As a Job Seeker, You Need to Say ‘No’ to Bad Fits | Canada News Media
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As a Job Seeker, You Need to Say ‘No’ to Bad Fits

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Job Searches Are Full of Uncontrollable Factors

The following advice may have been given to you by a family member or a well-meaning friend: Stop waiting for better opportunities. The one you have in front of you is the best opportunity.

Most job seekers play it safe and settle for jobs that are not a good fit. Rather than spending an extra month or two searching for a job, they accept the first job offer they receive to ease their current pain, which often leads to long-term pain.

After being unemployed for some time or anxious to leave your current job, taking the first job offer you receive is understandable. After all, who knows when the next job offer will come along?

However, accepting a job offer just because it is an offer may not be your best move. Regardless of your current employment situation, there are times when you should consider turning down a job offer.

 

  1. The compensation is not right.

 

Obviously, you want to make ends meet. Ideally, your income should cover more than your bills. If the salary offered is insufficient to cover your basic expenses and you have not been able to negotiate a higher salary, you should walk away.

Do not become one of those employees who constantly complain about their salary, the salary they agreed to when they voluntarily accepted the position.

Of course, there are exceptions, such as if the salary is enough to cover your expenses—know what this number is—and you are committed to continue looking for a better-paying job. Ensure the salary you are being offered aligns with your lifestyle and financial situation. Ask yourself if your salary expectations are realistic, given your current skills, experience, and local job market.

 

  1. The job does not offer what you want.

 

Job seekers have different “must-haves.” It could be working remotely a few times a week (hybrid), having flexible hours, three weeks of paid vacation, or medical and dental benefits. Whatever it is, if your “must-haves” are not in the job offer, consider turning it down.

Is there such a thing as a “perfect job offer”? Of course not. Compare your “must-haves” with what you would be trading off. (e.g., receiving a higher salary but working full-time on-site)

 

  1. The job duties and expectations are vague.

 

A job title will tell you some things, but not everything, about the job. If you have gone through the entire interview process and still do not know what the job entails, especially what is expected, either find out more information or decline the job.

Never accept a “mystery” job. For starters, there is the possibility, a good possibility, that what you thought you would do and what you actually do differ so much that you end up unhappy. Worse, because you did not understand what the job entailed, you may be asked to do things you are not comfortable with or are not qualified to do.

 

  1. The company is a revolving door.

 

All companies experience turnover, regardless of their leadership team. According to Mercer, one of the largest sources of employer-reported data, Canada’s average voluntary turnover rate in 2022 was 15.5%.

While you can ask your interviewer about the company’s turnover rate, you probably will not get specifics. Instead, ask why the position is open. Was the person promoted within the company? Did they leave for greener pastures? Is this a newly created role?

 

My best advice: Find former employees on LinkedIn or via your network and talk to them.

 

  1. The company has a bad reputation.

 

No company is perfect. There will always be at least one former employee who says the company “sucks, hates its employees, and destroys your soul.”

However, pay attention if multiple former employees say the company is a bad employer. It could be that there are problems in one department with one manager. On the other hand, the complaints could indicate a company-wide problem, tricking down from the C-suites.

Do more than just search the Internet and social media. As I had mentioned, find former employees on LinkedIn or via your network and talk to them. As well, read up on the company in trade publications and if you can get your hands on their latest annual report.

 

  1. Your gut is telling you to think twice.

 

Job seekers rarely listen to their gut, which is something they should do.

During your interview, did you get a bad feeling? Did everyone at the company seem happy and content, or did you get negative vibes? Did it feel like your interviewer(s) were leaving out key details or hiding something during the hiring process? A few years back, I turned down a job that ticked all my boxes because when I asked if I could meet the team I would be managing, I was told my request would be against their hiring process. To me, this was a red flag.

Always trust your gut. If you have a bad feeling or something seems “off,” you are probably right and should turn down the job offer. Your gut is telling you that this is not the place for you.

_________________________________________________________

 

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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Japan’s SoftBank returns to profit after gains at Vision Fund and other investments

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TOKYO (AP) — Japanese technology group SoftBank swung back to profitability in the July-September quarter, boosted by positive results in its Vision Fund investments.

Tokyo-based SoftBank Group Corp. reported Tuesday a fiscal second quarter profit of nearly 1.18 trillion yen ($7.7 billion), compared with a 931 billion yen loss in the year-earlier period.

Quarterly sales edged up about 6% to nearly 1.77 trillion yen ($11.5 billion).

SoftBank credited income from royalties and licensing related to its holdings in Arm, a computer chip-designing company, whose business spans smartphones, data centers, networking equipment, automotive, consumer electronic devices, and AI applications.

The results were also helped by the absence of losses related to SoftBank’s investment in office-space sharing venture WeWork, which hit the previous fiscal year.

