What an opportune time for Toronto CFA Society to have offered a career skill-sharpening session earlier this year, with practical exercises to guide you. Judging by the good numbers in attendance where most stayed past the optional luncheon, the event was a hit.

The Art of Networking

Beth Oakes, executive vice president of DHR International, started the session recounting a client’s sudden realization. This person spent the last 10-15 years managing the company and its personnel and suddenly discovered, “I did not manage my career!” His network “went cold.”

The moral is: “keep your network alive!” Create a personal website, publish material, and engage in blogs, discussion forums, and social networking websites. Keep your resume current and work on your “elevator pitch.”

Networking exercise–Perfecting your elevator pitch

What is an “elevator pitch”?

It is a concise, carefully planned and well-practiced description about you that your grandmother should be able to understand in the time it would take to ride up or down an elevator.

What an “elevator pitch” is not

It is not a “sales pitch.” The prospective employer is interested in how you will add value to the business, not why you need a job.

Tips on your “elevator pitch”

• Pique the listener’s interest
• Practice your speech so it does not sound rehearsed
• Be passionate in your tone and attitude

The Art of Branding–The resume is only the first step

Mark Thompson, president of McKinley Solutions Exchange, engaged the audience with some Dos and Don’ts for resumes.

Do emphasize your selling features first. Devote more content to recent jobs.

Don’t use “responsible for” or “I” statements–instead use actively managed words. Also, you do not have to offer excuses for what you don’t have.

Speed networking–Perfecting your interviewing skills

You could risk appearing phoney when preparing for and reciting answers for the type of questions you could be asked during an interview.

This three-step process will help you prepare:

1. Understand what is being asked of you
2. Answer the question and be brief
3. Be specific and provide examples that are relevant to your experience

The crowd then participated by practicing commonly asked interview questions such as:

1. Tell me about yourself.
2. Where do you see yourself in five years?
3. Why should we hire you?

Career transition in turbulent times

Tim Cork, president of NEXCareer and author of Tapping the Iceberg, engaged in a question and answer discussion with Chris Cummins, national trainer and motivational speaker, Richard Robbins International.

Tim emphasized the importance of listening: “We have two ears and one mouth; use them in proportion.” People tend to think that talking means that they are in control. Good listening and asking insightful questions show control.

“Netgiving” takes the work out of networking. Think, “What can I do for that person?” The right attitude makes all the difference; what you give tends to be returned.

Cummins asked, “What if I’m not a good networker?” Cork replied: get experience. Some of his client groups watched him make calls, get rejected, then learn to get over his fear of rejection and failure. Get a partner to help you and motivate you on achieving your goals.

How can you stand out and be noticed? First make sure you get a business card. Then, find out what’s important to people.

For this exercise Tim highly recommends Oh the Places You’ll Go by Dr. Seuss. Write an email or a letter and send the business cards along with something that you feel will be special to your client; Tim sends this inspirational children’s book.

So what are hiring managers looking for? Cork’s book highlights the triple A’s:

1. Attitude includes making the right first impression
2. Aptitude incorporates suggestions of how to attain knowledge and relay that knowledge to customers
3. Action refers to implementing these ideas with a plan and follow up

We are hiring–Recruiting and compensation trends and skills required to excel in these challenging times

After lunch, the following participants took the stage:

• Peter S. Jarvis, CFA, executive director, Toronto CFA Society
• Peter Simon, principal, Spencer Stuart
• Marcia Mendes-d’Abreu, vice president of human resources, Ontario Teachers’ Pension Plan
• William (Bill) W. Moriarty, CFA, president and CEO, the University of Toronto Asset Management Corporation

Peter Jarvis, the moderator, highlighted this second part of the event as featuring panelists that were not professional speakers but rather senior executives from hiring firms–the decision makers.

The panel started by discussing the merits of the CFA charter in these challenging times. Supply of charterholders has been increasing, mostly from India and China. With the increasing numbers of CFA charterholder ranks, our members need to emphasize complementary factors such as leadership and communication skills.

Bill Moriarty talked about the difficult environment for hiring but stressed that even in buoyant times, finding work was not easy. He emphasized the following key themes:

• Know what you want
• Itemize your skill set and how it fits into your employer’s culture (meet people, ask questions)
• Have a plan, persevere and stay committed
• Luck is also a factor

Some approaches:

• Direct approach–know who the decision maker is
• Don’t overlook your network (family, friends)
• Use search engines

The panel discussed ways of keeping a job, given today’s cost-cutting environment where employee costs comprise the most expensive portion. Marcia Mendes-d’Abreu succinctly stated, “Produce, produce, produce–keep an eye on your commitments and results.” Bill Moriarty reminded the audience to always focus on performance and not wait until the cost cutting starts. Peter Simon stressed, “Understand how you are being measured and how your organization extrapolates your role going forward.”

Bill Moriarty also added, “Don’t underestimate the appeal of a polished CV and cover letter.” Dress appropriately, make good, authentic eye contact, and show curiosity.

What about avoiding the common errors during interviews? An interview is an exploration by the company to determine the “best fit” for a position. The most common mistake is talking too much. Peter Simon cited an example where one candidate spoke for 20 minutes without pausing. “An interview is a mutual exploration, not an inaugural address!” Bill Moriarty added, “Make eye contact, show innate curiosity in the role (i.e. ask questions when prompted), and demonstrate that you did your homework.”

Are there any bright spots on the hiring front? Panelists suggested technology, strategic development, marketing, and finance such as credit research. Also consider growing requirements for regulators and risk managers, especially given that the U.S. government had agreed to buy several billion dollars worth of assets they don’t understand.

Thanks to the presenters and panelists, most in attendance are now better equipped to keep their precious jobs and if need be, seek the next great opportunity.