According to the Australian Bureau of Statistics (ABS), January 2024 saw a seasonally adjusted increase in the unemployment rate to 4.1% and the underemployment rate increased to 6.6%. These statistics suggest potential challenges in the labour market, emphasising the need for employers to consider other important factors when deciding to hire. While the beginning of the year may have presented a favourable time to hire, organisations still need to evaluate their current needs and future projections. Factors such as business requirements, budgets, current employee performance/satisfaction and long-term strategy, should all be carefully considered when making hiring decisions. Business Requirements:In the world of IT, there is a significant reliance on contractors brought on board to fulfill short-term or project-specific needs, often requiring specialised or unique skill-sets. However, the process of upskilling current staff to address these needs can be both time-consuming and costly. Velocity Global reports employee’s needing to spend an average of nearly 10 hours a week, or 25% of their typical workload studying and completing upskilling programs. Therefore, this approach may not be suitable for quick, short-term requirements. Hiring a new employee with the necessary skills and experience readily available is often more convenient. Working with a recruiter can significantly reduce the time it takes to hire by more than a month. In a candidate-rich market, employers tend to get inundated with applications, therefore it is not uncommon for the shortlisting process to be lengthy e.g. interview invites can take a few days to a few weeks for individuals to receive. Additionally, employers need to consider an employee’s notice period, which typically is four weeks, further delaying the process. Recruitment agencies add value by saving time for employers, as they invest daily in building talent pools of qualified candidates who are readily available. Similarly, in the blue-collar industry, where turnover rates are high and there’s requirements for a large volume of workers, recruiters play a crucial role in swiftly filling positions. For example, time to fill can be in a matter of hours to a couple of days, providing candidates who are compliant, qualified and ready to start immediately. Budgets:A general rule of thumb is that if the cost of not hiring exceeds the cost of hiring within the next year, then it is certainly the right time to bring on employees. EOFY may present as the right time to hire for many businesses, as it is typically a time for businesses to review their budgets for the past fiscal year and use this to determine how they will allocate resources and set financial goals for the upcoming year. When creating a recruitment budget, businesses should consider the followingFixed costsVariable CostsRecurring costs Time period Advertising RecruitersTraining/Assessments/Compliance Current employee performance/satisfaction:When employees are overwhelmed due to increased workload or a business experiences rapid growth, the demand for productivity often outpaces the capacity of the existing workforce. In such situations, employees may find themselves stretched thin, leading to feelings of being overworked or burnt out. Consequently, this not only affects employee satisfaction and morale but also increases the likelihood of errors and decreases productivity. Moreover, when employees are consistently operating at full capacity, they may struggle to effectively address customer needs or capitalise on business opportunities, ultimately resulting in lost revenue for the company. Therefore, it becomes imperative for employers to recognise these signs of strain within their workforce and take proactive steps to alleviate the pressure. Long-Term Strategy:Long-term strategic planning plays a significant role in determining whether a business should hire additional employees. When considering a company’s growth and sustainability, hiring decisions should align with activities and goals to support this. This could include expanding into new markets, launching innovative products or services, or enhancing customer experience. Additionally, hiring new employees isn’t just about addressing current gaps in capacity but also about building a strong and resilient workforce that can adapt to evolving market and industry changes. To attract the best talent, it is imperative for organisations to implement a long-term recruitment strategy, thereby securing the right talent in place to drive success and achieve organisational goals. In conclusion, as organisations navigate the complexities of the labor market, it's essential to approach hiring decisions with careful consideration of various factors, such as business requirements, budgets, employee satisfaction, and long-term strategic goals. By prioritising these considerations, businesses can ensure they're equipped to make strategic hiring decisions, while building a resilient workforce poised for sustained success in the ever-changing market.
Read More-
What should I consider when deciding to hire?
