financial services talent network new jersey job clubs presentation 1
TRANSCRIPT
Financial Services Talent Network
New Jersey Job Clubs Presentation
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AgendaWelcome & IntroductionOverview of Financial Services IndustryBenefits of Financial Services• Is Financial Services Right for Me?• Introduction to NJ Talent Networks / FSTNConnecting with Financial ServicesCareer/Job Search Guidance Networking- What, How & Why Today’s Job Market Understanding On-line Recruiting Interview Preparation Time & Space in Recruiting
Additional Resources
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NEW JERSEY’S TALENT NETWORKS
Talent Networks are being built to partner with six key New Jersey industries: Advanced Manufacturing, Transportation Logistics and Distribution, Life Sciences, Health Care, Technology/Entrepreneurship and Financial Services
These six industries were selected because they have job opportunities throughout the state and have demonstrated the ability to expand and create more job opportunities. They offer jobs that can lead to careers and they offer family sustaining wages
The Talent Networks, led by six organizations, are in the process of building partnerships with employers, education al institutions, job seekers and LWD staff. The Talent Networks are funded by the state but are able to make independent decisions.
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Our Mission
The Financial Services Talent Network will assist the industry in its ongoing efforts to source and hire skilled talent for its entry level and mid level job
openings by:
Recognizing that the Financial Services employer is our most important stakeholder
Expanding the effort required to fully understand the current management challenges and opportunities faced by employers
Working closely with educational institutions to develop and deliver training that will be put to good and immediate use
Partnering closely with One Stop Career Center and WIB staff Establishing credibility with job seekers
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Benefits of a Career in Financial Services
One of the Industries identified through NJ Department of Labor’s research as key to NJ’s economic growth and future
Offers a wide variety of career paths
• Opportunities for training, advancement and promotion from within
Strong employee benefits Health benefits 401k & matching Pre-tax healthcare spending accounts Pension Training & development opportunities Tuition reimbursement
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Is Financial Services Right for Me?
• Am I comfortable in a culture that is fast paced, results focused, intellectually challenging, rapidly evolving and change oriented?
• Am I comfortable with learning and processing complex content within an environment that will be willing to develop and train me ?
• Do I understand how the industry makes money?
• Do I like and have the skills necessary for sales?
• Do I like and have the skills to provide outstanding service to customers?
• Do I like and have the skills for operations and process management?
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Financial services talent network website
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What is the Financial Services Talent Network (FSTN)?
Your anywhere/anytime resource for researching and identifying careers and information related to the financial services field
Learn about the detailed educational requirements for specific roles and which educational institutions to leverage
Identify and locate Financial Services firms within the state
Get updates on relevant industry news
See the latest Hot Jobs in the field
Review relevant industry jobs data
Access information on key industry events for networking opportunities
Join the FSTN LinkedIn Group to participate in job search related discussions or to share your own market intelligence
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Connecting with Financial Services
The Financial Services Talent Network and its website are resources to assist with this type of research.
Lots of information on-line regarding career options in the industry.
Financial Services Career AdvisorWhy Financial Services?
Go on financial services company websites (careers) to read and familiarize yourself with job titles and job descriptions.
Tap into Alumni networks, LinkedIn groups, local networking groups, industry associations
Network with others in the field to learn about the “real story” of a position in this field.
Research and attend Industry Job Fairs NJ Job Fairs
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Developing a Job Search Strategy
Within your target industry, research available career paths and job titles Develop a 2-3 sentence marketing pitch about your specific career
objectives Network for input and feedback on career and position targets, test your
“pitch” Outline draft resume, solicit feedback or invest in professional service,
review Jobs4Jersrey resume building service on LWD site. Based on your industry and geographic goals, identify target companies Go to company career websites, review job titles and read descriptions Identify key words and phrases in target positions and make sure your
resume contains these Job matching through Applicant Systems is always based on key word
searches Submit your resume to specific positions and /or register on the employer’s
site by posting your resume generically Check back with each site periodically to keep your resume updated
Review My Skills My Future and New Jersey Career Assistance Navigator/ to investigate career options
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General Job Search GuidanceLooking for a job, is a full-time job!
Requires focused commitment and a well developed strategy
Requires research and preparation, “blocking & tackling”
Develop weekly plans and daily “to do’s”
Companies see every new hire as an investment
Most will prioritize those who are seeking a career vs. just a job
Balance your job search time with exercise and fun to keep your mind and spirit refreshed
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Job Search Tips for Financial Services
Financial Services is a professional services industry:
Companies will screen for a strong sense of professionalism through every step of your process, i.e. resume presentation, phone screen, appearance, interview preparation and performance, speech, etc.
