Care Leading to Collaboration – Continued

“As soon as you set a commitment all the obstacles standing in the way of achieving your goal suddenly become apparent.” These are the words of a mentor that my last post brought to mind. Basically you don’t notice difficulties associated with an endeavor until your commitments bring them to light. Nicotine fits are not a problem for a smoker who has no intention of quitting.

So, after my last blog post when we posted the questions, “What can Wall Street Services be doing to further advance your career?” and “How can we help you to increase job satisfaction?” we received a myriad of responses, some of which were difficult to hear. In reading your feedback I have realized that we at Wall Street Services need to clean up some mistakes and make some significant improvements in order fully express our core value of “Care.” There are things we need to improve, do more of and in some cases, start doing entirely.

First of all, many of you are hurting out there and my heart goes out to you. Many of you are frustrated by our inability to find you a job, which is completely understandable. One of the unfortunate realities that I have to deal with is that the needs of the client companies we work with have changed dramatically, as have their expectations of the candidates they accept. Our clients are looking for more specialized professionals and because of the poor labor market they are only looking at candidates who have a steady job history. Although the irony of a contract and consulting staffing agency not being able to place people with consultant or contracting experience is not lost on me, I cannot make my clients choose who they hire. As I discussed the results of the survey in our last staff meeting, what was clear is that we need to do a much better job at managing expectations and letting you know if we will not be able to place you. You can count on us to do so.

Others chided us for not being as responsive to your phone calls or being in touch more frequently with feedback on the status of jobs to which you have been submitted. I hear you and we will do a better job in this area. Count on us to follow up on jobs we send you out on and take more time to make sure calls are returned in a timely manner. I hope that you also understand that we are at the mercy of our clients with respect to what jobs we offer and the amount of feedback we can give. Many of you asked for feedback as to why you did not move forward on jobs we sent you on. Unfortunately, my clients do not provide us with this information. However, I am working with them to get more information on the candidates they do hire and why. I am more likely to hear back from our clients on this, and I can use that feedback to keep you informed during the interview process.

Others have asked for more support, knowledge and training on resume writing, interviewing and converting consulting opportunities into full time hires. This is something we already do and clearly we need to make it more available. We give resume writing coaching to those applicants who register and need assistance revising their resumes. For those of you who have registered and did not receive this coaching, let us know if you would like support in this. Please note that we might not get to all of you at once. My next blog post will be on resume writing and I will spell out some basic steps that can be taken to make a resume more noticeable. We also provide in-depth interview coaching before we send a candidate on an interview. I have written about this extensively and will continue to do so. We will also explore opportunities to have webinars and other training on the subject. This is also true for converting temporary jobs into permanent ones – I wrote this blog post about the topic. Recently we started providing this coaching directly to our consultants after they started working on assignments. If this is something you missed, please let me know.

As far as more opportunities and better pay – this is something that I can use your help on. Wall Street Services cannot manufacture jobs. We only pass on the positions we get from our corporate clients. What is more, the majority of our jobs come from large bulge bracket investment banks who view staffing as a commodity, pitting several services against each other for each job. That means not only do I get limited information on the positions we get, our success rate is lower and we get little feedback.

There is something you can do to help in this matter. We need new clients, ideally mid-market financial institutions who have 5 to 20 consultants working at any given time. Clients of that size are more likely to create partnerships with us and provide more information on positions as well as feedback on the candidates we send. I ask you to tap into your network to find out what mid-size financial institutions are using consultants and let me know who they are.

I am grateful for the work you do and the feedback you have given.


Peter Laughter
Wall Street Services

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