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Job Searches Are Full of Uncontrollable Factors

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Job Searches Are Full of Uncontrollable Factors

“God, grant me the serenity to accept the things I cannot change, the courage to change the things I can, and the wisdom to know the difference.” – Serenity Prayer, by Reinhold Niebuhr.

The following scenario is probably familiar to you.

Several years ago, I interviewed for what I believed was my dream job, overseeing a well-known consumer goods company’s contact center. My preparation for the interview was intense. Even though I was nervous on the morning of the big day, I felt prepared.

I was at ease with my interviewer. My charismatic personality helped me establish a strong relationship with him. For 10 minutes, we talked about our mutual love for golf. All the signals pointed to me being in. I left the interview feeling confident I’d be getting a callback or better yet a job offer. Instead, the next day I got an e-mail thanking me for my time… you know the rest.

I was crushed and disappointed beyond words. Years later, now that I’ve made 1,000s of hires, I realize I wasn’t selected because I lacked the experience or skills. I wasn’t chosen because I wasn’t a fit.

When job searching—looking for a new employer—it’s tempting to compare your job search to shopping for a new car or booking a vacation. You envision researching all the jobs available, picking the best, and it’ll be yours. However, job hunting involves many variables beyond your control, including the positions currently available, your competition, and even your interviewer’s mood.

Focusing on the parts you can control will produce much better job search results. (READ: Getting more “Yes!”) As for everything outside your control, admit they’re uncontrollable and don’t take rejections personally.

Here are three things you can’t control during your job search:

  1. Who’s hiring is beyond your control.

When the job search gods are smiling, your network or a job board presents you with a perfect job, employer, and location. However, most of the time, you’re constantly refreshing job boards and contacting your network, hoping to see or hear of a suitable opportunity. You conjure up the right job and employer to suddenly become available.

However, you have control over your efforts.

Your job search will only progress if you devote enough time to it, which is no less than 6 hours daily if you’re unemployed. Yes, some people seem to have jobs land in their lap. Such people have embraced the value of cultivating, and maintaining, an extensive professional network. They are active on LinkedIn and regularly update their profile. Personal branding is something they take seriously. The consistent effort pays off!

Instead of envying those you think have it easier than you or have the success, you wish you had, ask yourself what they’re doing that you’re not.

 

  1. You can’t control the job market.

The job market has always been in flux, but the World Health Organization declaring the COVID pandemic on March 11, 2020, has thrown it into even greater turmoil. Technology, AI, robotics, offshoring, wars, supply chain problems, and pandemics are all out of your control. All these activities and numerous others create economic shifts that directly impact your job search.

However, you can control how you react to the current job market.

Understanding the forces influencing the job market can help you target your job search and anticipate which industry is expanding and which are contracting. Additionally, you can better determine if and how your skills are transferrable to a new, growing industry.

 

  1. You can’t control whom you’re competing against. 

Regardless of your age, you’ll always have to contend with someone younger, more skilled, and hungrier than you. (I know that truisms hurt.) Often your competition is more qualified, charismatic, and articulate than you. A few months after my heartbreaking rejection, using LinkedIn, I looked up who’d been hired. After reading her profile, I thought to myself, “I would’ve hired her.” She had 5 years more experience than me and a better pedigree than past employers. (Yes, the employers you have worked for do influence hiring managers.)

However, you have control over your preparation.

Stressing about your competition is counterproductive. Instead, focus on being well-prepared. Practice, practice, practice!

Interviews are essentially sales meetings. Speaking about yourself, your past achievements, and your strengths, in other words selling yourself, can feel unnatural. Practice, either by yourself or with a friend, talking about yourself as if you’re a product employers must have to improve their business, whether it be increasing revenue, efficiency, or savings.

Another thing that’s beyond your control, is the hiring manager’s final decision. However, you can control how you react and respond to rejection. I believe that for every “No” you receive, you’re closer to a “Yes.”

