The Economic Crisis is Not a Job Search Crisis

Seven Positive Trends We're Seeing Now

1.    Top talent always lands; that has not changed. Where you land has.

Recently New York's CBS radio hosted a networking breakfast and reported on the business buzz. They found that the business-leader participants spoke briefly about challenges stemming from the meltdown, but then quickly segued into animated discussions about their new ability to capture top-talent. We're seeing that companies that could not afford you or pirate you away are now vying for you. They are even ready to ante-up salary-wise so they can get you on board.

2.    Career transitions are less difficult.

Companies (especially those in distress) are finally looking for "square peg/round hole" "career transition" talent. They realize they are in an environment that they have never faced before and those "in the know" may not know what's needed. Fresh ideas become very appealing, even critical. Some companies are requesting that recruiters deliver a slate of traditional and non-traditional candidates. If you have a strong value proposition that is "portable" and can cross industries, it's possible you've never had a better time to move.

3.    "Seasoning" helps.

We've just experienced the worst week of market losses, ever. Those who have successfully navigated companies through multiple US and global recessions and recoveries will be valued for the knowledge that experience provides. A recent MBA, emerging professional, finance whiz kid, or mid-career executive -- no matter how good -- cannot offer that "street cred." A touch of silver in your hair is not an issue when a company is looking for salvation.

4.    On-line means on-radar.

Recruiters looking for a top candidate with a special slate of requirements are working harder to find that person within the flood of executives available today. We're hearing that they are using Google, LinkedIn and other on-line social networking tools more than ever to narrow the field to a manageable slate of potential candidates. If you have been diligent about using LinkedIn, Twitter, and other on-line ID tools to raise your visibility and build your brand, your chances of rising to the top are even better now -- especially since many of your colleagues have not done so. Hint: If you've not been focused on building on-line identity, get busy ASAP!

5.    Green is gold.

The economic crisis has affected the financial sector in a big way, yet there are growing opportunities within the green, sustainable, and alternative/clean energy fields.  The global climate and energy crises are not going away anytime soon, the voting public is demanding change from both parties, and growth will be strong moving forward. That means new jobs, better jobs, and good salaries -- in public and private enterprise and in education, too (that new workforce has to be trained).

6.    Contraction is expansion.

When an industry contracts another industry often benefits. Here are just two examples. People are not buying cars, especially gas guzzlers. The auto industry is hurting. Auto mechanics, tire companies, and replacement part manufacturers will fill the void as people keep their vehicles longer and require maintenance to keep them on the road. Suppliers to the building industry are hurting, but if they have retooled their offerings to appeal to home repair and renovation, they have a growing market as people stay longer in their homes waiting for an up-tick in home prices or move into newly less-expensive homes they want to update.

7.    Active, passive? Who cares?

Historically, retained recruiters sought "passive" currently-employed executives to persuade away from their positions and get on board with their client company. Companies and recruiters shied away from "active" (meaning unemployed or "looking") executives. Now with so much talent on the street they can no longer limit themselves to passive candidates. If you have a strong value proposition and clear record of ROI contribution, "active" is no longer a dirty word. 

Helpful resources.

Executive job outlook:
http://online.wsj.com/article/SB122107646884520479.html

Career transition advice:
http://online.wsj.com/article/SB122213453826766057.html
http://www.careerhubblog.com/main/2008/10/15-ways.html

Job search for Wall Street pros:
http://online.wsj.com/article/SB122168055696748857.html

Industry and employment trends by region:
www.jobbait.com

LinkedIn for senior executive job search:
http://www.executivepowerbrand.com/2008/06/linkedin-recomm.html

Twitter for senior executive job search:
http://www.job-hunt.org/executive-job-search/twitter-job-search.shtml

A call to action!

If you are a job seeker, employer, or recruiter what positive changes in job search are YOU seeing now? Or are you seeing trouble ahead?

Whatever your experience, in this uncharted territory, we need all ears to the ground. Every experience shared is an experience that can help. So leave a comment, please.

Comments

[Barbara Safani]

Deb,

This is great information! I love point #4 about the importance of creating and maintaining a strong online presence. Over on Dan Schawbel's Personal Branding Blog there is a great post about how one job seeker found a job using Twitter. You can read it at http://tinyurl.com/4fv8nx.

[Sital Ruparelia]

Great post Deb

3 Trends I am seeing:

1. Mid-sized firms are hiring
Mid-sized firms who are nimble in adjusting to the changing needs of the market are the ones succeeding - and the ones hiring. They see this period as a golden opportunity to attract talent from larger firms. So it’s important to be open minded about opportunities and widen the net in your search to firm you may not have considered in the past.

2. Much more recruitment online
- All corporate recruiters are under pressure to reduce the cost of recruitment - so in some cases using fee charging recruiters and head hunters is becoming the last resort for certain roles. Direct sourcing via online tools such as LinkedIn have become the first place they now go when they have a vacancy. So if you haven’t a strong online presence, you’re missing a lot of opportunities

3. Employee referral programmes on the rise
- As per the above point, firms are cutting the cost of recruitment – and so more aggressive in marketing employee referral programmes internally to recruit via the employee referrals. So consistently networking (online and offline) with ex-colleagues, ex-business associates, friends and family is critical.

[Barbara Safani]

Oops! Try this link to read about Twitter for your job search: http://personalbrandingblog.wordpress.com/2008/09/18/success-story-one-tweet-changes-one-personal-brands-life/

[Deb Dib]

Barbara & Sital, thanks for the feedback -- this is terrific market intelligence and surely needed by job seekers right now!

Deb

[Cheryl]

Great advice Deb!

Also, there are many blessing-in-disguises that might result from preparing to compete in a challenging job market? For one, it will help to shift your thinking about work. When the job market and the economy are booming, many people don’t think about where they fit in the organization or how they can add value. They look at their work as a series of tasks, rather than results.

[Deb Dib]

Cheryl, that's a great point! Thanks for bringing it up!

Deb

[Resume Service]

Hi Deb Dib:

Excellent resource list, especially:

Job search for Wall Street pros:
http://online.wsj.com/article/SB122168055696748857.html

WSJ has an excellent marketplace with top job listings as well as outstanding articles and features.

Good pick!

Resume to Referral
Resume and Career Services
http://www.resumebycprw.com

[Resume Service]

Deb,

This is in response to #5 "Green is Gold." If you want to search for jobs in the renewable energy sector try this website: http://www.renewableenergyworld.com/rea/careers/jobseekers

Resume to Referral
Resume and Career Services
http://www.resumebycprw.com