Money magazine (December 2015 issue) had a series of interesting articles about the job search process and what others are doing to succeed in the marketplace. Here are my comments:
Your greatest chance to find a job is from company’s you might have left months or years before. Assuming you left under favorable conditions and maintained positive relationships, there is a 15% return of past employees. Why? There are new openings, expansion plans or accelerated growth. You are already trained and have a track record. Make sure they’re not in a downturn, looking for replacements who have bailed-out of a bad situation.
The average number of days (or weeks, months or years) to find a job? Depends upon:
The function – Hospitality roles may take 36 days, retail takes 40 days, health care, 65 days
The level of the position-The higher the position the longer it takes: VP’s? 6 months or more
The pay of the position – The lower the pay the shorter the time and higher the turn-over
The supply/demand equation – Software developers are in demand; news reporters are not
While the unemployment rate is “only” 5%, those that continue to be unemployed but out of the statistics is much, much higher. Jobs are still at a premium but are opening up.
Many employers are hiring part-timers instead of one full-time employee, or hiring contractors on a project basis without benefits (benefits costs may be up to 40% of salary)
More employers are keeping salaries lower but adding incentives at a higher rate to keep recurring salaries down. Incentives have gone from 7.5% of payroll to almost 13% today.
So what should you do, given this information? Here are some thoughts:
Contact a helping friend in your old company. Ask if they can help you connect again: Where are the openings, the greatest demand, fit, and who do they know to whom they can refer you?
Be open to contractor, part-time, or project jobs. Becoming a full-time permanent employee is greatest when you can demonstrate performance and results.
Focus on measurable results. Saying you’re expert in developing new business is lame. Say, “I increased new business by 12.5% through new product introduction within 18 months”.
Lay out a 60 to 120 day strategy.
Temper your expectations with the marketplace reality. You may not be able to secure a position that is equal to title or compensation of the past. Gauge your potential longer term.
Consider a position just outside of your “sweet spot”. Your comfort zone may be too narrow.
Only you can decide how long to wait for the ideal job. My experience tells me that the perfect job only comes when you go through a job that ultimately gets you there.
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Help a colleague to find a new job? Refer them to me at: Mygreenerfuture1@gmail.com