The candidate who best addresses the five questions will get the contract or job offer

Question 1: Why do you want to work here?

During interview preparation you reviewed the organization’s website and articles in the media.  Maybe you found out about a new contract the company had won or a recent environmental or charitable award it received.  Maybe you have done some research and found that the organization’s values are a close match with your own.  For the specific job, are the tasks required in line with your skills and what you enjoy doing?  In any case, the interviewer wants to know that you have a compelling reason for sitting across from him/her aside from needing work to pay the bills. 

Question 2: What can you do for us?

This is your opportunity to discuss your skills and knowledge about the job or the industry/sector the organization is in.  You want to be seen as part of the solution and not an extension of the problems the organization is facing.  For example, if an important project deadline is coming up and you are applying for a software development contract then you want to highlight your flexibility to work long hours or travel in addition to your technical prowess and focus on efficiency (assuming these are applicable of course).  Be prepared to give examples.  The interviewer will assume your past work is predictive of what you will do at their organization.

Question 3: What kind of person are you?

The interviewer wants to know if your personality is a good fit with their team and whether your values match those of the organization.  They know that this will directly affect key factors such as productivity and retention.  Part of your interview preparation is to look at strengths/weaknesses and this may include an understanding of your personality and how it would fit into this particular organization and position.  For example, a personality trait such as creativity may represent highly necessary attribute in one organization/position while a superfluous characteristic in another. 

Question 4: What distinguishes you from other candidates?

What is unique about you as compared to others who can do the job?  This is something that needs to be answered long before the interview.  For example, your thorough problem solving approach would be very valuable in bridge design as well as risk management.  In this example you want to convince the interviewer that your approach to problem solving is distinctive and valuable.  Hence you stand apart from other applicants. 

Question 5: Can we afford you?

For permanent positions the interviewer wants to have an idea of your salary expectations to ensure they can close the deal should they decide they want you.  While they likely have some flexibility in salary, they are governed by factors such as budget and what other employees in a similar position are paid.  In an early interview round you may try to sidestep the question until later however be prepared with a range in case you are pressed to provide one.  Many an interviewer will not want to pass a candidate to a later round or present an offer without first qualifying candidates as to salary expectations.  Where possible, try to avoid being the first one to mention a specific number.  Instead, ask the interviewer what they expect to pay for this type of position. 

So how about some other tips on how to best interview and get the offer?  The author of ‘What Color is Your Parachute? suggests several:

1. Speak and listen 50-50 during the interview

2. Answers to questions should be no more than 2 minutes at a time

3. Bring evidence of your skills to the interview if possible

4. Its worth repeating - never criticize former employers

5. Give quality examples - your past work is assumed to predict your future work

6. Always send a thank-you note right after the interview

So, how best to prepare for the interview?

Chances are in this economy, unless you are in a field with a chronic skills shortage, there will be at least 3 and potentially many more short listed candidates in line for that one position.  So how do you best target your efforts to stand out from the crowd?  Here are a few key actions which will supplement your core interview preparation.

Do your homework.

Take some time the day before the interview to review the company’s website and recent articles in the media.  As the interview opens, this will give you a chance to show you have done your homework and also provide a basis to ask more detailed questions about the company’s business, new projects, the position, etc.

If you are working with an agency, ask your Account Manager what the format of the interview will be.  This should include: who will be conducting the meeting, their position, any special activities, etc.  This knowledge will aid greatly in your preparation and alleviate stress.

Write down your strengths and weaknesses.

Write down your 5 top strengths and 3 weaknesses as they pertain to the position the day before the interview.  Interview stress can often cause people to forget so having these clear in your mind is important.  For the weaknesses, be clear on what you have done to address them.  One strategy is to pair a weakness with an offsetting strength which more than compensates.   

Be enthusiastic.

The interviewer(s) want to see interest in their job.  Someone who conveys a strong desire and energy for the position will, all other things equal, be memorable enough to remain at top of mind and win the contract.

Leave salary discussions as flexible as possible.

If you are working with an agency you can defer contract rate discussions to your Account Manager.  Otherwise the best approach I have found is to adopt a guideline of fairness and avoid providing an exact figure.  If further pressed you could provide a range however you want to have an idea of what the company expects to pay.

Practice closing the interview

You want to be remembered by the interviewer(s).  Thank them for their time and reiterate your interest in the position.  Ask if the interviewer(s) feels your skills as discussed are what they are looking for.  Then ask about next steps.

What else can you do to improve your chances?

Dress professionally

Arrive 15 minutes early

Compliment, not complain about past employers

Appropriate handshake and eye contact (match interviewer)

Answer questions directly and don’t go off on tangents

Ask perceptive questions about the company or position

Calm & assertive but not aggressive

Articulate your career path and goals

Short direct responses to unfavourable situations

Be friendly

Be well rested

Remember, your job at the interview is to make it to the next stage or generate an offer

Now, go get ‘em!  Thanks for reading.

