Mellody Hobson, president of Chicago-based investment firm Ariel Investments, will be moving into a role as Starbucks’s vice chair following Executive Chairman Howard Schultz‘s departure on June 26.
A Chicago native, Hobson worked her way up after joining Ariel as a college intern in the 1990s, going on to become the company’s vice president of marketing, then a senior vice president, and eventually president at the firm. Ariel’s holdings include MSG Networks, Northern Institutional Treasury Portfolio, First American Financial Corp., and Kennametal, among others.
Throughout her career, Hobson has made financial literacy and community outreach a priority. Currently, she serves as chair on the board of directors of The Economic Club of Chicago, as well as chair of After School Matters, a Chicago nonprofit that provides teens with out-of-school time programs.
Continue onto Fortune to read the complete article.
Commission can be a confusing topic for anyone, whether you’re great with money or not. Maybe you’re considering a job with a commission structure or are currently in a field where commission is a big chunk of your compensation.
If you’re not sure how it all works in the business world, we’ll break down the concept so you come out a little wiser than you were before.
What Is Commission?
Commission is additional compensation that’s earned based on job performance. When you agree to a commission-based role or commission structure (often by signing an agreement), you agree to be paid a certain amount of money that’s dependent on hitting some goal—goods sold, meetings closed, hires placed, to name a few examples.
What Kinds of Jobs Work Under a Commission Structure?
When you think of commission, your mind immediately goes to a sales-type role (think of a retail salesperson trying to get you to buy that extra pair of jeans). Commission is popular in most sales jobs because their responsibilities are heavily tied to a company’s revenue goals. Having the opportunity to earn commission—sometimes a hefty amount—motivates those individuals to hit or get close to their quarterly or yearly goals.
But commission can pop up in other places, too. In recruiting, you’re often provided a commission on each candidate you successfully place—usually a percentage of their annual salary. As an account manager, you can earn commission on clients you upsell or renew for the year. And in real estate you can get a cut of the money you make selling a property. In fact, in some roles commission makes up almost all of your compensation, meaning your income is variable and highly dependent on your output.
When Is Commission Paid Out?
It works differently at every company, but in general commission payment can be distributed monthly, quarterly, or yearly, depending on a company’s structure and when commission is considered “earned.”
For example, a company may define commission “earned” for a salesperson as when the new client signs a contract. This means that the employee who sold the deal won’t get their commission until a signature is collected and the deal is verified (which usually means they double check to ensure the right salesperson is compensated and the overall transaction is clean and accurate).
Another example: In recruiting, typically commission is earned when someone is hired and stays at the company for a period of time, maybe three or four months. If the new hire leaves before then, the recruiter doesn’t get the commission.
How Is Commission Calculated?
Commissions can be calculated by a set percentage or by a formula. As mentioned above, a recruiter generally gets a percentage of the new hire’s starting salary (usually 10 to 20%), while sales people may have a formula-based commission structure.
Take this scenario. In sales, your total compensation could be 50% base salary and 50% commission. So if your total yearly compensation agreement is for $100,000, $50,000 of that is guaranteed for the year and $50,000 is based on how well you perform. You may earn less than the $100,000 if you don’t reach your goal, but you may also be able to earn more than that number as long as your company doesn’t have a cap or “ceiling”—meaning the point at which an employer stops paying you more commission.
But a company may use an upward sloping curve to decide commission (where you’d earn less than 60%) because they want to really incentivize employees to get as close to their goal as possible—and to even exceed it and make a lot more money. What can be frustrating about this, of course, is that it’s not an easy formula to follow, so it’s not entirely clear what your commission will look like until you receive your paycheck.
They could also use a tiered model (the staircase line). This means you earn the same dollar amount of commission until you reach a certain percentage of your quota, where it jumps up in amount.
There may be other exceptions when you can earn more than the formula typically allows. If you sell a deal where the customer signs on for two years or a special kind of product, for instance, you may earn extra commission for that.
There’s also a concept called a “minimum performance threshold” or “floor,” which is common for more senior-level employees. This basically means that the person must get some percentage to goal in order to start earning any commission—the understanding being that a certain level of underperformance is unacceptable.
If you’re unclear as to how your commission is calculated, talk to your HR or finance departments, or your boss or team lead.
What Happens if I Leave a Job Before Getting My Commission Check?
Whether or not commission is owed to an employee after they’ve been terminated or left a role depends on a number of factors, including what’s defined as “earned” between the company and the employee and state wage law (you can see your state’s rules and regulations around wages here).
Continue on to The Muse to read the complete article.
Here’s advice on overcoming the mental roadblocks employment gaps create before they sabotage your job search, from those who’ve been there.
William Childs loves his new job. He is Marketing Director at Kitchen Magic, a growing national kitchen remodeling and cabinet refacing company. “This job is a creative person’s dream. The product, the people, the collaborative ideas we are generating, it’s totally amazing,” Childs says. “This is what I spent my 14-month employment gap searching for, and I am so glad I didn’t give up on my career goals.”
Employment gaps do not define you
According to a recent Randstad U.S. study, the average job search today takes about five months. When Childs was laid off late in 2017 from an executive-level marketing job, he did not anticipate a longer-than-average employment gap. He explained: “When my old job was eliminated, it was the first time in many years that I had no specific job to go to next. I had always benefited from people just knowing me and my work, so starting from scratch while unemployed felt pretty weird.” When a few leads at the beginning of his job search didn’t materialize, he felt a bit demoralized.
According to a 2019 Monster survey, 59 percent of Americans have had an unexpected gap in their career. For a lot of people looking for jobs with a gap on their resume, there can be internalized feelings of shame, says Michael “Dr. Woody” Woodward, Ph.D., organizational psychologist, CEC-certified executive coach, and author of “The YOU Plan.” “Shame puts on a lot of added pressure to an already stressful time, which can lead to obsession,” Dr. Woody explains. “Don’t victimize yourself over a lost job or a failure in the past. It can be debilitating.” He advises readers to recognize their setback as just that, a setback — then deal with it and move on to better things.
