As political figures wipe their brows post the long awaited completion of the fiscal agreement, businesses still hold their breaths on just how effective this plan will be. The truth is unfortunately the economy is still not in its optimal condition, companies are modestly hiring, and the job market still remains inundated by fierce talent competition. Truth is… there are many individuals who have remained unemployed or underemployed since the onset of the recession in 2009.

There are very few individuals who are not soured by this realization, however despite this truth, employer expectations have consequently skyrocketed to take advantage of these conditions. Those interviewing for new opportunities are faced with great challenges to remain relevant and sharp as they seek their next move. In such an unforgiving job market, it becomes very difficult for individuals to properly market their talent, when employers meticulously sift through candidate profiles in search of the “perfect candidate,” most often defined by the extensive “honey-do” criteria list, also known as today’s position descriptions. Studies show that employer expectations have become so extensive, that the goal of finding the “perfect candidate,” seems to be working against the goal of filling empty positions, thus contributing to the country’s unemployment rates.

Companies today want to minimize the upfront investment made in new employees. It is for that reason there is a decreased incentive to hire high potential candidates who although talented, may require the new employer to invest in professional training and certifications courses they would like for a candidate to leverage in the new position. Employers are expecting candidates to not only come in the door with all relevant academic and professional experience, but they are also requiring individuals to hold certifications that were once listed under the “ Bonus skills but not required” category of job descriptions.

Employers are padding job posts with narrowly defined certifications and experience with the goal of increasing the perceived success potential of their hired candidates. However unfortunately, the reality is that this practice excludes many talented professionals who, in the event they are unemployed or underemployed, often lack the resources to enroll in such professional certification courses during their career transitions.

The Problem:

With a lack of personal resources and no current government supplemental funding options to cover the fees for most professional certification courses like the PMP, SPHR and others, qualified, experienced, high performing talent “appears” less attractive to employers. Job market trends suggests that companies are hiring less “high potential” candidates and focusing on “already proven success.”

As a result of this trend, many Generation Y jobseekers who are not “job market newbies” but possess less than 10 years work experience is being crushed by the lack of senior level movement, and the re-entry of more experienced talent into the workforce.

Recommendations:

1.) Companies must re-assess their “Employee Wish Lists” when they are seeking to fill open positions. Although the current state of the economy has enabled them greater selection advantage, failing to consider adequate triangulation of experience and perspective can result in you choosing what appears to be the “best candidate” on paper, but result in a poor hiring decision over the long-term.

2.) Use talent acquisition software wisely. Although this tool helps to segment candidate profiles and increase the efficiency for HR professionals, keep in mind that technology only tells part of the story. It is possible that your talent software systems, are automatically excluding some of your optimal talent pool. Besides, it’s important not to forget the “Human” in “Human Resources.”

3.) Professional Certifications are great, but Productivity and Corporate Culture Fit is most important. As companies are looking to hire great talent, it is important to note that everything that “glitters” isn’t gold.

4.) HR Managers…very few employees will stay forever. Do not avoid hiring great talent, simply because they are “too ambitious.” If you find a candidate who has acquired many diverse achievements, this is not an automatic indication that they have CADD (Career Attention Deficit Disorder). Find ways of properly channeling a promising candidate’s energy to benefit your company.

5.) Senior leaders…despite the feeling that you can and will last forever, succession planning is a must. Employers must begin re-engage the generation Y career audience, because they bring an appropriate balance between “fresh ideas and career experience.” These individuals are professionally strong enough to contribute new energy, while also positioned to be groomed for future leadership seats.

6.) Employers, must begin assuming ownership over their contributions to the unemployment rates and the state of the economy. Manipulating hiring behavior based upon political preferences is just as much of an issue as the frowned upon practices, policies, and overall activity of those representing America Washington D.C. During this past Presidential Elections, while delivering his infamous “not-so-private speech,” Senator Romney very candidly revealed this very same understanding when he said “…if I am elected President, the economy would automatically begin to improve because companies will start hiring again…”.

Conclusion:

The bottom-line is simple. In order to close the existing talent gaps within the job market, it is necessary for organizations to get re-acquainted with the idea of investing in their new talent’s professional growth and right-sizing position job requirements to increase hiring efficiency in today’s market thus supporting economic recovery.

How Kestada Can Help….

Kestada works with clients to help them launch sustainable talent development infrastructures. Kestada also offers a multitude of talent enhancing training modules centered around Leadership & Management, Operations & Productivity, Organizational Culture, and Professional Advancement. To view our upcoming training schedule, please contact us at info@kestadastrategyconsultants.com.

