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This video is part of our professional development series focused on career paths, networking, resume and cover letter, interviewing, and performing in the organization. This series compliments our business and law lecture series.
Visit https://TheBusinessProfessor.com for more information.
Jason Mance Gordon
The Business Professor
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0:01
Okay, in a previous video we talked about the process by which large firms and Fortune
0:08
500 companies bring in employees. Well this is a completely different approach than small and mid-sized firms use
0:17
They don't have the same resources, the same human resources department, the same organized
0:22
summer internship programs, the rotational management programs that these larger corporations have
0:29
These small and mid-sized firms use a completely different technique. They actually sometimes list their jobs locally that they put out there that they are looking
0:41
for these individuals on job boards and things like that to actually attract people to them
0:47
because they're not a known entity that has relationships to bring in qualified candidates
0:53
The number one way is through personal connections. It may surprise you to know that almost 80% of the jobs in the United States, just short
1:06
of 80% are never listed anywhere or never posted anywhere. Now we've already talked about in a separate video, the Fortune 500 jobs that may not be
1:16
listed anywhere that they never posted out there But also when 60 of the employers in the United States are small to mid business most of these small to mid businesses are never posting the jobs that they need
1:29
people for. Rather they're using personal connections to find the talent that they're looking for
1:40
In these situations, what they're doing is asking their customers, their suppliers, their
1:48
other organizations that are affiliated with them in some way, whether they know anyone
1:53
with talent. And sometimes they receive solicitations from them out of the blue and they say, okay, well
2:01
so and so had this person working for them as an intern or part time employee
2:06
I now have their resume. I'll give them a call. And lots of times the position is not competitively offered
2:12
They interview you for a position that may or may not even exist in the organization and
2:16
they bring you in because they realize that you can create value in a given place and
2:21
they create a position for you. So this is extremely common with small to mid-sized firms
2:26
Now unlike the Fortune 500 companies and the large professional practice firms, they don't
2:32
They don't rely on GPA and these having previously taken part in summer internships of a certain
2:41
type rather they simply look at your demeanor and what level of work experience you have When they initially grant you the interview they look and say okay this individual has
2:52
worked in A, B, C or D. They have these skills and can bring this value
2:57
So they rely almost completely on that. They don't look as much at GPA and things like that
3:01
They look that you have a degree but they often times require or want that you have
3:07
a degree but that's not their primary concern. It's more about the skills and things like that
3:12
And then of course, when you come in the interview process as we'll talk about later videos
3:17
is more about finding fit with the employee. So that's the way it works
3:24
Between experienced hires, they're coming in laterally through recommendation. For new hires, lots of times, it'll be again personal connections or contractors that come
3:39
on full time later or maybe a part time employee or a school intern that happens to call up
3:45
the company and ask can they be an intern there for the summer for academic credit or
3:49
experience or during the school year or anytime and the company accepts them in and brings
3:55
them on. Most of my interns, I teach an internship course at my university
4:04
So my interns are there for academic credit during any given semester work part time there rather than full time And often times during the middle of their internship the employer offers them a full
4:16
time job because they fit well, they have the requisite skills they're looking for
4:21
and they're hard working and ambitious. So in that way, that's how most small and medium firms bring on people
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But the key thing I want you to take away from this is the majority of getting a job
4:36
in that situation is through personal connections. Your resume is still going to have a signaling function that you have a level of experience
4:44
or knowledge in this area which tends to be weighted heavily on work experience
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But more than anything else, it's if someone they know refers them over and refers to potential
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employee over and says they're a quality candidate or would be a good worker employee
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then they end up being brought in for the interview and in many cases hired for that position
5:10
So, with that in mind, this is setting the stage for what we'll go into a little bit
5:15
later regarding networking and the importance of establishing some level of connections
5:23
that can help you moving forward in your career
#Jobs
#Career Resources & Planning
#Small Business