Set Yourself Up For Success Archives - Page 4 of 16

What Is A Bonus And Why Do We Like Them?

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Think about the last time a checkout clerk offered you a bonus discount on an item or you came across a bonus feature in a movie. You probably felt pretty great, right?

People love the idea of bonuses because “extra” or “free” stuff is hard to pass up. It’s why we get excited as consumers, and also why they intrigue us when considering a job offer.

But bonuses come with a lot of caveats, too. Understanding how a bonus works and why they’re provided in the workplace can help you choose between a job with poor compensation and one where you’re set financially. We’ll break them down so you come out feeling like a pro.

Define Bonus

A bonus is “a form of compensation that’s not guaranteed and that is usually paid after the completion of a certain event,” says Adi Dehejia, The Muse’s Chief Financial Officer.

Bonuses come in many shapes and sizes (all of which we’ll explain later), but generally speaking they’re performance-based, meaning a company distributes them based on how an employee or group of employees contributes to team or company goals—typically revenue-based ones.

That said, a lot of bonuses are discretionary, meaning rather than the bonus being tied to a specific quota, your level, or your performance, a manager simply gets to decide who is and isn’t worthy of one, as well as how much the bonus is.

As you can imagine, this makes bonuses a pretty complicated subject for companies and employees alike.

What Motivates Companies To Offer Bonuses?

Often bonuses are provided because that’s what the market tells companies to do. If other organizations of similar size, industry, or geography are offering their employees bonuses, a company may feel obligated to do the same to compete for good talent. This is why you’ll rarely find a sales role without a bonus structure.

They also want to hire people who they know are going to perform, and when there’s a reward for output you’ll attract a certain kind of person.

But the main reason employers are drawn to bonuses is because they encourage employees to work hard to help the company succeed. “They want to align incentives—like, ‘You do well if the company does well,’” says Dehejia. And it tends to pay off—people who know they can make more money by bringing in more revenue, whether directly (like sales) or indirectly (like marketing or executive leadership) are going to be highly motivated to do so.

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What Is Salary Transparency and How to Prepare

Blog, Employers, Job Search, Set Yourself Up For Success

Compensation has historically been considered a taboo subject, but that’s changing. Online job postings and self-reported wage tools have made it easier than ever for your candidates and employees to research pay. Many employees are discussing compensation among themselves at work. And an increasing number of employers are embracing salary transparency.

Salary transparency — also known as pay transparency or wage transparency — is the practice of openly communicating information about compensation with employees and candidates. This can look a little different at each company. While some companies share all salary data publicly, some simply disclose how salaries are determined with each team member. Many employers also share salary ranges so team members understand their earning potential in a given role.

Legislation Is Driving Higher Salary Transparency

Pay transparency isn’t just a good way to be more open and honest with your employees — it is more and more often the law.

New pay transparency laws crop up regularly and legislation differs by jurisdiction. It’s important to stay on top of the local laws and regulations where your company operates or has employees.

Within the United States, for example:

California’s new pay transparency law became effective on January 1, 2023. It requires covered employers to include pay ranges on every job posting and share pay ranges with employees for their current position.
New York’s law will go into effect in September 2023, requiring that employers disclose pay or a pay range for all jobs, promotions, and transfer opportunities that can or will be performed in the state.
Maryland employers must provide the wage range for a given position upon an applicant’s request.
Cincinnati employers must provide a pay range after a conditional offer of employment has been made.

Similar pay transparency laws, including The European Union’s Pay Transparency Act, are being proposed globally. It will require employers to include a salary range in job posts or before an interview. It also gives employees the right to request information about their individual pay level and the average pay level for colleagues doing similar work.

These laws are driving higher pay transparency. Nearly one in five organizations report being transparent largely due to regulations, though another 42% say their transparency goes beyond what’s required or motivated by regulations alone.

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Smart Interview Questions You Should Be Asking

Blog, Interview Tips, Set Yourself Up For Success

You’re sitting under the fluorescent lights of an unfamiliar conference room across from the person who may decide the fate of your job search, trying desperately to remember that perfect story you prepared and wondering if the AC is always set to “arctic blast.” Or maybe you’re at home in front of the most professional wall in your apartment, looking at your interviewer on a computer screen and hoping your camera won’t shift and reveal the stack of empty La Croix cans you forgot to move before the Zoom call started.