Who We Are

Kestada Strategy Consultants LLC is a management consulting firm that provides cross industry advisory services in the Business Strategy, Sales & Marketing, and Organizational Training & Development disciplines. Our consultants work with public, private, academic and non-profit organizations to develop and implement sustainable solutions that position them to successfully navigate diverse organizational complexities, empowering them to maximize their business performance.

Despite reports of economic recovery, people must not re-adopt the career understandings of the past. Gone are the days of “employment security”. In fact, most forward thinkers said farewell to this concept long before the commencement of the global recession. The hard truth is this… if you are not preparing for the “what ifs” today, then you are cheating yourself and your family tomorrow.

Having multiple income streams is a requirement and no longer an option. People are exploring entrepreneurship at much higher rates than their predecessors; mostly out of necessity. Whether you have finally gotten a job or still anxiously awaiting the end of an overly extended, temporary free labor pre-employment period, nowadays called the “interviewing process,” many people find themselves financially multi-tasking, identifying ways to turn their hobbies into businesses. In no way is this statement advocating that every hobby has sustainable business potential, however, the ability to monetize an activity you enjoy is creating new opportunities at exponential rates.

With the growing presence of the entrepreneurial trend, employers are also being forced to accept the reality that “moonlighting” is the new norm. Employers will find it increasingly difficult to identify individuals willing to commit 100% of their lives to their organizations from the start of their careers to retirement. The reality is that the accuracy with which company leadership can predict future organizational success, is no greater than the forecasts they can assert regarding the quality, financial impact, or longevity of your career within that organization
So how does entrepreneurship help to brighten this reality? There is a huge opportunity for companies to harness the thriving ingenuity of future talent, by developing employee programs that support the launch of start-up companies founded by their employees.

As radical as this concept may seem, wouldn’t an individual’s commitment to their employer substantially increase if they felt the company had a vested interest in seeing their success inside and outside of the workplace? Since employee turnover is an inevitable aspect of employment, it would be strategically advantageous for companies to proactively identify which individuals have the greatest likelihood of leaving to start or grow their own businesses? Wouldn’t it make sense for a company to entertain providing both financial and/or non-financial start-up resources for their employees.

Let’s consider some of the benefits to an Employee Entrepreneurship Program:

1. Increased Employee Retention: An employee will be more committed to a company that cares about their endeavors beyond work responsibilities within the organization.
2. Investment Diversification Opportunities for Employers: Since the trend of working and part-time entrepreneurship will continue to grow, employers have an opportunity to gain access to the financial proceeds of their employee’s success through resource investments.

3. Increased Recruitment Efficiency: Employers could proactively align their recruitment plans if they are aware of those individuals who may be most likely to transition out of the company to grow their own businesses.

4. Increased Talent Utilization: Companies would have an opportunity to improve talent utilization, if they are more aware of the qualities and skill-sets that may be underleveraged in an individual’s current position. What better way to assess the value of your human capital, than to provide a platform for them to openly discuss those skills they currently use outside of the company?

5. Increased Employee Satisfaction: Organizations will also find that through this increased talent utilization, they can identify opportunities to place individuals in positions that better align with their desired tasks, interests, and passions.

The day has come when employees may not view their careers as a 20-30 year commitment to the success of their companies. Economic downturn, increased technological capability, and fearless motivation has created an environment where people are looking to plan beyond receiving a paycheck from their jobs. The retirement planning process has been re-defined for the working population. The question is how will organization’s modify their employee retention strategies, to accommodate and effectively leverage the new norms that are driving the career decisions, interests, and paths of tomorrow’s talent.

From the Wallstreet protests to just about every business column, blog, and news publication, one message is clear; we are living amidst a tough and unforgiving economy. It is a time of great misfortune for the middle to lower class groups, not only in the United States, but across the globe. With gray global economic forecasts, upcoming U.S. Presidential elections, and rapid paced industry transformations, there is no longer a clear income model present for the average American. The job market is tough and employers have increasing expectations of talent at all levels within a company. Regardless of your professional, academic, or socio-economic background, it is a general consensus that we are experiencing a shift away from traditional views on wealth creation and retirement planning.

Magnus Greaves and Lucas Riggins, founders of the non-profit organization “100 Urban Entrepreneurs” (www.100urbanentrepreneurs.org) understands this transformation, and they are traveling the country to be an influential force within the entrepreneurship community. By organizing 60 second pitch tour contests, this organization is traveling across the country to rewarding lucky entrepreneurs $10,000 in seed capital and access to cross industry professionals in a structured mentoring program. The 100 Urban Entrepreneurs organization is breathing life into the economy by providing the front-line resources necessary for urban entrepreneurs to pursue their dreams of business ownership.