min read -
Industrial Reforms Transforming the Workplace
min read The Closing Loopholes Bill was split in two parts last December after the first part including laws around the Same Job Same Pay Bill was passed in parliament. Allowing applications to be lodged to the Fair Work Commission (FWC) which ensures labour hire employees are paid an equivalent wage to those directly engaged under a host enterprise agreement (EA).The second part of the Closing Loopholes Bill has been passed through both Houses of Parliament as of February 2024, but is yet to receive Royal Assent (formal acceptance by the Governor-General). Fair Work Legislation Amendment (Closing Loopholes No. 2) Bill 2023 covers the following, but not limited to:Definition of employee vs. employer vs. independent contractor Definition of casual employee and casual conversionMinimum standards and dispute resolution for employee-like workers performing digital platform work Minimum standards and dispute resolutions regulated road transport industry Right of entry for suspected underpayments and increased maximum penalties for underpaymentsRight to disconnect outside of work hours Definition of employee vs. employer vs. Independent ContractorThe new definition of employee and employer will provide clarity to their respective roles and in turn set foundations for protections, rights and entitlements offered, and will be determined by ascertaining the “real substance, practical reality and true nature of the relationship between parties”. Employers will need to be mindful that once a contract is in place whilst the written terms are important, the behaviour and interactions of both parties will play a crucial role in determining the true nature of the relationship and will influence how the relationship will be legally interpreted e.g. employee or independent contractor. Consequently, this may create uncertainty for businesses when engaging contractors, as they may later be classified as employees. The potential for misrepresentation claims known as ‘sham contracting’, will mean an employer must demonstrate that it is ‘reasonably believed’ that the engagement was for an independent contractor relationship to avoid heavy fines.Furthermore, access to dispute resolution will be available to independent contractors below the high-income threshold via the Fair Work Commission in relation to unfair terms in service contracts. Independent contractors who earn above the high-income threshold (undetermined), will have the right to opt out of the employee/employer definition and will continue to have access to solutions for unfair or harsh contract terms.Definition of casual employee and casual conversionLast year we worked on a blog that focused on casual conversion and the proposed amendments to the definition of a ‘casual’ employee. Casual employment will be where:no firm advance commitment to continuing and indefinite workthe employee is entitled to a casual loading or a specific rate of pay for casuals Employers will need to consider the employee’s work patterns, the likelihood of ongoing work availability, offering, accepting (or rejecting) work, and whether other part-time or full-time employees complete a similar role.The pathway to permanent employment will be accessible for employees who have worked for 6 months (or 12 months in a small business) and will be able to request conversion to permanent employment if they believe their working arrangements or work practice no longer meets the definition of a casual. Employers will still be required to offer eligible employees conversion after 12 months. Minimum standards and dispute resolution for employee-like workers performing digital platform work Workers in ‘employee-like’ forms of work, including the gig economy are subject to minimum standards, a consent-based collective agreements framework, and access to dispute resolution regarding unfair deactivation from a digital labour platform e.g. Uber, Airbnb. ‘Employee-like’ workers are characterised by:Low bargaining powerLow authority over the performance of workReceives remuneration at or below the rate of employees performing comparable work. Employers need to be aware of the distinction between ‘employee-like’ workers and independent contractors. Misalignment is common and could potentially raise questions regarding their classification and entitlements, highlighting the importance for employers to remain informed on the new law and uphold fair treatment to all. Minimum standards and dispute resolutions regulated road transport industry Workers in the road transport industry are subject to new minimum standards, a consent-based collective agreements framework and access to dispute resolution for road transport contractors that have been unfairly terminated. Standards may include terms about payment, deductions, working time and insurance. The Fair Work Commission cannot include terms that would change the form of engagement or how they are hired/treated. The new ‘unfair termination’ dispute resolution process will be available for road transport contractors who have worked for a road transport business for at least 12 months. Right of entry for suspected underpayments and increased maximum penalties for underpaymentsUnions currently give an employer at least 24 hour notice that they wish to enter a worksite. The new law will allow unions to go to the Fair Work Commission for an ‘exemption certificate’ which will waive the current process if it concerns the underpayment of wages or other monetary entitlements. Employers need to assess existing procedures to ensure they align with the new amendments. Right to disconnect outside of work hours The amendments will introduce a new law allowing employees to refuse to answer or monitor unreasonable work calls and emails in their unpaid personal time from an employer or third party. Employees will be able to raise a complaint via the Fair Work Commission, in which organisations can face hefty fines if found responsible. It is encouraged that employers set clear expectations to mitigate misunderstandings. In conclusion, the industrial reforms that lie within the Fair Work Legislation (Closing Loopholes No.2) Bill presents a crucial opportunity for employers to understand and comply with the new updates. By staying up to date and proactive, organisations can adapt to these changes effectively and foster a culture of compliance and fairness in the workplace. For more information about these changes, please visit the Parliament of Australia website. If you found this blog post useful and want to stay updated with what is going on in your market, please email us at sirius@siriuspeople.com.au
Read More -
Key Changes to Fixed Term Contracts for Australian Employers
