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Check Your Credit Report BEFORE A Job Search

That’s right, before you begin searching for a new job, check your credit report to make sure there are no errors and to address any problems.

Why? More and more employers are using credit checks as part of their hiring process, in hopes that they might avoid hiring people who might commit fraud or perform poorly.

One person I know had co-signed a loan for someone. After eight uneventful years of on-time payments, the borrower lost his job and defaulted on the loan (never thinking to tell the person who co-signed for the loan).

The timing was terrible because, unbeknownst to the co-signer, the loan default appeared first on his credit report while he began interviewing for a fantastic new job that would have nearly doubled his annual income.

The offer came after six weeks and several grueling rounds of interviews. Everyone was thrilled to shake hands and agree on a start date.

You know where this is going: the credit check, which was supposed to be a formality, ended up killing the deal: the job offer was rescinded and the opportunity was gone.

According to the U.S. Federal Trade Commission (FTC), you’re entitled to one free copy of your credit report every 12 months from each of the three nationwide credit reporting companies.

To get your free credit report, visit this page on the FTC website: https://www.ftc.gov/faq/consumer-protection/get-my-free-credit-report

Federal trade Commission (FTC)

Beware: There are lots of sites that will try to sell you your credit report, or sell you a credit monitoring or credit repair service. Avoid them by using the link above to the FTC website, and follow the link on their page to get your free report.

If you find errors on your report, take immediate action and make sure to confirm the errors have actually been corrected (many of them aren’t, even after being reported).

How To Dispute Credit Report Errors

Learn how to dispute via the FTC’s “Disputing Errors on Credit Reports” article (scroll down to the “Correcting Errors” section). Be very clear in your explanations, provide copies of all your documentation, respond quickly and fully to all requests for information and documentation, and make sure to keep following-up until the issues are resolved.

How to Deal With Legitimate Credit Problems

While not all employers conduct credit checks as part of their hiring process, you’ll want to know your rights and obligations for dealing with debt and credit problems.

A good place to start is the FTC article “Credit Repair: How to Help Yourself.”

Beware of Credit Repair Scams

The FTC emphasizes that there is “no quick fix for creditworthiness. You can improve your credit report legitimately, but it takes time, a conscious effort, and sticking to a personal debt repayment plan.”

Learn more in their “Credit Repair Scams” article.

This post first appeared on the Enlightened Jobs blog.

Deepak Malhotra’s Rules for Negotiating a Job Offer

The list below is shamelessly stolen from a terrific HBR article, which is filled with insight and detail (definitely worth reading).

  1. Don’t underestimate the importance of likability.
  2. Help them understand why you deserve what you’re requesting.
  3. Make it clear they can get you.
  4. Understand the person across the table.
  5. Understand their constraints.
  6. Be prepared for tough questions.
  7. Focus on the questioner’s intent, not on the question.
  8. Consider the whole deal.
  9. Negotiate multiple issues simultaneously, not serially.
  10. Don’t negotiate just to negotiate.
  11. Think through the timing of offers.
  12. Avoid, ignore, or downplay ultimatums of any kind.
  13. Remember, they’re not out to get you.
  14. Stay at the table.
  15. Maintain a sense of perspective.

Here’s a video discussing these ideas in more detail:

Click here to read all the detail and insight in the HBR article.

Here’s What a Small Team Working Together Can Do

The six tiny micro-robots in this video are pulling a car weighing 3,900 pounds, which is the “functional equivalent of a team of six humans moving a weight equivalent to that of an Eiffel Tower and three Statues of Liberty.” *

It’s a great metaphor for what’s possible when a small team works together, as a team, on the right things:


*Based on research published in Robotics and Automation Letters and to be presented at ICRA 2016 found here.

Thanks to John Markoff for his “Modeled After Ants, Teams of Tiny Robots Can Move 2-Ton Car” in The New York Times.

Cover Letter Magic to Land An Interview

Denise Renee and Neville Medhora give and keep giving in their “How To Write a Good Cover Letter for a Job” blog post.

Below is their example of an effective cover letter, using what they call the AIDA formula:

A – Grab their Attention
I – Spark their Interest
D – Create Desire
A – Invite them to take Action

cover letter example from Kopywriting Course

Like what you see? Then go read Denise and Neville’s entire “How To Write a Good Cover Letter for a Job” post and learn all the juicy details and their terrific insights.

Fortune Magazine’s Geoff Colvin: Every Company’s Most Important Asset

TAKEAWAY POINT IN ONE SENTENCE:

It doesn’t matter what kind of business a company is in, human capital really is the most important asset. ~Geoff Colvin

Geoff Colvin, knows a bit about the world of business.

He’s Fortune Magazine’s Senior Editor-at-large and the author of newly-published book, “Humans Are Underrated:What High Achievers Know That Brilliant Machines Never Will.”

Humans are Underrated book cover image

Geoff Colvin’s “Humans are Underrated”

 

(The fallen robot in the book cover image above speaks volumes)

In the video below, Colvin relates how energy company Exxon-Mobil is constrained by the lack of people who are capable of doing what the company needs to get done in order for projects to move forward. People are the scarce resource.

People sometimes think that human capital is the most valuable asset in service companies or technology companies, companies that don’t have a lot of physical assets. And that’s certainly true, but the really important point to understand is that today, human capital is the most important asset in every kind of company, no matter what industry it’s in.

 

Interested in more of Geoff Colvin’s insight?

Here’s a link to his recent writing at Fortune Magazine: http://search-app.fortune.com/?q=Geoff+Colvin

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© 2016, Cole House LLC. This is the blog for EnlightenedJobs.com