On September 27, 2011 at the University of Akron Entrepreneurship Summit in (Akron, Ohio), anxious entrepreneurs stood before a panelist of judges from the 100UE organization and LRMR (Marketing and Branding Firm in Cleveland, Ohio owned by Lebron James), and presented their 60 second pitches on why they should fund their businesses.

Hosted by Black Enterprise’s own Shannon Lanier, candidates received constructive criticism and encouragement from all of the participating judges. Although only two entrepreneurs were each awarded $10,000 on that day, there was something bigger that occurred that day. Individuals with backgrounds that would have arguably never attracted the attention of traditional investors or venture capitalists were given exposure and networking opportunities all of which could be used beyond that day.

The future economy will not address people’s job needs in the ways of the past; instead, people will focus more attention on the “creation” of new opportunities, instead of relying on roles to be provided on their behalf. This is not to suggest that everyone will be equipped to become a groundbreaking industry change agent, however one indisputable truth is that retirement planning is becoming less dependent upon corporate 401k plans, and more driven by transactions such as the establishment, buying, or selling of innovative, and highly competitive businesses.

If you would like more information on the 100 Urban Entrepreneurs organization and how you too can have a chance to win $10,000 for your business, take a look at their website www.100urbanentrepreneurs.org.

You can also view samples of past pitch contests by watching the video below:

It is not uncommon for individuals to find themselves gravely concerned about their next career opportunity, especially in today’s job market where many people have been forced to re-think their professional career paths. In fact, with rapid changes in technology, people are desperately competing to keep themselves and their skills sets relevant to their positions, companies, and industries. Both experienced and inexperienced business professionals have been forced to reassess the practicality of career concepts hinged upon characteristics such as “job dependency” and/or “security”, while quickly embracing the notion of “income diversification” and “occupational impermanence.”

Gone are the days when young business professionals in their humble beginnings, can graduate with a four year college degree and begin working for the company from which they have a high likelihood of retiring. Companies and industries are rapidly changing, and the people who run these corporate entities are also evolving just as fast. What is here today may not be present tomorrow, and this has caused many business graduates to question how he/she will create new opportunities for themselves. Part time entrepreneurship or self employment has now become a common trend for working professionals around the globe.

An entrepreneur not only participates in the raw creation of new opportunities, but he or she also possesses an innate ability to identify those upon which no one has capitalized. Whoever claims these abilities should lie dormant just because an individual works with another organization, has clearly not been observing employment trends over the last 5-10 years.

Although at one time the concept of self employment was more frequently questioned, the possibility of part or full time entrepreneurship is now being entertained by more individuals ranging from those who have experienced involuntary career transitions, to those who realize that the pursuit of happiness can be a far more enjoyable experience when a person is doing the work that gives them purpose and ignites their passion. Contrary to what some may believe, it is possible for an individual to have fun and work simultaneously. Those who are in love with what they do tend to be very successful in their business endeavors.

As working professionals we spend a great deal of time identifying the ways in which our qualities, skills, and knowledge bring lasting value to our organizations, but only fractions of this same time understanding how to leverage these qualities for the future financial benefit of ourselves and our families. The truth is that entrepreneurship although challenging in many ways, can be a very lucrative method used in acquiring greater financial control and independence.

Inspiring Reads for the Budding Entrepreneur:
“The E-Myth” by Michael E. Gerber
“Innovation and Entrepreneurship” by Peter F. Drucker

With all the corporate and political scandals that have increasingly dominated U.S. media in recent years, the notion of transparency has overwhelmingly affected how we function as individuals, colleagues, families, businesses, and global communities. Privacy use to be a clear concept where people understood boundaries and respected them accordingly. However with a world that has become impatient and technology dependent, people have grown a sense of entitlement as it related to accessing information both “public” and “private” on individuals and organizations.

The reality is that with the ongoing use of social media and many smart phone applications, “private is the new public”. With the rise in privacy violation lawsuits, the separation between public and private information is no longer concrete. Technology, and more specifically social media platforms, has presented a front row seat to the stage of people’s lack of judgement, revelation of character, and self absorption.

While social media has taught us that overall people love to share information about themselves with anyone who will listen. Mobile technology has enabled us to share this massive amount of information in real time. Instead of talking about where you went for lunch today, you can share where you are eating right now; an ability most would have found to be a bit frightening as recent as 10 years ago.

