Execunet

Online Reputation Management

by

One hundred percent (100%) of Chief Financial Officers 

and Senior Finance Executives have an online reputation to manage 

Not everyone loves statistics, but I do. There is something about having a factual basis for acting that resonates with my brain and propels me forward. So of course, as my Online ID re-certification course began, the stats had me saying WOW! My clients definitely need to know – from a facts and figures perspective – how critically important it is to manage your online reputation. Because whether or not you are proactively managing it, you do have one … even if that reputation is MIA.

Here are some of the stats that jumped out at me …

— … an executive can increase the amount of his or her compensation by increasing one statistic; the number of CEOs and decision-makers in a sector that are aware of the executive’s accomplishments. Howard Nestler, CEO of Executive Options

— 79% of US hiring managers and recruiters reviewed online information about job applicants. 70% rejected candidates based on what they found, with poor communication skills, lying, and sharing confidential company information among the reasons cited for rejection.

— Conversely, 18% of companies found social networking profiles as a positive influence because they offered a good feel for culture fit and added credibility to the candidates’ resumes / interview. I believe this number is only going to continue to grow.

— 76% of executives expect to be Googled yet 22% have never Googled their own name to see what companies and recruiters will find. 

— While there are no measurements on the influence of a CFO’s reputation, 87% of respondents to a Hill & Knowlton survey believe the CEO’s reputation is key to the company. I would venture to say the CFO’s reputation is equal or greater to that of the CEO, particularly during tough times.

— According to a Career Builder study last year, the top industries most likely to screen job candidates using social networking sites and search engines include those who handle sensitive information. 

Bottom Line: If you want to be among the hunted, you have to be able to be found.

(Sources: Reach Online ID Certification 2010, Microsoft 2009, Career Builder 2009, Execunet 2007)

CFOs as CEOs

by

After Business Times Online posted an article on the rise of CFOs into CEO positions, one of my Linked In colleagues, a recruiter who works with private equity clients, asked for my thoughts on the topic. 

In preparation for my keynote at the Prophix User Conference back in April I did extensive research on this topic. While the article points to the recession as the driver, my belief is that it is a trend not likely to abate once we hit the other side of the recession. So, here are my thoughts …

–Strategic Leaders vs. Bean Counters

I believe the opportunity arose about the time that CFOs began making the transition from bean counter to strategic leader with a seat at the executive table. The hottest CFO prospects today are those with the ability to predict financial trends and who bring an operational background (particularly when they also hold a CPA and and an MBA). From a career perspective, two of the smartest things a CFO can do today are gain operational experience and claim a seat at the executive table.

–Proven Operational Contributions

There is a difference between experience and contributions … and this is particularly true of a CFO with his sights set on a CEO position. In fact, as companies continue to tighten their belts, you may even see a decrease in the role of the Chief Operating Officer, since the accomplished operational CFO can handle both roles.

For example, the COO of oil and natural gas exploration and production company Anadarko Petroleum Corp. is being replaced by the CFO with much broader responsibilities that include overseeing the company’s exploration, development, production, and mid-stream and marketing operations.

Execunet points to the fact that 2 of the 8 most in demand job functions are operations management and finance.


–Networking

While many CFOs are not the best networkers, for whatever reasons, those who are reap great benefits. And the value of internal networking cannot be downplayed. Conventional wisdom says that it is easier to move up internally, than externally, in large part because you are “known and have momentum and sponsorship.” If you’ve grabbed your seat at the table, you have the power to ensure you are known and have the momentum to, perhaps, win that coveted leadership position.

What Difference Does 3% Make?

by

According to Peter Weddle, keynote speaker at the CMA annual conference last month, quite a bit. Robyn Greenspan, Editor-in-Chief at ExecuNet, offers this quote from Weddle in its most recent newsletter … 

While 2001 sparked a jobless recovery, the current recession is actually eliminating jobs. Where there were once 1.7 job seekers for every open position, now four candidates compete for the same role.

The advantage for job seekers lies in the 3% separating them from everyone else. Weddle asserts that we are all just 3% different from each other, and those who identify, strengthen and express that small portion can become the A-players who are in demand in any economy. "Find the 3% that makes you special, your best self.”

It may not be easy to find that 3% difference, but it is well worth the effort to do so. Unless and until you identify and clearly convey your branded marketable value proposition (MVP), you are playing in the very crowded field of commodity.

Who Is Hiring C-Level Candidates?

by

According to Mark Anderson, COO of Execunet, who appeared on Fox News October 16, C–level execs (CEO, COO, CFO) are MOST in demand in the areas of health care, energy, environmental products and services, medical devices, and biotech. Among the disciplines hardest hit are financial services, insurance, and retail.

Execunet Market Intelligence Report

by

Execunet has posted its annual Market Intelligence Report for executive job seekers. It’s always great information and you can download your *free copy at their site.


I found the following information interesting … and validating.  


–Job search stats: 41-50 years of age – 9 months; 51-60 years of age – 11.9 months


The search process is still a long one. Continually positioning yourself as a passive candidate will minimize, and can even eliminate, the “unemployed” stigma that can negatively impact marketability.


–The unpublished job market is not a myth with 86% of corporate recruiters and 61% of third party recruiters saying they do not routinely post $200,000+ positions


The “best-of-the-best” candidates do not spend the majority of their time on job boards and recruiters recognize that fact.