min read From the 6th December 2023, changes come into place for employers who engage employees on Fixed Term Contracts (FTC). What is a Fixed Term Contract? A fixed term contract has a specified end date. It is not to be confused with a maximum term contract which also has a fixed end date but can be terminated by either party before that time. However, maximum term contracts will also be affected by the following changes. What are the changes?It is a requirement for employers to provide all employees engaged on a Fixed Term Contract from 6th December 2023 a Fixed Term Contract Information Statement (FTCIS), it will be available to download on the Fair Work website from that date. Time Limitations: A fixed term contract cannot be longer than 2 years including extensions and renewals Renewal Limitations: Employers cannot extend/renew a FTC more than once even if it falls within the 2 year period. When an employer extends/renews a contract it cannot exceed more than 2 years of workNew/Consecutive Fixed Contracts Limitations:A new FTC cannot be issued if the new contract is mainly for the same work as the previous FTCThere must be a substantial break between the previous and new FTCThe combined total period of employment between the previous and new FTC is no more than 2 yearsA new FTC cannot be issued if the previous FTC wasextendedA new FTC cannot be issued if the initial FTC (prior to the most recent contract) was for mainly the same work or there was continuity of the employment relationship from the period of time between the initial contract and the previous contract. If the employee has never been engaged in a FTC in the past with their employer, then a FWIS Fair Work Information Statement should be issued in conjunction with the FTCIS. Are there any exceptions to the rules?Specialised skillsTraining arrangements e.g. apprenticeshipsEssential work e.g. seasonal workersEmergency circumstances or temporary absencesEmployees surpassing the high-income threshold e.g. $167,500 per annum full timeGovernance rolesAward provisions Why are these changes coming into effect?These changes are being implemented across the country after the Federal government came under scrutiny for the overuse of fixed term contracts. The aim is to hinder employers from entering into successive fixed term contracts, which reduces permanent job opportunities for the 390,000 Australians who are currently engaged on fixed term contracts. What happens if I do not comply with these new rules?The contract’s expiry date will no longer apply, while other terms and conditions outlined in the contract will still apply, including entitlements from any relevant legislation, award, or agreement. Penalties will also apply. What do employers need to do?Review current contracts of employment to ensure you are well equipped to comply with the changes coming into place on the 6th December 2023. Prepare and create process documents for when FTC’s are offered/expire so there is a plan in place for offboarding/retaining these employees Ensure a FTCIS is given to the employee prior to the commencement of their contract Visit the Fair Work government website to find out more or reach out to one of our friendly consultants who would be more than happy to assist you with navigating these changes.
Read More -
Salesforce: A year in review
by Sirius Peoplemin read On average I speak to around 50 candidates, and a further 30 business leaders / hiring managers EACH WEEK. These conversations have shaped my perspective and understanding of the Salesforce ecosystem. Here is what I have learnt from their experiences so far…To give you some backgroundDuring 2021/2022 there was a dramatic increase in demand for all IT roles, particularly Salesforce professionals, due to the economic pause of 2020 and the shift in business requirements post-pandemic. Resulting in many Salesforce positions being left vacant. To keep up with demand, there was an influx of junior candidates entering the market being upskilled through various training companies and consultancies offering a ‘learn and you earn’ style of employment. With such high demand, salaries were heavily inflated and to retain staff, businesses were having to offer expensive counter-offers. Fast Forward to 2023Due to economic pressures with interest rates, inflation and an uncertain economy, businesses refrained from investing in new technology. This not only affected new sales for Salesforce but also resulted in a reluctance among businesses to allocate resources to digital transformation technologies, hence Salesforce was frequently overlooked. However, we did see a shift towards growing internal Salesforce teams, rather than the use of Salesforce partners for managed service solutions. Therefore, positions like ‘Salesforce Administrator’ or ‘Salesforce Platform Owner’ were on the rise. Having dramatically hired junior-mid level professionals in 2021/2022 (usually with inflated salaries), Salesforce partners had no choice but to initiate surges in redundancies, leaving candidates without a job and companies flooded with applications- sometimes exceeding 100 per role. This overwhelmed recruitment processes and left internal talent teams and hiring managers stuck wading through hundreds of applications. This pattern continued throughout most of the year….In the last quarter, there seemed to be a positive shift in the market, business confidence had returned and there was more talk of digital investment. Companies wanted to hire Salesforce talent, with a preference for more experienced candidates. However, the challenge was, that those experienced candidates who had seen the market downturn at the beginning of the year, didn’t want to risk leaving their secure jobs to start a new role, with a 6 month probation period. In response to this, we often saw internal recruitment teams try to attract the right candidates via adverts, given the high number of applicants seen earlier in the year. However, after multiple rounds of advertisements and CV reviews with little to no success, employers struggled to find the right talent. With poor recruitment processes in place, many candidates have become disillusioned with companies they’ve applied to but never heard back. As we head to the end of the year, the future seems brighter for the Salesforce recruitment ecosystem. With more businesses looking to invest in their Salesforce solution in the new year and some projects kicking off early which has driven a need for Contractors.In terms of talent flow, it appears that salaries aren’t going to spike like they did in 2021/2022 and candidates can expect a small increase in salary for their next role. We will also see some candidates taking a side step in their next role in order to gain experience on other / newer Salesforce technologies.
