The document discusses strategies for finding a job during difficult economic times. It notes opportunities through the Paycheck Protection Program and discusses what businesses are most worried about currently. Statistics show that those with managerial experience have high reemployment rates and companies are willing to pay more for experienced workers. The document recommends networking to increase job prospects, noting that quality connections are more important than the number of connections. Maintaining a diverse network across industries is also advised to take advantage of different opportunities. Creating positive impressions in meetings and leveraging friends and family for support can further help job searches.

1. George Benaroya
Facts about creating good luck, to find a job

2. ▪ The Paycheck Protection Program
▪ Solving what business is most worried
about
1. Two opportunities that worked
2. What worries us most about
finding a job?
▪ What worries us most?
▪ Reemployment statistics
▪ How much do companies pay for
experience
3. Creating good luck through
Networking
▪ How to quadruple our chances
▪ The role of Friends & Family
▪ Creating good luck at meetings
▪ The 6 degrees of separation
▪ Diversity is key to grow a network
Agenda
2
Introduction

3. 3Facts about creating good luck, to find a job
▪ Career at Procter & Gamble, Tetra Pak, Nivea and
now Private Equity as Vice President Finance, Global
Controller & CFO.
▪Half of career at Headquarters and ½ running local
operations ($20 Mio to $ 2 Billion) in Asia, Europe, Latin
America and the US.
▪ Visited clients, consumers and factories in over 190 countries to
enable profitable growth, powered by Finance
▪Professor at NYU and Global Program, University of Salamanca
▪Contact: George@benaroya.org
https://www.linkedin.com/in/georgebenaroyacfo/
About me. George Benaroya

4. George Benaroya4Facts about creating good luck, to find a job
The Paycheck Protection Program (PPP) opportunity
▪ Companies participating in PPP can recover up to 92% of
payroll cost by hiring back furloughed employees or hiring
new ones
▪ PPP was originally set for 8 weeks. Employees can earn up
to $8,333 per month at each company they work
▪ Companies are having trouble hiring workers back. The
two main reasons are:
▪ unemployment pays more
▪ employees are worried about returning to work
▪ Companies are better off hiring people who can add value
▪ We have hired Janitorial staff, MBAs and Executive Vice
Presidents.

5. George Benaroya5Facts about creating good luck, to find a job
What business is most worried about
1. Profitability. Operating at 33% capacity
2. Consumers afraid to shop. Marketing
investment has been frozen
3. How many employees are needed.
Unemployment. Training. Laying off and hiring
back.
4. Covid regulations. Complex, costly, constantly
changing regulations
13%
15%
33%
40%
Covid new regulations
How many employees are
needed
Consumers afraid to shop
Profitability. Operating cost
June Survey. Responses from 7 industries
RM colleagues hired

6. ▪ The Paycheck Protection Program
▪ Solving what business is most worried
about
1. Two opportunities that worked
2. What worries us most about
finding a job?
▪ What worries us most?
▪ Reemployment statistics
▪ How much do companies pay for
experience
3. Creating good luck through
Networking
▪ How to quadruple our chances
▪ The role of Friends & Family
▪ Creating good luck at meetings
▪ The 6 degrees of separation
▪ Diversity is key to grow a network
Agenda
6
Introduction

7. George Benaroya7Facts about creating good luck, to find a job
What worries you most about finding a job?
1. Few Senior jobs are available
2. Pay. Having to take a pay cut
3. My skills are outdated
4. Companies prefer younger people
5. Network. I don't know many people who
can help me find a job
Responses to this poll are anonymous

8. George Benaroya8Facts about creating good luck, to find a job
Our group has the best chances to get reemployed
Result from 4 groups:
Everyone in the US
1. 3,337-representative
sample from the CPS1
Manager-Executives
2. 1,880 participants2
3. 517 participants3
CEO level
4. All CEOs dismissed over 10
years in publicly traded firms4
Reemployment
Over 95% were reemployed in Groups 2 & 3
The ratio was lower for Groups 1 and 4
Pay
For Group 1, new jobs paid 12% more
For Group 3, 38% got a job paying more
Age
Older individuals had an advantage in Groups 3 & 4
Seniority
Those in Groups 2 & 3 were more likely to keep it
1,2,3,4: Links to source are on the last slide

9. George Benaroya9
120 companies quantified the value of experience
Value of Experience

10. George Benaroya10
21%
36%
21%
34%
28%
+30%
< 30
Million
30-99
Million
100-999
Million
1-10
Billion
> 10
Billion
Revenue
“How much more are you willing to pay for experience”?
Response to a global survey of 120 firms
Value of Experience

11. George Benaroya11
0
20
40
60
80
Consumer Discretionary
Consumer Staples
Financials
Health Care
Industrials
IT Telecom
76
77
55
51
56
30
38
31
35
41
35
39
Salary (% premium) Experiece (months)
Companies will pay a CFOs with 12 years
of experience ~40% more
Some industries pay 40% more for experience
Value of Experience

