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When Approached With the Right Mindset, Networking Pays Off

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When Networking, There Are Better Ways to Answer the Question “What do ou do?”

Right now, there are job opportunities all around you, with a catch: they’re attached to people. Hence, what you already know, networking is the most effective strategy for finding a job.

If you still need convincing that networking is essential to landing a job, I recommend reading Why Networking is More Important than Ever Before by Leslie Stevens-Huffman, in which he states, “Data shows that 87 percent to 92 percent of jobs are filled through introductions or referrals from your network.”

The more you network, the further ahead you’ll be of the 99% of job seekers you’re competing against. Serious job seekers understand that the goal isn’t to apply to more jobs but to talk to more people.

Job seekers complaining that the hiring system—as if a universal hiring methodology exists—is broken are those who still believe they can apply online, along with hundreds if not thousands of other candidates, many just as qualified, if not more, and then wait to hear from a stranger, the hiring manager. This strategy, used by most job seekers, only offers a fractional chance of landing an interview, explaining why most job seekers are frustrated.

I often hear from jobseekers that networking feels manipulative. The entire business world, especially its drivers of consumption—without consumption, there’s no business—marketing and sales depend on manipulation. “Worrying” about appearing manipulative makes me wonder if the person has a solid foundation of ethical behaviour or just picks and chooses ethical principles to justify “why they don’t.”

Strangers owe you nothing and are likely focused on keeping their head above water. For your networking activities to be effective, you must approach people with curiosity, empathy, and, above all, a desire to add value. Don’t feel entitled to someone’s time. Before approaching someone you want to build a professional relationship with, ask yourself: “How can I help this person? What does the person have to gain by connecting with me?”

  • Your market intelligence?
  • Your vendor/supplier relationships?
  • Your industry expertise?
  • Your skills?
  • Your measurable track record of achieving results?

Asking yourself, “What does [stranger] have to gain by knowing me?” before approaching [stranger] is a subtle but powerful shift in perspective. Focus first on understanding the other person’s needs and challenges, which may require some research, as opposed to solely pursuing your own agenda. What issues are they grappling with in their work or business? How might your unique skills, knowledge, or connections assist them?

Everybody has their own agenda. If you can’t clearly show the person you’re reaching out to how you can assist them with their agenda, why should they help you? Would you help a stranger with their job search if they didn’t, in some way, help with your agenda?

When you reach out to strangers with an “I want something from you” attitude, as most people do, expect resistance and being ghosted. Nobody wants to help someone who’s only interested in their own agenda. On the other hand, when you take a consultative approach, probing into challenges, chatting through problems, offering ideas and solutions, and finding commonalities, you’re much more likely (no guarantee) to build meaningful connections.

From what I’m experiencing, blame it on social media, hiding behind our smartphone, and the recent common limiting belief of being an introvert; we’ve lost the ability to cultivate relationships, which requires focusing on the other person’s wants and needs while putting ours on the back burner. Don’t be one of the ‘What the f*ck do you want?’ people. When you reach out, lead by offering something of value.

Whether professional or personal, there are three what I call human principles to beginning and maintaining a relationship:

  1. People are attracted to those who try to start a conversation with them. (Conversation starters attract people.)
  2. A desire to help makes you memorable and interesting.
  3. Showing interest in someone is a massive gesture.

An analogy that illustrates the above is offering to help an elderly person carry their groceries to their car. While walking to their car and placing their groceries in the trunk, you make small talk and find out their son is the VP of finance at a multi-national biomedical company. You’re a certified accountant searching for your next job. As you place the last bag of groceries in the truck, you ask if they would mind introducing you to their son.

I know. You wish networking were as easy as this. Undeniably, networking can be challenging, but scenarios like this analogy happen every day. I’ve experienced this more than once. Offering value before asking for value is far more effective than reaching out to cold.

Worth mentioning is a pet peeve of mine that’s a recipe for being ghosted: People who haven’t spoken to me in years seeking my help. Maintaining your current professional relationships can’t be overstated. Reaching out only when you need something is borderline insulting.

The most successful networkers approach networking not as a necessary evil but as an opportunity to forge genuine, mutually beneficial connections. Habitually approaching people with curiosity, empathy, and a generous heart will make networking an enjoyable and rewarding experience.

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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.

 

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Canada Goose to get into eyewear through deal with Marchon

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TORONTO – Canada Goose Holdings Inc. says it has signed a deal that will result in the creation of its first eyewear collection.

The deal announced on Thursday by the Toronto-based luxury apparel company comes in the form of an exclusive, long-term global licensing agreement with Marchon Eyewear Inc.

The terms and value of the agreement were not disclosed, but Marchon produces eyewear for brands including Lacoste, Nike, Calvin Klein, Ferragamo, Longchamp and Zeiss.

