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Why Do Job Seekers Keep Refusing to Leverage Numbers?

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Business is all about numbers, making numbers the language of business. It’s puzzling why so many job seekers make their job search harder than needed by not speaking the language of business. The most common job search advice is to use numbers to showcase what you’re capable of. However, I rarely see a resume or LinkedIn profile populated with numbers (read: evidence) that quantify responsibilities and results.

Numbers drive business decisions. Consider which department largely influences a company’s decision-makers: Accounting. Accounting deals extensively with quantified numbers, presenting management with hard numbers regarding cost allocations, revenue, production, inventory, etc., so they can make informed decisions.

Hiring is a business decision. The few job seekers who grasp—they get it—that employers speak the language of numbers know they’ll have a competitive advantage by sharing, essentially presenting evidence, results and achieved metrics throughout their resume and LinkedIn profile, resulting in a less arduous job search. Without quantifying numbers, a resume and LinkedIn profile are nothing more than opinions. Based on my experience, 95% of resumes and LinkedIn profiles are nothing more than opinions. Employers don’t hire opinions; they hire results.

Quantify what you claim. Otherwise, it’s a valueless opinion.

  • Opinion: “I’m a team player.”
  • Quantified: “I’m a member of an inside sales department with 12 reps. In 2023, we generated $17.5 million in revenue, exceeding our target of $16 million. My contribution was $1.8 million.”
  • Opinion: “Reviewed accounting records.”
  • Quantified: “Audited accounting records weekly, reducing error rates by 32% within 18 months of my start date.”
  • Opinion: “Increased online sales.”
  • Quantified: “Initiated a social media campaign which increased web traffic by 40%, leading to a 15% increase in online sales.”

Which statements provide information the employer can use to evaluate the candidate’s skills and experience and, therefore, are persuasive?

Today, we live in an on-demand economy. Each employee performs a labour-based service regarded as a “business unit.” An employee is either a profit center delivering measurable (keyword) value or a cost center not delivering a return for their salary—an employee you don’t want to be.

Executives and business owners tend to devalue employees who can’t quantify their performance, results, and impact on the company. As a job seeker, you must think like an executive or business owner and quantify your accomplishments. Think of yourself as a sole proprietorship business, looking for a customer rather than wanting to be an employee.

An employer invests in its workforce through salaries and benefits and has the right to expect a positive return on its investment. For this reason, I’ve always viewed my employer as my customer and, therefore, approach my work with the motivational mindset that I must keep delivering measurable value to keep my customer.

C-level or above executives with business acumen know how much each position they oversee costs, the amount of investment it absorbs, and, most importantly, what it contributes to the business. For example, a VP of Marketing will want to be able to explain, using quantified numbers, such as the increase in market share and campaign costs, to their fellow VPs and the President, CEO, and board how the company’s marketing resources (marketing staff) and investments are being utilized and contributing to profitability.

C-suite executives and higher are constantly analyzing all activities under their purview for cause and effect while also considering the business impact of reducing or eliminating certain activities. In today’s competitive environment, company executives constantly search for employees and activities that are profit distractions. With changing market dynamics and technological advancements (AI, robotics, self-checkout, automation), they can take advantage of companies are, more than ever, focused on being lean.

When writing your resume and LinkedIn profile or speaking in an interview, emphasize your cause and effect. Ask yourself: “What measurable effect did I have? What numbers (evidence) can I show that prove I supported my employer’s success?”

A sidebar: Lean management explains an emerging trend I’m seeing among employers: the growing use of independent workers. Businesses increasingly prefer to hire human capital on an as-needed basis (freelancers, third-party vendors, hire on contract), saving on salaries and eliminating having to manage employees’ rising expectations.

Job seekers talk about having “awesome talent” or “being talented” and how employers need their “talent.” Almost no job seeker ever mentions, let alone offer numbers as proof, how their “talent” makes employers money, which is why the few who do stand out with employers.

An entitlement mentality has become all too common, resulting in the job market becoming filled with job seekers who feel employers should “hire for attitude” or “give people a chance” while expecting a high salary because of their personal circumstances, as if the employer created their lifestyle. That’s not how it works.

Unless the candidate can quantify the results their talent generates and articulate how their results contribute to revenue generation and/or savings, then there’s no proof their supposed talent offers value worth paying for. Consider it this way: How do you expect an employee to know your value if you don’t provide quantifying numbers?

If you’re struggling with your job search, it’s likely because you’re not showing employers numbers that demonstrate your value.

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Nick Kossovan, a well-seasoned veteran of the corporate landscape, offers “unsweetened” job search advice. You can send Nick your questions to artoffindingwork@gmail.com.

 

Business

Transat AT reports $39.9M Q3 loss compared with $57.3M profit a year earlier

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MONTREAL – Travel company Transat AT Inc. reported a loss in its latest quarter compared with a profit a year earlier as its revenue edged lower.

The parent company of Air Transat says it lost $39.9 million or $1.03 per diluted share in its quarter ended July 31.

The result compared with a profit of $57.3 million or $1.49 per diluted share a year earlier.

Revenue in what was the company’s third quarter totalled $736.2 million, down from $746.3 million in the same quarter last year.

