWire is pleased to introduce our new blog series, “Ask the Recruiter”! In the series, Mary Gay Townsend, the Senior Managing Director of OneWire Managed Services, our executive recruiting team, addresses difficult job search questions that candidates most want answered. You can read the first post below:
Candidates, no matter which level they are at, spend a lot of time preparing for the interview. Unfortunately, they often do not execute the same serious preparation for their post-interview follow-up and sometimes sabotage the opportunity for themselves. The follow-up is just as crucial as the actual interview and the company will continue to evaluate you until a hire is made. Within my profession, I have found that there are common mistakes that candidates will make in the follow-up. In this post, I would like to provide some guidance about the proper post-interview thank you etiquette.
Following the interview, our clients expect a thank you within 24 hours. If possible, same day follow-up is ideal. The financial services industry works around the clock, so interviewers expect to receive a thank you in a timely fashion. This practice shows your appreciation for the time they have taken out of their busy schedules to meet with you. If interviewers do not receive this thank you note, candidates can quickly drop to the bottom of the list. In fact, I have worked with a few clients that would take candidates completely out of the process if they did not receive a thank you within 24 hours. It’s important to remember that hiring managers are always looking to reduce the list of candidates in their process.
When drafting the follow-up note, make sure the message is thoughtful and concise. Highlight your gratitude and interest in the position, show that you have done your research by drawing on information from the Web site, and circle back to a few topics of conversation during the interview. I once worked with a merchant bank that was considering four applicants: three senior candidates and one relatively junior candidate. The junior candidate was able to move ahead of the others in the process after he sent a thoughtful and sincere follow-up email detailing how he would build the business and addressing questions about his level of experience.
In both the interview and the follow-up, interviewers expect you to maintain a formal tone. Even if the recruiter is informal and uses casual language such as, “hey” and “yeah,” it is important to remain professional. You should not confuse a casual environment for an excuse to use casual language. You are still being evaluated. In one particular case, I worked with an asset management company that decided to pass on a candidate with a strong resume because he was informal and used phrases such as “yeah man.”
Additionally, some candidates will allude to having other job opportunities on the table. Keep in mind that there is a fine line between displaying a competitive advantage and arrogance. It is important to be truthful when asked if you are interviewing with other firms, but do not lead with this assertion in your follow-up and do not make it a major talking point in your message. I worked with an investment management firm deciding between two candidates. In his follow-up, the leading candidate over-emphasized his competitiveness and caused concern that if an offer was made to him, he would not accept. In the end, the other candidate received the offer.
Finally, I want to address the common inquiry of sending an e-mail follow-up versus sending a traditional letter through the mail. An e-mail is expected and allows you to remain prompt in your follow-up. Follow this with a hand written note only if you have a personal relationship with the interviewer. Otherwise it could be deemed excessive. If you do not receive a response to this message within two weeks, it is acceptable to send one additional follow-up note.
In conclusion, it’s vital to remember that the recruiting process is not over when the interview is. Candidates who continue to maintain a high level of professionalism all the way through the process often see the best results.
Best of luck!
Have a question for Mary Gay? Submit it to firstname.lastname@example.org!
OneWire's new video interview series, Open Door, was recently featured inThe New York Times - DealBook. The article introduces the series, which showcases top finance professionals offering career advice. It also announces the latest installment in the series, an interview with Tony James, President & COO of Blackstone Group. Watch the interview here!
OneWire CFO to Share Employment Trends Insights at Upcoming Chicago Booth School of Business Event
NEW YORK, N.Y. (February 25, 2013) –
WHO: Eric Stutzke, CFO of OneWire, the online destination for great finance jobs and exceptional finance talent
WHAT: Will participate as a panelist on employment trends during a two part event, “Employment Trends and Booth Online Career Resources,” that will include speeches and a panel discussion as well as an overview of online career resources.
WHEN: Thursday, March 7, 2013 at 6:30 p.m. – 8:45 p.m. ET
Panel and Q&A will take place Thursday, March 7, 2013 from 7:00 p.m. – 7:45 p.m. ET.
750 7th Avenue, 4th Floor
New York, N.Y.
Register online by March 4, 2013
DETAILS: This event, “Employment Trends and Booth Online Career Resources,” sponsored by the Chicago Booth Alumni Club of New York City, provides attendees the opportunity to network, learn about online career resources and get an inside look at the employment industry.
Guest speaker, Eric Stutzke, CFO of OneWire will join panelists Edith Hunt, Chief Diversity Officer and Advisory Director of the Human Capital Management Division at Goldman Sachs; Stephanie Heyer, Director of Recruiting on the Long Ridge Partners Marketing and Investor Relations Team; and Julie Morton, Associate Dean, Career Services, Chicago Booth School of Business for a discussion and question-and-answer session about current trends in employment. Drawing on the panel’s diverse backgrounds and career experience, Stutzke and the panel will explore subjects such as recruiting, training, and talent management.
