Job Boards Versus LinkedIn Which One Gets You Employed Quicker

Always when I first speak to a new job seeker, they are set on action that they think will result in them getting employed quickly. Most often their first action - after dusting off an old CV - is to upload it to a jobs board. Often they have heard of a friend who got employed quickly by just uploading their CV to a jobs board, so they think: why don't I do the same, but to more jobs boards?

As a recruiter and CV Writer, I just want to give you an insight as to why you just lengthened your job search, and how by using free available tools - including your own professional society and LinkedIn - that you can get employed quicker.

Job Boards are a business

Jobs boards as I have written before seem like the modern day panacea to the job seeker. Simply you upload your CV in the morning, and by that afternoon you have a new job. Oh, I wish it were that simple! The average job application via a job board stands between an 8% and 12% success ratio. Further, once you have uploaded your CV/resume, the job boards owner make it very difficult for your to remove. The reason for this is that simply you have upload an asset for them that they can sell to the recruiters.

On average, when a jobs boards comes up for sale, the jobs board as a business is worth about half its turnover as a sell-on price, while additionally each CV/resume in the database is worth at least £1/$1 up to to £10/$15, depending o the age of the database and the market that the jobs board addressed.

Secondly, the job board owners uses upload CV/resume numbers as a way to sell the need for employers and recruiters to place their adverts on that jobs board. While we have 10,000 CV/resume was the mid-market, that's now small when even the local systems in the UK brag of a million candidate CV databases.

The Recruiting business

When I ask job seekers how they think that the recruiting and head hunting business works, most do not have a clue. When you consider still that at least a third to possibly a half of all jobs are dealt with via recruiters, that's not going to speed your job search success.

Recruiters from the mid-market and below, only make money when they make a placement. The employer customer may well pay up to a one third fee retainer to a head hunter, but most recruiters work via a no win (placement)/no fee contract arrangement. That means that each six to eight week brief is in effect a gamble: can you find the right candidate quicker than your competitors, which include the internal HR team. Secondly, although you may find that right candidate, what guarantee's that only you find that job seeker? If another recruiter or the internal HR team have that CV on their existing database, then your fee could be halved at best.

If you knew that your ability to earn was defined by quickly sourcing the right candidate quickly, would you go to the well where everyone else drinks, or go some where quiet? In theory, around one third of the work force is presently looking for a job, one third would move if the right job offer came along, and one third are happy where they are. Hence why would buy into a jobs board where you know that the many desperate job seekers have already listed their CV's on that database - and probably every other jobs board that they could find; or would you go somewhere else?

Why recruiters and employers like LinkedIn

The problem with Jobs Boards is that they only list the same job seekers that as an employer or a recruiter you have probably seen at least twice or more already. For an employer, if you have rejected them already, why bother paying to see them again? For a recruiter, why go where your competition is going? Plus there's always the "registered with three recruiters = rejected" rule, which rejects anyone who looks like a desperate job seeker.

Head hunters and retained recruiters hence often use contacts and systems of the professional societies, knowing that they give them access to the whole of the work force in that sector. The problem in gaining access to such databases is that rightly they are well protected legally and ethically, and hence only the top five percent of candidates are likely to be found that way, through their demonstrated expertise in writing articles and guidance in the publicly accessible professional publications.

Using social media sites, and particularly sites like LinkedIn and Doostang, means that you access not only active job seekers, but also the other two thirds of the work force, who could have better skills and not be listed everywhere your competition is looking. While Doostang is not accessible to Google, the use of boolean search strings in the past few years now allow recruiters to whittle down 100million business person database of LinkedIn to just a few suitable job applicants. Even using LinkedIn's own search facility allows the best optimised LinkedIn profiles to dominate the subsequent search results.

LinkedIn also comes with an added bonus: demonstration of skills. Although you may be found through you profile, the fact that you have demonstratable recommendations from your piers and have answered professional questions through Answers shows a greater depth of capability that someone who just uploaded a CV/resume to a jobs board, and whom you now have to find such demonstration of capability elsewhere.

If you understand the basics of how the jobs board business works, and how recruiters earn their money, then it is easy to understand why improving your profile at LinkedIn will get you employed quicker than uploading your CV/resume to even one jobs board. While the job seeking phase of any job search is about activity, never since the invention of the village notice board has it been more important where your post your CV/resume, and how your demonstrate your proven value, in relationship to how quickly you are employed in the age of the internet.