Then, the hiring manager asks the interview question you know is a signal that things are about to wrap up: “Do you have any questions for me?”

No matter how much power you might feel like employers hold in the situation, a job interview isn’t just a chance for the hiring manager to grill you—it’s your opportunity to sniff out whether a position would be as great for you as you would be for the position. So it’s vital to ask some questions of your own. What do you want to know about the role? The company? The department? The team? The person interviewing you who may be your future boss, coworker, or mid-afternoon coffee buddy?

To get you thinking, we’ve put together a list of the best, smart interview questions for your upcoming interview. We definitely don’t suggest asking all of them rapid-fire—some of this stuff will be covered during the course of your discussion, and you’ll have specific questions about any given job or workplace.

So this list isn’t the be-all and end-all—it’s your jumping-off point.

Best Tips For Asking An Employer Questions

Before we get to the list, here are a few pointers to keep in mind:

Don’t say you have no questions. You probably already know that whether you’re stressed or relaxed, whether you think you’ve fumbled the conversation badly or you’ve got this job in the bag, the worst thing you could say is, “Nope, I’m good.”
Be flexible. It’s OK (and encouraged) to jot down a few questions ahead of your interview, but don’t be afraid to deviate from the list if your questions have already been answered and/or if your discussion prompts a few more questions you’d like answered. Plus, you don’t want to sound like you’re reading the questions off some sort of internet list rather than having a real conversation.
Ask at least a few specific questions. Show you’re invested and you’ve been paying attention throughout the interview process by customizing your questions to the specific position and company—and reminding your interviewers of the background knowledge and experience you bring to the role.

Smart Interview Questions To Ask About The Job

Make sure you have a handle on exactly what the day-to-day responsibilities of the job will be—both now and in the future. This will help you make an informed decision if and when that job offer comes and avoid Shift Shock or a toxic workplace.

What does a typical day or week look like in this role? (Or one of these alternatives.)
What are the most immediate projects that need to be addressed?
Can you show me examples of projects I’d be working on?
What are the skills and experiences you’re looking for in an ideal candidate?
What attributes does someone need to have in order to be really successful in this position?
What types of skills is the team missing that you’re looking to fill with a new hire?
What are the biggest challenges that someone in this position would face?
What sort of budget would I be working with?
Is this a new role or will I be taking over for an employee who’s leaving?
How does this position contribute to the company overall?
Do you expect the main responsibilities for this position to change in the next six months to a year?

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Upskilling: What Is It and How It Can Help You

Blog, Industry Insights, Set Yourself Up For Success

Upskilling is the process of adding new competencies to an existing skill set. Employers may upskill staff through corporate training programs in order to gain a more proficient workforce. Workers may upskill themselves via continuing education, certification, and private training.

How To Upskill

Upskilling builds on your current proficiencies through training, education, or on-the-job learning. Unlike reskilling, which involves learning an entirely new skill set, upskilling adds to the knowledge you already possess.

Major employers including Walmart, Verizon, and Marriott make heavy investments in upskilling and reskilling programs. Many employer-sponsored programs focus on hard skills like coding, cloud computing, and digital marketing. But soft skills are also in demand—Verizon’s Skill Forward program focuses on communication and teamwork, as well as technical skills. In a ZipRecruiter survey, 93% of employers said that soft skills play a critical role in their hiring decisions.

You can also upskill yourself on your own, taking continuing education classes, participating in internships, or completing a certification. Upskilling can help you become better at your job, earn a promotion, or adapt to new challenges in your industry. It can also help you future-proof your career!

Rapidly evolving industries mean that even workers who stay in their current jobs will need to add to their skill sets in order to stay current.

Upskilling Example

Let’s say that you’re a software developer. You have a bachelor’s degree in computer and information technology and several years of experience designing and developing software to suit users’ needs.

