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6.09 Develop A Plan And Execute
- 1. Develop a Plan andexecute, execute, execute Ralph Young Wheaton Executive Network June 19, 2009
- 2. The Situation We’reUp Against Rate of Unemployed & Underemployed to Job Openings Openings 10 Recession Recession 9 8.3 8 7 6 5 4.8 4.5 4.5 4 4.2 4.0 3.0 2.7 3.0 3 2.9 2.5 2 2.0 2.3 2.0 1.8 1.5 1.7 1 1.1 Dec. '00 Dec. '01 Dec. '02 Dec. '03 Dec. '04 Dec. '05 Dec. '06 Dec. '07 Dec. '08 For May ’09, the unemployment rate rose to 9.4% and is expected to go higher Whoa…. Source: Fortune Magazine, April 13, 2009
- 3. The Situation byIndustry Group Applicants to Openings 2008 - 2009 as of April 2009 g in n od de io e ur t Fo en ar n ct ra ct io C ru m e lT & a at nc th uf er st ai el uc al na on an ov et ot Ed He Fi M G C R H 2008 9 3 3 1 2 1 2 1 2009 45 14 4 2 2 1 5 2 On average, for every open position, there are 8 people looking for that job. Resumes to HR Source: Fortune Magazine, April 13, 2009
- 4. Do you havea plan? Job or Career? Assessment, Planning, Goal Setting Contacts, Consultants, Advisors, Your Value Prop, Business Needs & Deliverables: Channels: Strategies Resume, Handbill Strategy Marketing Plan Development opportunities: Build your pipeline Business Development / Networking Evaluate opportunities Interview Negotiate and Close the Deal
- 5. What is theHiring Manager Thinking? …where is my business going? The business …how do I manage turnaround in a down cycle economy?
- 6. What’s going onin the external environment? • Panic / paralysis • Over stressed, over worked, can’t get back to you • The “Rules” are changing • Resources are cut – work remains • Working, but fear - uncertainty - distractions - lack of focus • Fewer recruiter searches • More “Apply” online jobs What does this mean to you in your search?
- 7. Some Business Issues •Managing risk and exposure in: – Loss of key customers or segments of the base – Financial health of customers and suppliers – Access to capital and lines of credit • How can we extend into adjacent markets • Fixed operating costs reduced revenues • Extending the life of existing depreciated assets • How to fill excess manufacturing capacity • Acquiring assets / companies in depressed markets
- 8. Important competencies inshort supply Dealing with Ambiguity Vision / Purpose Korn Ferry says…. Innovation / Creativity Strategic Agility Motivating People Building Effective Teams
- 9. Executive Networking Conversations •Who are you? • What do you want to do? • How can I help you? ….why would a company spend $_ _ _K to bring you in?
- 10. Your Marketing Plan Reach out Your story -Accomplishments calls Recruiters -- wants Who contact you Your Value Approach Prop – Brand* Research Hiring Exec Your Your Networking Deliverable Network – Fit You goal Strategy – Resume Meetings – Strength – Handbill - Meeting goals** - Motivation – Cover letters – Your Profile Job Clubs HR Your Recruiters Commercial * “Brand” is how you show up…i.e., cost control leader vs. cost cutter ** What is the outcome, get the most out of the meetings
- 11. Find companies wherethere is a need to: Create brand and Accelerate merger/ Minimize market customer loyalty in acquisition disruption and highly competitive integration drive profit & growth markets Lower cost of Stimulate top line the product line growth via strategic to increase margin partners & alliances Company Needs Transform IT Be in regulatory operations to shift compliance and business strategy demonstrate control Without a doubt, the most effective “door opener” is the offer of information.
- 12. How do youcreate value* in a business? Lead a sales & marketing Increase sales team end to end revenue Improve productivity while reducing costs Create change that delivers growth YOU Shift a business for from commodity to unique Transform resources to focus on future growth Create points of Take leadership competitive role in your function differentiation * This is your value proposition
- 13. Channels of Opportunity* The Job Job Web Sites Job Clubs Your Personal Network Company Web Sites Friends, work colleagues, family, network contacts, suppliers, network groups, vendors, barber, neighbors… Newspapers Search 80% Firms 20% YOU *This is your networking strategy…Paper to People and People to People
- 14. Job Search Clubs Mass Networking Your contact introduces you To another Your Contact w/Job Pitch You follow up With the contact Someone will Voice to Voice or personally Face to Face Someone “knows” refer you to a Someone a contact With Contact w/Job has a contact A Job at the name at target target company company …The barrier to success.
- 15. Using Your Contacts Contact/Networking Model A. Investors Boards Stockholders Accountants Capital Inputs C. Recruiters Material/ Service Target Suppliers/ Suppliers Inputs Company Inputs Industry Groups Vendors Consultants Outside Markets Attorneys Customers Competitors Agencies Associations B.
- 16. Contact Waterfall Contact Poolof People You Know – all sources 100% 50% Qualified Leads – Ready/Able to help you 33% Qualified Leads that agree to Help Qualified Leads who create Opportunities 50% Leads that result in a Job 2-5% Job searching is a numbers game…
- 17. Summary…Thinking outside theToolbox • Anticipate the business environment and work situation • Translate your experiences into your Value Proposition • Be prepared to articulate the ‘symptoms’ of the kind of company or environment you seek • Focus on what you know is the real need of the situation • Be a ‘company seeker’ rather than a ‘job seeker’