How to Stop Your Job Search From Being Torpedoed by Bad Credit

Think bad credit won’t going to bite you on the bottom when it comes to your job search?

Unfortunately, it just might.

In fact, more than half the companies involved in a recent survey said that they do check the credit history of job applicants.  This makes sense in industries like banking, investments, and others that deal with people’s money.

It can knock you out of the running before you even get started.

Here’s an idea for some preliminary action you can take immediately.  Dump your debt today – right now.  Find some extra money, start taking 10% of your paycheck, give up the latte, or sell some stuff you don’t need.  Pay it down, pay it off.  The amount you’re paying matters less than the fact that you’re paying.

And while we’re talking about debt, let me say that while a mortgage used to be thought of as ‘good’ debt, we all need to take another look at that.  Wells Fargo and Bank of America aren’t doing reverse mortgages any more.  Why?  Because they can’t make a profit in the face of continuously dropping home prices.  Consumers are under water, now the banks that were rescued from the subprime debacle are finding their property-secured loans to grandma and grandpa aren’t so hot.

Here are three things you can do to stop it:

1.  Check your credit rating

Get a free copy from Experian or one of the other credit rating companies.  Or just walk into your credit union and ask one of the people in the loan department to run a quick check on you.  You’ll learn a lot, I guarantee it.

Know where you stand.  Maybe you’re golden.  If so, congrats to you.  If you see something ugly, start thinking about your next move.

2.  Take care of the ugly

The things you’ve seen that you don’t like?  If there’s a mistake, write to the company and let them know.  The tone is impartial and business-like, no matter how infuriated you may be.

If you are carrying a lot of debt, have been unemployed for a long time, or maybe you’ve even lost your home – consider retrenching your financial life.

3.  Consider bankruptcy

Yes, it’s hard to do.  Yes, it costs money.  But there is a time and a place for it.  If you’re underwater, see no way out, and your financial picture is so bleak you just don’t know how you’re ever going to get it straightened out you might want to take a look at bankruptcy.

It carries a burden with it – your credit will be toast for a long time.  There’s a lot of shame around it.  But for some people, the way back is admitting that it might be the only way to fix an unfixable situation.  Don’t just talk with bankruptcy attorneys or counselors – talk with people you know who have experienced it.  Understand the good and the bad.

And whatever you do, make sure you don’t do a bankruptcy then pile on more debt.  Don’t turn your financial life into your own personal ‘Groundhog Day.’

Here’s American Public Media’s piece on your job search and your credit rating – read it!

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Don’t be a Sucker – Avoid Job Scams

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What about job offers that come with strings attached?

Like the ad that wants you to provide not just your resume, but also full personal contact information?

If you wouldn’t provide a copy of your driver’s license or your Social Security number to a stranger, don’t give it away on the internet.

Identity thieves are looking for job seekers so desperate for employment that they’ll give it all away.

I’ve never liked the practice of posting your resume online for everyone to see.  Much of the information is private – be it your phone number, address, or even the companies at which you’ve worked.

Here are a few ways you can avoid scams:

1.  Apply directly

When you apply directly with Google, IBM, Apple or P & G, you’re cutting out the middleman.  Sorry, Monster.  When you get to the point that an HR person needs your proof of citizenship, that’s when it’s OK to divulge more info.

2.  If it’s too good to be true, it usually isn’t

Ads for work from home are usually baloney.  Don’t waste your time with such stuff.  If a company claims they have a long-standing relationship with a Fortune 500 firm, think before you act.  Though HR pros are a vanishing breed, most companies still have ‘em.  Is the offer a ton of money for polishing your nails and eating bon-bons?  No one is going to send you cash for nothing – don’t get sucked in by such stupidity.

3.  Money for a job

Seriously, I’m going to pay someone to get me a job?  No, that’s not the equation.  I’ve been around the block a time or two and no one hires that way.  It’s not a dream, it’s a nightmare.  Run the other way.

Get your documents in order, seek out friends in companies you’re interested in and do the footwork.

Here’s a link to a WSJ SmartMoney blog post on job scams – don’t get caught!

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Obsess About Getting the Work Complete First, Then Create

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There’s a lot of pressure to do exceptional work today.

But let’s try not to follow the example of Dunkin Doughnuts employee Melissa Redmond.

Missy developed her own special sumpin’ sumpin’ called ‘extra sugar.’

Oldest profession in the world, now with doughnuts and coffee.  And she had the foresight to realize that when you provide delivery, you win big.

A twist designed to provide an extra daily bonus.

Creativity is a great thing – just let’s make sure it fits with the company’s product line.

Stay focused and make the most of what your assignment is.  Once you’ve got that humming, then look at getting creative.

And stay away from the ‘extra sugar.’

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Get Back in the Game

Tired?

Scared?

Wondering if it’s worth it?

Take a fresh look at yourself, the situation, and get back in the game.

Fast Company tells you how.

Give Yourself a Raise: Cut Your Debt

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Now that we’ve completed the dreadful drama around the debt ceiling, it’s time to cut your own debt.