You like your job, which allows you to use your creativity and problem-solving skills to help design new solutions to challenging issues. But your ultimate career goal is to become a chief technology officer, which may require you to earn an MBA and gain experience as a computer and information systems manager.

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What’s Your Communication Style in the Workplace?

Blog, Set Yourself Up For Success

Wouldn’t it be a dream to run a highly productive business where there’s little to no drama? Of course! That sounds freaking awesome…and impossible, right? Wrong.

The key to a highly successful, low drama business is effective, intentional communication. You’ve got to make it a priority—and part of your company culture. Seriously. As the quality of your communication goes up, the amount of frustration your team feels goes down. They can focus on the right things, build greater trust in one another, create an amazing customer experience, and get more work done—aka all the ingredients for a successful (and profitable) business. And all of that starts with knowing your communication style.

But figuring out how to build trust through your communication style can feel like swimming through a sea of muck at first—slow, hard, and maybe even a little stinky. But whether you lead a business of five team members or 500, it’s up to you to understand the four main types of communication styles. Then you can use the best style to set the stage for a culture of listening—one that makes your team feel heard and open to sharing.

Communication Styles Defined

A communication style is the way someone talks to and interacts with others. When it comes to your style, are you large and in charge, tight-lipped and soft-spoken, or somewhere in between? Both your business communication style (how you interact professionally) and your personal communication style (how you interact outside of work) show up in the way you write, speak and act. And these styles are influenced by your personality, degree of self-awareness, and confidence level.

These are the four main types of communication styles we’ll unpack:

Passive
Aggressive
Passive aggressive
Assertive

All of us use one style the most, but we can see any of these styles rise to the surface—depending on the situation and what buttons are pushed. The goal is for you to build the habit of using assertive communication even in moments when you want to communicate in a different, less effective way.

Passive Communication Style

On the surface, the passive communication style looks like a neutral attitude about a topic or situation—as if you don’t have a strong opinion or that you’re willing to let whatever happens happen. One more note about passive communicators–they don’t actively look for attention. Most dread confrontation—so they defer to others in uncomfortable situations and for decision-making. But here’s the thing: If you’re a leader, being passive isn’t an option. Leaders lead.

What’s Your Communication Style in the Workplace? Read More »

5 LinkedIn Tips To Set You Up For Success

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LinkedIn has been around for a while now, so we won’t bore you with all the obvious optimization LinkedIn tips.

Yes, you should have a high-resolution profile image. Of course, you should write a compelling summary. Without a doubt, list all your relevant job experience. However, let’s go deeper…

Below, we outline pivotal LinkedIn tips and tricks you’ve (likely) never heard before. These tips have the potential to grow your brand, boost sales, expand your connections, and accelerate your career.

How To Learn To Love Networking

Leave a Comment / Job Search, Set Yourself Up For Success

“I hate networking.” We’ve all heard someone in our life say this. They tell us that networking makes them feel uncomfortable and phony—even dirty. Although some people have a natural passion for it—namely, the extroverts who love and thrive on social interaction—many understandably see it as brown-nosing, exploitative, and inauthentic.

But in today’s world, networking is a necessity. A mountain of research shows that professional networks lead to more job and business opportunities, broader and deeper knowledge, improved capacity to innovate, faster advancement, and greater status and authority. Building and nurturing professional relationships also improves the quality of work and increases job satisfaction.

The Harvard Business Review studied 165 lawyers at a large North American law firm, for example, and they found that their success depended on their ability to network effectively both internally (to get themselves assigned to choice clients) and externally (to bring business into the firm). Those who regarded these activities as distasteful and avoided them had fewer billable hours than their peers.

Fortunately, their research shows that an aversion to networking can be overcome. Here are four strategies to help people change their mindset and learn to love networking.

Learning To Love Networking

Focus on Learning
Most people have a dominant motivational focus—what psychologists refer to as either a “promotion” or a “prevention” mindset. Those in the former category think primarily about the growth, advancement, and accomplishments that networking can bring them, while those in the latter see it as something they are obligated to take part in for professional reasons.

Consider a work-related social function you feel obliged to attend. You can tell yourself, “I hate these kinds of events. I’m going to have to put on a show and schmooze and pretend to like it.” Or you can tell yourself, “Who knows—it could be interesting. Sometimes when you least expect it, you have a conversation that brings up new ideas and leads to new experiences and opportunities.”

