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5 Ways to Spot an Employable Unemployed Candidate

OneWire Press - Tue, 05/07/2013 - 18:55

As companies have undergone dramatic downsizing and restructuring in the past few years, many talented professionals have been laid off for reasons unrelated to their work performances.  Unfortunately, the reality is that it is often easier to hire a candidate who is currently employed than it is to risk hiring someone who has been out of the workforce.  However, this approach does not always ensure you have chosen the best candidate for the job.  Below are a few tips on how to spot an employable unemployed candidate:

Understand what precipitated the layoff.  Don’t dismiss an unemployed candidate before taking the time to review his or her resume and really understanding why he or she left their last job.  Maybe the candidate’s firm shut down unexpectedly, and you happen to be one of the first to know he or she is looking for work!

Look for transparency. Ambiguity on a resume never serves a candidate well.  Candidates who make a concerted effort to be clear and honest with their potential employers are worth a second look.

Find out how they’ve spent their time out of work.  Some unemployed candidates will pursue other professional development activities as a way to fill in their work experience gaps.  Candidates who have taken the initiative to independently consult, volunteer in their field of work, or even take classes are certainly worth considering.   

Look for an easily identifiable track record in prior roles.  Strong candidates usually have something to show for it in their previous roles.  A demonstrated history of success suggests that a candidate is employable, even if he or she does not currently hold a job.  For example, if you’re looking to hire a sales professional, look for achievements, such as revenue brought in or promotions received.

Get references. The most employable unemployed professionals often provide excellent references from their previous employers.  If a former senior-level colleague speaks highly of the candidate, it can go a long way.  These references may even be more relevant than those of an employed candidate, because an employed candidate’s references may be from earlier roles in his or her career—sometimes five or ten years prior.

Just because a candidate is unemployed doesn’t mean he or she isn’t employable.  Make sure you don’t miss out on great talent!  

MBA VS. CFA: Here's How To Decide Which One To Get

OneWire Press - Wed, 05/01/2013 - 20:40

There comes a time in a business professional's life when he or she must make a decision about how to advance their career.  For some that means deciding whether to head to Business School for a Masters in Business Administration, or to take the Chartered Financial Analyst exams — the CFA.  OneWire CEO, Skiddy von Stade, weighs in on the pros and cons of each.  Read the full article, "MBA VS. CFA: Here's How To Decide Which One To Get."

 

OneWire's New Ask the Recruiter Blog Series: Make Yourself More Marketable After Being Let Go

OneWire Press - Wed, 05/01/2013 - 19:45

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:

In today’s fluctuating economy, many professionals have been laid off for reasons unrelated to their performance.  But unfortunately, gaps in work experience are still among the first things a recruiter will look for when taking candidates out of the hiring process.  In their minds, a bad economy is no excuse for long stretches of unemployment.  What can a candidate do to address those gaps?  In this post, I would like to provide some tips on how to make yourself more marketable when you are in between jobs and how to approach your job search proactively and creatively.

The dos and don’ts for the unemployed are not always obvious.  For example, if you have been unemployed for a long time, I would not make working with executive recruiters your primary strategy.  There certainly can still be value in working with recruiting firms, and I’ve placed some stellar candidates who were unemployed at the time that I recruited them.  However, it’s important to remember that search firms are typically paid by clients and do not have the flexibility to show multiple unemployed candidates for a search.  A more fruitful strategy might be to hire a career coach, who can give you specific interview tips and advice on presentation or networking techniques. 

If you show a commitment to being active in the market, firms will be more forgiving of work experience gaps.  I once worked with a Chief Compliance Officer who, after being laid off, immediately partnered with several firms to provide his expertise and build relationships.  He found a new CCO position in only 3 months because of a relationship he developed while consulting.  His experience reminds us that working part-time can eventually become a full-time job. I would also recommend that you involve yourself in relevant activities within your community.  Volunteer to handle finances for your child’s school or offer to maintain the books for your church’s vestry.  Remaining engaged and providing your expertise will show companies that your skills remain relevant and marketable.