Childs did keep moving forward. He designed an online portfolio and kept adding to it during his hiatus by taking on freelance work. He wrote for an online magazine and volunteered his talents to local non-profit groups. A year into his search, he took an advertising sales job as he continued to apply for positions. “The sales job was what I needed to do financially, and what I needed to do for my own piece of mind,” he reflects. “I was earning income, learning, and connecting with people. It helped me a lot.”
While he did not give up on finding an innovative executive marketing position, Childs needed ways to stay focused and positive on his continued career search. When it comes to overcoming the mental roadblocks employment gaps create, the following advice can help keep you more focused, motivated, and confident.
1. Honesty really is the best policy
Susan is happily employed in Reno, Nevada at The Slumber Yard, a specialty online clearinghouse of reviews, comparisons, and deals for mattresses and bedding products. Prior to taking the job last year, this mattress review specialist (whose name has been changed for this piece) had left the workforce to care for her young son after he was injured in a serious accident. When she was ready to re-enter the workforce, Susan crafted a very targeted resume and cover letter that succinctly addressed her employment gap. Still, the two-year pause in her career had her a little nervous. “I wasn’t exactly sure what the job market would be like for me,” she remembers.
“Her resume had everything we were looking for, and when she told me why she had a gap in her employment history, her honesty really impressed me,” says Matthew Ross, The Slumber Yard’s Co-Founder and COO. Ross immediately called Susan in for an interview. “Her experience and knowledge of our industry are what got her the job. But, the way that she explained her employment gap really showed her character, both as a person and as a professional.”
You can explain your employment gap without oversharing, says Dick Lively, Partner and HR Consulting Director at RAI Resources in Bethlehem, Pennsylvania. “On a resume or in a cover letter, saying you took time to care for a family member who was ill or that you relocated across the country for your spouse’s job should be enough detail. Keep it professional but not too personal,” he says. It is also OK to exclude a gap explanation from the resume altogether, so long as you are prepared to address it during the interview if you are asked. Just don’t make something up. “At the end of the day, the truth always comes out, explains Lively. “You don’t want to face a potential employer or a new boss and try to explain why you lied.”
2. Don’t stop networking
Your first instinct may be to hide away until you have a new job, but that will not help your efforts. In fact, it might even hurt them. Keeping your name and face out there can help you get an introduction to a hiring manager. Plus, it’s great practice for interviews. “For me, I talked about the creative process and exchanged ideas; it helped me formulate how to best present myself as a job candidate,” says Childs.
Lively suggests that you don’t wait too long after your last job ends to start networking: “It is not only important to get your name out there and to hear about jobs that may be coming up through the grapevine,” he explains. “You also need to talk shop and connect with people. The longer you wait, the less confident you may feel. Interpersonal skills need to be kept sharp, just like any other skill.” That said, it is OK to take a few days or even a couple of weeks after your last job ends to regain your composure before you start networking. The last thing you want to do is get emotional about your job loss in front of your professional connections.
3. Expand your network
As valuable as your tried-and-true network of professional connections is, Dr. Woody cautions that you shouldn’t always drink from the same well when you are trying to find a new job. “Always networking with the same group of people can put blinders on your job search or create an echo chamber where you keep repeating the same steps that aren’t working anymore.”
Expanding his network definitely helped Childs. “Learning about new businesses and how they do things and connecting with new people is very inspiring,” he says. Telling new people a bit about yourself helps remind you about your talents and experience. You don’t know what else is out there if you don’t ever mix things up.
4. Own your truth
“You can, and should, use a positive spin when talking about your experiences,” says Childs. During an interview or a phone screening, don’t try to hide what caused your employment gap. Don’t complain or point fingers either. Tell your story concisely and truthfully, ending with what you learned or what you have gained since. When Childs interviewed with his new employer, he was prepared to lay his cards on the table when the question came up about his resume gap. His honest, three-sentence elevator speech consisted of:
I was laid off when my department was eliminated.
I am now doing advertising sales. It’s not me, but it’s a job, and I am proud of the quality of work I do.
I have learned a lot about customer service through this sales experience, and I can apply that knowledge to my next marketing and creative position.
Dr. Woody believes this kind of planning is invaluable: “Preparation builds confidence. Working on your narrative reminds you that you have talent and have a lot to offer an employer. Taking time to boil it down to a concise summary instills it in your mind. This is who you are.”
5. Keep up a motivating routine
For years, Childs has emailed daily “Thought Bombs” to colleagues and friends. These are quotes he has collected on creativity, inspiration, and business integrity. Throughout his 14-month job search, he committed himself to continuing this morning ritual. “It got me up and thinking, ready for the day,” he says. “On my worst days, I would tell myself, ‘All I gotta do is get out of bed and deliver the Thought Bomb,’ and it really helped me get moving.”
“I really love this,” says Dr. Woody. “He used this routine to get himself into the right mindset each day. He had a purpose that was of value to his mailing list, and the discipline it took to do this daily task set his whole day in positive motion.” For other people, the routine could be mediation, exercise, journaling, or some other daily ritual.
6. Concentrate on the connection
Childs kept himself well-versed in the current ideas and trends in his field. His knowledge and passion for his work inevitably crept into his cover letters and interviews. “People are much more engaged with stories that are filled with excitement, passion, and personality,” says Childs. “Bragging and standard-issue talking points get stale quickly, but if you can connect with someone about what truly motivates and inspires you, they won’t forget you.”
Coming across as arrogant or whiny is a red flag for employers, notes Dr. Woody. But sharing insights and understanding about your field is a way to help them envision working with you. It also helps them put your employment gap into perspective in relation to your qualifications and talent. He explains: “People remember more about how you made them feel than about the specifics of what you said.”
Continue on to Top Resume to read the complete article.
Diversity and inclusion have become buzzwords in today’s corporate world. But diversity and inclusion must be more than a paragraph in a brochure, a few sentences on a website, or an occasional reference in the employee newsletter.