If you are an introvert, you can’t simply will yourself to be extroverted, of course. But everyone can choose which motivational focus to bring to networking. Concentrate on the positives—how it’s going to help you boost the knowledge and skills that are needed in your job—and the activity will begin to seem much more worthwhile.

Identify Common Interests
The next step in making networking more palatable is to think about how your interests and goals align with those of people you meet and how that can help you forge meaningful working relationships. Northwestern University’s Brian Uzzi calls this the shared activities principle. “Potent networks are not forged through casual interactions but through relatively high-stakes activities that connect you with diverse others,” he explains. (See “How to Build Your Network,” HBR, December 2005.) Numerous studies in social psychology have demonstrated that people establish the most collaborative and longest-lasting connections when they work together on tasks that require one another’s contributions. Indeed, research that Tiziana from HBR conducted with INSEAD’s Miguel Sousa Lobo showed that this “task interdependence” can be one of the biggest sources of positive energy in professional relationships.

Read More: https://hbr.org/2016/05/learn-to-love-networking

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What’s The Difference Between A Letter Of Interest And A Cover Letter?

Leave a Comment / Blog, Interview Tips, Job Search, Set Yourself Up For Success

Difference Between a Letter of Interest and a Cover Letter
A letter of interest and a cover letter have much in common — they are both letters that job seekers send to employers in hopes of obtaining employment.

But there are key differences you should be aware of, such as the circumstances when one or the other is appropriate, and how exactly they should be written.

What Is a Cover Letter vs. a Letter Of Interest?
The differences between a cover letter and a letter of interest are pretty simple.

A cover letter is a one-page letter sent with a resume when applying for an open job that is publicly advertised in a help-wanted ad or some other kind of job listing.

A letter of interest is a one-page letter sent to an employer that is not advertising an open job you want — but you really want to work for that employer anyway, that’s why another name for it is an expression of interest. You’re writing to let the employer know what skill sets you have that appear to match its needs, and to inquire whether there might be any openings that match your qualifications.

How To Write A Letter Of Interest Vs. A Cover Letter
The idea behind a cover letter is pretty straightforward. It provides a personal appeal for the job, showcasing your character, offering reasonable arguments regarding your value as a professional and aims to connect with the hiring manager on a human level.

The letter of interest, however, has one additional element in its writing – a direct offer to take you on as an employee, with you as the initiator of this procedure.

Read More: https://resume.io/blog/letter-of-interest-vs-cover-letter

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No Response After An Interview? Here’s What You Need To Do…

Leave a Comment / Blog, Interview Tips, Set Yourself Up For Success

Receiving no response after an interview can be confusing, leaving many candidates wondering whether they should initiate contact or keep waiting. Following-up after an interview reaffirms your enthusiasm for the position and reopens the dialog between you and the interviewer. However, responding in the right way is essential for these positive results. Let’s discuss the right way to proceed if you get no response after an interview.

Why Don’t Employers Respond?

Usually, you can consider you have received no response after an interview when the interviewer does not contact you within the timeframe specified at your last meeting. You could receive no response after a final interview or be left waiting for a call back after a preliminary interview.

Steps If You Get Not Response After An Interview

If you hear nothing back after your interview, taking proactive steps can resolve your confusion and ensure your job search progresses. You should take these steps shortly after the timeframe specified by the interviewer has passed. If the interviewer does not suggest when you may hear from them, wait at least a week before initiating the following steps:

1. Email The Interviewer

Sending a follow-up email is a great way to re-establish contact with the interviewer since they can answer it at any time, unlike a telephone call, so it does not seem intrusive. Following-up in line with the timeframe they gave you also shows you are professional and dedicated to pursuing the position.

Your email should be brief, with just one or two paragraphs. It should also be clear and polite. If you have previously corresponded via email, reply to the last message rather than starting a new email thread, so the interviewer can easily refer back to your email history. Proofread your email for errors before sending it to convey professionalism.