Promote Your Product

If you want to see your business grow, you are going to have to promote your product. While this may seem obvious to some, it's quite another problem to try to decide which ones to use. There are so many people reaching out to you to use their promotion techniques as you choose how you will do your own advertising. Some ideas may be more practical or appealing to you, deciding on how much time, money and effort you have to give to advertising.

One of the first things that you can do is to advertise your business and products is in the yellow pages. While many people now use electronic devices and the internet to find businesses, there are still those who refer to the yellow pages to find what they are looking for. One advantage of using this form of advertising is that it is not going to be as expensive as others. Get the largest advertisement that you can, as it will draw the attention of others more quickly.

The newspaper is another place where you can promote your products and advertise your business. You can take advantage of box ads and advertising inserts. Also, many local newspapers will run articles promoting businesses and products that may be of interest to their readers. There may also be special interest newspapers that may exist in your area, which will go directly to people who are interested in your product.

Of course, business cards and stationery are important ways to promote your business and let people know what types of products you have to offer. Every time you meet someone or have someone show an interest in your products, you need to give them a business card. Also, stationery needs to have the name of your business, along with phone numbers and a website address, so that you can easily be reached by someone who is interested in your products.

One thing that you can do is to take advantage of every single piece of paper and electronic documents that goes out into other businesses or the public. This includes business cards and stationery, which should include your business name, logo, contact information, and company's slogan. Every envelope should have your business name, return address, phone and fax numbers, your URL and anything else you can fit on there. Outgoing faxes, receipts, bill payments - any piece of paper can be used an advertising tool. Emails need to have your company's signature, which includes all of the information as listed above.

Another way to promote your product is to use a public relations agency. These agencies work specifically to help promote your business in new and unique ways. To do this more effectively, they will generally specialize in one or two specific areas so they can effectively do their job. You can look for a public relations agency that is able to effectively promote your products and business.

One other advertising method that you may want to consider is television advertising. While you probably won't be able to afford to run during the Super Bowl, you can still reach local households. Most television companies will offer various advertising ideas that appeal specifically to small businesses.

Another way to promote your business and products is to have an up-to-date website. If you can't afford to have someone build a website for you, then put up your own site by using one of the simple online web development programs. Most people are using websites to find more about products and businesses. They will also use your website to get your phone number and address.

If you have a website, it's as equally important to have search engines in place so that people can find it. It's not difficult to submit your website to search engines. Some search engines will cost you money, but many of them are free. The more search engines you use, the greater chances there are that people will be able to find your business online.

Be aware of any special events in your community where you can promote your business. County fairs, special events where you can set up a booth and even an open house are all events where you can promote your products. There are several ways that you can do that at these events. You can just be there to meet people and talk to them about your business. You can also have advertising papers with lots of information about your products. Lastly, you can have free items to give away that advertise your business, such as pencils, pens, notepads, etc. Also, you might want to consider a give-away, where people submit personal information in order to win a prize. This gives you an immediate list of possible customers.

Advertising can take on many shapes and forms. However, the most important thing is to do something. Don't expect your business to grow if people don't know that you are out there. Hopefully, you can use some of the ideas listed here to help promote your business and products as quickly as possible.

Occupational Fraud and Abuse Is Real

Occupational fraud and abuse is real even though we would like to believe otherwise.

Organizations incur costs to produce and sell their products or services; these costs run the gamut: labor, taxes, advertising, occupancy, raw materials, research and development-and, yes fraud and abuse. The latter expense of fraud and abuse, however, is fundamentally different from the former: The true expense of fraud and abuse is hidden, even if it is reflected in the profit and loss figures. The 2006 Report to the Nation on Occupational Fraud and Abuse estimates that U.S organizations lose 5% of their annual revenues to fraud. Applied to the estimated 2006 US GDP (Gross Domestic Product), this figure would translate to approximately $652 billion in fraud losses. For closely held businesses the median loss suffered by organizations with fewer than 100 employees was $190,000 per scheme.

This is a subject that most business owners and managers would like to believe is not an expense to their business. Unfortunately it is a real possibility unless one is diligent, aware of the possibilities and a guardian against the environment that fosters behaviors far less than desired.

You may be asking yourself, "Why do I want to know about fraud and abuse in the work place." The answer is that good people need to be vigilant and vigilance requires knowledge. My hope is that these articles will be informative. Myself and a few of my partners are studying and working to becoming CFEs (Certified Fraud Examiners) to support our clients through good education and sound business controls. I hope you will not experience any occupational fraud or abuse in your business or professional careers. Let's get started.

What is occupational fraud and abuse?