Firms need to fully embrace these values to reap their true, resounding benefits. But what does an intrinsically diverse company look like? Without being forced or contrived, contemporary companies thrive with a fundamental understanding of ways that employees from all walks of life make the office a better place to work.
A diverse workforce does more than offer varied employee perspectives; it changes the makeup of a company from the inside out. In fact, research shows that ethnically diverse companies are 35 percent more likely to earn above-average revenue and 15 percent more likely among gender-diverse companies. Clearly, there are reasons reaching far past the surface that make diversity and inclusion in the workplace so important in 2019.
The rise of the Internet and social media has brought us closer together, allowing us to share more with a larger global audience. As such, companies are also sharing more about their inner workings, specifically showcasing their workplace culture. With an extremely clear vantage point inside your business, any person can see what your company is about at any point in time.
Your reputation as a diverse brand truly depends on the extent to which you are willing to fully implement the concept into the day-to-day. When your company mirrors the world around you, the realities, insights, and experiences of the collective are embedded into the way your firm does business. And today, people want to work with those they can relate to. The company that truly represents everyone effectively markets to different socioeconomic groups, races, and genders.
Better Service for Your Clients
As part of the expanding global market, clients are no longer one-size-fits-all. According to Rosetta Stone, bilingual employees earn an average of 10 percent more in revenue for their respective companies. Furthermore, employees who speak different languages or who are familiar with other cultures are an asset to national and local corporations alike. As clientele diversifies, your workforce should as well for your customers’ benefit and your own.
Diversity Goes a Long Way in Recruitment
According to Glassdoor, now more than ever, people value diversity as one of the top qualities in a potential employer. Rather than hiring from the same pool of candidates, firms that expand their search to include different schools, environments, and geographic areas have a larger selection of people with various specialties. In recruiting and retaining a diverse workforce, companies will have a wider appeal to candidates who otherwise might not have applied.
Innovative Ideas Come from Diverse Groups of People
It goes without saying that different ideas come from different groups of people. Creativity and innovation are aspects that every office needs to be successful.
As one of the main catalysts for both of these attributes, diversity fosters growth that spans across every sector of the company.
In fact, research from Michigan University shows that groups with members from different backgrounds solve problems faster and more effectively. A clear example of innovative ideas generating solutions, this study— Groups of Diverse Problem Solvers Can Outperform Groups of High-Ability Problem Solvers—shows the value a diverse team can bring to your company. With a wider pool of perspectives, teams reach solutions more easily through creative, collaborative thinking.
Retain More of Your Employees
The gig economy is alive and well. According to Mercer.com, people leave jobs at a faster rate than they ever have before. Employees will likely be more inclined to stay at companies where they feel valued, heard, and understood. Fostering growth for more people in your company, regardless of their background, is something everyone can get behind.
In making everyone feel included and represented, more employees will mirror the investment. People want to work for companies that make the effort and look out for their employees’ best interests; committing to diversity is in everyone’s best interest.
About the Author
Francisca Brown is the Senior Director, African-American Multi-Cultural Market Strategy, at Northwestern Mutual.
Not only is the Women’s Business Enterprise National Council (WBENC) the largest certifier of women-owned businesses in the United States, but it is also one of four organizations approved by the Small Business Administration (SBA) to provide Women-Owned Small Business (WOSB) certification, as part of the SBA’s Women-Owned Small Business Federal Contracting program.
Each year, the federal government sets a goal to award at least 5 percent of all federal contracting dollars to certified Women-Owned Small Businesses (WOSBs), particularly in industries where WOSBs are underrepresented. Becoming a certified WOSB and joining the SBA’s contracting program ensures your business is eligible to compete for federal contracts set aside for this program.
Who is Eligible?
To be eligible for WOSB certification, your company must:
Be at least 51 percent, unconditionally and directly, owned and controlled by one or more women, who are U.S. citizens.
Be “small” in its primary industry in accordance with the SBA’s size standards for that industry. Use the SBA’s Size Standards Tool to check your industry.
Have women manage day-to-day operations and also make long-term decisions.
What Are the Benefits?
Becoming a certified WOSB and participating in the SBA’s WOSB contracting program allows your business to compete for federal contracts within a more limited pool of other qualified WOSBs, thereby increasing your chances of winning business.
These contracts are for industries where WOSBs are underrepresented. Check out the SBA’s list of eligible industries and their NAICS codes.
How Do I Get Started?
If you are already a WBENC-Certified Women’s Business Enterprise (WBE), you can easily apply for WOSB certification as part of your recertification process at no additional charge.
Before starting the application process, please review the criteria for certification and ensure you meet the SBA’s size standards for your industry. When you are applying for recertification, select “Yes” to the WOSB certification question and upload the documents labeled “WOSB Applicants.”
If you are a women-owned business and not yet certified by WBENC, take a moment to read about the benefits of WBENC Certification to see if it is a fit for your business. WBENC is the nation’s largest certifier of women-owned businesses and our world-class certification standard is accepted by more than 1,000 corporations representing America’s most prestigious brands. If you choose to apply for WBENC certification, you can apply for WOSB certification at the same time.
It’s important to note that once you receive your WOSB certification, you still must complete additional steps to participate in the WOSB Federal Contracting program, including providing proof of certification information through certify.SBA.gov, and updating your business profile at SAM.gov to show contracting officers that your business is in the women’s contracting program. Check out SBA.gov for details.
Where Can I Learn More?
Visit wbenc.org/government for details on the WOSB certification process, documentation required, and frequently asked questions.
For more information about the SBA’s WOSB Federal Contracting program, visit SBA.gov.
“Where do you see yourself in 5 years?” When a hiring manager asks you this, there may be a few things running through your brain. “Moving (way) up the ranks,” “running this place,” “working for myself,” or “in your job,” for example. None of which are necessarily things you should say out loud in an interview. So, how do you answer, “Where do you see yourself in five years?” This can feel like a bit of a trick question, because sometimes the answer is, “not in this job,” or, “in your job,” or something like, “at a bigger better opportunity elsewhere.” But none of those are things you actually want to say to a hiring manager.
