What To Know About Group Benefit Plans

This week, I invited Carol Guerieri of Policyowner Advisory, Inc. in NYC to be my guest blogger.  Carol is a pro at insurance review, planning and analysis.  Having been in the industry for over 20 years, she has seen virtually every scenario possible and can help you to protect yourself and those you love not only in bad times, but in good times.  I’ve asked Carol to share some insights on how to handle insurance coverage when your career may be in flux, and whose isn’t these days?

According to our insurance guru Carol, there are valuable need-to-know aspects of a benefits plan whether you are:

  -         Currently employed

  -         Suddenly unemployed

  -         Have been unemployed for a period of time

  -         An employer

              -         Faced with having to lay off employees

Group disability and life insurance policies are extremely valuable employer-offered group benefits.  Group disability is generally discounted and the life insurance is often free and offered at 1-1/2 times your salary.  What makes these benefits so valuable?  You can take them with you should you leave your firm voluntarily or if you are laid off.  Why is it important to consider taking the policies with you?  Because you may be unable to obtain the insurance as an individual because you are uninsurable, or you have a health problem that you were unaware of that would result in very expensive premiums.  In addition, you may not qualify for disability income insurance because you are unemployed, or for life insurance because you do not have the means to pay. (Most insurers require that you that you have a source of income in order to obtain a life insurance policy.)

One of the media financial gurus writes that you should get your ‘own’ coverage whether or not you are laid off.  I agree, and let me go one step further. Individuals who require protection for themselves and their loved ones should have individual coverage along with their company-sponsored plans.  Yet, the truth is that many people don’t go this extra step and obtain personal individual insurance.  If you find yourself in this situation, do NOT allow your company sponsored group insurance to lapse.  Most company-sponsored group insurance policies can be converted.  Go to your Human Resource Department and get the details whether you are leaving the firm, staying with the firm, or moving onto another position.  Learn all you can about the benefits offered by the organization.  Lapse, discontinue or cancel your converted individual insurance policy only after you have received an offer of insurance and have purchased a policy that is suitable to your needs, in your best interests, at the right cost, and with the appropriate insurance carrier.

Important Note on Health Insurance: Recent COBRA changes under The American Recovery Reinvestment Act of 2009 (signed into law on February 17, 2009 by President Obama) are of particular interest to those recently unemployed, as well as to those employers who are required to offer COBRA coverage. This particular line of insurance really requires a blog posting all its own. Hopefully Karen will invite me to guest blog again. Until then, please post your comments and your questions.

Don’t Hide During the Recession

How’s the view from under your desk these days? I know who you are!! Get out from under the desk. Yes, there is another recession and you’re nervous about keeping your job, yet hiding is not going to help you.  Actually, it’s the worst thing that you can do. If your company doesn’t want you, can’t afford to have you -- they will find you no matter where you are. The better strategy is to make yourself a valued player and decrease the odds that you will finally be listening to recruiters when they call.

 

Five years ago in the midst of the last recession, I observed three kinds of employees:

1.          Those unconscious to the job market because their company was recession- proof (oh, to be so fortunate!)

2.         Those who listened and stayed alert, and kept their eyes focused forward.

3.         Those who did what they were told or what they should do … and then hid.  

 

As companies lay off more and more employees to save costs, here are a few basic suggestions about behaviors you should adopt during a down economy.

 

1. Go to work with your best game everyday.  Don’t regress to your intern days and fetch the office coffee or act like “Erkyl” and shout  “Pick me! Pick me!”  Instead, use  phrases like, “That sounds like a great idea.  I’d love to explore it” or “I can handle that.  Let me get going with it and see what happens.” With all the recent downsizing, most companies are a few hands short. Offer suggestions and pose questions to problems that could introduce new thinking Volunteer - it shows leadership potential and commitment.

 

 2. Offer to plan a gathering for your department, but don’t turn it into a pity party.  A small get together can help everyone to stay positive, and it will highlight your leadership qualities. Attend company events, even the ones you would usually blow off.  Visibility is crucial right now. Let people see you and know you are still alive …as well as active, involved, and committed.

 

3.  Don’t get sucked into the toxic water cooler yap.  Keep a positive attitude by staying out of the rumor mill.  While it is always best to avoid it, now is certainly the time to stay neutral.  Be aware of what is going on, but don’t flame the fires of anxiety. In fact, what you should do is become an agent of positive change. Help others accept uncertainty and set an example by embracing change when is comes your way (e.g., different position or added responsibility with no salary increase – as hard as that may be to swallow).  If change equates to staying in the company, then roll with it.

 

4. Add value by researching competitors or industry trends. Never underestimate the value of market intelligence. Know what others in your industry are doing so that your company can keep pace or plan appropriate strategies. Keep innovation alive and breathing. A little bit of intelligence goes a long way in demonstrating interest to your employer.

