Tag Archives: Wall Street Journal

Non-Compete Clause Heats Up Hiring

Non-CompeteAs the New Year has many people thinking of new employment opportunities, or a renewal to find work after a layoff, a recent Wall Street Journal article discussed how non-compete clauses and contracts/agreements are becoming more common in the job-hiring process.

Essentially, the non-compete clause requires that, upon termination, or if you quit the current job, you won’t work at a similar company or in a similar field for a certain amount of time (usually 1-2 years.) This could really tie your hands upon accepting a position, because, if you love the field of work you are in, it could be disastrous for your future, if things don’t work out.

Now, many of non-compete clauses are mainly for jobs that may have high security, or share sensitive information, that would be of value to the competition. The company you work for certainly want you to be happy in your position, but they have to protect themselves, also. They likely spent alot of money training you, and they don’t want you getting a few months in and finding better work. Double-edged sword, for certain!

Researchers at the University of Michigan released findings around non-compete contracts:

  • 12 percent of American workers have signed such contracts;
  • 28% of those were in engineering and computer fields;
  • 40% of those who signed read it quickly or not at all.

What might be more surprising is that 10% of those who signed were in non-traditional fields, like repair services or personal care.

So, make sure you add “Ask about non-compete contracts” to your list of questions when you sit down with the hiring manager.

Now, let’s go out there and do something good together!

 

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Throw away the catalog during your job search and interview…

A recent article in the Wall Street Journal discusses how General Motors is trying to get back on track after its government bailout. It tells of struggles internally about ways to reorganize the group and resistance from some of their managers.

A passage in the full-page article stood out to me. Joel Ewanick, GM marketing chief, recalled how when he assumed his new position at GM, he was handed a furniture catalog and a budget of $55,000 to furnish his new office.

Ewanick, unhappy with the selection and prices in the catalog, instead opted to buy his furniture locally from Target, Costco and IKEA. Total cost? Less than $5,000.

Wow! He spent less than 10 percent of his budget! What a concept! Breaking the corporate mold and figuring ways to save money! But GM bureaucrats said that the furniture wouldn’t last and gave the thumbs-down on the purchase, even after saving 90 percent of his approved budget.

Ewanick bought the furniture anyways.

So, is he a rebel? A troublemaker? Simply because he questions authority, that even though they did it one way for years and years, he comes in with another idea? I say he is a visionary, a forward thinker!

So, how do you tie this example into your job search and interview? Well, as I’ve discussed on this blog time and time again, you have to stand out from the competition. You have to go beyond a stellar cover letter and resume. I really dislike this phrase but you have to “think outside the box.”

In order to do that, here’s a few bullets of advice:

Point out an opportunity for improvement – In your cover letter, discuss an aspect of their website. Example: “I’ve been on your website and I notice that there isn’t a prominent way to search for stores in my community.”

Offer a suggestion – “A simple Mapquest link could help customers find you even better and drive traffic and sales to your walk-in locations.”

Make the close –  “This free application, which is easy to load online, is something I would be happy to discuss with you.”

Shine at the interview – Prepare a simple handout, expanding on the example from your cover letter.

Just like GM’s Joel Ewanick, there is no harm in offering a suggestion to do something better.

Now, I’m certainly not telling you to nitpick and tear apart the company’s website or corporate image (see past blog, here.) And, yes, you may give away something to them that they might just do themselves.

But by showing that you took the time to do a little bit of homework, can help your image and set you apart from the competition.

Now, let’s go out there and do something good!

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Don’t pull a “Rudy” – keep your information and resume real!

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I really enjoy the movie “Rudy”, a story of a scappy, young kid who would do anything to play for the fabled Notre Dame football team. Based on the true story of Daniel Ruettiger, its inspiring message, of stopping at nothing to realize your dream, is a great motivator for me. It speaks volumes of how hard work and dedication can help you go far!

“Rudy” Ruettiger did work hard and earned a walk-on role at Notre Dame. He achieved his dream. However, fast forward a few decades and things have gotten difficult for Rudy.

The Wall Street Journal reported today (12/17/11) that Ruettiger, who sold a sports drink called (what else?) “Rudy” was charged in a pump-and-dump stock scheme that generated more than $11million in allegedly illicit profits for the company “Rudy Nutrition.”

Part of the article states that “a letter to potential investors falsely claimed that in ‘a major southwest test, Rudy outsold Gatorade 2 to 1.’” A representative from the Securities and Exchange Commission called the above statement “tall tales” that ultimately caused the company stock from trading 720 shares a day to more than 3 million shares! In the end, Rudy and investors have to pay a large sum of money to settle the SEC charges.

Okay, here’s the tie-in to your job search. I can’t stress enough that you should never embellish your resume, be it volunteer work, work history, statistics, accomplishments or other key information. It will only come back to haunt you, if the human resources department or headhunter takes a deep dive into your information.

You should be proud of your work history and, if there are gaps, due to layoffs and/or firings, you should be ready to explain them. In the meantime, if you are looking at long gaps, it is time to volunteer in your community. Church, school, government office, non-profit, as the economy starts to warm up, companies will need helpers.

