Billionaire CEO Todd Graves Identifies Job-Hopping as a Major Red Flag in Hiring

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Todd Graves, the billionaire CEO and co-founder of Raising Cane’s Chicken Fingers, has pinpointed a significant concern when evaluating potential hires: the prevalence of job-hopping. With over 800 locations across the U.S. and in the Middle East, Graves, 52, emphasizes that frequent job changes—typically every two to three years—raise red flags on a resume.

Job-Hopping: A Quest for Titles?

Graves expresses skepticism towards candidates who frequently change jobs, questioning their commitment to the organization. “Are you in it just for you?” he asks, highlighting the potential for candidates to appear as if they are solely on a “quest for titles.” This mentality can manifest in interview responses that feel rehearsed or inauthentic, leading to inconsistencies that Graves actively seeks to identify during the hiring process.

“When they’re more into title and control versus teamwork, it’s a huge red flag for me,” he states, underlining the importance of teamwork and genuine engagement over individual ambition.

The Importance of Passion and Motivation

In interviews, Graves prioritizes assessing a candidate’s passion for the brand. He looks for individuals who exhibit intrinsic motivation and a commitment to their colleagues and the organization as a whole. He has observed a “huge correlation to success” among employees who care about their team and the company, from cashiers to fry cooks. This mindset is crucial to fostering a cohesive work environment that thrives on collaboration.

Changing Perspectives on Job-Hopping

Despite Graves’ concerns, job-hopping has become increasingly common, particularly in recent years amid a tight labor market. Some career experts argue that the stigma against changing jobs frequently is outdated, provided the resume does not indicate a pattern of excessive short stints. However, more than a third of hiring managers surveyed by LinkedIn have expressed hesitation towards candidates with such job histories.

Drew McCaskill, a LinkedIn career expert, notes that hiring managers may worry about candidates who have previously held positions for only brief periods. They might think, “If you were only there for nine months, maybe you’ll only be here for nine months,” which can affect their hiring decisions.

Effectively Explaining Job Changes

For candidates with job-hopping histories, experts recommend careful communication during interviews. They advise against bringing up current or former roles unless prompted. Instead, candidates can utilize the summary section of their resume or the “About” section of their LinkedIn profile to clarify their career trajectory.

If asked about past job changes, candidates should be prepared to provide a concise explanation focused on their future goals and the value they can bring to the new role. Emphasizing the skills gained from previous experiences without apologizing for past decisions can help mitigate any concerns hiring managers may have.

In summary, as the job market evolves, both candidates and hiring managers must navigate the implications of job-hopping while maintaining open lines of communication regarding career motivations and goals.

 

‘Slow Shopping’ Strategy: A Savvy Way to Save Money This Holiday Season

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As the holiday shopping season approaches, consumers are increasingly turning to a strategy known as “slow shopping” to combat impulse spending and make more deliberate purchasing decisions. According to consumer savings expert Andrea Woroch, this approach emphasizes taking the time to carefully consider each purchase rather than succumbing to the temptation of instant gratification.

The Benefits of Slow Shopping

Woroch notes that slow shopping enables shoppers to move beyond initial emotional reactions and reassess their needs or desires without the pressure of missing out on deals. “This thoughtful approach can help you avoid impulse purchases,” she says. By allowing time to reflect, consumers can make better-informed decisions and often find ways to wait for items to go on sale, optimizing their savings.

Using price-tracking tools, such as the browser extensions CamelCamelCamel or Keepa, can aid shoppers in monitoring price fluctuations and notifying them when an item’s price drops, further supporting the slow shopping mindset. Additionally, this approach provides consumers with the opportunity to save for larger purchases.

Rising Popularity of Slow Shopping

The trend is gaining traction, with a recent survey by Affirm revealing that 73% of shoppers are adopting slow shopping techniques this holiday season. Approximately 60% reported starting their shopping earlier, taking care to be mindful of their purchases. Many shoppers are leveraging slow shopping to take advantage of more deals and promotions.

Vishal Kapoor, senior vice president of product at Affirm, highlights that this year’s trend is distinct, as consumers not only begin their shopping earlier but also approach it with more thoughtfulness.

Economic Context and Spending Trends

With U.S. credit card debt reaching $1.14 trillion, the stakes for responsible spending are high this holiday season. The National Retail Federation predicts that spending between November 1 and December 31 will rise to between $979.5 billion and $989 billion. Deloitte’s holiday retail survey estimates that average spending per shopper will increase by 8%, reaching $1,778.

However, a concerning 28% of consumers who used credit cards last year have yet to pay off their holiday purchases. This underscores the need for a careful approach to avoid falling into debt. Rod Griffin, senior director of consumer education and advocacy for Experian, points out that the allure of sales can lead to overspending, with over half of adults admitting to making at least one impulse purchase last holiday season.

Strategies for Effective Holiday Spending

To manage holiday expenses effectively, Griffin recommends creating a detailed shopping list to guide spending and resist the allure of unplanned purchases. Establishing a holiday fund can also ease financial pressure. “Having set money aside allows for more flexible spending without the risk of accruing expensive credit card debt,” says Ted Rossman, senior industry analyst at Bankrate.

Experts emphasize the importance of starting holiday shopping early. With Black Friday and Cyber Monday occurring later in the calendar this year, a shorter holiday season may prompt retailers to offer more promotions throughout November. Adam Davis, managing director at Wells Fargo Retail Finance, suggests consumers sign up for store newsletters and mobile alerts for access to early deals and discounts, as well as potential free shipping options.

By embracing slow shopping and employing strategic budgeting techniques, consumers can navigate the holiday season more mindfully and potentially save significantly in the process.

Treasury Department Sets New Series I Bond Rate at 3.11% for Next Six Months

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The U.S. Department of the Treasury has introduced a new annual interest rate of 3.11% for Series I bonds, effective November 1, 2024, through April 30, 2025. This rate marks a decrease from the previous 4.28% yield in place since May and significantly down from the 5.27% rate set a year earlier in November 2023.

The new composite rate of 3.11% consists of a 1.90% variable portion and a fixed portion of 1.20%, slightly reduced from May’s fixed rate of 1.30%. Although the I bond yield has fallen considerably since its peak of 9.62% in May 2022, the fixed-rate component remains attractive for long-term investors, according to financial experts.

Understanding I Bond Rate Structure

Series I bonds offer a composite rate that combines a variable rate, which adjusts based on inflation, and a fixed rate, which remains constant for the bond’s life. The Treasury Department revises both parts biannually, every May and November. Current I bond holders experience the new rates after a six-month adjustment period based on their initial purchase date. For instance, I bonds purchased in September 2024 would start at a 2.96% variable rate, adjusting to the new 1.90% rate in March 2025, while the fixed rate of 1.30% would stay constant, making the composite rate 3.2%.

This structure provides investors with some inflation protection while offering a predictable fixed return for long-term holdings, despite recent reductions in the composite yield.