Tag Archives: unemployed

The Debt Burden

Posted on June 18, 2016 | Leave a comment

Student Debt
“The most important loan to pay is your student loan. It’s more important than your mortgage, car and credit card payments. You cannot discharge student loan debt in the majority of cases.” Suze Orman

I am not sure what the number is for this graduating class but a CNN report from 2013 said that the average amount of student debt for graduating seniors at that time was $35,200. That’s the average for college related debt and I don’t think that includes their car payment or what they have run up on credit cards for non-college related activities. And this is just an average. There are some students graduating with debt in the $100k range. This is a national crisis and why it is so important to find a way to start paying this down immediately after graduation.

That same article said that 92% of those debt laden students planned to pay off their debt with earnings from their jobs. That makes sense but it takes for granted you have a job. The sad reality is most college students will exit college with a heavy debt burden and an uncertain path to a decent job. So much for framing the problem ….. what’s the solution?

In marketing they say it doesn’t matter how good your product is if no one knows about it. It’s the same for you. It doesn’t matter what gifts, skills, experience and potential you have if you are not getting in front of the people who make hiring decisions. Yes, perfect your resume. But you still need to get you and your resume in front of someone. This is where your creativity and persistence come into play. In my next post we are going to talk about the referral process and how you can create a network that will work for you in finding a job.

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To Be or Not to Be?

Posted on May 17, 2016 | Leave a comment

“Success doesn’t come to you, you go to it.” –Marva Collins
Another recent article reported that the number of temporary employees was surging at the same time as the overall economy was seeing a slowdown in employment. What the article went on to state is that employers, especially the small to mid sized employers, were resorting to part timers and temps. And why would that be? I am not going to debate the pros and cons, but it might have something to do with The Affordable Care Act and its requirement that employers with more than 50 employees must offer health insurance or pay a penalty. Regardless, this is the reality and you need to deal with it.

So, what is the answer? Why not embrace this reality. It would be great to get that ideal job with a great salary and full benefits but sometimes we need to do other things until this happens. If you can’t wait for that ideal job, take a temporary job.

“What”? You say, “I can’t do that”!

Think about it. This is not in lieu of finding that ideal job. Taking a temporary job is sometimes a route to a full time job. And you can get paid doing it. Again, I’m not suggesting this as a long term gig. In fact there is a whole temp to perm movement. The advantages to employers are that they get to “test drive” employees before they make a long term commitment. And even if this temp job doesn’t result in a full time permanent position with a company you:

Gain work experience.
Meet people that can give your work references.
Use this time to build your network.

The bottom line is that it may be easier to get a job going this temporary route and once on board you can work toward permanent employment or use this job as a platform to get another job. Remember, an employer feels more comfortable hiring someone that already has a job.

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Off to the races.

Posted on April 30, 2016 | Leave a comment

The Bear“The race is not always to the swift, nor the battle to the strong, but that’s how the smart money bets.”
Damon Runyon

I am using this quote to make a point. You are in a race. Very soon nearly two million potential workers will be turned loose into a very stagnant economy. If you haven’t been paying attention the US economy grew at a pitiful one half percent in the first quarter. That is not enough to sustain the jobs that people already have let alone create jobs for this new tidal wave of job seekers. My point is that in a very competitive work environment you will need to take action and stay focused to win a spot at the jobs table.

There is a story that business consultants tell about two hikers walking along a trail in the woods when a large grizzly bear emerges in front of them. One of the hikers immediately throws down his backpack and pulls out a pair of running shoes. As he is lacing up his Nike’s the other hiker looks at him incredulously and says “what are you doing, you can’t out run a bear” to which the other hiker responds “I know, I just need to out run you.”

The point of the story is that in a competition you just need to be better than the people you are competing against. The good news for you is that most of these new graduates don’t have a clue about what it takes to get a job. Many of them will send out a few resumes and sit at home on the couch waiting for a letter that will never arrive or a call they will never receive. Don’t be that person.

If you want to find a job you need to treat the job seeking process as a job. Don’t limit yourself to mailing out a generic resume or posting on a few job boards. Everyone will be doing that. We will describe some strategies you can use in my next post.

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Unrealized Potential

Posted on April 26, 2016 | Leave a comment

Do you have potential? Potential is defined as “latent qualities or abilities that may be developed and lead to future success or usefulness”. Most employers are looking for potential. They may not articulate that or even recognize that but nevertheless, that’s really what they need. They need employees with potential. Potential to learn how to do the job. Most new hires are not expected to contribute immediately. Companies realize that there is usually a learning curve involved. What they want is someone who has the aptitude, attitude and basic skills and knowledge to do the job.

If you are reading this post I would guess you are unhappy with your current employment situation. You either don’t have a job; are not happy with the job you have; or in danger of losing your job. I also suspect you have potential. You have life experiences and/or have done time taking college level courses and studying your butt off developing your potential. But here is what you need to know:

“It doesn’t matter what you can do if no one knows what you can do.”

All that potential and nowhere to go. The point I am trying to make is potential alone is not enough. You need to be able to communicate that potential to your prospective employer. So how do you do that? Does a resume say anything about your potential? Perhaps a little, but it mostly tells employers what you have done. You need to make the case for what you can do. Where do you do that. How about the cover letter. That’s perhaps a better choice but only if you get creative. Don’t use the cover letter to tell them how much you want to work for them. Tell a story. Give an example of an accomplishment or how you over came an obstacle or an example of creative thinking or work ethic. Better yet, tell them in person. Send them a link to a YouTube video where you recount your story in HD.

Remember, employers are risk adverse. They don’t like to take risks on hiring people. Employee turnover costs employers a lot of money. Make yourself a real person to them so they get a feel for who you are. If they think they know who you are they are more likely to take a chance on your potential.

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What Do Employers Want?

Posted on April 24, 2016 | Leave a comment

I work with a number of employers and the most persistent problem they have is finding reliable help. No, I am not talking about the big conglomerates with a fully staffed HR department. I am talking about small business owners, the people that employ the bulk of people who receive paychecks today. And what they want are people that:

Show up on time.
Take responsibility.
Have credibility.
Demonstrate a work ethic.

This is not a comprehensive list but it covers the basics. Yes, of course they want competent people but if you are a recent college graduate all they want is someone they can train. To most employers it is all about the kind of effort you make. If you show up for work and are ready to go, that’s a great starting place. If you are asked to do something, do it. Take responsibility whether you get it done or not. Don’t make excuses. And tell the truth. Honesty is a big deal. If you make a mistake own up to it. If this is not a pattern you will be fine. Remember, its the cover-up that always get them. Just ask Scooter Libby and Bill Clinton. And last, but certainly not least, show that you are not afraid to work. If you want to slack off, wait to you have moved a few rungs up the ladder. Until then, show your employer you are worth what they are paying you.

You have a critically short window when you take a job to create a good first impression. The same is true when interviewing. Know what your potential employer wants out of you and hit all of those notes in the interview and follow up letter.

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