On an adjusted basis, Transat says it lost $1.10 per share in its latest quarter compared with an adjusted profit of $1.10 per share a year earlier.

Transat chief executive Annick Guérard says demand for leisure travel remains healthy, as evidenced by higher traffic, but consumers are increasingly price conscious given the current economic uncertainty.

This report by The Canadian Press was first published Sept. 12, 2024.

Companies in this story: (TSX:TRZ)

The Canadian Press. All rights reserved.

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Dollarama keeping an eye on competitors as Loblaw launches new ultra-discount chain

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Dollarama Inc.’s food aisles may have expanded far beyond sweet treats or piles of gum by the checkout counter in recent years, but its chief executive maintains his company is “not in the grocery business,” even if it’s keeping an eye on the sector.

“It’s just one small part of our store,” Neil Rossy told analysts on a Wednesday call, where he was questioned about the company’s food merchandise and rivals playing in the same space.

“We will keep an eye on all retailers — like all retailers keep an eye on us — to make sure that we’re competitive and we understand what’s out there.”

Over the last decade and as consumers have more recently sought deals, Dollarama’s food merchandise has expanded to include bread and pantry staples like cereal, rice and pasta sold at prices on par or below supermarkets.

However, the competition in the discount segment of the market Dollarama operates in intensified recently when the country’s biggest grocery chain began piloting a new ultra-discount store.

The No Name stores being tested by Loblaw Cos. Ltd. in Windsor, St. Catharines and Brockville, Ont., are billed as 20 per cent cheaper than discount retail competitors including No Frills. The grocery giant is able to offer such cost savings by relying on a smaller store footprint, fewer chilled products and a hearty range of No Name merchandise.

Though Rossy brushed off notions that his company is a supermarket challenger, grocers aren’t off his radar.

“All retailers in Canada are realistic about the fact that everyone is everyone’s competition on any given item or category,” he said.

Rossy declined to reveal how much of the chain’s sales would overlap with Loblaw or the food category, arguing the vast variety of items Dollarama sells is its strength rather than its grocery products alone.

“What makes Dollarama Dollarama is a very wide assortment of different departments that somewhat represent the old five-and-dime local convenience store,” he said.

The breadth of Dollarama’s offerings helped carry the company to a second-quarter profit of $285.9 million, up from $245.8 million in the same quarter last year as its sales rose 7.4 per cent.

The retailer said Wednesday the profit amounted to $1.02 per diluted share for the 13-week period ended July 28, up from 86 cents per diluted share a year earlier.

The period the quarter covers includes the start of summer, when Rossy said the weather was “terrible.”

“The weather got slightly better towards the end of the summer and our sales certainly increased, but not enough to make up for the season’s horrible start,” he said.

Sales totalled $1.56 billion for the quarter, up from $1.46 billion in the same quarter last year.

Comparable store sales, a key metric for retailers, increased 4.7 per cent, while the average transaction was down2.2 per cent and traffic was up seven per cent, RBC analyst Irene Nattel pointed out.

She told investors in a note that the numbers reflect “solid demand as cautious consumers focus on core consumables and everyday essentials.”

Analysts have attributed such behaviour to interest rates that have been slow to drop and high prices of key consumer goods, which are weighing on household budgets.

To cope, many Canadians have spent more time seeking deals, trading down to more affordable brands and forgoing small luxuries they would treat themselves to in better economic times.

“When people feel squeezed, they tend to shy away from discretionary, focus on the basics,” Rossy said. “When people are feeling good about their wallet, they tend to be more lax about the basics and more willing to spend on discretionary.”

The current economic situation has drawn in not just the average Canadian looking to save a buck or two, but also wealthier consumers.

“When the entire economy is feeling slightly squeezed, we get more consumers who might not have to or want to shop at a Dollarama generally or who enjoy shopping at a Dollarama but have the luxury of not having to worry about the price in some other store that they happen to be standing in that has those goods,” Rossy said.

“Well, when times are tougher, they’ll consider the extra five minutes to go to the store next door.”

This report by The Canadian Press was first published Sept. 11, 2024.

Companies in this story: (TSX:DOL)

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U.S. regulator fines TD Bank US$28M for faulty consumer reports

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TORONTO – The U.S. Consumer Financial Protection Bureau has ordered TD Bank Group to pay US$28 million for repeatedly sharing inaccurate, negative information about its customers to consumer reporting companies.

The agency says TD has to pay US$7.76 million in total to tens of thousands of victims of its illegal actions, along with a US$20 million civil penalty.

It says TD shared information that contained systemic errors about credit card and bank deposit accounts to consumer reporting companies, which can include credit reports as well as screening reports for tenants and employees and other background checks.

CFPB director Rohit Chopra says in a statement that TD threatened the consumer reports of customers with fraudulent information then “barely lifted a finger to fix it,” and that regulators will need to “focus major attention” on TD Bank to change its course.

TD says in a statement it self-identified these issues and proactively worked to improve its practices, and that it is committed to delivering on its responsibilities to its customers.

The bank also faces scrutiny in the U.S. over its anti-money laundering program where it expects to pay more than US$3 billion in monetary penalties to resolve.

This report by The Canadian Press was first published Sept. 11, 2024.

Companies in this story: (TSX:TD)

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