The good news is you can be honest while still telling them what they really want to know. Do you have realistic expectations for your career? Are you ambitious? And does this particular position align with your growth and goals overall?
For example, one way I like to think about it is: Think about where this position could realistically take you, and think about how that aligns with some of your broader professional goals.
So, for example, you might say, “Well I’m really excited by this position at Midnight Consulting because in five years, I’d like to be seen as someone with deep expertise in the energy sector, and I know that’s something that I’ll have an opportunity to do here. I’m also really excited to take on more managerial responsibilities in the next few years and potentially even take the lead on some projects. I’ve been lucky enough to work with some amazing managers, and so developing into a great manager myself is something I’m really excited about.”
Continue on to The Muse to read the complete article and view the video.
It has been more than 30 years since Riverdale star Robin Givens walked away from an abusive marriage, the traumatic union dissolving in a highly publicized fashion. While it’s a chapter she doesn’t feel the need to dwell on, she has used the experience, along with her platform, to assist and empower fellow survivors of domestic violence and raise awareness for the cause.
Her advocacy has included service as a spokesperson for the National Domestic Violence Hotline, working in support of the YWCA USA (a leading provider of domestic violence and sexual assault programs and services) and DV Leap, which fights to advance legal protections for victims of domestic violence. Givens also serves as a keynote speaker, donates supplies, and makes personal visits to shelters.
It’s an admittedly hard thing to do, and Givens acknowledges that after decades of dogged involvement, she has eased up on revisiting the past to focus on the future.
“I’ve been fully involved for almost 20 years, and it’s not an easy thing to do, because I have to travel back in time,” she says. “When I went through that moment in my life, I was younger than my oldest son—I was a baby! I don’t want to walk around with the weight or badge of that—no one does. I’m ready to live, thrive, and be all that God intended me to be.”
Her eyes may be set toward the future, but her hands remain behind to uplift those battling their way through a storyline she knows too well. It is, she accepts, a part of her purpose.
“We all wrestle with our purpose,” she says. “But why go through something if you can’t use the experience to help someone else? It can be hard, sure. But I try to do what I can, as much as I can, whenever I can.”
Her message to those who are facing or living in the aftermath of abuse is clear, concise, and urgent: “You are not alone, and it is not your fault. You have to leave to be safe. And when you get out, and you’re tired of living just to survive, turn your focus to thriving. Now is your time.”
The Power of the Post
After a recent appearance on the Wendy Williams Show, Givens was asked if she could imagine going through her tumultuous marriage during the age of social media—wouldn’t it have been crazy?
Her first thought? That time in her life couldn’t have gotten much crazier. Her second? That actually, a social media presence might’ve proved to be a useful tool in showing her she wasn’t alone and convincing her to leave earlier.
“I look at the impact that social media has had on the #MeToo movement, and I think the domestic violence issue is closely aligned in that it involves an abuse of power, and there really is something to social media when it comes to speaking your truth,” she said. “I say it’s wonderful in that you can stand up for yourself—if someone says something about you that isn’t true, you can just hop on Twitter or wherever and say your peace. Your voice has a platform, and there’s extreme power in that.”
Givens is far from labeling the societal mainstay as an absolute positive, though, admitting that society’s fascination with the image of perfection has definite setbacks. As a mother, she laments, thinking about the pressure young people in general and her sons in particular must feel to look a certain way and portray a perfect life.
“It’s a tricky thing, and I’ve played it from multiple perspectives—from being out of the spotlight and not caring in the least about followers or posting to being told I need to boost my engagements and post multiple times a day. It’s really hard to wrap my head around,” she says. “When it comes down to it, there’s an upside and a downside to social media—that’s where balance comes in, and we have to do our best to navigate the waters.”
It’s a balance Givens is learning to measure with increasing precision as she spends more and more time in the digital space promoting her current show, Riverdale, and hosting upcoming projects.
True to form, Givens never planned on landing a role on the hit show Riverdale as the town’s mayor. It’s an opportunity that found her in Houston cheering on her youngest son at a tennis tournament, of all places.
She’d spent the last few months easing back into acting after being challenged by her publisher to make herself her own project.
“It was actually pretty funny. My children were older and preparing to leave the nest, and telling me, ‘you’re always around mom, go do something,’ and I’d respond, ‘you’re what I do—what do you mean?’ So, when I received the call from my agent asking me to come out to audition, I didn’t think twice. I flew out, read, and by the end of the day, I had a job.”
Based on the Archie comic strip, Riverdale follows the life of teenager Archie Andrews and his high school exploits in the seemingly idyllic town. If you’re expecting the cookie-cutter storylines of comic strips past, though, you’re out of luck.
“I grew up in the age of Archie and the Pussycats and the whole gang, and I loved them, but in no way is this the Archie I grew up with,” she said. “The creators were brilliant in bringing everything current and dealing with issues that our youth are facing today.”
The best part of the remake by far—and what Givens is most proud of—is the diversity of the cast and the ease with which it’s accomplished.
“The thing I love most is that when you look at the show, you have black people and white people and gay people—so many people are covered, and it’s done effortlessly. It just looks like the world is supposed to look and moves the way the world is supposed to move.”
Riverdale isn’t the only role on her radar. As Givens continues to answer passion’s call, the upcoming projects are starting to stack up.
She stars on ABC’s newly premiered series The Fix, a legal drama co-written and executive produced by Marcia Clark (lead prosecutor in the O.J. Simpson case) that centers on a famous prosecutor searching for redemption and justice after losing a case and freeing a killer years earlier.
Givens is also set to lead an ensemble cast in OWN’s upcoming family drama Ambitions, produced by prolific producer Will Packer and set to premiere later this year.
What’s next on the list? Without a doubt, Givens has her heart set on two future goals: authoring another book and finding her way back to Broadway. Those plans aren’t written in ink, though—she knows they’ll manifest when they’re meant to—and not a moment before.