So, don’t pull a “Rudy” – don’t embellish on your accomplishments. It can end up costing you in the end!

Now, let’s go out there and do something good together!

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Marketing director re-invents job search, tapping into networking, volunteering opps!

The Wall Street Journal recently had a feature “Slow Recovery Feels like Recession,” where they profiled individuals and the way they are adapting to the downturn in the economy.

One story on a former marketing director from Verizon, laid-off during the recession, really illustrated how individuals need to get out from the computer and the same old routine, to stand out from the pack and get work.

Terry Sullivan had the credentials: overseeing a $105 million annual budget and more than 1,000 employees, but six months into his job search he said “my resumes were falling into a sinkhole.”  So what did he do?

1. Began attending a local support group for job seekers (networking opportunities, moral support!)
2. Started setting up events for his local chapter of the American Marketing Association (volunteering, staying busy, building portfolio while laid-off)
3. Attended outside events (networking)
4. After one particular event, approached speaker, which resulted in a consulting gig (networking and temp. job)

A great example of getting out there and beating your own drum. It is up to you to make yourself visible, show you have the experience to do what it takes to get back to work. Sullivan volunteered, networked, built his portfolio and networked his way to temp work, which hopefully will lead to full-time work!

I’ve always said that networking is the most important tool in your unemployment toolbox. When I was laid off in 2008-09, I had to force myself some days to get out there, volunteer, make calls, do lunches and just ask for help in learning about job leads. I volunteered to oversee the new newsletter format/layout for the Detroit River International Wildlife Refuge, I volunteed for a grassroots group marketing my hometown of Grosse Ile, Michigan and just told people of my need to get back to work. But it had to be done!

You can do it, too! Now, let’s get out there and do something good!

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So, how are you going to sell your cheese?

Okay, the headline is a sort of play off of that mega-hot million seller “Who Moved My Cheese” (please don’t sue me, Spencer Johnson – no relation, mind you!) But, I just read a great story in the Wall Street Journal today (6/8/10) “A Lawyer’s Life Turns to Cheese”, that can apply to networking for a job or any other sort of inter-personal task that you need to undertake.

The gist of the WSJ story is that this lawyer, who worked 17 years at his craft, looked around a room of senior lawyers one day and realized he didn’t want to work his whole life just to get where they were. So, he quit and started working on making cheese on his farm. Tres cool!

But here comes the great conclusion to the story that hit me, not only as describing how he sold his cheese, but how we need to reach out, in person, when it comes to networking.

EXCERPT:

Mr. Putnam began driving to local specialty shops with samples and approaching high-end restaurants and markets in Boston and New York. Their first customer was the chef at the Ritz Carlton in Boston.

“I learned very early on that you can talk on the phone as much as you want,” he says. “But until people see and taste the cheese, you might as well be blowing smoke.”

Without any advertising or marketing, the Putnams sold their entire first batch of 160 lbs. and the cheese company became profitable by 2003.

Now, let’s break down the bolded excerpt into sections for translation….

“I learned very early on that you can talk on the phone as much as you want,” he says. “But until people see and taste the cheese, you might as well be blowing smoke.”

TRANSLATED INTO NETWORKING TERMS: You can network as much as you want via social media or on the phone, but until you get face-to-face with a contact, and let them see what and who you are, you are just another distant, anonymous voice in a sea of babble.

Without any advertising or marketing, the Putnams sold their entire first batch of 160 lbs. and the cheese company became profitable by 2003.

TRANSLATED INTO NETWORKING TERMS: It doesn’t cost you anything to get out and network (ok beyond some nice clothes, transportation costs and parking). With a little hard work, determination and a case or two of the nerves, you can sell your own entire batch (skills, job qualifications) and become profitable (land that job or other networking opportunity)

Bottom line: How are you going to show off your “cheese” to a particular contact that you want to reach out to? Can you go beyond blowing smoke and get in front of that influential individual? Will you be able to make that first step? Networking, whether you are looking for a job or simply to improve your contacts, is essential. Remember, unless people can see and experience you first-hand, you are putting yourself at a great disadvantage.

Now, let’s get that wheel of cheese rolling, get out there and do something good!

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Employers aggressively tap online social media (WSJ – 6/1/10)

Read an interesting article in today’s Wall Street Journal (Managing your Career – Greasing the Inside Track to a Job – page D4, 6/1/10) where some very cool social media info was listed. Great examples as to how it is of the utmost importance to make social media work for you, whether you are unemployed, looking for a new job, or a promotion from within…

The article reads in part:

Other employers aggressively tap online media. Internal recruiters connect with workers’ LinkedIn accounts so they can pinpoint promisign contacts and arrange introductions…A special new tool lets workers at Concur Technologies Inc. in Redmond, Wash., list openings immediately on their LinkedIn, Facebook and Twitter accounts.”

Further, “Employee referrals through social networking have changed the hiring game,” says Shelly Holt…

The article further discusses how LinkedIn offer several ways to forge inside ties and has roughly 500,000 specialized groups that can be mined for connections.

Great examples of how you can harness social media in your continued job search!

Here’s the entire article – required reading!

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