What’s this got to do with giving yourself a raise?

Now that our debt rating has diminished, banks will be giving themselves a raise.

For you, it’s a loss if you don’t cut your debt pronto.

If you don’t have a plan to cut and eliminate credit card debt, it’s time to get going and develop one.

Your plan doesn’t have to be complex.  It can be as simple as using SmartyPig to sock away funds you’ll use to dump debt.

Even if all you do is use an extra $20.00 a month to slam against the cards, that’s a win.

Here’s a piece from NPR’s Explainer about the downgrade that will tell you what you need to know.

Related articles

• High Drama Dominates Debt Ceiling Talks (npr.org)
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How to Make More Money Now

Think the fastest way to a raise is actually a new job?

Read the job numbers being reported this morning and you might want to think again.

A job is more than employment – it’s a chance to give yourself more earning power.

Your job is your #1 way of making more money now.  More than stocks, more than buying gold, more than arbitrage – your biggest investment is your job.

Since that’s true, it would be smart to pay more attention to ways you can increase your earnings.

How?

1.  Performance

If you don’t know what your boss wants and what her goals are – book an appointment with her now.  Your job is making your boss look good and helping her make her goals.  And making the goals that have been assigned to you.  If you don’t know what the goals are, you won’t know how to meet them.

Ask your boss directly what the top three things you can do are to turn in a better job performance.  You’ll probably be surprised at the response.

Once you know, make a point of changing your behavior and consciously hitting at least one of the three every day.

Look at the goals you were given during your performance review at least twice monthly and make sure you know where you are in achieving them – and share that information with your boss.

2.  Adjust

It’s not about you – it’s about what the company needs and your role in getting it there.  Change your view and make sure you’re contributing to specific company goals.  Teamwork?  Yes, but never forget it’s you and the numbers when it comes to a performance review.  You either hit the numbers or you didn’t.  Always – but always – hit your numbers.

3.  Everybody sells

It’s not quite as bad as watching Alec Baldwin trample the sales force in Glengarry, Glen Ross - but business is pretty close to that sales meeting.

If people aren’t buying your company’s service or product, there’s no need for you or anyone else at the company.  How are you selling?  It’s not just the responsibility to people in sales.  Are you answering the phone in a way that makes people want to connect with you?  Are you giving complete information?  Are you following up?

A B C – always be closing.

Customer relationships are delicate.  They require not only nurturing, but also consistency.  When the economy is bad, customers want more.  And they stay with companies and people who provide that extra value.

Maximize your income – turn in a stellar performance, share it with others, exceed your goals.

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What Counts

Integrity.

Know-how.

Willingness.

Tenacity.

Results.

Being the first to lend a hand, the first to smile.

The Job Sector Hot as Palm Springs in July

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That would be tech.

Code, anyone?

If you’re a tech engineer or a sales super star, your phone is probably ringing off the hook.

Competition for cloud computing engineers, security experts and mobile developers as well as sales professionals in the technology industry has gotten so fierce in the past six months that companies are going to greater lengths to woo prospective employees. They’re throwing lavish parties, handing out free food at conferences, doling out $50,000 signing bonuses, and offering perks such as free haircuts and medical care at the office.

Go ahead – get your tech on!

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Blast Off: Increase Your Fan Base at Work

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Fandom is a well-known topic.

Fans at work?  Kind of takes getting used to.

Yet likeability is one of the key things that helps people survive layoff after layoff.

And if people at work like you and value your work, they’re definitely fans.

1.  Let ‘em know

Get the word out about good things you’ve done.  When you’ve benefitted the department or company, share it with others.  Successes with customers are especially important at this time.  Encourage others to share your good news – and theirs, too.

2.  Champion someone else

Volunteering to share the good work done by other people can help you go far.  And it certainly turns them into your fans.

3.  Start a new tradition for contributors

Whether it’s a trip to Disneyland, coffee at Peet’s, or a team lunch out, put together some kind of reward or awards for people who contribute and help the company win.  This could be simple or a complex annual event.  Actually, I think the small, simple ‘thank you’ is much more effective and sticks with people longer.  Especially if you can gain the participation of management.

A Peet’s gift card handed out by the CEO?  It makes an impact and increases internal fans of the organization.

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When to Ignore a Recruiter

Hard to believe, but sometimes not engaging with a recruiter really is the right idea.

When?

1.  If you can’t articulate your value and what you want

Some people just haven’t pulled it all together yet.  If that’s the case, avoid recruiters.  Don’t waste an opportunity with a recruiter if you’re not ready.

Have a think about what you’ve achieved, package it and polish it.

2.  If the recruiter’s pushing you into the wrong thing

Some candidates are the right people – except the opportunity presented by the recruiter is wrong for them.

If you know that, tell the recruiter.  If they keep pushing you might want to walk away.

3.  If you’re being pushed too far, too fast

Recruiters need to land a great candidate in the job.  Sometimes that leads to overselling.

If you feel the position takes you too far out on a limb don’t take it.  You’re the one that has to perform in the job.  If you get into the process and sense something’s wrong, it probably is.

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