Candidates should also do everything they can to expand their networks.  Aside from volunteering, join organizations and groups relevant to your career, such as 85Broads or the New York Private Equity Network (NYPEN).  If your career was in real estate, go to relevant conferences or lectures to meet people.  It might even be helpful to take classes that can add to your professional experience.  The most important thing is to be proactive!  Don’t be afraid to reach out to your personal network and ask for help in your job search.  Send a thoughtful email to your rolodex explaining that you are in the market for a job and detailing what you bring to the table.  Often, an email can open doors to opportunities that are not posted either on websites or job boards.  You need to speak with people that have a vested interest in your success.

Resumes also require a unique approach when a candidate is between jobs.  Fill in your employment gaps by highlighting activities that demonstrate continued engagement in the market.  Include relevant volunteering/consulting work and detail your responsibilities as you would with a full-time role.  Keep it simple but accurate. You might also use a cover letter to highlight your current endeavors.  I also strongly recommend including professional references on resumes or in cover letters.  References further establish your credibility and can override the red flags that unemployment raises.  As an example, I recently worked with a private equity firm on a fundraising search, and they were on the fence with a candidate who had been out of a job for a while.  The candidate’s references, however, were outstanding and ultimately convinced the PE firm that the candidate was a catch despite of the fact that she was unemployed.  She got the job, and the references helped her cross the finish line.

Seeking a new opportunity while unemployed can be a stressful and exhausting process.  By using your time wisely and proactively developing your professional network, however, you can put yourself in a strong position to minimize the time between roles. 

Best of luck!  

Have a question for Mary Gay? Submit it to managedservices@onewire.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.

7 Traits Executive Leaders Look for in Top Talent

OneWire Press - Fri, 04/26/2013 - 20:47

We all know that hiring new talent can be a challenge.  Where do you find the best candidates? And how do you know whether they are a good fit for your company?  It’s important to identify which characteristics you and your organization care most about when hiring new employees.   In a recent interview series, prominent executive leaders shared what they believe are the most important traits to look for when hiring.  Here’s what they had to say:

1. Passion.

“I’m looking for passion for the business…They’re creative and have lots of ideas and bring lots of positive energy…I want ‘culture-carers,’ and people that are team-oriented; I want people that put the firm first…It’s never about them or their interests.” 
- Hamilton E. James, President & COO of Blackstone

2. Drive.

“…What difference does it make if a person is smart or not? The only difference in smart people is they're more fun to have around...Look at Warren Buffett. What a drive that man has!  Behind everyone who is successful, there is a drive.” 
- William T. Comfort, Former Chairman of Citigroup Venture Capital

3. Integrity.

“The number one thing for me is integrity and honesty.  I get leery of anything in a resume that leads me to believe I can’t trust the person, because we’re in the money business and we’re under tremendous regulatory scrutiny…So almost more than grades for me, I spend a lot of time interviewing the person and understanding what motivates them and have they shown an ability to have integrity.” 
- Alan W. Breed, CEO of Edgewood Management

4. Maturity.

“I’m looking for someone that acts a little beyond their years.  If I feel like this guy or this woman has something a little special, I’ll try to do certain things to unnerve them a little bit.  I might question some of their skills just to see how they react to it. And if they can react with an air of sort of hunger but humility and real tenacity, I find that kind of irresistible.” 
- James J. Dunne III, Co-Founder & Senior Managing Principal at Sandler O’Neill

5. The Firm First.

“The mindset that it’s not about you.  Whoever came up with that phrase…God bless them. And that you’re part of a team.  You want the institution to look good; you want the institution to be successful while you’re being personally successful.  And [you’ve] got to be all in it to get that result.” 
- Deborah C. Wright, President & CEO of Carver Bancorp

6. Skill.

“We’re looking for someone with obviously strong analytical skills, strong finance and accounting skills, modeling skills—at that junior level that’s an important part of the job...A real sense of initiative, the ability to work with others, and a high degree of integrity.”
- Ian K. Snow, CEO & Partner of Snow Phipps

7. Overcoming Challenges.

“I love dealing with people who have had some challenges and they’ve been able to drive through them and have success—whether it be in academics, whether it be athletics, whether it be some summer job, or in their careers, so I look a lot for that.”
- Ted Virtue, Founder & CEO of MidOcean Partners

So which characteristics are you looking for in new talent? 

