October/2012
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BOB Newsletter
Executive Search & Management Consulting Since 1979 
In This Issue
HOW TO INTERVIEW YOURSELF
WOULD YOU RATHER BE OVERPAID OR UNDERPAID?
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Greetings!

This month we illustrate How to Interview Yourself to have higher quality meetings with employers, and we are pleased to present a guest article by Lou Adler on whether it is better to be overpaid or underpaid.

HOW TO INTERVIEW YOURSELF

MAN IN THE MIRROR If you have been a candidate at the executive level, you have probably experienced bad interviews. Perhaps the executive interviewing you had trouble discovering your value. Didn't ask you too many questions. Spent a lot of time talking and not a lot of time listening.   Most candidates leave such interviews frustrated and uncertain of how they did.

 

If you have been a candidate on one of our searches, you know that you have had performance objectives outlined for you in the job profile. Even if the employer did not ask you substantive questions, you knew how to weave in the substantive answers - the things the employer really needed to hear about you to understand why you are qualified.

 

There is a solution for executive candidates who are interviewing on jobs where they don't know the objectives: Discover the objectives in the interview. Ask questions that allow you to find out what the employer really needs. Then give relevant responses. Essentially interview yourself.

 

You start off by dismissing the notion of an "interview."   This is a Customer Visit. You are the product, and you are the head of sales and marketing. Put yourself on an equal footing with the buyer (interviewer). Ask questions. Discover needs, then demonstrate how the product fits the perceived need. Show the Benefit to the Buyer.

 

In standard interviews, most employers first ask candidates to walk through their background, then they move on to "competency" based interviewing - "Give me examples of how you have demonstrated leadership; Tell me about your problem-solving capability", etc.

 

With the customer visit mind-set, your approach would be to insert questions strategically, to discover the need for the skill in context. When the interviewer asks about leadership, give a concise example, then ask: "How do you most need leadership applied right now in your situation?" When asked about problem solving, give a concise answer, and then ask, "Once the right person is hired, what is the biggest issue that needs resolution immediately?" You can't ask these types of questions for each question the employer asks, but you can strategically insert them to get a good feel for what the actual objectives are for the role.

 

If you are asked very general questions, like, "Tell me about yourself", rather than launching into a 10-15 minute monologue that merely recites your resume, use this as an opportunity to be strategic: "I'd be happy to tell you anything you'd like, and I want to make sure it is relevant to your needs. What is the most important objective for this role, so I can tell you how my background will help achieve that objective." Gutsy, yes. But you are modeling the kind of bold, proactive, forward-thinking behavior that most employers would want once you are in the job. You are showing them how the "product" meets their needs.

 

If you get a very talkative interviewer who goes on and on about the company or the job, watch for an opportunity to insert a comment: "I'm glad you mentioned that. I'd like to tell you about a time I solved a similar issue." The interviewer will usually allow you to elaborate.

 

By being an equal participant in the process, by asking questions and making statements that then allow you to give meaningful answers, you are actually helping the interviewer do a better job. At the executive level, most interviewers are CEOs, VPs, who spend their days on other things - they don't interview much. Help them out. Be a partner in the interview, and at least partially interview yourself, and you will have a much more successful experience.

 

WOULD YOU RATHER BE OVERPAID OR UNDERPAID?
 By Lou Adler of Adler Concepts 
Lou Adler 

Lou Adler is the great guru of Performance Based Hiring. BOB Search's Mark Bregman worked with Lou many years ago, and they remain friends. We are very pleased to present this guest piece by Lou, from his recent blog:

 

Would you Rather be Overpaid or Underpaid? By Lou Adler of Adler Concepts

 

Being overpaid for the work you do is not good. It will stunt your career growth. Begin slightly underpaid is good. It will provide more options to maximize you career growth and in the long run maximize your total compensation. Compensation growth must follow performance, not lead it. 

 

In my 30 years in recruiting I have personally negotiated more than 500 offers, and advised on about 500 others. In most cases, rarely was the company willing to pay what the candidate thought he or she wanted. Yet I closed most of them within the budget range. Even better: the candidates never felt short-changed, and in the long run it was the right decision for the candidate. 

 

Whether you're a recruiter, hiring manager or candidate, take heed: it's always better to be underpaid. Here's why, and how I advised my candidates to think about compensation: 

 

1)   If you're overpaid, everyone will expect more of you. Consistent great performance will be anticipated, every mistake will be magnified, and raises will be minimal, to get you back within the range.

 

2)   There won't be a honeymoon period. You'll be under a lot of unnecessary pressure during the learning and ramp-up period. It will be impossible to deliver, since everyone assumes you already know everything.

 

3)   You've unnecessarily burned bridges that don't need burning. Getting a salary premium, beyond the normal range, always requires the hiring manager, the recruiter, and the hiring manager's boss to make a special deal with HR and compensation. They'll get lots of heat for this, and if you don't deliver right away, they won't be able to cover for you, nor will they want to.

 

4)   Bigger jobs will be few and far between. Since it will be very difficult to achieve the unfair and inflated performance objectives, promotions are less likely and your salary will put you out of the range of other inside opportunities. If you decide to leave as a result, recruiters will screen you out since your compensation is above what's available. 

 

Collectively, slower long term growth is what happens when candidates unknowingly pursue a short-term compensation maximization strategy. Instead, I advise candidates to consider a career maximization strategy. The idea behind this is to select jobs that offer the most upside potential, rather than those that offer the most money. If you're a candidate, fight for a bigger job, an earlier review based on your performance, and a chance to be visible. When a recruiter calls, never ever first ask about the compensation. Instead ask about the job, who it reports to, the challenges involved and how these relate to a bigger project or the company strategy. When comparing offers, including a counter-offer, don't go for the bigger bucks, no matter how big, go for the job with the biggest upside potential. 

 

Just before getting ready to negotiate the offer, I ask my candidates if they really want the job, regardless of the compensation. If the answer is no, I stop right there. You should, too. If you don't want the job and you're only taking it for the money, you'll be disappointed. In the long run a career maximization strategy will maximize your compensation. Compensation growth must follow performance. It must never lead it.   

 

 Note: Lou Adler is the Amazon best-selling author of Hire With Your Head (Wiley, 2007) and the award-winning Nightingale-Conant audio program, Talent Rules! His new book, The Essential Guide for Hiring and Getting Hired, will be published in December, 2012.

 

 

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