Reveille and Hyperbole: Web2Corp (OTC BB: WBTO), a leading web 2.0 technology
company, has announced that it will be launching a new member to its extensive
network of sites, a video job matching service, JobMatchPro.com. With
JobMatchPro.com, employers will be able to show the position with video. That
will open the potential job candidate's eyes to what the position offers,
showing them the actual place they will be working. On the other hand, the
employer will see just what the potential candidate has to offer and make the
determination if that person could fit within their company.
JobMatchPro.com is similar to
well-known online resume hosting services Monster.com, Careerbuilder.com, and
HotJobs.com, but it offers a unique improvement. It will allow users to post
resumes and search for job openings world-wide, but also both job seekers and
employers can post video to accompany their resumes as well as the job openings
published on the site. By including video along with the traditional text resume
profiles, job seekers will be able to give potential employers a better sense of
who they are, demonstrating their creativity or sharing their skills by live
example. Employers who post positions will be able detail the job offering with
specific interview questions while sharing the environment, workspace, or
location of a specific job.
IIC Partners,
Executive Search Worldwide, a global organization of independent,
retainer-based search firms, has added executive search firm Harvey Hohauser &
Associates to its roster.
Mamma.com Inc., a provider of Internet search and
online advertising services, has launched
MammaJobs.com, a new vertical search engine that gives job seekers free
access to millions of jobs from thousands of company Web sites, job boards,
newspapers and associations. Powered by Indeed.com, Mamma.com allows users to
search jobs using job titles, skills, company names and their location to find
the most relevant and freshest jobs matching their searches. "Mamma.com and
Indeed.com share the common goal of creating a quick and simple search
experience," said Paul Forster, Indeed's CEO "We're delighted to provide Mamma
users with a most comprehensive job search experience - one that enables job
seekers pinpoint the best jobs for them." With the addition of MammaJobs.com to
its product line, the company now has three vertical search engines: Mamma
Health powered by CloserLook, Mamma Videos, soon to be released in beta and
powered by Pixsy.com, and the recent Mamma Jobs powered by Indeed.com.
Deck Chairs: David B. Warhol, previously serving as
director staffing and workforce development of Zachry Construction Corp., has
been named as vice president human resources of
IAP Worldwide Services ... Hilda West, former head of global talent
management at Autodesk, has been named senior vice president human resources of
LeapFrog Enterprises, Inc.... Patrick
Molquin has been named as vice president human resources of
Kronos Incorporated ... Patricia A. Ippolit
is now senior vice president human resources of
United Retail Group, Inc.... John Klinestiver, who was senior vice president
worldwide human resources of Maxtor Corporation, is now vice president human
resources of Atmel Corporation... Executive
search firm DHR International has added
Lynn E. Butler as executive vice president in the firm's Silicon Valley
office.... DirectEmployers Association,
a non-profit consortium of over 200 leading U.S. employers, has elected Robin
Katzman as president for 2006-2007. Ms. Katzman is currently a program manager
for staffing services at Lockheed Martin. She succeeds Ray Schreyer, IBM
Corporation's program manager, Internet recruiting strategies who will continue
on DirectEmployers' board of directors and will serve the coming year as
past-president.
You Should Know:
Last Week in
the News...
U.S. mortgage applications rose 8.1% for the week ending
December 1, fueled by a surge in home-refinancing loans as interest rates
sank to their lowest levels in more than a year, the Mortgage Bankers
Association (MBA) said December 6. The MBA's seasonally adjusted index of
refinancing applications rose 13.7%, while its seasonally adjusted purchase
index rose 4.9%.
The service sector of the U.S. economy also perked up in
November, the Institute for Supply Management (ISM) reported December 5. The
ISM non-manufacturing index of activity rose to 58.9 in November from 57.1
in October, ahead of analysts' forecast of 55.5. A reading above 50
indicates expansion.
Wages and benefits increased at an annual rate of 2.3% in
the third quarter, much slower than the 3.8% advance previously estimated,
the Commerce Department said December 5. Analysts said the downward revision
should ease inflation fears at the Federal Reserve.
Orders to U.S. factories decreased 4.7% in October, the
sharpest fall in six years, the Commerce Department reported December 5.
Wall Street economists had expected only a 4.5% decline.
The number of workers filing claims for unemployment
benefits fell by 34,000 to 324,000, the largest decline in six months. The
decrease was in line with economists' expectations. Meanwhile, private
employers in the United States created 158,000 net new jobs in November,
according to the Automatic Data Processing Inc. (ADP) employment index,
released December 6. It was the largest gain in the ADP index since June.
This week look for updates on the trade deficit on
December 12 and retail sales on December 13.