“It’s not necessarily part of a plan—those are just things I feel it’s important to do for me,” she says. “I’m at a point in my life where I realize that my happiness and passion for life is more important than having what people deem to be a ‘successful’ career; I’m just going with the flow and working on being the best, healthiest, and most well-rounded person I can be.”
God, truth, authenticity, and yoga. It’s a tried-and-true combination that has seen Givens through her highest peaks and deepest trials.
She’ll be the first to admit that had just one circumstance changed along her journey, life would’ve looked completely different. If her mother had anything to do with it, we’d have never known Givens as the femme fatale Imabelle in Rage in Harlem, the unapologetically feminist Jacquelyn Boyers in Boomerang, or the militant Kiswana Browne in The Women of Brewster Place—we’d be calling her Dr. Givens instead. But, despite the rollercoaster of ups and downs, she acknowledges her path has molded her into a woman she is proud of today.
“I’m very much a work in progress, and it’s hard to say I’m happy for all the difficulty I’ve experienced in my life, but it’s a big part of who I am now,” she says.
“I truly believe there is opportunity in adversity,” Givens continues. “When we find ourselves in the midst of a storm or some unimaginable circumstance, those are the moments to push and stretch to become all we were intended to be.”
Some job listings will say “cover letter required,” while others don’t include any mention about it at all. When it comes to the ladder, many applicants often wonder, Should I submit one in anyway?
It’s a competitive job market out there, and hiring managers and job recruiters today spend about six seconds reviewing each resume. According to Glassdoor, a job search and salary comparison website, approximately 250 resumes are submitted for each corporate job listing, and only five or so candidates will be called for an interview.
So when is it necessary to send a cover letter? Here’s the thing: Hiring managers love them — they get you noticed quickly, show you’ve gone the extra mile and demonstrate how much you really want the job.
A bad cover letter, however, can hinder your objectives.
Don’t submit a cover letter if…
1. You have no interest in personalizing the cover letter
Many applicants will Google “cover letter examples,” pick one in a rush and model their cover letter after it. By doing so, not only will it be evident that you submitted a cover letter designed for mass distribution, but you might have overlooked some mistakes, like addressing the letter to the wrong person, company or even listing the wrong position you’re applying for. (Trust me, this is something hiring managers see all the time, and it’s absolutely cringing. It also takes away from their valuable time that could be spent reviewing your resume.)
2. You don’t have anything new to say
Hiring managers expect to read a compelling and impressive cover letter, not an exact replicate of your resume. (Think about how you felt when writing your personal statement for all those college applications; it was a big deal and you knew the admissions office were looking for someone who they’d feel proud to have representing their school). It’s no different with cover letters. Do you have any unusual hobbies that led you to be interested in the field of work you’re applying for? Is there a backstory that explains why you admire the company? Whatever you write, just don’t elaborate on your job history and skills (that’s what the resume is for).
3. You only have ideas on how to improve the company
Save the problem-solving suggestions for the job interview (that is, if you’re luck enough to get one), when you’ll 100 percent be asked those similar questions (i.e., “what would you improve about [XYZ]?”). A cover letter can be used as an opportunity to demonstrate your job knowledge, but don’t use it as an outlet to tell your prospective employer what they are doing wrong and how to fix it. No one likes hearing negative things about their business from a stranger, even if your feedback has merit. Curiosity, humility and tact will trump a “know-it-all” every time. Focus on the positive aspects and potential solutions for the business.
When to include a cover letter
Notwithstanding the above, the only time you should submit a cover letter is when you have valuable information to share that’s not conveyed in your resume. I’ve hired many candidates based on something that stood out in their cover letter.
Here are some examples:
1. A personal connection or referral
If you were personally introduced to a hiring manager (or someone high up in the company), always acknowledge that relationship in a cover letter. Who made the introduction? How you know them? Why did they think you are a good fit for the role? A personal referral goes a long way, so don’t miss out on capturing the advantage.
2. You have a history with the company or hiring team
If you have any link to the organization, it’s essential to connect the dots. Did you intern at the company? Did you cross paths when you worked for a supplier, a competitor or even a team member in a previous company? You never want to surprise the recruiter and have them hear about the connection from someone else; getting ahead of it will make you an exciting candidate and demonstrate that you’re a transparent and a proactive communicator.
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Everyone knows there’s money to be made in the financial services field. But there are many more reasons to consider a career in finance.
The industry offers diverse opportunities, a fast-paced environment, and lots of room for advancement. Are you creative and do you like to learn? Professionals in finance are constantly innovating—quick thinking, rigorous analytical thought, and consistent results are what will get you promoted. If this sounds like a good fit for you, consider these job titles (and their salaries!).
Annual salary: $125,000
Employment projected to grow 19 percent by 2026
Asset managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization.
Annual salary: $101,560
Employment projected to grow 22 percent by 2026
Actuaries analyze the financial costs of risk and uncertainty. They use mathematics, statistics, and financial theory to assess the risk of potential events, and they help businesses and clients develop policies that minimize the cost of that risk.
Personal Financial Advisor
Annual salary: $90,640
Employment projected to grow 15 percent by 2026
Personal financial advisors provide advice on investments, insurance, mortgages, college savings, estate planning, taxes, and retirement to help individuals manage their finances.
Annual salary: $75,240
Employment projected to grow 7 percent by 2026
Budget analysts help public and private institutions organize their finances. They prepare budget reports and monitor institutional spending.
Accountant or Auditor
Annual salary: $69,350
Employment projected to grow 10 percent by 2026
Accountants and auditors prepare and examine financial records. They ensure that financial records are accurate and that taxes are paid properly and on time. Accountants and auditors assess financial operations and work to help ensure that organizations run efficiently.
The 2019 ERG & Council Honors Award™ is the only annual national award that recognizes and honors the outstanding contributions and achievements of ERGs, BRGs and Diversity Councils. It was established in 2008 by the Association of ERGs & Councils, a practice group of diversity and inclusion consulting and training firm PRISM International, Inc.