Prepare by researching the industry on-line research (examples)join Financial Services groups on LinkedIn (examples)join FSTN LinkedIn Group
Develop a search strategy to includeNetworking to research career options and ask questions,
then later to explore career opportunitiesTechnology to leverage information and efficiency It does
offer valuable entry level positions12
Networking- What, How and Why?
Networking: It is not asking for a job!Networking is developing and leveraging professional and
industry specific contacts for information, feedback, advice and other contacts.
Requires you to be clear about what you want from each contact. i.e. feedback on resume, testing your fit for different career options, sharing your pitch so that your initial contacts will be armed to make additional contacts for you.
Networking in today’s environment is a well understood and accepted approach.
Most folks are open and willing. Request can be for phone or “face-to- face” but no more than 20-30 minutes.
Something in it for everyone…building each others network.
Ask if there is anything you can do for them.
Don’t get discouraged! It’s like dating, you won’t get a number every time.
Never a waste of time, practicing your pitch and how to market yourself.
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Other Networking Tips
Don’t rely strictly on LinkedIn!Start with people you know- practice, practice,
practice! You want results not just activity.
Send thank you for Networking meeting within 24 hrs- email is fine.
Social networking is a simultaneous tool. Leverage LinkedIn or Groups on LinkedIn focused on Financial Services, Alumni Groups (school and employer).
Watch local papers for Networking Groups in your area.
Job Fairs are a great place to Network
Benefits of Job Fairs“one stop” shopping, overviewsdo your research ahead of time, know which companies will be therenetworking with others in your fieldpractice, practice, practice!
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Nuances of todays job market
Regardless of the length of your unemployment insurance, you need to get started ASAP!
It is a question of supply and demand (4 job seekers for every job)
Differentiation is key!Be prepared to share details of your job search strategyBe open to temporary assignments, project or
consulting workThink about vendors supplying service to Financial
Services firms, (Account Temps, IT consulting, etc.)Compensation structure in consulting and temporary
work will be different, expect to make less initially but many of these assignments can be a “good foot in the door”
Technology and the internet are key to the hiring process for most big companies- do not underestimate their power and importance
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How to think about on-line recruiting sites and tools
Typically you can apply to specific openings or post your resume on your target company’s site for future job matches
Always select option for them to keep your resume in their database.
THIS IS NOT A BLACK HOLE!
Not a “human path” in but your odds of matching to a position are in fact significantly increased-if your resume aligns with job description key word language
Tailor resume if you need to (only the truth, don’t make things up to align)
Posting your resume is not “once and done”, you are in their system and could be matched to future open roles
Once resume is on the company site be sure to keep it updated
Watch email carefully, this will likely be a chosen communication tool
Some companies will send an “acknowledgement”, some won’t
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Why post resume on company sites?
Companies do search their own databases first- why wouldn’t they?
It’s a database of people who have expressed interest in working for the company already.
It doesn’t cost them anything.Faster development of candidate slates.Companies track this as an indicator of the
effectiveness of their employment brand. With time and patience - it works!
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Interview Preparation & Follow-upDo your research on the company-no excuse with the
Internet!
Know their business, their products, how they make money, their competitors and competitive advantage
Practice your “pitch”, prepare and rehearse 2-3 key bullets about each of your previous roles that highlight your match to this role
Prepare your strengths and weaknesses
Use your network contacts to help you prepare
Don’t think about weaknesses as flaws but as continuing development needs (i.e. delegation, prioritization, multi-tasking, etc.)
Prepare 2-3 meaningful questions. Remember you are assessing them too!
Don’t worry about covering the same ground and questions with multiple interviewers.
Preparation will help you to be confident. Confidence without preparation is cockiness.
Email a thank you to all interviewers within 24 hrs., mention something you took away from the interview
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Time and Space in Recruiting
Wait time is always longer when you are the one who is waiting!
Keep in mind the recruiters are generally working on 30-50 positions simultaneously.
Recruiters do not control the whole process.
They need to wait for managers and HR to reply on interest in screened resumes, availability for interviews, offer details, etc. - for all candidates, not just you.
Managers still have a full time job beside filling their open positions.
Many folks will say they will get back to you and often they don’t.
Don’t take it personally.
Human nature says that most people are not comfortable giving feedback.
This doesn’t mean you shouldn’t ask for feedback but manage your expectations and really pay attention when you do get it!
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Additional Resources
• Department of LWD site: www.lwd.dol.state.nj.us • Jobs4Jersey site: www.jobs4jersey.com • Financial Services Talent Network:
www.FinancialServicesNJ.org • FSTN LinkedIn Group• Financial Services LinkedIn Groups• Alumni LinkedIn Groups (school & company)• MySkillsMyFuture.com• NJ Job Fairs• Using Social Media in your Job Search
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Questions and Comments
Financial Services Talent Network Website:
www.FinancialServicesNJ.org
Robert Crawford: [email protected]
Marion Dino: [email protected]
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