Global: iCIMS Positioned in Industry
Analyst Firm's E-Recruitment Software 2006 Research Report
iCIMS, a leading Software-as-a-Service (SaaS) provider, today announced its
inclusion in Gartner, Inc.'s Magic Quadrant for E-Recruitment Software, 2006.¹
iCIMS was one of 15 vendors positioned in the magic quadrant that provide
Internet recruitment applications for the full requisition-to-hire process to
companies with more than 2,500 employees. (dbusiness
news)
Group mentality
As social-networking tools sites such as MySpace and Facebook, blog-hosting
services such as Wordpress, Vox and LiveJournal, and even "wiki" tools such as
JotSpot or Socialtext become more a part of the mainstream, companies of all
kinds are looking for ways to incorporate those tools into their businesses, a
development many people are starting to call "Enterprise 2.0." In order to meet
that kind of demand, a new group of companies are emerging that can provide
those kinds of tools and services in an easy-to-administer package, for groups
or companies — large and small — who want a "turnkey" solution. One of the
companies that offers that kind of software is called Ning.com, and was
co-founded by Marc Andreesen, formerly of Netscape. Another is a Toronto firm
that I wrote about recently called PikSpot, which launched last month. (Globe
and Mail)
Salary.com's Profit Test
"Path to profitability." Several years back, that was the buzz-phrase describing
what the hundreds of money-losing start-ups, born in a devil-may-care financial
environment, would need to avoid an early death. The term fell out of use when
it became obvious that any start-up approaching the public markets would need to
show, if not a history of turning a profit, then a very good case it could be
profitable soon. (TheStreet.com)
US: MEASURING THE
SUCCESS OF HIRING MANAGERS
Nearly half the store managers at one company's 40 convenience stores/gas
stations in MO started as entry-level workers who were hired by the preceding
store manager. That's a healthy success rate for store managers who identified
and groomed their successors. Does the company have great hiring managers? Or,
is it just lucky? Unfortunately, it's hard to tell because the company, like
many companies, doesn't evaluate hiring performance of its managers. Who were
those managers who picked the applicants who went on to succeed? How did they
make their hiring decisions? Could the criteria they applied be adopted by other
hiring managers throughout the company? (HR
Magazine)
Recruiters are also expecting a busy
holiday hiring season this year
Seventy-one percent of recruiters said they are confident or very confident the
employment market will improve in the next three months--compared with 61% in
October 2005. During this period of time, the executive search industry is
expecting a 23% increase in the number of six-figure job assignments received
from corporate clients. (Leading
Edge)
Deep Release: Diversity Survey Identifies Key Issues for
Improving Retention of Minority Professionals Within Finance Firms
Recognizing the "Domino Effect" That Leads to Departure Critical First Step;
Mentoring Programs & Institutional Priorities Key
The Robert Toigo Foundation, in collaboration with Heidrick & Struggles, today
released findings from its "Retention Returns: Insights for More Effective
Diversity Initiatives" survey of more than 300 young professionals of color
working in finance. The findings point to a distinct pattern of events that
ultimately lead to the voluntary departure of professionals of color and offers
finance firms recommendations to help reverse the trend.
The Toigo Foundation conducted Retention Returns to provide
finance firms with insights into current diversity initiatives and ways in which
retention efforts might be improved. Conducted in collaboration with Heidrick &
Struggles, a global executive search firm that works closely with major
corporations to address executive talent recruitment and retention issues, the
survey captures viewpoints of professionals of color within the field of finance
— the very individuals finance firms' diversity programs are designed to attract
and support.
"Retention Returns findings echo the challenges many finance
firms have long grappled with in building and retaining diverse teams. It is
clear from the findings, new approaches and new thinking are needed if finance
firms are to create an environment in which professionals of color can thrive
and contribute," said Nancy Sims, president of the Toigo Foundation. "The strong
response to the survey by young minorities underscores their passion for
building their finance career. We want to remain a valued source of input to
industry on these issues."
"Understanding and finding ways to effectively address the
workplace challenges that professionals of color are experiencing is imperative
for today's finance firms that want to employ teams as diverse as the client
markets they serve," said Michael Franzino, Chairman, Global Markets and
Practice Managing Partner for Heidrick & Struggles' Global Financial Services
Practice. "First-hand feedback from the best and brightest minority talent
working in finance underscores the need for finance firms to carefully evaluate
what is working, and what is not, and move forward with different approaches."