Read More -
What you need to know about the Same Job Same Pay Bill
by Sirius Peoplemin read Edit 14.2.24On 7 December 2023, the Fair Work Legislation Amendment (Closing Loopholes) Bill 2023 passed through the Senate, including provisions that prohibit companies from undercutting Enterprise Agreements to offer lower wages to labour hire workers.***The Same Job Same Pay Bill aims to close the legal loopholes that allow employers to pay labour hire workers less than someone permanently employed directly through an employer, when performing the same role. This is prevalent amongst larger employers who seem to deliberately curve agreed rates offered in Enterprise Agreements, by outsourcing work to labour hire contractors and engaging in enterprise bargaining. The Fair Work Legislations Amendment (Closing Loopholes) Bill 2023 aims to address this issue. If this Bill is passed in Federal Parliament later this year, it will allow workers and their Unions to apply for a ‘protected rate of pay’ based on the host employer’s Enterprise Agreement. It is the host employer's responsibility to ensure they provide the labour-hire business with all required information aka ‘Protected rate of pay,’ to ensure such agencies who are responsible for paying employees do so fairly, and on par with someone employed directly through the host employer doing the same job. There is a misconception that workers who are more experienced or have longer tenure in their roles will be paid less. Resulting in some businesses facing challenges surrounding budgets, competitiveness and retention. However, this is highly unlikely as there are awards and pay deals in place that include different job classifications and grades that the Enterprise Agreements take into consideration. Additionally, it is common for casual employees to be paid more than their full-time counterparts to compensate for the lack of entitlements. Therefore the bill will include a fair definition of ‘casual’ work to ensure that casuals in long-term, on-going roles can access entitlements and prevent exploitation. About one in 50 people employed in Australia are employed through labour hire.How can using a labour hire agency assist with navigating this policy?Employers should continue to utilise labour hire agencies to effectively manage short-term needs, unexpected demand surges and absenteeism. Whilst there are some sectors that are likely to be unaffected by Same Job Same Pay such as Administration, Tech and Healthcare there are concerns that these firms can still face large compliance costs and create more red tape. Due to an obligation being placed on employers to ensure labour hire agencies are fed the right information for any pay differences and paid correctly and fairly. Streamlined payroll processes to minimise errors, therefore reducing the likelihood of employers enduring large-scale back payments.Employers often use labour hire agencies to engage casual workers, often opting for temp-perm hires, meaning employers can ‘try before they buy’ allowing these casuals to be bought on full-time after 3-6 months. Therefore, employers have flexibility to place these casuals in the business where they need, without having to pay an agency an upfront lump sum fee. Have questions or thoughts to share about fair compensation? We're here to listen. Contact us today to explore how we can work together toward a more equitable workplace at sirius@siriuspeople.com.au
Read More -
Why is employer branding important for recruitment in today's market?
min read Why is employer branding important for recruitment in today's market?In today's competitive job market, attracting and retaining top talent requires more than just offering a paycheck. It's about creating a compelling identity for your organization that resonates with prospective employees. This is where employer branding steps in. In this blog, we'll explore why employer branding is crucial for recruitment in today's market and how it can give your company a competitive edge.Defining Employer BrandingEmployer branding is the art of crafting a distinct and authentic image of your company as an employer. It encompasses the values, culture, mission, and work environment that set your organization apart from others. Just as consumers seek brands that align with their values, job seekers are drawn to companies that align with their professional aspirations.The Importance of Employer Branding in RecruitmentAttracts Top Talent: In a talent-driven economy, the best candidates have choices. A strong employer brand distinguishes your company, making it an appealing destination for top-notch talent. It also helps you attract passive job seekers who might not actively be looking for a new role.Increases Application Quality:When candidates are genuinely excited about your company's values and culture, they're more likely to apply. This means a higher volume of applications from candidates who align with your company's ethos and are more likely to excel in their roles.Boosts Employee Engagement and Retention: A positive employer brand not only attracts new talent but also keeps existing employees engaged and committed. When employees feel proud of their workplace, they're more likely to stay, reducing turnover and the associated costs.Enhances Company Reputation: Employer branding isn't just for prospective employees; it also influences how the public perceives your company. A strong employer brand can improve your overall corporate reputation, making it more appealing to clients, partners, and investorsLowers Recruitment Costs: A well-established employer brand reduces the need for expensive recruitment campaigns and external