 

5. Empathize with your boss; his/ her job is tough too. Pressure from senior management and looming layoffs coupled with responsibility for staff can be overwhelming. Let your boss know you understand and treat him or her with the same concern you would like extended to you

 

6. Get certified. If your job is a little slow right now, use this opportunity to learn new skills so that you can be offered more responsibility and increase your value to the company. On a personal note, do some nice things for yourself at this time - pressure is on and it’s important to take care of you.

 

If you are feeling like it is tough to get out of bed – forget about it…ask for the extra shot of espresso and get up, get out and get noticed. Please feel free to post your comments about other ways employees can draw positive attention.

 

 

Good Resumes in Bad Times

In this economy, I wanted to reach out to candidates and give the do’s and don’ts of writing not just a good, but an EFFECTIVE RESUME. I asked my very opinionated team of K. Russo Associates executive recruiters to write down all the things that we as recruiters (and therefore Human Resource managers) find helpful and annoying when reading over a resume.

 

The Top DO’s for Good Resume Writing

·        Use a clean and simple font; stay away from anything cursive or hard to read.

·        “Let there be light!” Shorten the bullets, edit, edit, edit. If the resume looks as dense as your college thesis then there’s too much. 

·        Bullets are action in of themselves so start each with “action” words. (e.g., led, collaborated, managed, directed).

·        “Black is beautiful.” Use black ink. Not everyone has a color printer and your info will fade into the sunset when your resume is printed.

·        Be your own narrator. The “I’s” don’t have it – no first or third person.

·        If you have 30 years of experience, you should have more than a 1-page resume, but NO ONE’s resume should run more than 2.5 pages.

·        Use a format that you can easily adapt. You might need to highlight certain experience for a particular job, so select a format that lends itself to variations.

·        Clear “track changes” before hitting send or attach.

·        Make every position unique. It’s lazy and uninspired to use the same job description/responsibilities under two different jobs.

·        Make sure EVERYTHING that you send has your contact info on it – cover letter, resume, follow-up letter, email, response to a job board posting.

 

DON’T Let This Be YOU! The DON’Ts of Resume Writing

·        NEVER, EVER LIE! Keep your dates of employment, titles, job duties REAL. Stretching the truth can kill a deal!

·        Lose the inappropriate email name.  Hiring managers are looking for someone who wants to be treated like a professional, not bootyman or shoppersue.  Same goes for nicknames UNLESS that is how your are referred to in the industry (James/Jim; Richard/Rick; Elizabeth/Liz)

·        Check, recheck, and have someone check again for typos.  Don’t depend on Spell Check; it doesn’t catch missing or misused words. (I think of the girl who wrote candy “stripper” instead of candy “striper” on her college essay.)

·        Don’t send a resume as a PDF or in password-protected document -- a recruiter will not be able to open it.  Stick to Microsoft Word (but stay away from .docx version).

·        Don't put your high school on your resume. Nobody cares what high school you went to.

·        Don’t say that you are "pursuing degree" if it’s been 15 years since your last course. If too many years have elapsed, colleges will no longer honor the credits.  At some point you cross over from “in progress” to drop-out.

·        Avoid using dated and worn out words and phrases like "spearheaded." Action verbs can pack a punch but don't overstate your involvement or your level of authority.

·    Avoid acronyms that no one outside your company will understand.  Spell out the name of the committee, association, degree, etc.

 

What to DO When You Get the Call

·        When working with recruiters, it's important to be real-time responsive, especially in this market.

·        When you get called for an interview, don't think that you should wait 24 hours to return the call. Return that call ASAP- it could mean the difference between you getting the interview or the next person.

·        Call immediately after your interview so your recruiter can get in there, obtain feedback, and advocate for you. Remember time kills deals.

·        Be flexible - don't hem and haw about when you can go on an interview. Make interviews your priority and be willing to modify your plans.

·        Feel your best, look your best. No one was ever disqualified for wearing a tasteful, clean and stylish suit to an interview. Dispense with the bulky backpacks, dry cleaning that you just picked up, and the sneakers you commute in. 

If your resume is more don’t than do, than it’s time for a do-over… or else consider investing in a professionally written resume from somewhere like www.blueskyresumes.com/ or check out reference materials (we like Carolyn Thompson’s book “10 East Steps to a Perfect Resume” available at www.carolynthompson.net) or contact us at solutions@krussoassociates.com and we can send you a list of resume writers. This is all time and money well spent to get the call from a recruiter or a face-to-face with a Human Resources manager…which is what I want for you. I will continue to give more tips for candidates and I welcome yours. DO feel free to post your comments.