Generating precise connections between finance professionals and leading employers, OneWire’s recruiting solutions span from self-service job postings, through comprehensive candidate search and match tools, to expert executive search. Job seekers create detailed, confidential profiles on OneWire that enable them to maintain full privacy and total control over their search. Employers post finance job openings, search the candidate community, and achieve unprecedented accuracy thanks to OneWire’s unique structured data and matching technology. Whether searching for a great finance job or exceptional finance talent, OneWire makes it easy to achieve your goals. Learn more at www.OneWire.com
# # #
Note to editors: Trademarks and registered trademarks referenced herein remain the property of their respective owners.
OneWire Founder and CEO, Skiddy von Stade, recently sat down with Business Insider to discuss the best places to work on Wall Street right now. While some of the bigger names are slow to hire and even reducing salaries, other firms are offering exciting environments and good compensation. Check out the full article, 16 Wall Street Firms Where Bankers and Traders Really Want To Work!
Upcoming OneWire Webinar - Driving an Enhanced Candidate Experience: Expectations across Generations and Industries
Driving an Enhanced Candidate Experience: Expectations across Generations and Industries
A Preview of Selected 2012 Candidate Experience Survey Data
OneWire and Talent Function Group Webinar
Wednesday, February 13, 2013
2:00 p.m. EST (1:00 p.m. CST / 12:00 p.m. MST / 11:00 a.m. PST)
How important is the individual candidate’s recruiting experience for employers? A benchmarking study conducted by the 2012 Candidate Experience Awards (known as the CandEs) found that more than half of the candidates surveyed are likely to share details of their candidate experiences – whether negative or positive – with friends. Even more notable, a growing and significant number of candidates are willing to share their experiences with a much broader audience using career sites, blogs, and social media such as Facebook and Twitter. This trend is especially true among the millennial population. Such a wide reach can quickly damage an organization’s employment brand, reputation and bottom line – especially in industries where your candidates are also potentially your customers.
Join us for an illustrative preview of 2012 CandE survey results to learn how candidate expectations vary across generations and industries, and what employers can do to streamline recruiting and screening processes, improve communication and accessibility, and leave a positive impression on candidates through all stages. Elaine Orler, president and founder of Talent Function Group, and chairman and co-founder of the Talent Board (founding organization of the CandEs), will explore how candidate expectations and employers’ recruiting goals and challenges intersect. She will detail the ways in which CandEs winners are raising the bar for candidate experience while protecting their employment and overall brands, and engaging the talent they need to succeed.
This complimentary webinar is hosted by OneWire, connecting top finance professionals with leading employers. Session attendees will also learn how OneWire, a 2012 CandE sponsor, delivers a positive candidate experience through precise employer connections, robust search tools, and candidate confidentiality features.
Register today to reserve your seat for this hour-long educational session.
President and founder of Talent Function Group
Chairman and co-founder of the Talent Board
Elaine Orler is president and founder of Talent Function Group and chairman of the Talent Board, founding organization of the Candidate Experience Awards. Orler has been involved in developing and implementing HR solutions since 1993. Well regarded as a leading industry expert, many companies have depended on her knowledge in talent management and recruitment strategy, process and technology to further their organizations. She has also worked with countless clients on dozens of global talent acquisition and management implementations to help them embrace new technologies aimed at improving internal processes and the candidate experience, a topic on which she’s regularly quoted in Wall Street Journal. Always tuned into the latest trends, Orler guides clients through many global talent acquisition and talent management technology developments, and has worked with both practitioners and solution providers to shape the way talent management and recruiting solutions are delivered. Orler is respected as a talent acquisition and talent management expert and she takes an active role in industry events and associations.
In the last few years, the typical career path for Wall Street professionals has been shifting. In a Business Insider article OneWire CEO, Skiddy von Stade, weighs in on what these changes mean for aspiring finance professionals. Read the article below:
The Standard Wall Street Career Path is Shifting under Everyone's Feet
Linette Lopez - Business Insider
So you want to become a Wall Street master of the universe? Forget almost everything you know about how the ride to the top is supposed to go.
The basics are still the same. Go to a target school, take the right classes, and land an exhausting summer internship at a bulge bracket bank.
But say you've done all that. In fact, say you've even gotten a job offer at that big Wall Street bank.
Five or six years ago the road was pretty clear — a few years as an analyst, some time as an associate (or maybe a dip into the buy-side), a stint at business school and then a leap into the buy-side or a long career at the Wall Street bank of your choosing.
Not so anymore.
Wall Street's career path has changed. Bulge bracket banks are concerned about finances, so they don't know what size analyst class they can sustain. Plus, there isn't always enough meaningful work for the analysts to take on because business is slow.
Naturally, that has lead young people to consider other options, specifically at mid-sized Wall Street firms like Evercore or Greenhill.
"People don't go to Wall Street with the attitude 'Hey I'm going to be working at this big investment bank for the rest of my life,' said Skiddy von Stade, CEO of Wall Street career matching firm, OneWire. "They go to work on financial modeling skills that they can take with them... whether they go to a tech company, a start-up, or the restaurant business."
At mid-sized firms, young people work more closely with their superiors and take on more sophisticated projects. That's a huge advantage in an industry that's getting smaller and smaller by the year. Talented graduates are starting to notice, and that helps mid-sized firms overall.