agencies. Word-of-mouth referrals from satisfied employees become a powerful recruiting tool.Strategies for Effective Employer BrandingDefine Your Unique Value Proposition:Identify what makes your company stand out from the competition. Is it a flexible work environment, a commitment to social responsibility, or innovative projects? Highlight these aspects to create a unique value proposition.Showcase Employee Stories: Humanize your company by sharing stories of your employees' experiences. This helps potential candidates visualize themselves as part of your team.Consistent Branding Across Platforms: Maintain a consistent employer brand across your website, social media, and job descriptions. This coherence helps create a unified and trustworthy image.Engage Current Employees: Your employees are your best brand ambassadors. Encourage them to share their experiences on social media, participate in company events, and refer potential candidates.Transparency and Authenticity: Be transparent about your company's values, culture, and challenges. Authenticity resonates with candidates and fosters trust.Invest in Employee Development: Show your commitment to employee growth by offering training, advancement opportunities, and mentorship programs.In today's dynamic job market, employer branding has emerged as a critical component of successful recruitment strategies. It's more than a buzzword; it's a way to create a lasting impression that attracts, engages, and retains top talent. By authentically showcasing your company's values, culture, and opportunities, you can differentiate yourself from the competition and build a strong pipeline of exceptional employees. Remember, in the age of information, your reputation as an employer precedes you—so make it count.
Read More -
Navigating with Care: How to Avoid Layoff Communication Blunders
min read In challenging times, companies might find themselves facing the difficult task of announcing employee layoffs. While the decision itself is tough, how the communication is handled can significantly impact the company's reputation, employee morale, and overall organizational health. To navigate these waters with sensitivity and professionalism, it's crucial to avoid layoff communication blunders that could exacerbate an already challenging situation. Here's a guide on how to communicate layoffs effectively and compassionately:1. Plan Thoroughly:Before announcing layoffs, ensure that you have a comprehensive plan in place. This includes identifying the key stakeholders, crafting the message, and detailing the logistics of the process. Rushed communication can lead to misinformation and confusion.2. Choose the Right Time:Timing matters. Avoid making announcements on a Friday or just before a holiday, as this can leave affected employees feeling isolated and unsupported during the following days. Aim for mid-week, giving employees the opportunity to seek assistance and ask questions.3. Be Transparent:Honesty is paramount. Clearly explain the reasons behind the layoffs, whether they're due to financial constraints, restructuring, or other business factors. Being transparent helps employees understand the situation and reduces speculation.4. Personalize the Message:While it might be tempting to send a mass email or generic memo, personalized communication shows that you value each employee's contribution. Whenever possible, deliver the news in person or via a video conference to demonstrate empathy and provide space for questions.5. Offer Support:Losing a job is a significant life event. Provide information about severance packages, benefits continuation, and resources for finding new employment. If possible, offer outplacement services or assistance in updating resumes and preparing for interviews.6. Train Communicators:Anyone involved in delivering the news should be well-prepared to handle emotional reactions, questions, and potential pushback. Sensitivity training is essential to ensure that the communication process remains respectful and compassionate.7. Provide a Listening Platform:Create opportunities for employees to share their thoughts and concerns after the announcement. This can be in the form of town hall meetings, individual discussions with managers, or even anonymous feedback channels. Actively listen and address questions to the best of your ability.8. Maintain Confidentiality:Protect the privacy of affected employees. Avoid sharing personal information and ensure that the news is only communicated to those directly involved in the process.9. Offer Continuing Communication:Layoff announcements should not mark the end of communication. Provide regular updates to the remaining employees about the company's progress, future plans, and any steps being taken to prevent similar situations in the future.10. Learn and Improve:After the layoffs have been communicated, take the time to review the process. Collect feedback from both affected and remaining employees, and use this information to improve your approach for future situations.11. Focus on Rebuilding Morale:Work on rebuilding trust and morale among the remaining employees. Demonstrating care, support, and appreciation can help create a sense of unity and boost productivity.Layoffs are undoubtedly challenging, but they don't have to be disastrous for a company's reputation and culture. By planning thoroughly, being transparent, offering support, and maintaining open communication, you can navigate this difficult process while minimizing the negative impact on your employees and your organization as a whole. Remember, the way you handle layoffs can speak volumes about your company's values and commitment to its workforce.
