Gold Coast Triangle
Recently, I took an exit package from GE Capital - which is - and it's public knowledge - looking to shrink down to less than 30% of net GE Company revenues. You can't shrink revenues without more feet on the street.
Companies are focused on fixing up the balance-sheets for the end of the year. Just as banks are buying US Treasuries at above-par prices (i.e., negative return) to prove they have safe balance sheets, corporates and banks are reducing headcount.
In the "Gold Coast Triangle" - the area in Connecticut from Greenwich to Wilton to Fairfield - or some refer to it as "Hedgefund Alley" - there are slews of men and women suddenly dropping their kids off at school (with the requisite baseball cap to hide morning hair) and picking them up in the afternoon. Starbucks tables are occupied with intent people with laptops using the Wifi. Likewise the local libraries are full (a free resource with WiFi).
I can see a lot of people shaking their heads - "yeah - cry me a river, build a bridge and get over it". But - there are a lot of hurting families in the area. I don't even want to go into the marriage stress.
Job Search
So the job search is what?
1) networking - first among the recommendations of the outplacement centers. However, anyone currently in a position that you contact is so tired of doing their own job, protecting their position and dealing with stress - your phone call, email or offer for coffee/lunch is just one more distraction,
2) internet job boards - good stuff - but is it a winner? Throw your 'on-line' application in with the rest of the 10.2% unemployed Americans (approx 40million people). You think you're the only one with internet access who saw the announcement?!,
3) job fairs - good luck,
4) headhunters/recruiters - remember - they work for the BUY side - they only get paid if they PLACE a candidate - you are the SELL side and get screened and by the way - when they say "8-10 years experience" - they mean from MBA or university or basically up to 35 years old.
Post Road Advisors
For myself, I refocused from being a ping-pong ball in a Lotto drawing "wind machine" - bouncing from job posting to job posting to focusing on international transactions - Europe, Middle East and Africa.
I started my own consulting company - Post Road Advisors ( http://maurice-johnson.com/ )- I've been to Washington DC a few times and Tunis, Tunisia over the summer. We are helping investors locate deals and are considering franchise opportunities. So am I having fun? Yes! Are there days that I want to drive off of a cliff? Sure - but that's business - ups and downs. (And my wife took away my car keys.)
Gift
I had conversations with a headhunter Tom Johnston of SearchPath today. He coauthored an e-book regarding looking for a job. He has done a lot of headhunting (and he defines the difference between 'headhunter' and 'recruiter' in the Forward) and this is what they teach their own staff.
So, I called Tom and asked him if he would give permission to share his book website with you. He responded with a resounding "Of course!"
(just for the record - there is no affiliation among Post Road Advisors, The Examiner and SearchPath and the usual liability disclaimers apply- I just wanted to let you access the guide.)
So here it is: http://www.searchpath.com/candidates.aspx Go to "Download Free e-book".
All the best and I'll see you all soon!!
Maurice Johnson
Post Road Advisors
Global Infrastructure Finance
Tel: 203 450 2498
http://maurice-johnson.com/
http://theviewfrompostroad.blogspot.com/
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