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Employers Hire Candidates That Are Best for Them

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Top Business News Canada

Employers are human beings; like all humans, they look out for their interests. In other words, companies structure their hiring processes to identify and select candidates who will effectively serve their company’s interests.

People with meteoric careers often envied, acknowledge, and therefore strategically work with two facts:

 

  1. The employer’s interest dictates the workplace.
  2. It’s not the candidate’s place to decide what’s in the employer’s best interest.

 

“You can get everything in life you want if you will just help enough other people get what they want.” – Zig Ziglar.

 

Most job seekers hold the opinion that employers should select candidates purely based on their skills and qualifications. For the employer, “most qualified” doesn’t necessarily equal “best.” When recruiting and selecting new employees, employers have the right and responsibility to prioritize their organizational interests.

 

Two harsh truisms:

 

  • Companies choose what’s best for them.
  • There’s no such thing as a “must-have” candidate.

 

The concept of a great candidate (Yes, a great candidate is a concept.) is highly subjective. No company has gone bankrupt because it failed to hire a supposed “great candidate.”

 

Merely labelling yourself as a great candidate or talented without demonstrating your potential to enhance the employer’s bottom line isn’t a convincing reason to hire you. Unsubstantiated opinions are worthless. For your opinion(s) of yourself to be taken seriously, it must be backed up by credible evidence.

 

During the hiring process, employers protect their interests in the following areas:

 

Prioritizing Relevant Skills and Experience:

Employers look for candidates with job-specific skills, knowledge, and experience. They want to ensure the new hire can hit the ground running and be productive immediately.

 

Assessing Cultural Fit:

Employers evaluate a candidate’s values, working style, and personality to ensure they’ll fit into the company’s culture. All hiring decisions come down to: Will this candidate fit in?

 

Considering Long-Term Potential:

Employers prefer candidates with growth potential who can take on more responsibilities in the future.

 

Avoiding Excessive Costs:

Employers strive to hire the best possible candidate while managing their labour costs. (salary, benefits, training requirements)

 

Mitigating Risks:

In order to minimize the risk of making a bad hire, employers review a candidate’s background and digital footprint, as well as speak to their references beforehand.

 

With all of the above in mind, it’s your responsibility as a job seeker to demonstrate to employers why hiring you would be in their best interest.

 

Understand the Employer’s Perspective

“Your mindset matters more than your skillset.” – Shiv Khera, Indian author and activist.

 

Many job seekers struggle with their job search because of their mindset. A person’s mindset is everything, especially when looking for work since it influences how they perceive employers and job possibilities. The savvy job searcher knows that it’s not about them; it’s about the employer. They envision the employer as a potential customer. Employers create jobs and, therefore, paychecks; consequently, they’re the customers. As Harry Gordon Selfridge, the founder of Selfridge’s department store in London, famously said, “The customer is always right.”

 

By empathizing with the employer’s perspective, it’ll become apparent that employers are making strategic investments in their human capital rather than simply filling open positions. An organization’s long-term success requires hiring people who can contribute (read: add measurable value), not those with an extensive resume that doesn’t show what measurable value-adds they can contribute to the employer.

 

Employers are responsible for building a workforce that can drive productivity, protect the company’s competitive advantages, and mitigate legal/reputation risks. Therefore, think about how you can position your candidacy as an excellent strategic investment.

 

Highlight Your Unique Value Proposition

When communicating with employers, you must go beyond simply stating your qualifications and experience. Focus on articulating a unique value proposition—your ability to meet the employer’s most pressing needs and objectives—to answer the question in the back of the employer’s mind, “Why should I hire this person? What difference will they make to the company?”

 

Do you have a proven track record of boosting productivity and efficiency? Maybe you possess niche technical skills that would give the company a competitive edge. Perhaps you have a book of clients. Most job seekers fail to demonstrate how they’ll provide a substantial return on their compensation—the employer’s investment. Don’t be like most job seekers! If you’re asking for a salary of $95,000, be ready to explain quantitatively what the employer will get in return.

 

Demonstrate Your Commitment to Their Success

Employers are not just looking for someone to fill a role; they want someone who’s passionate about contributing to the company’s success. Show them that you’re that person.

 

Ultimately, the hiring process is not a charity or a favour employers do for job seekers. It is a strategic business decision that can make or break an organization’s ability to thrive. While employers should treat all candidates with respect and fairness, they’re well within their rights to design their hiring practices in a way that serves their own best interests. Just because an employer’s hiring process doesn’t work for the job seeker doesn’t mean it doesn’t work for the employer.

_____________________________________________________________________

 

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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