Finding Your Next Job after a Layoff

In my last blog, I wrote about how companies can manage through the flood of resumes that are hitting them. If it is difficult for corporate Human Resources right now, it is devastating for those looking for a job. As bleak as the picture is, there are companies that still need to fill crucial positions. So how do you become a candidate, let alone get the job?

Your Resume
Show how you added value. Include quantified performance metrics – increased sales, saved money, trimmed expenses, increased retention. This is no time for generalities.
Highlight special project assignments. Special projects shout, “Handpicked for responsibilities outside my regular realm!” It shows that you can influence others (which is a critical competency), present ideas to senior management, and work in an evolving organization. It shows you can be a facilitator of change…industries are constantly changing, you need to show that you can too.
Fresh language is a must. Some people haven’t put together a resume in 15 years, and it shows. Instead of the canned “to develop creative solutions” (everyone from a chef to a hedge fund manager can use this phrasing), make sure your resume shows you are experienced with new millennium techniques and tools. If you aren’t, then now is the time to Learn, Read, Inquire, Do. www.blueskyresumes.com is a terrific site for viewing sample resumes and for getting expert guidance on putting together an effective resume.

Networking
GO! to networking functions and association meetings. Aside from learning, they provide the opportunity to make an in-person contact. If your last job was in an industry that has been decimated (oh, let’s say finance), think about parallel industries where you can apply your skills. Strategies for expanding your contact base and resources can be found at www.layoffsurvivalguide.com.
GO! online. Get yourself on social networking sites like LinkedIn and Facebook. Any potential contact and any recruiter who wants to make it in the new millennium, is using these sites, so should you.

Utilizing Contacts
Should you leverage a contact? If you cannot be absolutely 100% sure you are going to get a really strong recommendation with solid work-related experience to back it up, hold back.
If you are interviewed, but the company declines to go the next step with you, do not -- I say DO NOT -- go around HR to your contact. As painful as it may seem (and I know it is painful), you will alienate the HR person -- someone who may consider you for another position at a later time -- and kill any future chance to get into the company.
You CAN use a strong contact before being interviewed or to get an interview or after you receive positive feedback from an interview.
Have a positive attitude. This is the hardest, but you must. You must.

I know it is tough out there… I’m living through this crummy economy too. 2009 is a new year and I am optimistic that it will be a better one. I will continue to give more tips for candidates and I welcome yours. Please feel free to post your comments.

Surviving the Resume Flood

The landscape for employment opportunities took a huge turn this year. Our office, like so many other executive recruiting firms, is being flooded with emails, resumes, and recurrent phone calls on a daily basis. You can imagine the deluge that is happening in the Human Resources offices of the attractive (and let’s be honest, even the not-so-attractive) corporations.

For some this is undoubtedly a painful time of transition. Sadly, many will need to revisit their expectations, including their compensation packages. In this pool, there are many who coasted along for years in their jobs. But companies can no longer afford the middling, the unimaginative, and the uninspiring.

Into the maelstrom were also thrown some very talented, dynamic executives. They were let go through no fault of their own other than being the object of across-the-board cost-cutting. Finding a new position will be challenging, but not impossible for these candidates. If you’re an HR manager, how do you find this needle in the haystack, the diamond, the potential rockstar? How do you select in a sea of ‘pick me’s’?

Start with state-of-the-art tools and know how to use them effectively. You also need a keen ability to spot talent when it comes floating across your desk. I’m no clairvoyant, but I do have over 20 years in the recruiting industry so I’ve become really good at sniffing out the B.S. (and I’m not talking college degree) from the real deal. As a headhuntress, when it comes to the hunt, I need to be merciless. I ask probing questions, demand realistic self-assessment and hand out blunt honesty. I do what HR managers wish they could do without jeopardizing the relationship with a potential “find.” I can take on the role of bad cop to my client’s good cop, without risking the company’s employee branding. (But I won’t lie or compromise anything told in confidence.) I leave the HR manager to present the company in the best light possible and only deal with candidates who have passed rigorous screening. I want my clients to be the hero. And I want the really good guy and gal candidates -- the smart cookies, the top talent to land on their feet.

Thinking outside the 9-5 box can also help. This can be an opportune time for candidates and clients to go for a test run; in other words, contract positions. While contract jobs do not come with benefits, which can be a huge dealbreaker for some, many times it is the first step toward a permanent position. A client who may not have the budget for a full-time hire, may be able to justify a project using a contractor. I have great stories about people we have placed this way with phenomenal results.

Don’t get swept under. Develop a strategy that doesn’t just have you surviving the flood, but uses this time to catch talent who under other circumstances may have passed you by.
Want to share your thoughts about how you are dealing with the resume flood? Please feel free to post your comments.

