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Stock futures rise as Wall Street awaits results of midterm elections

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Traders work on the floor of the New York Stock Exchange (NYSE) on October 27, 2022 in New York City. Stocks continued their upward gains Thursday with the Dow rising nearly 400 points following a new GDP report that beat expectations.

Spencer Platt | Getty Images News | Getty Images

Stock futures were modestly higher on Tuesday evening as polls began to close in the United States midterm elections.

Futures for the Nasdaq 100 were up 0.5%, while S&P 500 futures gained 0.2%. Dow futures were marginally higher.

Stocks are coming off three-straight days of gains, with the Dow climbing 333 points on Tuesday for its third-straight session adding more than 1%. The bounce for equities may be partly due to the elections, where Wall Street is expecting Republicans to gain ground and create gridlock in Washington, D.C.

Morgan Stanley chief U.S. equity strategist Mike Wilson said on “Closing Bell” that a divided government could help ease concerns about inflation and higher interest rates going forward.

“In order to get further support for this rally, we feel like rates need to come down. … Tonight’s election could be very important in that regard, because it looks like the House will go the way of the Republicans. That means gridlock. Probably, less fiscal spending will be achieved,” Wilson said. He added that it was unclear whether the markets had already priced in a big night for Republicans.

The market’s recent rally is occurring at the front end of a strong seasonal period. Historically, stocks tend to rise after midterm elections and the policy clarity it brings, and the final two months of the year are considered a bullish period for investors.

One stock that weighed on futures was Disney, which fell more than 6% in extended trading after the entertainment giant missed estimates on the top and bottom lines for its fiscal fourth quarter.

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LCBO workers ratify tentative agreement, strike ends Monday – CTV News Toronto

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  1. LCBO workers ratify tentative agreement, strike ends Monday  CTV News Toronto
  2. LCBO strike to end Monday after workers ratify tentative agreement  CBC.ca
  3. LCBO deal ratified, stores will reopen Tuesday after strike  Global News
  4. LCBO stores could reopen Tuesday after the company, union resolve last-minute dispute  The Globe and Mail
  5. High demand, empty shelves in Sudbury during LCBO strike  Sudbury.com

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Baby Gourmet Foods recalls organic baby cereal over possible bacteria contamination – CityNews Toronto

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Baby Gourmet Foods recalls organic baby cereal over possible bacteria contamination  CityNews TorontoView Full Coverage on Google News

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Show Employers You Can Hit the Ground Running

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Employers are increasingly stating: “We want someone who can hit the ground running.”

Essentially, the message is, “Don’t expect us to explain the basics. We expect you to know your sh*t.” Employers understand you’ll need time to learn their business, applications, software, infrastructure, etc. However, they expect that you’re proficient in Microsoft Office Suite software (Word, Excel, PowerPoint), understand file management (creating, saving, and organizing files), and know how to troubleshoot common computer problems, and won’t be learning these basic computer skills as part of your learning curve on their dime.

Employers aren’t in the business of training people. You’re responsible for your career; therefore, you’re responsible for acquiring the skillset you need.

For an employee’s compensation to be justified, an ROI (return on investment) is required. When referring to employment, ROI refers to the value an employee brings to the company relative to their compensation. Employers pay their employees, and employees work for their wages. Employee work value is created when their work directly or indirectly results in profitably selling the company’s goods and services. Your best chance of job security (no guarantee) is to be an employee who undeniably contributes measurable value to your employer’s profitability.

(Employee’s measurable value to the company) – (Employer’s investment in compensation) = (ROI)

Understandably, employers are looking for candidates who can make an immediate impact, individuals who can jump right in, learn and adapt quickly, and start delivering results as soon as possible. Hence, you want to distinguish yourself as being capable and willing to “hit the ground running.”

Here are some tips to help you present yourself as a fast-starting, high-potential hire:

Emphasize relevant experience

Presenting irrelevant information will be perceived as lacking the ability to communicate succinctly, a highly valued skill in the business world. Only share experiences and quantified results (key), results that are pertinent to the position you’re applying for.

When crafting your resume and cover letter, identify the skills, knowledge, and previous responsibilities/quantified results that align with the job you’re aiming for. By demonstrating that you’ve “been there, done that” and brought measurable value to previous employers in a similar scenario, employers will feel confident that you can immediately deliver value.

Showcase transferable skills

Consider the universal soft skills that employers universally value.

  • Analytical
  • Communication
  • Interpersonal
  • Problem-solving
  • Project management
  • Time management

Tell STAR (Situation, Task, Action, Result) stories—describing a specific situation, the task you were assigned, the actions you took, and the results of your actions—that showcase your soft skills and explain how you can leverage them to succeed in the role you’re applying for. This’ll assure your interviewer you have the fundamental skills to achieve successful outcomes.

“While working at Norback, Jenkins, & St. Clair, I led a team of five architects to redesign a historic downtown Winnipeg landmark according to strict deadlines and complex stakeholder demands. I conducted Monday morning team meetings and used Slack to provide tailored updates to keep the team aligned. As a result of my communication skills, the project was completed on time and under the $7.5 million dollars budget.”

Discuss onboarding insights

A great way to position yourself as someone eager to hit the ground running is to show that you’ve considered what it’ll take to start delivering value.

“Based on my understanding of the typical onboarding timeline for this type of position, I anticipate completing all training and ramp-up activities within my first two weeks, enabling me to begin tackling projects by my first quarter.”

Assuming you’ve researched the company and studied current industry trends, which you should have done, mention the extra steps you’ve taken to prepare for the role. This’ll show your willingness to learn and will require minimal handholding.

Emphasize quick adaptability

Employers value the ability to adapt quickly to new situations and challenges. During your interviews, share examples of your flexibility and agility.

At some point in your career, you’ve likely had to learn something new (e.g., software, operating system) on the fly. Also likely, you’ve had to navigate a major change or disruption. Using STAR stories, explain how you approached these scenarios, your strategies, and the positive outcomes.

By showing resilience, resourcefulness, and adaptability, you demonstrate that you can thrive in ambiguous or rapidly evolving environments.

Propose a transition plan.

Presenting a transition plan is a strategy that wows employers, primarily because it is rare for a candidate to do this. This shows you’re ready to take ownership of your onboarding and deliver results.

Include specifics like:

  • Milestones you aim to accomplish in your first 30, 60, and 90 days.
  • Training activities or learning opportunities you’ll pursue.
  • Initial projects or tasks you’d tackle to demonstrate your capabilities.
  • Ways you’ll quickly build relationships with your new colleagues.

Showing this level of forethought and initiative shows you’re a strategic thinker, able to organize your thoughts, and, most importantly, eager to get started.

By touting your relevant experience, showcasing your transferable skills, discussing your onboarding insights, emphasizing your quick adaptability, and proposing a detailed transition plan, you’ll position yourself as a self-driven professional capable of driving results from the start, differentiating you from your competition.

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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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