View your job search as a competition. (Believe me, it is.) Identify what you have control over and maximize them to give yourself every advantage, and that “Yes” you’re after isn’t far off.

______________________________________________________________

 

Nick Kossovan, a well-seasoned veteran of the corporate landscape, offers advice on searching for a job. You can send Nick your questions at artoffindingwork@gmail.com.

 

 

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Telus prioritizing ‘most important customers,’ avoiding ‘unprofitable’ offers: CFO

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Telus Corp. says it is avoiding offering “unprofitable” discounts as fierce competition in the Canadian telecommunications sector shows no sign of slowing down.

The company said Friday it had fewer net new customers during its third quarter compared with the same time last year, as it copes with increasingly “aggressive marketing and promotional pricing” that is prompting more customers to switch providers.

Telus said it added 347,000 net new customers, down around 14.5 per cent compared with last year. The figure includes 130,000 mobile phone subscribers and 34,000 internet customers, down 30,000 and 3,000, respectively, year-over-year.

The company reported its mobile phone churn rate — a metric measuring subscribers who cancelled their services — was 1.09 per cent in the third quarter, up from 1.03 per cent in the third quarter of 2023. That included a postpaid mobile phone churn rate of 0.90 per cent in its latest quarter.

Telus said its focus is on customer retention through its “industry-leading service and network quality, along with successful promotions and bundled offerings.”

“The customers we have are the most important customers we can get,” said chief financial officer Doug French in an interview.

“We’ve, again, just continued to focus on what matters most to our customers, from a product and customer service perspective, while not loading unprofitable customers.”

Meanwhile, Telus reported its net income attributable to common shares more than doubled during its third quarter.

The telecommunications company said it earned $280 million, up 105.9 per cent from the same three-month period in 2023. Earnings per diluted share for the quarter ended Sept. 30 was 19 cents compared with nine cents a year earlier.

It reported adjusted net income was $413 million, up 10.7 per cent year-over-year from $373 million in the same quarter last year. Operating revenue and other income for the quarter was $5.1 billion, up 1.8 per cent from the previous year.

Mobile phone average revenue per user was $58.85 in the third quarter, a decrease of $2.09 or 3.4 per cent from a year ago. Telus said the drop was attributable to customers signing up for base rate plans with lower prices, along with a decline in overage and roaming revenues.

It said customers are increasingly adopting unlimited data and Canada-U.S. plans which provide higher and more stable ARPU on a monthly basis.

“In a tough operating environment and relative to peers, we view Q3 results that were in line to slightly better than forecast as the best of the bunch,” said RBC analyst Drew McReynolds in a note.

Scotiabank analyst Maher Yaghi added that “the telecom industry in Canada remains very challenging for all players, however, Telus has been able to face these pressures” and still deliver growth.

The Big 3 telecom providers — which also include Rogers Communications Inc. and BCE Inc. — have frequently stressed that the market has grown more competitive in recent years, especially after the closing of Quebecor Inc.’s purchase of Freedom Mobile in April 2023.

Hailed as a fourth national carrier, Quebecor has invested in enhancements to Freedom’s network while offering more affordable plans as part of a set of commitments it was mandated by Ottawa to agree to.

The cost of telephone services in September was down eight per cent compared with a year earlier, according to Statistics Canada’s most recent inflation report last month.

“I think competition has been and continues to be, I’d say, quite intense in Canada, and we’ve obviously had to just manage our business the way we see fit,” said French.

Asked how long that environment could last, he said that’s out of Telus’ hands.

“What I can control, though, is how we go to market and how we lead with our products,” he said.

“I think the conditions within the market will have to adjust accordingly over time. We’ve continued to focus on digitization, continued to bring our cost structure down to compete, irrespective of the price and the current market conditions.”

Still, Canada’s telecom regulator continues to warn providers about customers facing more charges on their cellphone and internet bills.