Joseph T Wells, CFE CPA, defines "occupational fraud and abuse as "the use of one's occupation for personal enrichment through the deliberate misuse or misapplication of the employing organization's resources or assets." This involves a wide variety of conduct by any person in an organization ranging from sophisticated investment swindles to petty theft. Common violations include asset misappropriation, fraudulent statements, corruption, pilferage, false overtime, using company property for personal benefits and payroll and sick time abuses. The first Report to the Nation on Occupational Fraud and Abuse, set forth in 1996, states, "The key is that activity (1) is clandestine, (2) violates the employee's fiduciary duties to the organization, (3) is committed for the purpose of direct or indirect financial benefit to the employee, and (4) costs the employing organization assets, revenues, or reserves."

Edward H Sutherland, a criminologist at Indian University (1883-1950), actually coined the phase "white collar crime" referring to the sharply pressed shirt collars found in the corporate world with their standard blue, red or black ties.

A brief example of "skimming." A cashier at a fast food restaurant receives an order for a hamburger, fries and a drink totaling $4.00. The server provides the food and takes the cash. But wait, the cashier didn't ring up the sale. Where did the money go? Into her pocket. What are lacking here are controls-one takes an order through the register requiring funds to close the order.

"We often find that many business owners unintentionally place their employees in a position to steal from the company" (The Danger Zone, Jerry L. Mills - CEO and Founder of B2B CFO®, page 180).

This article has been provided by a B2B CFO® partner.

Jerry L. Mills is and author, speaker, contributor, and founder of B2B CFO. He has more than 30 years of business experience. He is frequently quoted in various media outlets such as Fox Business, NY Times, Smart Money, Business Week, and Entrepreneur Magazine, among many others.

Mid-Year Tax Planning Check

It's not quite mid-year yet, but it is almost too late for some tax planning for this year.

Here's a checklist to help make sure you are on track for your tax planning this year.

Point #1
Do you need to add an entity or change how an entity is taxed in your tax strategy?

Entities are one of the greatest tools to reduce taxes. Knowing the right time to add an entity and knowing the right entity to add can save as much as $10,000 per year in taxes. However, the entity needs to be in place in order for the tax savings to occur.

When I create a tax strategy with a client, it's not uncommon for an entity to be created knowing that once it reaches a certain level of income, an election will be made to change how the entity is taxed. Missing this election or not making it at the ideal time can be a very costly tax mistake.

Now is the time to look at adding an entity or changing how one of your existing entities is taxed. Waiting any longer could minimize the tax savings for this year.

Point #2
Are your entities paying you the optimal amounts to minimize your taxes in your tax strategy?

Optimizing how you take money out of your entity is another effective way to reduce your taxes. The amount that is taken and how it is taken can have a huge impact on your taxes. It can also get the unwanted attention of the government.

Now is a good time of year to check in on how your entities are paying you because if changes need to be made, there is still time left in the year to make those changes without having to do one big adjustment at the end of the year.

Point #3
Is your documentation in place?

Documentation is a great way to successfully get through an audit. It is also a great way to increase your tax deductions because proper documentation leaves less room for deductions to get missed.

Documentation is best when it is kept current. An auditor can usually tell when someone has gone back and created their documentation after-the-fact.

Documentation includes keeping proper receipts, keeping mileage logs for your business vehicle and keeping hour logs if you claim real estate professional status.

Don't get behind with your documentation - now is the time to get caught up.

Point #4
Have you been reimbursed for expenses you've paid personally?

Commingling business and personal funds is never a good idea. It can jeopardize the legal and tax status of your business.

To avoid commingling of funds, it's best to pay business expenses with business funds and personal expenses with personal funds.

There is one exception to this and that is business expenses paid by you personally. It is a common business practice for a business to have policy in place to reimburse employees or owners for certain expenses. Common examples include lunch with a client or travel for business purposes.

If you have paid for any business expenses personally and have not been reimbursed, it's time to submit that expense report and get paid. These expenses are easy to forget about and that means the tax deduction could get missed.

And, if your business doesn't have a policy in place to reimburse you for these expenses, it's time to get that in place too.

Point #5
Is your bookkeeping up-to-date?

Have you noticed that each of the above is impacted by your bookkeeping?

Bookkeeping is one of the most powerful tools in a tax strategy. Without up-to-date bookkeeping, it is impossible to determine if anything in your tax strategy needs to be adjusted in order to maximize tax savings.

If you are behind in your bookkeeping, now is the time to get caught up.