Business

Complaining How Employers Hire Doesn’t Help Your Job Search

Published

7 months ago

April 27, 2024

“Complaining is not a strategy. You have to work with the world as you find it, not as you would have it be.” ― Jeff Bezos

In a different reality, employers would:

Offer salaries dependent on the candidate’s needs, not the job’s market value.
Not use applicant tracking software. (ATS)
Reply to every application.
Have a short and transparent hiring process.
Not scrutinize your resume and digital footprint.

Today’s reality:

More than ever, getting hired comes down to who you know and who knows you.
Employers are skittish (read: cautious) when it comes to hiring, hence why they have long, drawn-out hiring processes with many hurdles to navigate.
(in fairness, candidates also ghost)
Employers are looking for the perfect fit and are willing to wait until such a candidate comes along. (What employers want to see and the stereotypes they expect are constantly shifting paradigms.)

I understand why job seekers are frustrated with their job search and how employers design their hiring process. However, punching down on employers as if that’ll get them closer to their goal, presumably to get a job, accomplishes nothing other than wasting time and energy. Job seekers need to know and accept their controllables and uncontrollables.

Can’t control:

The economy or the number of job openings.
How an employer has designed their hiring process.
A hiring manager’s biases.
Whom you’re competing against.

Can control:

The amount of time and effort you put into your job search.
Whom you connect with and how you maintain your connections.
Your digital footprint.
Your preparation and performance. (Practice! Practice! Practice!)
How you cope with rejection. (Embrace the power of “Next!”)

Focus on what you can control, not on what you can’t control. Where you focus is where your energy goes. You can spend your energy and time complaining about employers being unfair and not giving you a chance. Such complaints stem from a sense of entitlement and do nothing to improve your job search success. Complaining discourages you from overcoming the many challenges you’re facing throughout your job search and breeds negativity, which manifests into excuses or believing you’re a victim of some “ism.”

Complaining isn’t a strategy or a way of taking responsibility; it’s not even a way of getting what we want. It’s a way of avoiding responsibility, blaming others, and trying to get sympathy without having to take action.

An essay I recommend everyone read is The Common Denominator of Success, by Albert E.M. Gray, who spent much of his life searching for the one denominator all successful people share. Putting first things first was the common denominator. “The successful person has the habit of doing the things failures don’t like to do,” he wrote. Put simply, to succeed, you must form the habit of doing what others don’t like to do. This is especially true when job searching. (e.g., networking)

Job seekers tend to complain because it’s easier than doing what they should be doing. Additionally, job seekers have expectations of employers, which, when not met, cause them to complain. Managing your expectations will limit your complaints about employers.

Two truisms job seekers would be wise to accept:

Total strangers (employers) owe you nothing.
Employment isn’t an absolute right.

I can’t overstress the importance of accepting these truisms. If you’re feeling bitter or resentful about your job search, wishing things were different, or thinking how life isn’t fair—any of this sounds familiar?—you’re fighting reality, which, as Bezos pointed out, “you have to work with the world as you find it, not as you would have it be.”

Complaining is counterproductive and does nothing to help you land a job. In today’s brutal job market, or in any job market, you need to be proactive as opposed to reactive, which is what most job seekers are. The difference between reactive and proactive job seekers has nothing to do with degrees, skills or experience. The difference is their mindset. Proactive job seekers base their expectations on reality. Reactive job seekers base their expectations on how they wish the world would be.

Guess which spends their energy complaining.

There are four critical steps in the proactive job search:

Identify which companies interest you.
Research the companies.
Leverage your network.
Reach out to hiring managers.

There’s too much of this:

1,000 applicants answer a job posting.
900 candidates sprayed and prayedand, therefore, don’t have the required qualifications, skills, or experience or know what the business does.
75 are “okay” candidates.
25 are candidates worth pursuing.

The Internet has made it much too easy to apply—spray and pray—which has resulted in qualified candidates getting lost in the tsunami of “quick apply applications” employers receive for their job openings. Job seekers have to deal with this reality, the world they have to work with, and no amount of complaining will change this reality.

Save your energy for your job search. Job hunting isn’t a totally unpredictable process if you’re a proactive job seeker and understand that successful job searching and complaining don’t go hand in hand.

_____________________________________________________________________

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

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

Published

6 hours ago

November 12, 2024

Anne Joseph

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:

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Business

Trump campaign promises unlikely to harm entrepreneurship: Shopify CFO

Published

7 hours ago

November 12, 2024

Anne Joseph

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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Business

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

Published

7 hours ago

November 12, 2024

Anne Joseph

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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