This is critical to your success

The fields of finance and especially information technology are highly dynamic and subject to new regulations and ever evolving technologies, both revolutionary and evolutionary.  While an employee can sometimes get away with being dated technologically, a software contractor (for example) is usually expected to be proficient in the latest version as well as potentially older versions of a software application.  As such it is important for you as a contractor to understand the scope of your expertise (niche) and work to stay up to date and anticipate change within that scope. 

Some potential techniques to accomplish this include:

•  Reading periodic publications such as trade journals, newsletters, magazines, online articles, etc. in your field of expertise to understand specific topics, where the field is going, or to broadly explore a new area 
• Develop a formal training plan including conferences, classes, workshops, online training, books, etc. depending on your style of learning and money/time considerations
• Gain hands-on experience by volunteering on a project in an area you want to learn more about.  Even better – get paid while you learn on the job.

 

Considerations:

•  If looking into a new area of technology for example try and leverage transferable skills you already have.  Chasing hot technologies can be a risky strategy.  If you decide to go this route you will need to supplement training with hand-on experience.
• Always weight the pros of a given form of training with the direct as well as opportunity cost.  Remember that time spent in training is usually non billable so make sure you will see benefits
•  Ensure time spent on seminars is worthwhile and they are designed to teach and not sell you something.  In many cases conferences and seminars are an expensive and inefficient way of learning something or staying up to date.

  

Certifications can also be of significant benefit and should not be overlooked.  Decide how much value a given certification will provide and how many doors it will potentially open.  Then compare this with the cost of acquiring and maintaining the certification.  Do prospective clients consider the certification a must have requirement or it is just icing on the cake?

So what’s the payoff?

As a contractor by ensuring your skills are up to date you will be more marketable, have less downtime, and potentially higher contract rates. 

If you are a contractor I’d welcome comments on what has worked for you with respect to keeping your skills current so please share.

Next Month:

 Part 3 of 3 – Want to be a Contractor?  Interview preparation.

Financial security is one of those risks.

As an employee I got used to regular pay cheques and hence predictability in earnings.  There were also benefits and pension plans to help me mitigate costs and save for retirement.  With self employment/contracting these safety nets are not included in the package but they must be looked at and duplicated to the extent deemed important and relevant to the individual contractor.

How can this be done for common (and uncommon) expenses?

Mortgage payments and most other bills are periodic and therefore require regular cash outflow.  When a contractor is working this is not an issue however in between contracts and in a challenging environment as we have today I would suggest:

• 3 months or more of liquid funds.  Cash in a bank account, while earning no interest is the safest.  A mix of cash with laddered GIC’s is also good.  You trade some flexibility for higher interest income.
• Savings – I like to invest in a diversified group of low management fee, no-load index funds.  I buy automatically every month and never miss the money.  This is the old ‘pay yourself first’ principle’ and over time will add up to a sizeable lump sum which is very liquid.
• Do not borrow on credit cards.  Hold the index funds recommended above within a discount brokerage margin account and you’ll be able to borrow against them at home equity LOC rates (currently 3.50%) without any setup fees.  You can then pay this loan back after the next contract begins.  Worst case scenario you can sell the funds at no cost and pay back the loan.  Fund sales are also taxed as capital gains (50% taxable).
• I also like to setup RRSP investments within a discount brokerage account with a mix of stocks and fixed income investments.  One rule of thumb is to set stock allocation % as (100-age).  The remainder is invested in fixed income.  For fixed income in this low interest environment I prefer individual bonds rather than bond funds.  They are ideal from a tax standpoint and easy to purchase within a discount brokerage account.  They also throw off regular income in the form of coupon payments.

 

For benefits:

• Assess the economics of benefit plans which provide medical, vision, & dental coverage.  Look at group plans within organizations you are already a part of such as the Chamber of Commerce.  Be sure to shop around and buy only what you may need.   
• Investigate disability coverage through a group plan or with one of the large insurers. 
• Save for a vacation from time to time and take it!

 

These are a few techniques I have used successfully to address the financial risks of self employment/contracting. 

Thanks for reading.  I’d love to hear about any particular strategies you have used successfully (or unsuccessfully) so please send comments!        

          Next Month:

Part 2 of 3 – Want to be a Contractor?  Skills and Keeping them Current.

Why do some people with high IQs struggle in their career while others with moderate IQs succeed?

