With cashed up corporate balance sheets and strong earnings growth, employment levels continue to improve across America in 2014. The latest 2014 unemployment rate has declined to 6.1% as of 8/12/2014. Meanwhile, the number of long-term unemployed fell 300,000, the sharpest drop in 2½ years, to 3.5 million.
It’s in the first half where ideally all hiring shall be done because: 1) The best available people are still available. There is a bias against people looking in the 3rd and 4th quarter because rightly or wrongly, companies will be wondering what’s wrong with you for not having found something earlier; 2) Companies need to spend their budgets while they are still available. There’s no time like the present; 3) Hiring an employee at the start of the year gets the most out of the employee, especially if there is a guaranteed compensation package.
If you find yourself looking for a job in the second half of the year, it’s important to hustle a little more or prepare for activity to pick up in the spring. Don’t give up home. Use this time to plan more thoroughly.
I’ve seen over 7,000 resumes in my career and hopefully this article and subsequent articles linked within can help you out. An excellent resume should be standard.
THE IMPORTANCE OF AN UPDATED RESUME
Just the other week, I had breakfast with an old boss of mine who moved on to do different things last year. What I thought was a friendly meet up turned out to be a soft sell on why I should join his firm. “We should talk more next week Sam,” he concluded. “I think you’ll be amazed at what we’re doing here.” I proceeded to discuss my meeting with another old colleague of mine who then said, “Sam, actually we also have a 5 year runway to build something great. You should send me your resume.”
“No problem“, I said. Truth be told, my resume was one year old and needed some updating. But, that’s OK, given the changes were quite minor as I’ve been with the same firm for awhile now.
It never hurts to keep employment dialogues open, even if you don’t currently plan on leaving your company. It’s a courtesy to them, and you never know when someone wants to pay you big bucks for a guaranteed length of time to join their organization! It’s generally I who evaluate resumes, so it was kind of exciting to update my own to send to someone else.
IMPORTANT RESUME TIPS TO KNOW
* The 7 Seconds Rule. The average amount of time a reviewer spends on your resume is 7 seconds and that’s it! It’s partly because we have so many resumes to look at, and it’s partly because we’re lazy. Make sure the top half of your resume pops and everything is clear.
* One Page Resume Or Bust. If you have a resume longer than one page, you just quadrupled your chances of having your resume crumpled and tossed in the bin. More is much less in this situation. Having a one page resume shows that you are concise, clear, and to the point. Again, we only spend roughly 7 seconds on your resume, so don’t bore us with irrelevant details. It’s all about what you’ve done lately, your education, and an interesting fact about you. Anything more and we’ll ask you during the interview.
* Don’t Over Think Design. Unless you are a graphic designer looking for a job, there’s no need to over think the design of your one-pager. Contact info, latest two or three jobs with responsibilities, education, and hobbies done. Segment the page out in titles, use bullet points if you will, and make that one page as simple to read as possible. We really don’t care about what type of font you are using, whether the paper has a thicker weave, and all the nitty gritty details of your latest project. Like blogging, content is king!
* Don’t Hide Obvious Things. If you’ve never had a real job before or are still within 5 years out of undergrad, you better not hide your GPA. Hiding your bad GPA is a 90% guarantee of getting your resume tossed because it shows that you think reviewers are stupid enough to not realize your grades are missing. We’ll start thinking the worst, so don’t hide your GPA! Don’t hide any of your contact details either. That will surely piss off your reviewer if she wants to contact you.
* A Good Resume Is Standard, Nothing Special. A good or great resume doesn’t make the person. You and your interview make the person. A good resume should be standard, which means it’s all the important not to have a bad resume. A bad resume obliterates your chances, and a good resume is the absolute minimum. There is no one golden resume format. It just has to be easy on the eyes. From the examples below, you’ll see that all are acceptable resumes.
* Customize Your Resume As Much As Possible. Don’t use a generic resume for all your applications. It’s important to highlight specific skills, attributes, and experiences you have that would be an asset to your new employer.
* Do The Not So Obvious. If you’ve sent out hundreds of resumes already, and aren’t getting any responses, do something different. Put a picture of yourself up on the top right hand corner. Change your resume color to a green back ground. Make your objective statement a prediction on who will win the Super Bowl and why? Then parlay that with a follow up interview if your prediction holds true. If you aren’t getting any call backs, you have nothing to lose. I guarantee you that if you do any one of the following things above, you will stand out and get the recruiter’s attention.
EXAMPLES OF GOOD RESUMES THAT GET JOBS
I like how Adam states right up front his objectives and qualifications. His resume is easy to read. Unfortunately, there is no GPA, and his work experience isn’t much to write home about, depending on what job he’s looking for. If he’s looking to apply as a restaurant manager, he looks like a perfect candidate. Resume Rating: 8/10.
Edgar has a classically formatted resume which I like. He must be just graduating from business school because he over emphasizes his education, and under emphasizes what makes Edgar the man. We already know Edgar went to Darden b-school if I’m reading his resume, so putting his education at the very top is wasting valuable real estate. Also, I know nothing about Edgar as a person, which doesn’t create any affinity. Resume Rating: 7/10.
Pamela’s resume has almost everything I want to see. I like how she highlights a “Profile” portion up top, lists her experience, and then her education and activities. I would love to know more about what makes Pamela tick. Also, I would consider removing her earliest work experience and expand a little more on her interests. Resume Rating: 8.5/10.
CONCLUSION – A GOOD RESUME IS STANDARD!
A good resume is standard, which also means good resumes are everywhere. If you have a badly formatted resume with glaring holes, your job seeking life is over. You might as well become an entrepreneur or lifestyle design blogger instead, because nobody will be willing to give you a chance since you can’t even present yourself properly on one sheet of paper. Beyond the basics of resume writing, it’s the content which really helps get you an interview and that job.
The economy is picking up and the power is now slowly shifting towards the employee. Good luck!
Recommendations For Job Seekers And Wealth Builders:
* If you’re looking to change jobs: It’s important to never quit a job, but try and negotiate a severance package instead. If you quit, you don’t get COBRA healthcare, you don’t get a severance, you won’t get deferred compensation, and you definitely will not get unemployment benefits. I managed to negotiate a severance package worth six years of living expenses (3 years of salary) after working at my firm for 11 years. I now live stress-free in retirement and enjoy working on my entrepreneurial endeavors. If you are going to quit anyway, you might as well engineer your layoff and see if you can walk away with a nice chunk of change. My book is 100 pages long and pack with information to empower the employee to walk a way with potentially a small fortune.
* Manage your finances in one place: The best way to build wealth is to get a handle on your finances by signing up with Personal Capital. They are a free online platform which aggregates all your financial accounts in one place so you can see where you can optimize. Before Personal Capital, I had to log into eight different systems to track 28 different accounts (brokerage, multiple banks, 401K, etc) to manage my finances. Now, I can just log into Personal Capital to see how my stock accounts are doing, how my net worth is progressing, and where I’m spending my money. The best feature is the 401K Fee Analyzer which is saving me more than $1,000 a year in portfolio fees I had no idea I was paying. There is no better tool online I’ve found that has helped me grow my finances. The sign up process takes less than a minute and it’s free.