WeWork, which filed for Chapter 11 bankruptcy protection in 2023, emerged from Chapter 11 in June.

SoftBank has benefitted in recent months from rising share prices in some investment, such as U.S.-based e-commerce company Coupang, Chinese mobility provider DiDi Global and Bytedance, the Chinese developer of TikTok.

SoftBank’s financial results tend to swing wildly, partly because of its sprawling investment portfolio that includes search engine Yahoo, Chinese retailer Alibaba, and artificial intelligence company Nvidia.

SoftBank makes investments in a variety of companies that it groups together in a series of Vision Funds.

The company’s founder, Masayoshi Son, is a pioneer in technology investment in Japan. SoftBank Group does not give earnings forecasts.

___

Yuri Kageyama is on X:

The Canadian Press. All rights reserved.

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Trump campaign promises unlikely to harm entrepreneurship: Shopify CFO

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Shopify Inc. executives brushed off concerns that incoming U.S. President Donald Trump will be a major detriment to many of the company’s merchants.

“There’s nothing in what we’ve heard from Trump, nor would there have been anything from (Democratic candidate) Kamala (Harris), which we think impacts the overall state of new business formation and entrepreneurship,” Shopify’s chief financial officer Jeff Hoffmeister told analysts on a call Tuesday.

“We still feel really good about all the merchants out there, all the entrepreneurs that want to start new businesses and that’s obviously not going to change with the administration.”

Hoffmeister’s comments come a week after Trump, a Republican businessman, trounced Harris in an election that will soon return him to the Oval Office.

On the campaign trail, he threatened to impose tariffs of 60 per cent on imports from China and roughly 10 per cent to 20 per cent on goods from all other countries.

If the president-elect makes good on the promise, many worry the cost of operating will soar for companies, including customers of Shopify, which sells e-commerce software to small businesses but also brands as big as Kylie Cosmetics and Victoria’s Secret.

These merchants may feel they have no choice but to pass on the increases to customers, perhaps sparking more inflation.

If Trump’s tariffs do come to fruition, Shopify’s president Harley Finkelstein pointed out China is “not a huge area” for Shopify.

However, “we can’t anticipate what every presidential administration is going to do,” he cautioned.

He likened the uncertainty facing the business community to the COVID-19 pandemic where Shopify had to help companies migrate online.

“Our job is no matter what comes the way of our merchants, we provide them with tools and service and support for them to navigate it really well,” he said.

Finkelstein was questioned about the forthcoming U.S. leadership change on a call meant to delve into Shopify’s latest earnings, which sent shares soaring 27 per cent to $158.63 shortly after Tuesday’s market open.

The Ottawa-based company, which keeps its books in U.S. dollars, reported US$828 million in net income for its third quarter, up from US$718 million in the same quarter last year, as its revenue rose 26 per cent.

Revenue for the period ended Sept. 30 totalled US$2.16 billion, up from US$1.71 billion a year earlier.

Subscription solutions revenue reached US$610 million, up from US$486 million in the same quarter last year.

Merchant solutions revenue amounted to US$1.55 billion, up from US$1.23 billion.

Shopify’s net income excluding the impact of equity investments totalled US$344 million for the quarter, up from US$173 million in the same quarter last year.

Daniel Chan, a TD Cowen analyst, said the results show Shopify has a leadership position in the e-commerce world and “a continued ability to gain market share.”

In its outlook for its fourth quarter of 2024, the company said it expects revenue to grow at a mid-to-high-twenties percentage rate on a year-over-year basis.

“Q4 guidance suggests Shopify will finish the year strong, with better-than-expected revenue growth and operating margin,” Chan pointed out in a note to investors.

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

Companies in this story: (TSX:SHOP)

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RioCan cuts nearly 10 per cent staff in efficiency push as condo market slows

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TORONTO – RioCan Real Estate Investment Trust says it has cut almost 10 per cent of its staff as it deals with a slowdown in the condo market and overall pushes for greater efficiency.

The company says the cuts, which amount to around 60 employees based on its last annual filing, will mean about $9 million in restructuring charges and should translate to about $8 million in annualized cash savings.

The job cuts come as RioCan and others scale back condo development plans as the market softens, but chief executive Jonathan Gitlin says the reductions were from a companywide efficiency effort.

RioCan says it doesn’t plan to start any new construction of mixed-use properties this year and well into 2025 as it adjusts to the shifting market demand.

The company reported a net income of $96.9 million in the third quarter, up from a loss of $73.5 million last year, as it saw a $159 million boost from a favourable change in the fair value of investment properties.

RioCan reported what it says is a record-breaking 97.8 per cent occupancy rate in the quarter including retail committed occupancy of 98.6 per cent.

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

Companies in this story: (TSX:REI.UN)

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