The 2019 ERG & Council Honors Award™ recipients are a diverse combination of US organizations representing most sectors, geographies and sizes. “This year we had a diverse pool of highly qualified applications representing 1,079 ERGs, BRGs, Diversity Councils and their chapters,” states Fernando Serpa, Executive Director of the Association of ERGs & Councils. “We also had several non-Top 25 groups demonstrate best practices and results that deserve to be recognized and they will be receiving the Spotlight Impact Award™ that highlights the achievements of these select groups in the categories of Organizational Impact, Talent Management and Culture of Inclusion.”
This year, for the first time, the Association of ERGs and Councils will bestow the honor of Top Executive Sponsor of the Year. “We wanted to recognize and call out the important role executive sponsors play in developing, supporting and enabling their ERGs and Councils to succeed,” Serpa said.
The 2019 ERG & Council Honors Award™ Top 25 recipient rankings will be revealed at the May 3 award ceremony at the Disney Yacht & Beach Club Resort in Orlando, Florida. The Award Ceremony and Conference is open to all diversity and inclusion professionals involved with ERGs, BRGs and Councils. This is a great opportunity for individuals to learn and share best practices, network, grow and celebrate, to become inspired and be renewed…all for the purpose of increasing their impact on key organizational and business objectives. Learn more by visiting ErgCouncilConference.com.
The 2019 ERG & Council Honors Award™ recipients in alphabetical order include:
American Airlines – American Airlines Diversity Advisory Council
Atrium Health – Atrium Health Divisional Diversity Councils
Bank of America – Military Support & Assistance Group ( MSAG)
Cleveland Clinic – ClinicPride Employee Resource Group (ClinicPride ERG)
Cleveland Clinic – Military/Veterans Employee Resource Group
Cleveland Clinic – SALUD
Davenport University – Diversity, Equity and Inclusion Council
Entergy Corporation – Entergy Employee Resource Group
Erie Insurance – Diversity & Inclusion Leadership Council
Froedtert Health – Froedtert Health Diversity Council
General Motors – General Motors Employee Resource Group Council
KeyBank – Key Business Impact and Networking Groups
Mallinckrodt Pharmaceuticals – Mallinckrodt Inclusion & Diversity Council
Mount Sinai Queens, part of the Mount Sinai Health System – Mount Sinai Queens Diversity Council
Mount Sinai St. Luke’s, part of the Mount Sinai Health System – Mount Sinai St. Luke’s Diversity Council
National Guard – Joint Diversity Executive Council
Northern Trust Corporation – Advancing Professionals Resource Council (APRC)
Northern Trust Corporation – Women In Leadership Business Resource Council (WIL BRC)
Northwestern Mutual – Asian ERG
Northwestern Mutual – Northwestern Mutual Women’s Employee Resource Group
Novant Health – Asian Business Resource Group
PNC Financial Services Group – Corporate Diversity Council
State Street Corporation – Professional Women’s Network – Massachusetts Chapter (PWN-MA)
U.S. Bank – Spectrum LGBTQ Business Resource Group
U.S. Bank – U.S. Bank Proud to Serve
The 2019 Spotlight Impact Award™ recipients in alphabetical order include:
Dominion Energy – Dominion Energy Executive Diversity Council (EDC)
FedEx Services – Diversity and Inclusion BRT Council
Food Lion – Diversity and Inclusion
MUFG Union Bank, N.A. – Women’s Initiative Network (WIN)
Summa Health – Diversity and Advisory Council
The 2019 Executive Sponsor of the Year recipients in alphabetical order:
FedEx Services Diversity and Inclusion BRT Council – Rebecca Huling
Perdue Farms Inclusion Council – Randy Day
Southern California Edison Company (SCE) Women’s Roundtable (WR) – Maria Rigatti
U.S. Bank Proud to Serve – Mike Ott
About the ERG & Council Honors Award™
The ERG & Council Honors Award™ is the only annual national award that recognizes, honors and celebrates the outstanding contributions and achievements of ERGs, BRGs and Diversity Councils that lead the diversity and inclusion process in their organizations and demonstrate results in their workforce, workplace and marketplace. Learn more by visiting ERG & Council Honors Award™.
About the ERG & Council Conference™
ERGs and Diversity Councils are vital links for improving organizational results. However, to remain impactful and effective, they need opportunities to increase their skills and knowledge and to learn and share best practices. They need opportunities to network, celebrate and grow. This is the purpose of the only annual conference designed specifically for ERGs, BRGs and Diversity Councils. Learn more by visiting ERGCouncilConference.com.
About the Association of ERGs & Councils
The Association of ERGs & Councils is a practice group of PRISM International Inc. and the premier resource for transforming Employee Resource Groups, Diversity Councils and Employee Network Groups to impact key organizational and business objectives. Learn more by visiting the ErgCouncil.com.
About PRISM International, Inc.
PRISM International Inc., a Talent Dimensions company, is a WBENC-certified, full-service provider of innovative and proven consulting, training and products for leveraging diversity and inclusion, addressing unconscious bias, increasing cross-cultural competencies and creating more effective ERGs and Diversity Councils. Learn more by visiting PrismDiversity.com
Diverse and inclusive workplaces can be both difficult to find and hard to create. But if you care about making your own workplace truly inclusive, you have the ability to effect real change—as an ally.
An ally is someone who is not a member of an underrepresented group but who takes action to support that group.
It’s up to people who hold positions of privilege to be active allies to those with less access, and to take responsibility for making changes that will help others be successful. Active allies utilize their credibility to create a more inclusive workplace where everyone can thrive, and find ways to make their privilege work for others.
And wielding privilege as an ally doesn’t have to be hard. I’ve seen allies at all levels take action with simple, everyday efforts that made a difference—often a big one!
Here are a few roles that allies can choose to play to support colleagues from underrepresented groups in beneficial ways.