Key Survey Findings
Survey findings coupled with insights and actions for
addressing the issues are presented as part of four key themes:
Cycle of Departure: While the circumstances leading to the
decision to leave are different for each individual, Retention Returns' findings
and focus group discussions showed that most voluntary departures fall into a
predictable, often avoidable, pattern. For young professionals of color, the
cycle typically begins with limited access to key deals, which in turn leads to
lack of visibility, and lack of proportionate rewards/recognition. Ineffective
advocacy or internal support was also identified as an important factor in the
cycle. Recognizing the pattern, identifying what triggers the cycle, and
adopting focused approaches for addressing the issues are important initial
steps to address retention challenges. The report identifies several areas in
which firms should consider as part of their efforts to address the "domino
effect" of departure and improve retention.
Mentoring Matters: Mentoring and networking have long been considered
cornerstones of talent development. However, the survey findings indicate that
it may be time for organizations to carefully evaluate programs to realize
better returns. Of those surveyed, 75%-plus indicated a feeling that mentoring
was considered as moderately important or not at all important in their
organizations. Based on the survey responses, one-third of employers invest time
and resources to actively monitor their mentoring programs. The structure of a
formal mentoring program, who is involved, how accountability is assigned and
reviewed are all factors in the overall success of the program.
Performance Management: Survey respondents viewed their employers' delivery of
clear and consistent feedback on their job performance as adequate, with only
33% indicating either "extremely" or "very" clear and consistent feedback.
Informal modes of communicating feedback relating to job performance and
recognition — including email exchanges with supervisors, office discussions and
one-on-one meetings outside of work — were identified as inconsistent when
compared to those used for non-minority peers. Too often, young professionals of
color are outside the informal circle of exchange and, as a result, feel
disconnected from their workplace. Knowledge and informal exchanges critical in
the workplace and professional development are too often out of reach.
Institutional Priority: Finance firms truly committed to reversing the cycle of
departure by professionals of color need to go beyond stand-alone solutions and
examine deeper, more systemic issues. While more than one-third of survey
participants indicated their firms communicate a diversity mandate from the most
senior levels of leadership, a nearly equal number of respondents indicated
their firms have no institutional efforts in place to address minority
retention. Fewer than 20% indicated that their firms effectively utilize
diversity committees as a way to solidify diversity efforts. To make diversity
an integral part of the culture will require a wholesale shift in the way many
aspects of performance assessment and rewards compensation and bonuses are
awarded.
"Linking retention goals and practices to a manager's compensation sends a clear
critical message that retaining a diverse workforce is a critical part of a
firm's success, and those who contribute to the effort will be rewarded," added
Sims. "We know this approach is controversial, and such a dramatic shift in
processes and thinking will be challenging. We also believe it is a critical
step for improving finance firms' diversity retention."
Survey Demographics
Approximately 500 professionals of color were contacted to
participate in the Retention Returns survey, with more than 300 (60%)
responding. The respondents included full-time professionals (260 total) and
second year MBA candidates (40 total). The data and themes presented in the
report focus on issues raised by the 260 respondents employed full-time. The
survey was conducted online, with follow-up focus groups in New York, Chicago
and San Francisco to gather additional information on key themes.
The demographic mix of survey respondents includes 62% African
American, 24% Latino, 8% Asian/Pacific Islander, 2% Native American and 4% who
identified their ethnicity as other. Respondents represented a mix of finance
industry sectors, including asset and wealth management, investment banking,
private equity, real estate, corporate finance and alternative investments.
Nearly 70% of respondents have been with their current employer for less than
four years — a critical timeframe in the employer/employee relationship.
About The Robert Toigo Foundation
As a partner to the finance industry, the Robert Toigo
Foundation (www.toigofoundation.org) serves as a catalyst by inspiring and
supporting people of color to pursue careers in finance. The Foundation provides
a lifetime of leadership training, mentoring and coaching, careers services, as
well as merit-based awards to incoming Fellows. Its network of minority
professionals numbers 500 strong working in all areas of finance and at all
levels of leadership. Through its partnership with finance firms and Fortune 500
corporations, Toigo seeks to promote positive, productive and supportive
environments where these talented professionals will thrive.
About Heidrick & Struggles
Heidrick & Struggles International, Inc. (www.heidrick.com) is
the world's premier provider of senior-level executive search and leadership
consulting services, including talent management, board building, executive
on-boarding and M&A effectiveness. For more than 50 years, we have focused on
quality service and built strong leadership teams through our relationships with
clients and individuals worldwide. Today, Heidrick & Struggles leadership
experts operate from principal business centers in North America, Latin America,
Europe and Asia Pacific.
TopUSAJobs.com: Guide to Top Specialty Boards
TopUSAJobs.com: Guide to Top Specialty
Boards
Where Top Candidates Seek Career Opportunites
Strategic E-HR Conference
Using Technology for Comprehensive Talent & Performance Management
February 28 – March 1, 2007
Coronado Island Marriott
San Diego, CA
$2,195
Agenda