This topic is still very relevant and interesting today.  The answer of course is emotional intelligence which is measured by EQ.  EQ is distinct from IQ as well as aptitude, ability, and personality.  It consists of noncognitive capabilities that influence a person’s ability to cope with environmental stressors.  The measurement tool Dr. Stein was discussing contained ‘subscales’ such as ‘Emotional Self Awareness’, ‘Assertiveness’, ‘Interpersonal Relations’, ‘Empathy’, ‘Stress Tolerance’, and many others.  EQ strength areas are influenced by gender and a person’s EQ tends to rise over time as they gain life experience.

What does this mean to job seekers and leaders alike?

A few things:

• Firstly, the ‘smartest’ person in the room is not necessarily the best leader.  Good leaders surround themselves with talented staff.
• It sometimes pays to put off a good thing to get a better one as evidenced by the ‘marshmallow test’.  Those kids who showed impulse control and did not eat the marshmallow they were offered were more successful in the future and made better employees.
• Successful leaders are adaptable.  Did Bill Gates really say the Internet is just a fad and then change course?
• The most successful leaders are self aware (know their strengths/weaknesses), independent, have a high stress tolerance, decisive, and assertive vs. passive or aggressive.
• Top performing leaders also score high in empathy.
• Not all jobs require the same EQ strength areas so it is important to think about what your specific occupation requires to succeed.  For example, the most successful collection agents have often scored low on empathy scales.

 

Thanks for reading.

And history proved this to be true 

While there were a number of issues including AOL valuation, the merger represented a gigantic culture clash between a traditional media company and a dot com at the height of the technology bubble.  Strategically there were a number of reasons this deal could have been a good idea so why did it fail?  The idea may have had some merit but execution was lacking.  The challenge of  merging two very different cultures was underestimated and hence not give the attention it deserved.  A probable idea turned into a ‘marriage from hell’ and the companies eventually separated.  While not as publicized, there have been numerous other examples similar to the AOL-Time Warner story.

So what does this have to do with organizations in Victoria and BC in general?

Simply put, we as stakeholders in Victoria organizations would benefit by understanding and accepting the importance of culture and then be willing to act accordingly.  By recognizing the critical link between strategy and culture and then taking steps to actively manage culture, we can position ourselves to do even better than we already are and of course avoid a costly disaster.  This is true regardless of our size, mandate, a profit or service motive and many other factors.  Like other key attributes, organizational culture should be measured regularly and (at least) when major changes are taking place such as an M&A or shift in business priorities.  Plans for managing the culture can then be developed to maintain it or move it in a direction that better facilitates the organizational strategy.

So, why is organizational culture important to us now?

It allows us to be the best we can and in doing so better address the needs of our customers and citizens.  All this with minimal extra investment or special effort.  Best of all once we go along this path we gain a momentum that keeps things getting better and better.

That benefits all of us.  Thanks for reading.

These are good questions

I remember always being a business minded type. For example I was in Junior Achievement in elementary school and also used to hold frequent garage sales to help my neighbors in Regina sell off the stuff they no longer needed. Inevitably the neighbors and I would often end up buying stuff from each other or trading!

So much for clearing out the old stuff

In doing this I learnt the art of negotiation, marketing, and sales. Before long, people were calling on me when they needed to sell something. In the Junior Achievement role I further my interest in business by making and selling tow ropes to help drivers in the snowy Saskatchewan winters. I would pick snowy days and then go door to door selling them in -30C weather. Many people found these ropes in their trunk to be an inexpensive type of insurance and a great way to support kids.

The reasons I like garage sales and selling tow ropes actually has a lot to do with why I got into engineering later on and then into consulting & staffing, and my present role.

In all these endeavors I have a chance to offer a unique product or service at a time when it adds value to all concerned. Creating win-win scenarios and providing a product/service as a unique solution has always given me tremendous satisfaction and happiness. Becoming self employed allows me to achieve this on a potentially larger scale. As for the recession, well any business which has been around for awhile will go through one so why not start towards the end of one?

So why start a staffing business? I found I enjoy this type of work – dealing with people, helping organizations assess their needs, and facilitating transactions which are win-win. Really, very similar to work I had done at the beginning of my career albeit in a slightly different capacity. In 2008 when I worked for another firm, the satisfaction I experienced when I successfully matched people with roles went far beyond closing the initial deal. I felt like I was an integral part of their team and it was always nice when happy clients and consultants referred me to their colleagues.

However, my reason to start this type of business goes deeper than just a desire for win-win placements but to redefine what this means and take it to the next level. Over my 15 year career to date I have had the opportunity to see people who love as well as despise their jobs. While most of us fall somewhere in the middle, it is clear that the closer we are to really liking the work we do the better off we would be (emotionally and economically). Similarly, so too would the organization we work with.

Think of it – on a BC and national scale we would be happier, more productive, and yes richer. Unequivocally, a true winning scenario for all concerned. I would be very happy to be part of making this happen.