Marchon plans to roll out both sunglasses and optical wear under the Canada Goose name next spring, starting in North America.

Canada Goose says the eyewear will be sold through optical retailers, department stores, Canada Goose shops and its website.

Canada Goose CEO Dani Reiss told The Canadian Press in August that he envisioned his company eventually expanding into eyewear and luggage.

This report by The Canadian Press was first published Sept. 19, 2024.

Companies in this story: (TSX:GOOS)

The Canadian Press. All rights reserved.

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A timeline of events in the bread price-fixing scandal

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Almost seven years since news broke of an alleged conspiracy to fix the price of packaged bread across Canada, the saga isn’t over: the Competition Bureau continues to investigate the companies that may have been involved, and two class-action lawsuits continue to work their way through the courts.

Here’s a timeline of key events in the bread price-fixing case.

Oct. 31, 2017: The Competition Bureau says it’s investigating allegations of bread price-fixing and that it was granted search warrants in the case. Several grocers confirm they are co-operating in the probe.

Dec. 19, 2017: Loblaw and George Weston say they participated in an “industry-wide price-fixing arrangement” to raise the price of packaged bread. The companies say they have been co-operating in the Competition Bureau’s investigation since March 2015, when they self-reported to the bureau upon discovering anti-competitive behaviour, and are receiving immunity from prosecution. They announce they are offering $25 gift cards to customers amid the ongoing investigation into alleged bread price-fixing.

Jan. 31, 2018: In court documents, the Competition Bureau says at least $1.50 was added to the price of a loaf of bread between about 2001 and 2016.

Dec. 20, 2019: A class-action lawsuit in a Quebec court against multiple grocers and food companies is certified against a number of companies allegedly involved in bread price-fixing, including Loblaw, George Weston, Metro, Sobeys, Walmart Canada, Canada Bread and Giant Tiger (which have all denied involvement, except for Loblaw and George Weston, which later settled with the plaintiffs).

Dec. 31, 2021: A class-action lawsuit in an Ontario court covering all Canadian residents except those in Quebec who bought packaged bread from a company named in the suit is certified against roughly the same group of companies.

June 21, 2023: Bakery giant Canada Bread Co. is fined $50 million after pleading guilty to four counts of price-fixing under the Competition Act as part of the Competition Bureau’s ongoing investigation.

Oct. 25 2023: Canada Bread files a statement of defence in the Ontario class action denying participating in the alleged conspiracy and saying any anti-competitive behaviour it participated in was at the direction and to the benefit of its then-majority owner Maple Leaf Foods, which is not a defendant in the case (neither is its current owner Grupo Bimbo). Maple Leaf calls Canada Bread’s accusations “baseless.”

Dec. 20, 2023: Metro files new documents in the Ontario class action accusing Loblaw and its parent company George Weston of conspiring to implicate it in the alleged scheme, denying involvement. Sobeys has made a similar claim. The two companies deny the allegations.

July 25, 2024: Loblaw and George Weston say they agreed to pay a combined $500 million to settle both the Ontario and Quebec class-action lawsuits. Loblaw’s share of the settlement includes a $96-million credit for the gift cards it gave out years earlier.

Sept. 12, 2024: Canada Bread files new documents in Ontario court as part of the class action, claiming Maple Leaf used it as a “shield” to avoid liability in the alleged scheme. Maple Leaf was a majority shareholder of Canada Bread until 2014, and the company claims it’s liable for any price-fixing activity. Maple Leaf refutes the claims.

This report by The Canadian Press was first published Sept. 19, 2024.

Companies in this story: (TSX:L, TSX:MFI, TSX:MRU, TSX:EMP.A, TSX:WN)

The Canadian Press. All rights reserved.

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TD CEO to retire next year, takes responsibility for money laundering failures

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TORONTO – TD Bank Group, which is mired in a money laundering scandal in the U.S., says chief executive Bharat Masrani will retire next year.

Masrani, who will retire officially on April 10, 2025, says the bank’s, “anti-money laundering challenges,” took place on his watch and he takes full responsibility.

The bank named Raymond Chun, TD’s group head, Canadian personal banking, as his successor.

As part of a transition plan, Chun will become chief operating officer on Nov. 1 before taking over the top job when Masrani steps down at the bank’s annual meeting next year.

TD also announced that Riaz Ahmed, group head, wholesale banking and president and CEO of TD Securities, will retire at the end of January 2025.

TD has taken billions in charges related to ongoing U.S. investigations into the failure of its anti-money laundering program.

This report by The Canadian Press was first published Sept. 19, 2024.

Companies in this story: (TSX:TD)

The Canadian Press. All rights reserved.

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