There are three dynamics currently affecting the marketplace:
- Retirements are up. The number of people leaving the marketplace is high due to Covid-19, the downsizing of companies and the shift of skills needed/not needed
- Immigration is down. The movement of populations from one country to the next is constrained due to the pandemic and the securing of borders
- The shift of jobs from an office environment to remote work has made for different opportunities and put some experiences at a premium, while others at a disadvantage
You need to understand where you stand experientially within your industry and function, plus what you need to do to stay highly competitive for the future.
Whenever there is a rotation of needed skills and experiences, whether they be through automation, technology or exogenous factors, the impact on the working population is dramatic. Some employees have stayed in a job too long without advanced training, while others have lost their competitive advantage by falling behind in thier technology or functional competencies. Still others may have remained complacent, while the world around them has moved to the next level of expectations or standard of performance.
As the well-worn verse goes, “There is a time for everything, and a season for every activity…”. Different occupations and job functions have a time and place when they are in demand and other times when they are in decline. Today, some occupations are in short supply, where good workers are very hard to find. The employment /unemployment rates nationally are of little value. Your particular function could be at an unemployment rate of 1%, while another function could be at 15% or more.
The questions that you need to understand and answer:
- What’s happening in the marketplace within your industry and function?
- How competitive are you if you remain in your current position?
- What’s the supply/demand equation for you, specifically?
- Are you highly competitive through your experiences and results for you to move to the next higher level?
- What skills or experiences are you missing in order to move up the functional ladder?
- How can you best get those skills/experiences? Courses? Certifications? A mentor or coach? Self-taught programs? Hire a tutor?
- How do you best “test the job market” to find out your marketability?
- How do you increase the number of your contacts in order to expand your network when it’s time to begin your search?
- How do you create a dynamic and compelling resume made up of your experiences and results? (A compelling resume is one where a hiring manager reads your resume and says, “This is someone who has what I need and must be interviewed!”)
Testing the marketplace will give you the information and direction you need in order to assess your competitiveness, readiness, and a road map for success. Even if you decide not to make a professional move at this time, you will know where you stand and what you need to do to remain highly marketable.
For a FREE critique of your resume, send to: firstname.lastname@example.org