If your email goes unanswered, you can send another follow-up email to confirm the employer received the first one. This should be even briefer than your first follow-up email with no more than a single paragraph.

2. Email The Head Of The Department

If you do not receive a response from the interviewer after several attempts, try emailing the head of the department you interviewed for. As this person has a direct interest in filling the position, they may be more willing to respond to your queries. This email should be brief, with just one or two paragraphs, straightforward and polite. It should have a more formal tone than your previous follow-up emails as you may have not met them in your interviewer.

No Response After An Interview? Here’s What You Need To Do… Read More »

Critical Corporate Value: Timely Responsiveness

Leave a Comment / Blog, Employers, Set Yourself Up For Success

No doubt, you care about our business and the image you put forth for your customers. But what about prospective employees? What do they think of your company? Have you ever considered the possibility that your level of timely responsiveness to job applicants plays a role in how your business is perceived – and thus, how well you recruit and hire top-quality staff?

It’s no secret that we’re in an employee job market right now. Companies are desperate for help. And no doubt hiring is a big concern for you. But do you prioritize calling back job applicants, scheduling interviews, or updating candidates in the pipeline? Effective communication is an essential value every company must commit to. But even companies that understand this often overlook responsive communication when dealing with potential hires.

The Cost of Neglecting Timely Responsiveness

If following up with prospective employees quickly and consistently is not a top priority for your organization, you could be losing out big. Here are a few reasons responsiveness in business matters:

Money: When you fail to move a new hire along or lose out on a top prospect, there are associated opportunity costs like bad hires, open positions, etc.
Branding: Because your track record for timely responsiveness will get around, your reputation as an employer of choice is at stake. Failure to respond to candidate questions can signal a lack of respect and damage your recruiting credibility long-term.
Blowback: The way you handle job prospects through the application, interview, and negotiation processes often determines how you will be treated. If you find a well-qualified candidate, a great way to minimize the risk of being ghosted by that candidate is timely updates and staying in touch.

Timely Communication Matters

While it may seem harmless to push an email back to next week or drop a resume through the cracks on occasion, it’s not without consequence. Data released by interview scheduling SAAS provider Cronofy shows a lack of timely communication can actually be a significant driver in poor hiring outcomes.

A job search can be a very uncertain and stressful time for professionals. It helps reassure top talent when recruiters or hiring managers reach out regularly, even if only to say, “We’re still waiting on an interview time,” or, “The hiring team is still reviewing your qualifications.” Providing that contact and feedback builds trust in your hiring process, the company, and the decision to pursue this job.

When companies neglect timely responsive communication, statistics show, candidates will go elsewhere. According to Cronofy:

62% of professionals in senior positions report having abandoned an interview journey because of frustration with the interview scheduling process.
The interview scheduling experience directly corelates to a prospect’s perception of your company.
A full two-thirds of US applicants expect to hear back about an interview within just one week of applying.
18% of job applicants report responsiveness as the top frustration with the hiring process.

Putting Responsiveness into Action

At Building Careers, we’ve seen firsthand the power of implementing timely and responsive communication in recruiting top talent. While partnering with a recruiting firm is critical to effective hiring (especially in such a competitive market), we’ve observed many if not most recruiters ghost candidates at some point in the process.

As such, simply touching base with candidates throughout the week and addressing concerns early on is a clear differentiator in our field. Quality professionals know when they are appreciated. And they know when they’re not. So, when your recruiting partner or hiring team practices timely responsiveness, they set your brand apart from the others.

As a leading recruiter for the CRE space in Southern California, we’ve seen our network and credibility grow among commercial real estate’s top talent. We believe strongly in the values of open communication, constant communication, and timely communication. As a result, our contacts have come to expect real-time feedback and daily check-ins. And because we also emphasize internal responsiveness, our team is more current and helpful along the way.

Hiring rockstar talent that will take your company to the next level means implementing a comfortable hiring experience. And that hiring experience is only as good as its communication. Any friction in this process will negatively impact the potential hire’s perception of your organization and make it more likely you will lose them to a competitor. Alternately, implementing timeliness and responsiveness in all communications will ensure the hiring journey is smooth, positive, and effective.

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