–Networking, including social networking, still accounts for 70% of executive opportunities


If you aren’t on Linked In, Facebook, Zoom Info, Ziggs, and Naymz, for starters, you won’t be found by the people who have the opportunities you want to know about. You can’t play the game if you aren’t in the game!


If your network is dead when you don’t need anything from them, it probably won’t be very productive when you do need their help.


— 86% of executive recruiters routinely scour online sources for candidate information … beyond the resume, with 7 out of 10 recruiters saying candidates’ prospects improve when positive information is found


A positive, visible online presence is a critical piece of proactively managing your career. The more consistent the available information, the more credibility you have and the more desirable you become.

Executive Talent Demand Expected to Increase

by

According to a new Execunet survey of 138 executive recruiters, and reported in The Fordyce Letter, 64% are confident or very confident the executive employment market will improve during the next six months, despite declining home values and soaring energy and food prices. Seventy-eight percent (78%) of recruiters expect at least a 10% increase in assignment growth for the rest of the year.

 

Dependency of a Newborn

by

I’ve been AWOL over the past weeks as I practiced and perfected my grandmothering skills with my very first grandbaby – a beautiful, healthy, and happy girl. It’s been great fun and absolutely exhausting! It feels good to be back to my old normal life again … and great to be connecting with my readers again.


One thing I noticed over the past few weeks is the similarity between the total dependency of a newborn and the employed (and even unemployed). Much like a newborn relies completely on her trusted adults for care and provision, MOST of working America depends on others for his job or next job. The company to retain them (corporate loyalty has been replaced by bottom line profits), a nice boss who likes them, recruiters to find them jobs (not the way they work), a network (if they have one) to find them a job when they are unemployed, and on and on. I’m finishing up an article on this … email me if you would like a copy when it’s completed.


Today’s Bizjournal says CEO confidence has dipped again in June, including confidence around employment. Execunet says demand for senior-level talent is likely to increase during the second half of 2008. I guess the truth lies somewhere in the middle.


Regardless of where the truth lies, being in control of your career rather than giving control to others, is key to landing the job you want at the salary you deserve. My question is … are you depending on someone else for your next career move or are you embracing the self-employed mindset with a clear strategy and plan for execution?

2008 Executive Job Market Intelligence Report

by

Execunet has released the findings from its 2008 Job Market Intelligence Report, with some very interesting results. According to the report,

––“Increasing demand in the High Tech, Healthcare, Energy, and Business Services sectors, combined with a shortage of qualified talent and sustained economic growth overseas, is driving better than expected job growth at the executive level.”

––“Thanks in part to an aging workforce and global economic growth, the demand for executive talent continues to increase while the threat of a recession looms.”

––“more than 70% of search firm and corporate human resource professionals believe there is a shortage of executive talent, and two-thirds (67%) say the war for executive talent has intensified over the last year amid increasing economic uncertainty.”

––“Nearly all (86%) corporate human resource executives and 61% of search firms report that they do not routinely post positions with a total compensation of $200,000 and above on public websites.”

––“Recruiters don’t deny that age can be an issue, but 71% of search consultants say their clients are less focused on age than they were in prior years; and 57% of corporate HR executives say that when over 50, the candidate’s age is not a negative factor in hiring decisions.”

And very telling is the quote from Execunet’s CEO and Founder, Dave Opton …

“Unfortunately, many of the opportunities created this year will remain out of reach to those who fail to read beyond the headlines,” ….  “However, given the current pace of change, the consequences of ignoring opportunities to enhance your network and failing to closely monitor the marketplace are clearly rising.”

Search Firms See Executive Hiring on the Rise

by

The results from Execunet’s most recent Executive Employee Report indicate that executive hiring is trending upward.

“According to the report, the Recruiter Confidence Index (RCI) increased in October for the second consecutive month, once again bucking August’s report in which the RCI fell as a result of the mortgage industry’s sub-prime lending crisis. An overwhelming majority (81 percent) of executive recruiters are expecting an increase in assigments over the next three months.”

If you haven’t seen it, the full article appears in Manage Smarter.

While on the surface this looks like great news for executive job seekers, if you read my article following the Kennedy Recruiting Conference from last week then you know that this is much better news for passive, top–talent than it is for unemployed executives.

If you are unemployed and looking, you must understand your marketability and clearly articulate your value … and get out of the job boards … in order to compete with the coveted passive candidates.

For senior–level executives, resume saturation in the public job boards can be career suicide.

Headhunter Secrets to Social Networking

by

Recruiter Bill Vick was shining in the CFO–Career–Forum this week. He offered a fast–paced and compelling argument for why you, Mr. Finance Executive, should leverage social networking as a key part of an overall branding strategy.

My favorite statement from Bill was this … “You are who Google says you are,” followed by “You are your brand.” And he’s right. And that trend is going to become even more important in the future.

According to Execunet’s "Dealing With Your Digital Dirt" report, the number of recruiters who use search engines to uncover information about candidate is up almost 10% over 2005 figures. Additionally, the number of recruiters who said they have eliminated a candidate because of information they found on the Internet is up 17% over that same time period.

Leveraging the power of Linked In was a big part of Bill’s social networking insight, and his tip at the end was worth the price of admission. I hope you caught it!

My long–time readers will recognize Bill’s philosphy as being one I have been preaching for quite awhile … having a visible online brand positions you as the clear and compelling choice and is a vital long–term career management strategy.