Read More -
Afraid of Changing Jobs? How to Challenge Your Fears
min read -------Change can be both exciting and daunting, especially when it comes to changing jobs. The fear of leaving the familiar and stepping into the unknown can hold us back from pursuing better opportunities, personal growth, and professional fulfillment.If you find yourself paralysed by the thought of changing jobs, know that you're not alone.In this blog, we'll explore common reasons for job-change anxiety and provide practical strategies to challenge these fears.Understanding the FearFear of the Unknown: One of the primary reasons people hesitate to change jobs is the fear of the unknown. We become accustomed to our routines, colleagues, and work environment. The prospect of venturing into a new workplace can be intimidating. It's essential to acknowledge this fear and remind yourself that growth often lies beyond your comfort zone.Financial Insecurity: The stability of your current job might make you reluctant to leave, especially if you're worried about financial stability in a new position. Assess your financial situation, create a budget, and save an emergency fund to provide a safety net during the transition period.Impostor Syndrome: Many individuals struggle with feeling like they aren't skilled or qualified enough for a new job. This impostor syndrome can hinder progress and growth. Remember that your skills and experience have led you to this point, and you're capable of adapting and learning in a new role.Challenging Your FearsResearch and Preparation: Knowledge is a powerful antidote to fear. Research the prospective company, its culture, and the role you're considering. Having a clear understanding of what to expect can help alleviate anxiety.Networking: Connect with professionals who have experience in the industry or company you're considering. Their insights can provide a realistic perspective and valuable advice.Skills Assessment: Identify the skills you currently possess and how they can be applied in the new role. Often, you'll find that your skills are transferable and valuable in different contexts.Visualisation: Imagine yourself excelling in the new position. Visualization can help rewire your brain to associate positive feelings with the change.Set Realistic Expectations: Understand that change takes time and there might be a learning curve. Set realistic expectations for yourself and be patient as you adapt to the new environment.Embrace Lifelong Learning: Adopt a growth mindset. See every new job as an opportunity to learn and improve. The excitement of personal development can outweigh the fear of change.Create a Support System: Share your thoughts and concerns with friends, family, or a mentor. Their encouragement and guidance can bolster your confidence.Taking the LeapChanging jobs is a significant decision that requires careful consideration, but fear shouldn't be the driving factor. Embrace change as a chance to expand your horizons, learn, and grow. Remember that discomfort often precedes growth, and overcoming your fears can lead to a more fulfilling and satisfying career.The fear of changing jobs is a common sentiment that many people experience. By understanding the root causes of your anxiety and implementing practical strategies to challenge these fears, you can navigate the process of changing jobs with greater confidence. Embrace change as an opportunity for personal and professional growth, and remember that you have the power to shape your career path in ways you may not have imagined before.You'll never regret taking the leap!
Read More -
Part 3 - Common Interview Questions and Answers
min read EducationIf you could, how would you plan your University career differently?I wouldn’t change anything. All that I have done was a great learning experience that I will carry forward throughout the rest of my life. How has your education prepared you for your career?To answer this question successfully, you will need to focus on the behavioural examples in your educational background that aligns to the required competencies for the career path you’re on — more specifically, the role you’re interviewing for.For instance:My education has focused on not only learning the fundamentals, but also the practical application of what we learned in class. We were often encouraged to go out and seek internships on- and off-campus, which is how I ended up in a leading a team as part of a research role, where we gathered and analysed best practice data from this industry. The results of this… How will the academic program and coursework you’ve taken benefit your career?As you will note on my resume, I’ve taken not only the required core classes for the finance field, I’ve also gone above and beyond by double majoring in accounting. I double majored as I knew that the financial consulting field requires much knowledge of portfolio analysis and understanding of the tax laws. I believe that my success in both areas of study have specifically prepared me for this area. But it’s not just taking the classes in these two areas that allow me to offer Westpac clients more. I also minored in French to understand the needs of the growing French community in Maroubra, which, as you are well aware, is a growing source of revenue for this particular branch. If you’d like, I can elaborate on other aspects of my education further. What University courses or subjects did you like best? Why?My favourite courses have been the ones pertaining to my major, which is marketing. These classes have laid the groundwork for my career in marketing. They also have taught me soft skills that I can bring to my employer, from communication skills to interacting with others. Are you the type of student for whom conducting independent research has been a positive experience?Yes, I love it. I thoroughly enjoyed my senior research project in University whilst many others in my class were miserable. I was never tired about learning about the topic and found it exhilarating to be researching something that has not been studied in-depth before. Describe the type of professor that has created the most beneficial learning experience for you.My favourite professors were the ones who gave me hands-on learning experiences that I can apply to my career. Any person can make you memorise