1. The Sponsor
I once worked for a software company that was acquired by a larger company. In the first few months following the acquisition, I noticed something interesting. My new manager, Digby Horner—who had been at the larger company for many years—said things in meetings along the lines of: “What I learned from Karen is the following…”
By doing this, Digby helped me build credibility with my new colleagues. He took action as an ally, using his position of privilege to sponsor me. His shoutouts made a difference, and definitely made me feel great.
When an ally takes on the role of the Sponsor, they vocally support the work of colleagues from underrepresented groups in all contexts, but specifically in situations that will help boost those colleagues’ standing and reputations.
How to Act as a Sponsor
Talk about the expertise you see in others, especially during performance calibrations and promotion discussions.
Recommend people for stretch assignments and learning opportunities.
Share colleagues’ career goals with influencers.
2. The Champion
In May 2015, Andrew Grill was a Global Managing Partner at IBM and a speaker at the Online Influence Conference. He was on a panel along with five other men when a female member of the audience posed the obvious question to the all-male lineup: “Where are the women?”
The moderator then asked the panelists to address the topic of gender diversity, and Andrew, after sharing some of his thoughts, quickly realized he wasn’t the best person to respond. In fact, none of the panelists were. He instead asked the woman who asked the question, Miranda Bishop, to take his place on the panel. By stepping aside, Andrew made a bold statement in support of gender diversity on stage and championed Miranda at the same time.
Since then, the nonprofit organization GenderAvenger has created a pledge to reduce the frequency of all-male panels at conferences and events. It reads, “I will not serve as a panelist at a public conference when there are no women on the panel.” Anyone can sign the pledge on their website.
When an ally takes on the role of the Champion, that ally acts similarly to the Sponsor, but does so in more public venues. Champions willingly defer to colleagues from underrepresented groups in meetings and in visible, industry-wide events and conferences, sending meaningful messages to large audiences.
How to Act as a Champion
Direct questions about specific or technical topics to employees with subject-matter expertise instead of answering them yourself.
Advocate for more women, people of color, and members of other underrepresented groups as keynote speakers and panelists.
If you’re asked to keynote or serve in a similar public role and know someone from an underrepresented group who’d be an equally good fit (or better), recommend that person (after asking them first if they’d like to be put forward).
3. The Amplifier
In a Slack channel for female technical leaders, I met a data engineer who was working at a 60-person startup. One team inside the company had an unproductive meeting culture that was starting to feel truly toxic. Yelling and interrupting frequently took place, and women in particular felt they couldn’t voice their opinions without being shouted over.
One of this engineer’s colleagues decided to take action to ensure that the voices of those who weren’t shouting would be heard. She introduced communication guidelines for a weekly meeting, and saw an immediate improvement. The guidelines included assigning a meeting mediator (team members would take turns in this role), setting clear objectives and an agenda for every meeting, conducting a meeting evaluation by every participant at the end of every meeting, and reminding the members to be respectful and practice active listening.
When an ally takes on the role of the Amplifier, that ally works to ensure that marginalized voices are both heard and respected. This type of allyship can take many forms, but is focused on representation within communication.
How to Act as an Amplifier
When someone proposes a good idea, repeat it and give them credit. For example: “I agree with Helen’s recommendation for improving our net promoter score.”
Create a code of conduct for meetings and any shared communication medium including email, chat, Slack, and so forth.
Invite members of underrepresented groups within your company to speak at staff meetings, write for company-wide newsletters, or take on other highly visible roles.
4. The Advocate
Shortly after she became the CEO of YouTube, Susan Wojcicki spoke up about how tech industry titan Bill Campbell had advocated for her. In an article for Vanity Fair, she wrote:
I learned about an important invitation-only conference convening most of the top leaders in tech and media, yet my name was left off the guest list. Many of the invitees were my peers, meaning that YouTube wouldn’t be represented while deals were cut and plans were made. I started to question whether I even belonged at the conference. But rather than let it go, I turned to Bill, someone I knew had a lot of influence and could help fix the situation. He immediately recognized I had a rightful place at the event and within a day he worked his magic and I received my invitation.
When an ally takes on the role of the Advocate, that ally uses their power and influence to bring peers from underrepresented groups into highly exclusive circles. The Advocate recognizes and addresses unjust omissions, holding their peers accountable for including qualified colleagues of all genders, races and ethnicities, abilities, ages, body shapes or sizes, religions, and sexual orientations.
How to Act as an Advocate
Look closely at the invite list for events, strategic planning meetings, dinners with key partners, and other career-building opportunities. If you see someone from a marginalized group missing, advocate for them to be invited.
Offer to introduce colleagues from underrepresented groups to influential people in your network.
Ask someone from an underrepresented group to be a co-author or collaborator on a proposal or conference submission.
5. The Scholar
I’m a member of the Women’s CLUB of Silicon Valley, a nonprofit leadership incubator for women. Many of our events are open to guests, who come to hear the speakers and participate in our workshops. Most guests are women, so it stood out when a male guest started attending our events. I asked one of my friends who he was, and she told me he was a former colleague who wanted to better understand the challenges women face in the workplace. He spent many evenings at our events, listening and absorbing information about the issues we discussed so he could be a better ally.
When an ally takes on the role of the Scholar, that ally seeks to learn as much as possible about the challenges and prejudices faced by colleagues from marginalized groups. It’s important to note that Scholars never insert their own opinions, experiences, or ideas, but instead simply listen and learn. They also don’t expect marginalized people to provide links to research proving that bias exists or summaries of best practices. Scholars do their own research to seek out the relevant information.
How to Act as a Scholar
Investigate and read publications, podcasts, or social media by and about underrepresented groups within your industry.
Ask co-workers from marginalized groups about their experience working at your company.
If your company or industry has specific discussion groups or Slack channels for members of underrepresented groups, ask if they’d be comfortable letting you sit in to observe. Asking is essential: Your presence may cause members to censor themselves, so be sure to check in before showing up.