What Happens in Vegas – Exposed

A Recruiter’s Tale of Appearances

So it was off to Vegas for a conference. The town was a let down, not the glitz and glamour I was expecting. Let’s start with the hotel (a term I use very generously). It was more like the setting for a CSI installment – I was waiting for a dead body to surface in my room at any moment. I thought I’d see high rollers and fashionable celebrities like in a James Bond movie; instead I am haunted by thoughts of dim hallways, sketchy carpeting, and views only a HVAC expert would enjoy.

What would Vegas be like without the night life? To me, it seemed more like the low life: future “Jerry Springer” guests, cocktails at 7am, prostitutes (female, male, and those who just look like they’re for sale), and pool parties that resemble 80’s porno flicks. Look, I am no prude, but if Vegas is supposed to be about fantastical appearances, then my flight landed in the wrong place.

The Fordyce Forum, on the other hand, went beyond my expectations. Fordyce brings together some of the top recruiters in the country to share their knowledge, and this year research was a hot, hot, hot topic. Lucky for me (this is Vegas after all), it was my first opportunity to present my newest business venture, IIPE, an international candidate research and name generation firm. Everyone who I respect in the executive recruitment field acknowledges that good list generation and sourcing is essential, but it’s not exciting or sexy. The more interesting part for recruiters is building relationships and closing deals.

I spoke on the “Pinnacle Perspectives Live!” panel with my esteemed peers from the Pinnacle Society and brought my usual outspoken attitude. Talk about appearances. The rumor about research is that it is dull, dull, dull. Face it, a lot of researchers are behind a computer for a reason, yet when you are passionate about something, as we are about research, you need to let it show. People gravitate toward enthusiasm; they responded to the energy within my team. The IIPE booth was a huge success and we brought in five clients within the week. Jackpot!

But it wasn’t just about appearances. In business, like in Vegas, the harsh light of morning reveals things to be as they truly are. If there is no substance to back up a promise, the attraction fizzles. I back up IIPE’s value statement. We don’t outsource to people who are disconnected to our mission or regard their work as an isolated task. We employ researchers who can discern variations in titles and organizational charts and can scrutinize the process. We value researchers for their ability to be aware of connections and alert to opportunities.

I took a big risk when I launched IIPE – see my interview on recruitingblogs.com. I saw a trend and unbundled services when others warned against it. Appearances count – yes. But it’s finding something with value underneath that makes for lasting attraction.

Streaming Video by Ustream.TV

Want to share your thoughts about trends in executive research? Please feel free to post your comments.

Anniversaries and Millennials

This past week my parents set off for a two-week cruise to celebrate their 50th wedding anniversary. To say that I am in awe of their commitment and devotion to one another is an understatement. These days, it is a real magic act to find someone who can commit to a long weekend, let alone five decades.

It makes me think about what it takes to build any lasting relationship, whether bound by love, friendship, or work. I look at two of my more recent hires, both recent college graduates -- commonly referred to as “millennials” -- could I expect them to be around at the end of 2008, let alone 2028?

“They” say millennials approach the workplace with a sense of entitlement. What I am experiencing along with many of my clients is that millennials are willing to put skin in the game and work hard. (By the way who the hell are “they”?) In contrast, I can think of plenty of 20-year veteran managers who are absolute prima donnas. Millennials have definite expectations of their employers and honesty ranks at the top of their list. (It’s also been a huge factor in my parent’s marriage.)Being honest isn’t always easy – phrasing can be crucial -- but in the long run it builds respect and trust.

Companies need to take out the guesswork and place a priority on communications. Be truthful about a job position, about expectations, about opportunities for growth if you want commitment. As a generation that has grown up with instant communications, the web, and media outlets like TMZ, millennials are exposed to the fallout from dishonesty and deception. They are the most politically, socially, and environmental aware generation of any I have worked with.

Millennials expect flexibility and opportunities to be empowered. Sounds like entrepreneurship? Think more intrapreneurship. Companies like 3M, Intel, and Proctor & Gamble recognize the value of being open to new ideas and encouraging their employees to create their own space. Millennials are not afraid of taking a risk and they know it takes more than one person working in isolation to make a difference. Through social networking, instant communications (again!), and witnessing the rewards for innovative thinking, millennials are a generation of “we-we” rather than “me-me.” And that not being afraid part – well, unlike their parents, they are not afraid to make a career move if their needs are not being met. For those that display competencies such as leadership, creativity and team building – the lure of intrapreneurship can be very compelling.

Fifty years is a long time, and way beyond what anyone should expect or actually even want from an employee. (From a spouse, maybe.) I look forward to the future and how my millennial hires will help me grow my business. We’ll take each anniversary one year at a time and watch them add up. Want to share your thoughts about millennials and intrapreneurship? Please feel free to post your comments.