On Tuesday, CRTC vice-president of consumer, analytics and strategy Scott Hutton called on providers to ensure they clearly inform their customers of charges such as early cancellation fees.

That followed statements from the regulator in recent weeks cautioning against rising international roaming fees and “surprise” price increases being found on their bills.

Hutton said the CRTC plans to launch public consultations in the coming weeks that will focus “on ensuring that information is clear and consistent, making it easier to compare offers and switch services or providers.”

“The CRTC is concerned with recent trends, which suggest that Canadians may not be benefiting from the full protections of our codes,” he said.

“We will continue to monitor developments and will take further action if our codes are not being followed.”

French said any initiative to boost transparency is a step in the right direction.

“I can’t say we are perfect across the board, but what I can say is we are absolutely taking it under consideration and trying to be the best at communicating with our customers,” he said.

“I think everyone looking in the mirror would say there’s room for improvement.”

This report by The Canadian Press was first published Nov. 8, 2024.

Companies in this story: (TSX:T)

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TC Energy cuts cost estimate for Southeast Gateway pipeline project in Mexico

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CALGARY – TC Energy Corp. has lowered the estimated cost of its Southeast Gateway pipeline project in Mexico.

It says it now expects the project to cost between US$3.9 billion and US$4.1 billion compared with its original estimate of US$4.5 billion.

The change came as the company reported a third-quarter profit attributable to common shareholders of C$1.46 billion or $1.40 per share compared with a loss of C$197 million or 19 cents per share in the same quarter last year.

Revenue for the quarter ended Sept. 30 totalled C$4.08 billion, up from C$3.94 billion in the third quarter of 2023.

TC Energy says its comparable earnings for its latest quarter amounted to C$1.03 per share compared with C$1.00 per share a year earlier.

The average analyst estimate had been for a profit of 95 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 7, 2024.

Companies in this story: (TSX:TRP)

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BCE reports Q3 loss on asset impairment charge, cuts revenue guidance

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BCE Inc. reported a loss in its latest quarter as it recorded $2.11 billion in asset impairment charges, mainly related to Bell Media’s TV and radio properties.

The company says its net loss attributable to common shareholders amounted to $1.24 billion or $1.36 per share for the quarter ended Sept. 30 compared with a profit of $640 million or 70 cents per share a year earlier.

On an adjusted basis, BCE says it earned 75 cents per share in its latest quarter compared with an adjusted profit of 81 cents per share in the same quarter last year.

“Bell’s results for the third quarter demonstrate that we are disciplined in our pursuit of profitable growth in an intensely competitive environment,” BCE chief executive Mirko Bibic said in a statement.

“Our focus this quarter, and throughout 2024, has been to attract higher-margin subscribers and reduce costs to help offset short-term revenue impacts from sustained competitive pricing pressures, slow economic growth and a media advertising market that is in transition.”

Operating revenue for the quarter totalled $5.97 billion, down from $6.08 billion in its third quarter of 2023.

BCE also said it now expects its revenue for 2024 to fall about 1.5 per cent compared with earlier guidance for an increase of zero to four per cent.

The company says the change comes as it faces lower-than-anticipated wireless product revenue and sustained pressure on wireless prices.

BCE added 33,111 net postpaid mobile phone subscribers, down 76.8 per cent from the same period last year, which was the company’s second-best performance on the metric since 2010.

It says the drop was driven by higher customer churn — a measure of subscribers who cancelled their service — amid greater competitive activity and promotional offer intensity. BCE’s monthly churn rate for the category was 1.28 per cent, up from 1.1 per cent during its previous third quarter.

The company also saw 11.6 per cent fewer gross subscriber activations “due to more targeted promotional offers and mobile device discounting compared to last year.”

Bell’s wireless mobile phone average revenue per user was $58.26, down 3.4 per cent from $60.28 in the third quarter of the prior year.

This report by The Canadian Press was first published Nov. 7, 2024.

Companies in this story: (TSX:BCE)

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