Many would argue that Facebook has been the pioneer of this social movement, collecting billions of data that supports the notion that people just may be addicted to sharing and accessing personal information. Facebook analysts report that many of the people that discontinued the use of their FB accounts, only find themselves returning a short while after. It is now safe to conclude that society has become obsessed with this social media engine.

People have established relatively strong bonds of trust in their elusive online social communities. From their Facebook Friends to Twitter Followers, this trust in personal online social circles, have led people to voluntarily share information that use to be considered “private”. People feel a comfort in expressing their true feelings, sharing experiences, and promoting all of their likes and dislikes of the world with their perceived pool of friends.

Given what we know about social media behavior, one must now question how people decipher between privileged and general information. If the definition remains the same, have we expanded the boundaries so great, that there is very little value on privacy overall. Interestingly enough, the popularity growth of social media is fueled by the same individuals who object to corporate use of such volunteered information for screening, hiring, and terminating job candidates.

Although financial valuation is uncertain for the costs of the public transparency trend, one thing is clear, the notion of privacy can only be protected when individuals begin to use strategic discretion as to how, what, and where information is being disclosed all together.

Recommended Reading:
“The Filter Bubble: What the Internet is Hiding from You?” By: Eli Pariser

Business leaders have the daunting responsibility of managing their company’s reputation during the age where consumers seem to be more vocal and opinionated than ever before. The birth of social media has given a voice to even the most passive aggressive consumers, enabling messages to be communicated in ways that allow all eyes to see, often within seconds of their experiences. Without encouraging obsessive paranoia, I consistently advise my clients to remain in tune with what is being said about their company, their products, and even those representing them.

Although nothing new… the truth is that image is everything. Consumer’s rely upon their perception of service quality and company reputation, to determine with whom they are willing to spend their disposable cash. Your company’s image influences 3 major components involved in a consumer’s purchase decision-making process:

• Trust Factor: A prospective consumer’s ability to trust that you will deliver exactly what your company asserts, can be vastly altered by word of mouth marketing. Every interaction counts.
• Likeability Factor: Consumers form opinions about how well they “think” they will like you and your products. This opinion is often dictated by how well they feel they can identify with your company’s product, and the audience to which you speak.
• Loyalty Factor: Repeat satisfaction is what helps evolve a “regular customer” into a “customer for life.”

With a population of consumers who are always prepared and willing to spread the word about poor customer service experiences, the need for additional control over public messaging has created new challenges and opportunities for internal and external marketing and brand management professionals. Marketers are tasked with infusing social media content strategies into all of their campaign efforts, with the goal of effectively promoting positive messages about their company’s products and services.

Although the direct impact of social media upon a company’s gross sales may be pure speculation in some cases, hate it or love it, the fact still remains that a company’s poor reputation will limit their performance potential.

Here are 3 Quick Reputation Management Tips for Business Owners :

• Always be sure to address customer complaints immediately. The faster you can turn a negative experience into a positive one, the more inclined your customer is to share how much you valued their business vs. focusing on the poor experience they encountered.
• Always show appreciation to your loyal customers. Today very few companies are able to confidently say they have no worries of competition. In a global economy customers have an abundance of service/product options, so it is in a company’s best interest to treat customers accordingly
• Always remain transparent with your customers, as this is a necessary practice in gaining a customer’s trust. The more confident a customer is in your assertions about your product and/or services, the more likely they are to continue making purchases. Never promise what you cannot fulfill, even if this means not making the sale.

Recommended Readings:

Tactical Transparency: How Leaders Can Leverage Social Media to Maximize Value and Build their Brand by Shel Holtz and John C. Havens, Lynne D. Johnson

According to retail industry experts, the average shoe size for an American woman is closer to a size 10 than a size 6. Yet despite this well known fact, for most women who wear double digit shoe sizes, their shopping experience is often plagued with very limited designer and style options. Although we have all heard the stories about women and their uncontrollable love for shoes, many designers and retailers have not catered to the market of women with “bigger shoes to fill.”

Shoe manufactures and many retailers have failed their prospective consumers by refusing to take a well rounded interest in women that have what Natalie Prather and Toni Hall calls “…a noticeable stride…”. It took these two women to marry their own personal shoe shopping frustrations with an entrepreneurial passion, to bring about the creation of a new shoe retail company called “Size12” (www.mysize12.com); a shoe retailer that exclusively focuses on women who wear shoe sizes 10 to 14.