Happy hiring!

 

5 Easy Ways to Maximize Your Job Posting

OneWire Press - Fri, 04/19/2013 - 21:46

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!

How Important is Taking Time Off, Really, for Your Employees?

OneWire Press - Fri, 04/19/2013 - 21:42

 

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

OneWire Press - Thu, 04/04/2013 - 19:44

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 managedservices@onewire.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's New Ask the Recruiter Blog Series: What is the Proper Post-Interview Thank You Etiquette?

OneWire Press - Thu, 03/14/2013 - 18:32

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 managedservices@onewire.com

OneWire's New Video Series "Open Door" Featured in The New York Times - DealBook

OneWire Press - Fri, 03/08/2013 - 19:26

OneWire's new video interview series, Open Door, was recently featured inThe New York Times - DealBookThe 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!

 

New Open Door Interview with Tony James, President & COO of Blackstone Group, Featured on Business Insider

OneWire Press - Fri, 03/08/2013 - 19:24

A recent Business Insider article announced the release of OneWire's newest Open Door interivew with Tony James, President & COO of Blackstone.  In it, Mr. James discusses his career trajectory and what he looks for in a candidate.  Watch the video here!

OneWire CFO to Share Employment Trends Insights at Upcoming Chicago Booth School of Business Event

OneWire Press - Mon, 02/25/2013 - 19:38

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. 

WHERE:

Morgan Stanley

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. 

About OneWire 

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.

Media Contacts:

Ali Schmidt-Fellner

OneWire 

646.786.0879

ali@onewire.com


 

16 Wall Street Firms Where Bankers and Traders Really Want To Work

OneWire Press - Mon, 02/11/2013 - 22:53

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!

The 3 Best Jobs in Finance

The Finance Whisperer - Fri, 02/01/2013 - 19:28
For those who have recently shied away from applying to finance related roles due the current fluctuating state of the economy and the constant threat of layoffs, there is a light at the end of the tunnel for three particular roles within finance: mortgages, accounting, and financial analysis. In a... OneWire

Upcoming OneWire Webinar - Driving an Enhanced Candidate Experience: Expectations across Generations and Industries

OneWire Press - Thu, 01/31/2013 - 19:40

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.

Elaine Orler
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.


 


 

The Standard Wall Street Career Path is Shifting under Everyone's Feet

OneWire Press - Mon, 01/14/2013 - 19:35

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.

Then what?

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."

 

Job Seekers, Rejuvenate your Search in the New Year

The Finance Whisperer - Fri, 01/11/2013 - 21:18
The New Year allows for a fresh start and whether you are currently unemployed or looking for a career change, a fresh start is a great opportunity to revive your job search. However, with 12.2 million Americans currently unemployed, the competition to get the job offer is fierce. In a... OneWire

We Are in the Midst of a Secret Wall Street Hiring Shuffle

OneWire Press - Tue, 01/08/2013 - 16:42

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."

Tips for Getting a New Job in 2013

The Finance Whisperer - Thu, 12/27/2012 - 16:47
The New Year brings new resolutions, and if you’re one of the many who has resolved to look for a new job, you’re not alone. According to TheLadders, January to March sees the biggest jump in job-seeking activity and in a new study by Right Management, they found that out... OneWire

Recent College Grads: the Best Way to Land a Job in 2013 May Be Through an Internship

OneWire Press - Mon, 12/17/2012 - 15:02

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!


 

Recent College Grads: the Best Way to Land a Job in 2013 May Be Through an Internship

The Finance Whisperer - Fri, 12/14/2012 - 21:01
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,... OneWire

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