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Archive for September, 2009

Financial-Services Employers Raising Salaries to Compensate for Smaller 2009 Bonuses

By Donald Sears ⋅ September 30, 2009 ⋅ One comment

Financial-services companies are raising base salaries to compensate for smaller bonuses this year, according to a report in Workforce Management.
“Not ever in the 20 years I’ve been recruiting do I remember a time when there’s so much concern over the stickiness of the talent base,” said Jane Hobson Marcus, partner in the global asset and [...]

ITT Relocation Packages Lure Hires to “Less-Glamorous Locations”

By Donald Sears ⋅ September 30, 2009 ⋅ Post a comment

High-tech engineering and manufacturer ITT’s Defense Electronics and Services is offering new hires “generous relocation packages” to move to “less glamorous locations,” like Omaha, Neb., and Huntsville. Ala., reports BNET.
ITT, based in White Plains, N.Y., has more than 40,000 employees and has been hiring steadily in 2009, since its security and defense business was awarded [...]

When Your Web Trail and a Recruiter’s Reputation Collide

By Donald Sears ⋅ September 30, 2009 ⋅ Post a comment

Recruiters are worried that applicants might ruin their reputations and have turned to social networks to find embarrassing details that might compromise them later.
Recruiters often consider their reputation on the line with every hire, even months into employment, said Kris Dunn, who writes the HR Capitalist blog. He and others usually do their best to [...]

Open Job Postings Slow in September

By Donald Sears ⋅ September 30, 2009 ⋅ Post a comment

Job openings slowed slightly in September, but overall job demand is up since April, according to The Conference Board, which tracks demand via online job postings nationally.
“While the trend has been modestly upward and averaged 40,000 per month over the last five months, the labor market continues to have a hard time gaining momentum,” said [...]

Fewer Harvard, MIT, UPenn Grads Seek Finance Jobs as Salaries Shrink

By Donald Sears ⋅ September 30, 2009 ⋅ Post a comment

Dramatically fewer college graduates want to work in financial services and many Wall Street veterans are turning away from the industry, according to a report in the Wall Street Journal.
Only 20 percent of the Harvard class of 2009 wanted to work in finance, down from 40  percent in 2008, and 47 percent in 2007, according [...]

Financial-Services Jobs Growing Faster Overseas

By Donald Sears ⋅ September 30, 2009 ⋅ Post a comment

Financial-services firms are hiring again, but the pace is slow and many firms are building staff faster in Europe and Asia than in the U.S., employment analysts told Forbes.
The hiring areas that are hottest include risk management as well as audits and implementation for mergers and acquisitions, according to Andrew Reina of Ajilon Finance Solutions. [...]

How to Answer Behavioral Job-Interview Questions

By Donald Sears ⋅ September 30, 2009 ⋅ Post a comment

Your past performance  is the single best indicator of your value to a hiring manager,so expect an interviewer to ask questions that will highlight your value in your past roles, said Gary W. Capone in a post on the Palladian Career Resources blog.
Most interviewers are trained to ask behavioral questions, like, “Tell me about a [...]

Jobs, Employment Market Won’t Recover Until 2017: Rutgers Study

By John Hazard ⋅ September 30, 2009 ⋅ Post a comment

It will be 2017 before the job market returns to healthy, pre-recession levels, according to two Rutgers professors.
The professors, James W. Hughes, dean of the Edward J. Bloustein School of Planning and Public Policy, and Joseph J. Seneca, an economist at the Bloustein School, reason that the economy isn’t just losing jobs, it’s running a [...]

Weekly Unemployment Numbers Down

By Donald Sears ⋅ September 24, 2009 ⋅ Post a comment

The Department of Labor report jobless claims were down last week, as was the four-week moving average.
“In the week ending Sept. 19, the advance figure for seasonally adjusted initial claims was 530,000, a decrease of 21,000 from the previous week’s revised figure of 551,000. The four-week moving average was 553,500, a decrease [...]

Reduced Sales Salaries Squeeze Commissions, Retention

By Donald Sears ⋅ September 24, 2009 ⋅ Post a comment

“You want to make what you were making? Sell more.”
That’s the mantra for many sales departments lately.
In an attempt to lower costs and squeeze any and all business out of sales departments, salaries and commission structures  have been reduced, reworked and adjusted in favor of the company. In a recession that has forced most organizations [...]

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