"They're (mid-sized firms) picking up prestige because even if the deal doesn't close you're still doing the analysis," one young private equity analyst told Business Insider. "All the work you do is M&A there's no time wasted on IPO's and investment grade debt process work."
So if you're a college senior who just got that offer from JP Morgan in, say, the healthcare group, you might want to check out your options at a smaller firm and see if you can join a group that isn't as niche. A more general group means a more diverse skill set.
So what does that mean for the Goldman Sachs of the world?
"Big investment banks... are going to have to create a much better environment for these kids with much more responsibility and more opportunity for growth," said von Stade. "These firms in the old days had a big bench of analysts putting together pitch books and doing mundane stuff. Today kids want to learn all sides of transactions and work on their modeling skills."
And that's just the beginning. The path doesn't get any more clear after a stint as an analyst. Buy-side jobs are hard to come by, and if you do find one, you may not want to jump ship for business school and lose your spot.
In fact, some young Wall Streeters are wondering if business school is worth it at all.
Bottom line: The Street has become even more competitive than it was before, and if you're not careful you can get stuck in a sector where there's little mobility.
Amidst all this added complication, though, there is good news, according to von Stade.
"In the old days people would say 'I've got to go to Wall Street because I want to make money,' but now people are being smart with the decisions they make in their careers and are going into industries that satisfy their intellectual curiosity."
A recent Business Insider article examines the effects of bonuses on turnover in the finance sector this month. The article features OneWire CEO, Skiddy von Stade, who discusses what talent firms are looking for in 2013. Click the following link to read the full article: "We Are in the Midst of a Secret Wall Street Hiring Shuffle."
Recent college graduates and students have been especially hard hit by the current mediocre state of the economy; 54% of this population is either unemployed or underemployed. Luckily, there seems to be a new path to take when trying to secure a job: the internship. In a recent Forbes article, Jacquelyn Smith, discusses a new survey which examines the transition rate of internships into full-time jobs in 2012. The study, carried out by Internships.com, from December 1st through December 4th, 2012, surveyed over 7,300 students and recent graduates, and more than 300 individuals within human resources.
The study found that in 2012, 69% of companies with 100 or more employees extended a full time job offer to their interns. In other words, approximately 7 in 10 interns were hired full-time! The internship allows employers to evaluate the intern beyond a simple job interview. It also gives students and recent grads the opportunity to try out a career.
The hiring forecast for interns appears to be even brighter for 2013. Of the companies surveyed, 53% plan to hire more interns in 2013 compared to 2012. Additionally, the number of internships offered is expected to grow: 36% more employers offered internships from 2011 to 2012 and an even greater growth percentage is predicted from 2012 to 2013. As a way of the future, 33% of companies hired virtual interns in 2012. From 2011 to 2012, this was a 20% increase. Virtual internships are giving students an opportunity to gain valuable work experience aside from just after class and summer vacation when it is extremely competitive to gain an internship slot.
Now is the time to look for an internship. It will give you the chance to decide if the career is right for you, gain valuable experience, and get a leg up on your peers in a competitive job market. Best of luck!
With the election over, all eyes now turn to the 2013 economic landscape, and many are wondering: Will hiring market improve? Will job growth remain sluggish, pick up, or continue to be stagnant? And, how can finance professionals position themselves to make the most of the evolving hiring market?
In the months leading up to the November election, many organizations held off on long-term planning—and in some cases hiring—believing that once national leadership was decided, they would have a clearer picture of the economic landscape ahead. With the country’s political parties sharply divided, it was largely assumed that determining Washington’s direction would allow employers to move forward strategically. However, in the aftermath of the election, it has become abundantly clear that a number of issues still need to be ironed out before companies get the answers they need. Washington is still entrenched in discussion over the looming fiscal cliff, and Hurricane Sandy may have made a sizeable impact on the national economy.
While we may not have the answers to the big economic questions, we are confident we can accurately sum up jobseeker sentiment directed to Washington in four words: fix the economy– now!
In an October OneWire survey of over 700 professionals in the finance industry, more than 81 percent of respondents indicated that job creation would be a primary factor in determining their vote for president. Compared to just 70 percent of active and passive finance talent that responded the same way last year, this increase highlights the growing importance of job creation leading up to the election, as well as the fact that significantly more individuals are concerned about the issue than last year.
Of those who indicated that job creation would be a main factor in determining their vote, nearly 70 percent responded that it was the single most important issue. Respondents also offered comments to explain their reasoning, with several offering that job creation is the backbone of the economic recovery and will spur future growth. One respondent asserted, “I strongly believe job creation is the key to getting a large part of the currently unemployed workforce back to work and…growing the economy through increased spending.”
While the November job numbers are promising, with 146,000 new jobs added during the month, pessimism about future job growth remains. One-quarter of survey respondents suggested they did not think either presidential candidate would a make difference in improving their job prospects. While a completed election may have been the first hurdle to combating economic uncertainty, there is clearly more work to be done before many employers feel comfortable investing in new talent.