12. ▪ The Paycheck Protection Program
▪ Solving what business is most worried
about
1. Two opportunities that worked
2. What worries us most about
finding a job?
▪ What worries us most?
▪ Reemployment statistics
▪ How much do companies pay for
experience
3. Creating good luck through
Networking
▪ How to quadruple our chances
▪ The role of Friends & Family
▪ Creating good luck at meetings
▪ The 6 degrees of separation
▪ Diversity is key to grow a network
Agenda
12
Introduction

13. George Benaroya13Facts about creating good luck, to find a job
Increasing the odds of finding a job
Candidates find jobs through:
1. Search engines
2. Networking
3. Headhunters
Simple actions can
increase our odds
Christoph Lueneburger
Charimam, Egon Zhender
Resilience: “planning for the
future, building stable social
relationships, developing
empathy for others, and a
sense of humor”

14. George Benaroya14Facts about creating good luck, to find a job
Does support from Friends & Family help?
Social Support Questionnaire
On a scale of 1-5 how would you respond:
Friends Support
1 There is a special person who is around when I am in need.
2 There is a special person with whom I can share joys and sorrows.
5 I have a special person who is a real source of comfort to me.
10 There is a special person in my life who cares about my feelings.
Significant Other Support
6 My friends really try to help me.
7 I can count on my friends when things go wrong.
9 I have friends with whom I can share my joys and sorrows.
12 I can talk about my problems with my friends.
Family Support
3 My family really tries to help me.
4 I get the emotional help & support I need from my family.
8 I can talk about my problems with my family.
11 My family is willing to help me make decisions.
✓ Positive support
helps
❑ Negative support
can cause
significant
damage

15. George Benaroya15Facts about creating good luck, to find a job
Quadruple the chances of getting rehired
Research5 shows that
“High networking quality respondents
were 378% more likely to be reemployed
within 3 months”
“Networking intensity was not significantly
related to reemployment”

16. George Benaroya16Facts about creating good luck, to find a job
How to create good luck, when meeting people
On most graduate panels, someone shared how
serendipity played a role in finding a job.
Ways to foster serendipity:
1. What do you do? What’s your story? Add at least
for 4 “hooks” to respond to those questions.
2. When you meet someone, think about how you can
contribute to their life and to whom you could
introduce them to
3. Ask people to introduce themselves not with their job
title but with things such as “What are you currently
most excited about?”
Article

17. George Benaroya17Facts about creating good luck, to find a job
“What are you currently most excited about?”
Please go into the breaking room you have been
assigned to and respond to this question.
We will let you know the total number of minutes for the
whole group.
In the interest of time, we will not share the discussion
with the entire group at this time.

18. Finance for Marketing Decisions
G Benaroya Lecture
18 George Benaroya
The 6 degrees of separation
Level 1
261,000 >1,000,0002,900
Level 2
Level 3 Level 4
Six degrees of separation is the idea that all people are six, or fewer, social
connections away from each other. As a result, a chain of "a friend of a friend"
statements can be made to connect any two people in a maximum of six steps.
Greater New York city
Linkedin contacts

19. Finance for Marketing Decisions
G Benaroya Lecture
19 George Benaroya
Diversity is key to grow a network
23
26
37
83
100
200
230
300
300
300
400
500
600
900
900
IMPORT & EXPORT
GOVERNMENT
INDUSTRIAL AUTOMATION
APPAREL & FASHION
AIRLINES & AVIATION
EDUCATION
ACCOUNTING
MARKETING & ADVERTISING
PACKAGING & CONTAINERS
STAFFING & RECRUITING
FOOD AND BEVERAGE
MANAGEMENT CONSULTING
INFORMATION TECHNOLOGY
CONSUMER GOODS
FINANCIAL SERVICES
Contacts by industry

20. Finance for Marketing Decisions
G Benaroya Lecture
20 George Benaroya
12K->2M->100M
Level 1 Level 2 Level 3
Over 100 million Level 3 contacts. Through diversity

21. George Benaroya21Facts about creating good luck, to find a job
Conclusions and discussion
1. Businesses needs our expertise to tackle the current crisis.
2. We have a better chance than most to be reemployed. Companies will pay for experience.
3. “Quality” networking works best.

22. George Benaroya22Facts about creating good luck, to find a job
Sources
1. “Age and reemployment success after job loss: An integrative model and meta-analysis”,
Wanberg, C.R.
2. “The impact of outplacement programs on reemployment criteria: a longitudinal study of
displaced managers and executives”, Westaby, James D.
3. “What Ever Happened to Laid-Off Executives? A Study of Reemployment Challenges After
Downsizing”, Slocum Jr.
4. “How stigmatized are dismissed chief executives?”, Donald J. Schepker
5. “Reemployment crafting: Proactively shaping one’s job search”, Hulshof, I. L