the quadratic equation, but someone who can show you how to use it and why were the ones that I liked. I prefer professors who realise that sometimes there is more than one answer and that everyone things differently. Do you think that your grades are an indication of your academic achievement?I have focused much of my energy on work and obtaining real-world experience. I commend my classmates who have earned high GPAs, but I also feel it’s important to be well-rounded as an individual. In addition to work experience, I participated in sports and extracurricular activities in school. These activities taught me leadership, communication, and teamwork skills. Sometimes my heavy load has not allowed me to keep up with some of my studies, but I have learned an enormous amount that I can apply in my future industry. As you will discover when you talk to my supervisors, my ability to work effectively is much more reflective of my future potential than my GPA. What plans do you have for continued study? An advanced degree?I plan to continue my education for the rest of my life. In any technology-related field, keeping up to date through continuing education is of the utmost importance. Continuing education can include on-the-job training, courses sponsored by the employer, and courses taken in new technologies as they emerge.I plan to be not only a career employee, but a career student so that I can be the best information systems analyst I can be. I will ensure, however, that any education I pursue not only doesn’t interfere with my job or the company’s policies, but will enhance my value as an employee. Please describe the ideal role for you after graduation.My ideal job is one that incorporates both my education and practical work skills to be the best I can be. Namely, combining my education in finance with my working knowledge of customer service operations, entrepreneurial abilities, computer skills and administrative skills. I was to utilise my analytical expertise to help people meet their financial goals. This is why I’m convinced that I would be a very valuable member of the [company] team. For management roles...What qualities do you feel a successful manager should have?Focus on two words: Leadership and vision.Here is a sample of how to build your answer around these two key thoughts:The key quality in a successful manager should be leadership — the ability to be the visionary for the people who are working under them and to motivate them accordingly. It’s the person who can set the course and direction for those who work under them. You should be working toward inspiring them, just as much as they inspire you to be the best leader you can be. Let me tell you about this incredible person I have the opportunity to work with and whom I aspire to follow in their footsteps…Then give an example of how someone has touched your life and how their leadership has helped you in your personal and professional development. About the companyTell me what you know about the company.You’re a large and well-respected company worldwide. You’re both a clinical and teaching hospital. Over the last 60 to 70 years, you’ve produced award-winning research. In reviewing your website, I’ve familiarised myself with many of your corporate goals and objectives. Why did you decide to seek a position in this company?I am convinced that there would be no better place to work than Accenture. You are one of the top consulting firms in Australia. You provide your employees with the tools they need to stay competitive in the market and sharpen their skills whilst working in an open, team-based environment. I am also aware that you provide a mentor for all new employees and I would embrace any opportunity to work with a mentor and eventually become one myself. About the job locationDo you have a geographical preference?Although I would prefer to stay in the greater Melbourne area, I would not rule out other possibilities. Why do you think that you might like to live in the community in which our company is located?Just a few weeks ago, I had the opportunity to spend several days in your community and fell in love with it. I love the fact that you have a thriving riverfront. I’m impressed with the many cultural opportunities here – opera, theatre, art and independent films. I’ve also already become a fan of some of the sports teams based here. I have conducted a significant amount of research on this city, so I am quite comfortable with this location. Would it be a problem for you to relocate?I’m open to new opportunities within the company; if those opportunities involve relocation, I would certainly consider it. To what extent would you be willing to travel for the job?I am more than willing to travel. I understand the importance of going above and beyond the call of duty to satisfy customer requests is sometimes required and that Merrill Lynch’s customer focus belief means that travel is expected in some circumstances. I am willing to make this commitment to do whatever it takes to develop that long-term relationship with a small business or client.It is only through this relationship that loyalty can be maintained and financial gains and growth can occur for both the client and Merrill Lynch. It is my understanding from other financial consultants that I have interviewed at Merrill Lynch that this occurs maybe one or two times per month. Good luck!Now that you have an idea on how you may want to answer some of the most common interview questions, be sure to check out our blog post all about what you need to do to prepare for a job interview.See a job you're interested in? Reach out to one of our consultants:Sirius Consultants
Read More -
Part 2 - Common Interview Questions and Answers