6. The Upstander
I remember being impressed by Lisa, a white software engineer who stepped outside of her comfort zone to be an ally. When asked to name her “spirit animal” as part of a team-building exercise, Lisa spoke up. She wasn’t comfortable taking part in an exercise that appropriated Native American spiritual traditions.
When an ally takes on the role of the Upstander, that ally acts as the opposite of a bystander. The Upstander is someone who sees wrongdoing and acts to combat it. This person pushes back on offensive comments or jokes, even if no one within earshot might be offended or hurt.
How to Act as an Upstander
Always speak up if you witness behavior or speech that is degrading or offensive. Explain your stance so everyone is clear about why you’re raising the issue.
In meetings, shut down off-topic questions that are asked only to test the presenter.
Take action if you see anyone in your company being bullied or harassed. Simply insert yourself into a conversation with a comment such as, “Hi! What are you folks discussing?” and then check in with the victim privately. Ask if they’re okay and if they want you to say something.
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At 22 years old, Lauren Simmons shattered the glass ceiling by being the youngest and only full-time female equity trader on Wall Street for Rosenblatt Securities.
Affectionately dubbed as the “Lone Woman On Wall Street”, Simmons was also the second African-American woman in history to sport the prestigious badge.
Graduating Kennesaw State University in 2016 with a bachelor’s degree in genetics and a minor in statistics, Simmons originally aspired to go into genetic counseling. She made a decision to put that on hold. What had not changed, however, was her passion to move to New York City, where networking led her to meet Richard Rosenblatt, the CEO of Rosenblatt Securities. Beyond her many qualifications, it was ultimately Simmons’ confidence that led Rosenblatt to take her under his wing as an Equity Trader.
“Being a trader, you make decisions within microseconds,” Simmons said on meeting Rosenblatt, “So I think for him, even for me, the choice of coming onto the trading floor made sense immediately.”
The job wasn’t completely hers; she still had to pass the Series 19 exam, which is a requirement for all floor brokers to earn their badge. This test has a pass rate of 20% in a class of 10. After studying the book cover to cover for a month straight. Lauren Simmons made history. Since her story broke Lauren Simmons has been featured in various media outlets and currently, she has a movie on her journey to Wall Street starring Kiersey Clemons.
I spoke to Simmons about her journey to Wall Street, favorite moments on the trading floor and what the financial service industries can do to increase diversity and inclusion.
Knowing the right way to prepare for a job fair can help you land the next great job on your career path. Whether you’re seeking your first job or your fifth job, attending a career or job fair is a smart strategy for marketing yourself to potential employers.
Forget reviewing hundreds of online ads or spending countless hours filling out applications and emailing resumes! At a job fair, you can connect directly with recruiters and hiring managers from a wide range of companies, learning about them as they learn about you.
Yet, knowing how to effectively prepare for a career fair means you’ll stand out from other attendees and ultimately find your next great career role. Follow these steps to make the most of every job fair you attend.
How to prepare for the career or job fair
A key contributor to your success will be in your preparation. Here are some tips:
If you can, pre-register for the event: This can include submitting your resume and/or other information just in case attending employers review your information before the fair.
Research the companies that are attending: Having a background on these organizations means you can ask specific questions about the job and company. “This impresses [company] representatives because it shows a genuine interest in them,” according to the UC Berkeley Career Center.
After researching, decide who you’ll talk with: By doing this, you don’t have to waste precious time wandering around and deciding who to start a conversation with. You’ll know when you walk in the door, greatly increasing your chances of success. If you can get a layout of the fair beforehand, you can make a “plan of attack” to see each employer in order of interest.
Prepare and print your resumes: Bring more than you need, as some companies may want more than one copy. If you have multiple job objectives, make sure you bring enough versions of each resume, and of course, be sure your resume is well-written and free of errors.
Create and practice your elevator pitch: This 30- to 60-second speech should explain who you are, what your skills are, and what your career goal is. This is one truly important piece of learning how to prepare for a career fair, and Carnegie Mellon University has a page with some great tips on creating a solid elevator pitch.
Prepare for potential interviews or interview questions: Check out this list of the most common interview questions and prepare your answers beforehand. This will ensure you present yourself professionally and help calm your nerves.
What to do on the day of the fair
Arrive as early as possible, come dressed appropriately for the job fair, and then follow these tips to make the most of your time:
Be confident and enthusiastic: Introduce yourself with a smile and a firm handshake. Companies are there because they want to meet you, and more importantly, make a hire. Be ready to give your elevator pitch when appropriate. If you’re still a student, talk about your academic and extracurricular experiences as well as your career interests.
Take notes if necessary: Do this especially “when you inquire about next steps and the possibility of talking with additional managers,” says the UC Berkeley career center. “Write down the names, telephone numbers, etc. of other staff in the organization whom you can contact later.”
Ask the company representative for a business card: This will give you all the information you need to get in touch with this person if necessary and to send a thank-you note for the time the representative spent with you. Believe it or not, many a candidate has won the job because of a thank you.
Network, network, network: In addition to the company representatives, make time to talk with other job seekers to share information on everything from the companies to job leads and get their contact information if possible. Also, definitely approach any professional organizations at the fair and get information for future networking opportunities.
Actions to take after the event
Once you’ve prepared for the career or job fair and then actually attended, there are a few important things to do once it’s over. Here’s what to keep in mind:
Follow up with company representatives you talked to: As mentioned above, send a thank-you note as soon as possible after the fair. Review your interest in and qualifications for the job and promise to follow up with a phone call. You can also attach another copy of your resume to the note or email.
Continue to network: Reach out to fellow attendees you talked with to share your experience of the job fair and ask about their successes. Tell them you’ll keep them in mind if you see an open position they might want and ask them to do the same for you. Join any of the professional organizations that were at the fair if they are appropriate to your career goals, as well.
In addition to the tips above, the University of Minnesota has advice from employers on various aspects of how to prepare for a job fair, which is helpful for both students and experienced professionals alike.
By following these guidelines at your next career fair, you’ll give yourself an excellent chance of landing that next great job in your career path.