After a period of discouraging challenges most entrepreneurs would call humble beginnings, these two stunning business visionaries, Prather and Hall, were given an opportunity to launch their store in Lakeforest Mall in Gaithersburg, Maryland. With the help of seed capital provided by 100 Urban Entrepreneurs, since their opening, this retailer has proven to be a success not only with the everyday consumers, but also with the professional female athletic audience. “Size 12” has received the attention of global media players like CNN and Black America Web, giving these two ladies the opportunity to share their entrepreneurship journey with the world.

Natalie Prather and Toni Hall, have tapped into a niche market to which retailers have been turning a blind eye for many years. With fearless determination this duo is bringing global attention to an underserved market with a presence from Maryland to the fashion runways of Milan. Not only has “Size 12” brought about a competitive challenge for other shoe retailers, but most importantly, this company has expanded stylish shopping options in a way that is unfamiliar, yet overwhelmingly satisfying to their audience. This retail company has dispelled the limitations of the traditional shoe shopping experience, providing women of all sizes, a boundless, unique, and stylish, step of confidence.

To learn more about the founders or Size, feel free to check out the features below:
CNN Segment
Black America Web
The Gazette Newspaper

Since the birth of social media platforms like Facebook and Twitter, the concept of “Online Reputation,” has become just as much of an important hiring factor as your professional references. Yet despite being a captive audience witnessing the public embarrassment of politicians, teachers, and many other professionals, the numbers of individuals who still continue to underestimate the importance of managing their digital reputation are staggering.

Law enforcement is not the only industry that is utilizing social media as an investigative tool. In fact more than 50% of employers use social media sites to screen their candidates, and the statistics on this trend are plentiful. Although social networking sites have become essential for both personal and professional use, if you are a business owner, or any professional for that matter, you should consider your online presence as being a factor that could hinder your ability to build new relationships, land a new job opportunity, pursue career advancement, start a new business, or even get into an academic program.

The excessively addictive elements of social media networks like Facebook, have transformed these platforms originally created to encourage global social connectivity, into an enabling apparatus of passive aggressive communication. Despite endless reports on terminations related to poor online behavior, people seem to continue struggling to refrain from sharing negative opinions about their employers, employees, superiors, students, and colleagues, or even tweeting inappropriate pictures to their “followers” on Twitter. Oddly enough, people seem to underestimate the definition of the word “follower”.

The importance of monitoring your online image goes beyond the information that is posted publicly, requires more than changing your profile privacy settings. Management of your online presence begins with using your discretion long before you login on any social media network.

The stakes are high and the message is clear…having a poor online reputation can cost you; BIG TIME. Play it safe and save yourself the embarrassment.

Here are 5 Easy Ways to Maintain a Positive Online Presence:

1.) What you don’t know can cost you! Always be aware of the images people are “Tagging” on your Facebook page. The old saying “guilty by association” still stands.

2.) Like Mother always said, think before you speak! Always consider what you are saying, who can see, and whether or not if you had to explain your statement, it would jeopardize or embarrass yourself, your family, or any other relationships.

3.) If you happen to have a “sick day,” refrain from posting pictures of you dancing, singing, or remotely giving the impression that you are enjoying your “off” day.

4.) Refrain from posting any comments that begin with the words “My Boss…”. This rule especially applies if your boss is follower #1 on your twitter list.

5.) If you wouldn’t say it face to face… then don’t post it in the first place! Simply intuitive.

The phrase “It’s not what you know it’s who you know…” is probably one of the most overused but highly misunderstood statements used in the professional world. Its overuse has resulted in the de-valuation of its original meaning, not to mention the affect this misunderstanding has had upon many people’s relationship building skills.
Although the internet and now social media has assisted in the rapid transition of how we as people communicate and/or relate with one another, the fact still remains that regardless of how many “friends” or “connections” you may acquire online, nothing will replace the human touch.

There are some people who understand this… and some who would strongly disagree, but for those individuals who “get it” so to speak, they are extremely successful in meeting new people and building long-lasting social and professional relationships that will more than likely outlast the social trends of today.

With this in mind, here are 3 Tips for Building Successful Professional Relationships:

Tip #1
Networking is not always about what you can “receive” from someone; your focus should largely focus on the value you can offer to them.

As a business professional, focus on how you can bring value to others, and this will eliminate the impression that you would only like to connect with a person for your own strategic benefit.

Tip #2
Networking is not the mere exchange of business cards.
You cannot expect to build a reliable professional network if you fail to follow up with people after meeting them.

Tip # 3
Social Media cannot replace the role of trust in building successful relationships
Social Media can only help in enabling connections… it is up to you to build the foundation of trust.

Recommended Reading: “Click” by George C. Fraser