min read Judgement & problem-solvingGive me a specific example of a time when you used good judgement and logic to solve a problem.I had a client come into the bank where I worked and request a $5,000 personal loan to ‘pay off some bills.’ In the customary review process, I determined that what was really needed was a $25,000 debt-consolidation loan. Rather than giving the customer a ‘quick fix’ to the problem, I logically solved the problem in a way that was in the best interest of both the bank and the client. Describe a time when you were faced with problems or stresses that tested your coping skills.Arriving in France in the middle of the night with very minimal French speaking skills, I found my way to the small town my host family was living in – a small town with no street addresses or names and found my temporary living accommodations, as I was doing hand over from the previous au pair. I was scared, but I handled the situation very well and very calmly. In very stressful situations, I am always the one in the group to stay calm and focused. My friends, family and professors have always said that I am an oasis of calm in a storm. Give me an example of a time in which you had to be relatively quick in coming to a decision.This happens often in the IT industry, but one recent example was when we had a core backbone switch die. It died at the worst possible time – during exams – as they always seem to do, and I needed to get it back up and running quickly.I analysed the logs and system status, and used my previous experience to make some quick decisions that rectified the problem and got the equipment back up only minutes later. Give me a specific occasion in which you conformed to a policy with which you did not agree.When I worked at Bunnings as an assistant manager, I was always looking for a way to boost my employees’ morale. Unloading trucks is a very routine and physical job and can become very boring and exhausting. So, to improve the unloaders’ attitude toward their duties and make the best of the situation, I put a radio in the receiving dock.It worked; however, the district manager did not approve of the radio in the workplace even though it did not interfere with any set policy of company objectives. The radio was also out of any areas where customers would hear the music.I did not agree with my DMs decision, however when he explained to me that it was a health and safety issue, I understood his reasoning and quickly complied to his request. The employees were not happy that their radio was gone, so I found an alternative method of reward and morale boosting by implementing a program in which we provided lunch for the unloaders from any restaurant of their choice if they unloaded the trucks faster than usual. The program was successful in increasing their unloading time from 2.5 hours to only 1.5 hours – a savings in payroll of 8 per cent for that shift. Conflict resolutionHow would you evaluate your ability to deal with conflict?I believe that I am quite good at handling conflict. In my previous role, I was required to make unpopular decisions at times, whether it was terminating and employee or pushing back on changes from more senior management that I felt would not be best practice for the business.No matter the reaction of the person in conflict with me, I would always make sure that I explained the situation and my point of view clearly, the policies, stats and research behind my decision and explain its importance to the project or to my point of view. By the end of the conversation, the other person would usually understand my point of view and I would ensure to ask enough questions to fully understand their point of view. Have you ever had a conflict with a boss or professor? How was it resolved?Note: If you say ‘No,’ interviewers will likely keep drilling deeper to find a conflict.However, if you say ‘Yes,’ the key is to show how you reacted to the conflict and what you did to resolve it.For instance:Yes, I have had conflicts with my manager in the past. Never major ones, just disagreements that needed to be resolved. I’ve found that when conflict occurs, it helps to fully understand the other person’s perspective. So, I take time to listen to their point of view before working toward finding a collaborative solution. For example…Be sure to show your process in resolving the conflict and how you work collaboratively with the other party. Your motivatorsWhat is more important to you, the job itself or your salary?A salary commensurate with my experience and skills is important, but it’s only one piece of the package. Many other elements go into making up a compensation package, but more importantly, it’s critical to me that I enjoy what I’m doing, fit into the company culture and feel like I’m making a contribution in order to be the most successful version of myself. What level of compensation would it take to make you happy? I am not dependent on money to make me happy. What makes me happy is having a satisfying job that provides challenges and new situations daily. Tell me about the salary range you’re seeking.I am sure that I am the candidate that you are looking for. If you feel the same, then I’m sure that your offer will be fair and commensurate with the value I can bring the company. (If pressed.) My recruitment consultant has also discussed salary ranges either with yourself or with the hiring team, and has requested that I leave these details with them. Would you say that you can easily deal with high-pressure situations?Yes. Throughout my University degree, I consistently maintained above a 3.8 GPA – which allowed me to graduate on the Dean’s List – worked 20 to 30 hours per week part-time as a waitress, was part of our University’s acapela team and volunteered at a local animal shelter. As I was constantly juggling many plates with many tasks to be completed and many people relying on me, I prioritised and dealt with each task based on its importance. I understand that this may be an extreme example not typically found in the financial consulting field; however it shows just how well I can deal with extreme pressure. What motivates you to put forth your greatest effort?You would think that because I’m interested in sales, only financial compensation would motivate me to achieve. Although monetary rewards are important to me, I am driven to succeed internally. More than anything, I want to be respected by my friends and coworkers for being the best at what I do. Whether I am considered to be the best car detailer in my hometown or the best columnist for my local newspaper – I want to be recognised as the best.Stay tuned for Part 3 of this series, where we will look into Goals & aspirations, What success means to you, and Understanding your weaknesses. A blog filled with really great tips and tricks that will benefit you for smashing your next interview!
Read More