Every week, NETSHARE hosts Ask the Coach, a phone-in coaching session with leading career management experts. Here is an excerpt from this week’s session with Barbara Safani, owner of Career Solvers based in New York City.
What came to light in this week’s Ask the Coach call was that even though the basics of executive job search remain unchanged, you do have to make some strategic adjustments to deal with the current economic downturn.
According to Barbara, searches are still taking longer, but across several job sectors, hiring is now at the level they were in 2008, which is ahead of last year. Your best strategy is to continue to stay in front of hiring authorities and recruiters, but the trick is not to look like a stalker. Use natural touch points. If you read an article or a blog that looks interesting, share it with a cover note like, “thought you might find this interesting” or “this relates to our last conversation about…” If you are strategic with the information and insight you send to prospective employers you will position yourself as a knowledgeable candidate who stays current with the market.
Once you get in front of those hiring authorities, you have to be prepared to deal with other realities of the current job climate, like talking about compensation. If you are a "seasoned, experienced" executive, what can you do to mitigate the stigma of "high" earnings as you navigate the hiring process?
It’s a common complaint that the topic of salary comes up too early in the conversation these days. If you don’t know the scope of the position, how are you supposed to “price” yourself? It’s a given that most salaries aren’t at the levels they used to be; that’s the reality of today’s economy. And there is no time to build any trust between the company and the candidate before you start talking compensation.
You can take a proactive stance by opening with a discussion of market conditions and what the market will bear for the position, showing your understanding of your value in the marketplace. This demonstrates that you understand that conditions have changed, and by offering a compensation range they have a better understanding of you and your expectations. Once you establish trust, you can more comfortably discuss specifics.
You also need to be prepared to address their concerns about taking a lower salary and continuing to look for a better offer. In other words, why should they invest in you? You need to address this concern head on, without being confrontational. Explain where you see yourself with the company in the next five to 10 years. This shows that you have no plans to retire and should set them at ease.
Everyone is looking to control costs. Your job is to get them to think about long-term benefits, not immediate expenses. And the basic strategy for salary negotiation remains the same, even in a tight economy. You need to determine what is truly important to you and remember that companies will pay for value.
