Compensation: If You Don’t Ask, You Don’t Get

CompensationIt’s that time of the year again, when thoughts are turning to Black Friday, the beginning of the mad holiday shopping rush. Children everywhere are putting together their wish lists, but the questions is, have you put together yours?

Several of my clients are in the midst of negotiating compensation packages, what a nice present to enter the holiday season. But just as a child puts together a wish list for his or her holiday gifts, so too should you have a wish list for your own gift that keeps on giving . . .  your compensation package.

1. Putting together the list

When thinking about what you’d like to ask for in the negotiation (or what you’d like to counter with) make a list of what it would take for you to accept the position in the prospective company. Remember to include base salary, bonus, singing bonus, benefits (all too important these days), stock options and vacation time.

2. Do your research

It’s much easier to negotiate if you’ve researched the market and found out what companies are paying for professionals and executives in similar positions. That gives you a more compelling and dispassionate argument for getting what you feel you deserve. Fair market value makes business sense. Remember, if a company appreciates and wants to hire and keep your talent and expertise, they will be willing to pay for it.

3. The compensation package is just that, a total package

The compensation package goes far beyond just base salary. When negotiating, remember to look at the total package. That gives you more flexibility in the negotiation. Not only that, each of us has different wants, needs and motivations. For some, a generous salary base is most desirable, while for others it’s the challenge of a start-up with huge potential upside based on having a piece of the company pie.

4. Get the offer in writing

It’s always important to get the offer in writing, but even more so when you’re negotiating an executive compensation package. There are a lot of elements that go into these packages and you certainly don’t want anything falling through the cracks.

5. The negotiation should be a win-win

The person you’re negotiating with is someone that you’ll be working with in the future, therefore you don’t want the transaction to be contentious. That means you should ask for what you want rather than make demands. Making demands and becoming emotional could lead to an offer being withdrawn.

The compensation package is the gift that keeps on giving. Going in the door is the time to get your best package and always remember . . . if you don’t ask, you don’t get.

~Linda

3 Common Job Interviewing Mistakes

Interview TipsYou’ve done it! You’ve sent your well-written, tailored cover letter and resume into a job posting or perhaps you’ve networked with a friend or former colleague and you’ve managed to land that coveted interview. Now what?

I’ve worked with hundreds of people and most of them tell me that they’re great at interviewing, they just need to get in front of the hiring manager and they’ll land the job. It’s only a handful that will admit they need help with the interview process.

In my experience, the majority of people could use some help with their interviewing skills. After all, it’s not something that we do everyday (and if you are doing it every day and not getting the job, then we need to talk).

When interviewing, there are minor mistakes that probably won’t cost you the job, but there are major ones that will prevent you from landing the position or being called back for a second interview. The following are three of the most common interviewing mistakes:

1. Assuming it’s all about you.

The interview is not about your own wants and needs. The focus of the interview should be on the needs of the organization with whom you’re interviewing. Your aim in the interview process is to find out the company’s goals and objectives and then tell the interviewer the ways in which you can help them achieve those goals. It’s a good idea to have stories about your past accomplishments that you can relate to the interviewer, this will demonstrate your past successes and how they can apply to your future performance with that company.

2. Not asking questions.

Not asking questions is the number two biggest interviewing mistake. By inquiring about the goals and objectives of the company, as they relate to the position for which you’re applying, you can better assess what the company’s needs are and focus your answers on those skill sets.

Not only will asking questions better enable you to answer questions, having intelligent questions about the company and position will show your high level of interest in the organization. It will demonstrate your eagerness to work with them by showing that you’ve put time and energy into researching and learning about the company.

3. Not listening.

Asking questions is great, but then you must listen to the answers and react to them. Yes, it could mean changing your game plan and shifting your focus, but that’s the point. Listening is as important a skill as speaking in an interview. Oftentimes the person conducting the interview will give you clues as to how to best present yourself. The interview should be a conversation, an exchange of ideas.

A good thing to remember when you’re interviewing is that the company wants to hire you. They’re almost as interested in ending their search for a candidate as you are in finding a job. In advance of an interview, be sure to research the company, look your best and avoid making the three top interviewing mistakes.

~Linda

One Job Hunting “Must Have”

What’s the one thing that all job hunters need regardless of the industry they’re in or the position they’re looking for? Well if you want to make a good impression then the “must have” is an attention-grabbing :30 commercial.

Are you tongue-tied when people ask you about yourself? Do you start back to where you were born and where you went to high school? Are you getting bogged down in irrelevant details and information that makes the listener’s eyes glaze over?

What you should be doing is developing and practicing your :30 commercial, giving your listener a scintillating snapshot of who you are and where you’re heading. This brief introductory statement helps form your first impression and should focus on what’s most appealing about you and your background.

Why so brief?  Have you ever been introduced to someone who goes on and on about themselves. At first you’re listening, but as they continue ad nauseam you find your attention wanes, your eyes dull, your smile stiffens and the little voice in your head is thinking of ways to escape? It makes an impression all right, but not a favorable one. There’s another reason for brevity. In these days of 140 character tweets and 160 character texts we just don’t have the attention span to listen to an entire monologue.

When developing your own commercial take a cue from the ads you see on TV. The advertisers aren’t telling you everything there is to know about their product, they’re focusing on its most sellable and appealing aspects and you should as well.

Your commercial should include what’s most marketable about your background including pertinent positions you’ve held and the skills and accomplishments that make you stand out that would benefit the listener. Also, if you’ve worked for prominent companies don’t be afraid to namedrop, this is not the time to be humble.

Remember when you’re involved in a job hunt or career transition, you are your product. Therefore, whether its a networking contact or an interviewing opportunity you want to be prepared with a commercial that keeps your audience tuned in and turned on.

~Linda