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#JobSearch : The COVID Effect on the Job Market. A MUst REad for All!

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As I write this blog article, the United States economy just moved past the 80th calendar day since the international pandemic (Corona-Virus 19) in which the quarantine sent everyone scurrying behind locked doors and face masks.  Companies who relied mostly on technology were mostly insulated from business losses during the quarantine.  Other companies moved to ‘curb-side’ service, online meetings (using Zoom, Adobe, and Google meeting cloud platforms).

Some businesses (online shopping, health care, e-commerce) were able to still perform ‘as usual’ – especially if already providing services and products ‘virtually’ (employees moved from offices to homes to work via telecom technology.  Those companies most impacted, e.g., non-essential retail, restaurants, hotels, travel, and entertainment are still struggling and many are facing bankruptcy.

What does this mean for workers or those looking for new jobs and careers?

1- Job seekers will have more competition for the job they would normally have been a ‘shoo-in’ pre-pandemic; in this economy, it’s now an employer’s market for hiring. Expect to be rejected more often as an applicant.  The company may have a hiring freeze or slow-down, but there also may be jobs not advertised.  Keep on posting your resume into the ATS on the recruiting system for the company(ies) you are targeting.

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What Skill Sets Do You have to be ‘Sharpened’ ?

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2- Sharpen or add technology skills on the career resume for the job search. If you have the skill sets that enable to you to work from any location – job site, in the field, or from home, this will showcase your adaptability.  Have you worked from home during the quarantine? Are you able to adjust to a personal work schedule and reliability? Mention that in your resume to showcase capabilities.  Jobs ‘on-site’ in the past may be virtual go forward.

3- Job seekers need to update and ensure their computer has with telecom capabilities – camera, speakers, and access to Internet for online meetings; and it’s important to realize the vital need for updating one’s resume and LinkedIn profile for recruiters to more easily find you online. Test your meeting software and equipment with friends and family member (virtual dinner party, anyone?).

4- Review the field or industry – you may need to move to new careers. Job seekers need to target industries for ‘core business industries’ e.g., advertising, tech, delivery companies [fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][packages, food], tax assistance, video communications, instruction and teaching platforms [e.g., universities, colleges, tutoring], essential businesses [pharmacies], healthcare services, and/or cleaning and sanitation [janitorial]. The companies to avoid targeting for job searches are those related to travel – hotels, airlines, sports, and automotive. My husband takes Viagra for a couple of years now. I always wondered if it could help me become better in bed, so I decided to take a pill. Well, I can’t say that I felt anything different, but the sensations during intercourse were definitely better. I suppose it was due to better lubrication, which, I suppose, was the result of my experiment.

5- Refresh your resume on the big boards (e.g., Monster, CareerBuilder, Indeed) – the older resumes float to the bottom of the resume pool; even if you add a dot or space, those ATS platforms categorize the resume as a ‘new’ (refreshed) resume.

6- Be prepared for ‘more’ online virtual meetings, interviews, and panel discussions (hiring committees) versus driving to the location for the meeting (this is good – saves gas, and you can wear a nice shirt and jacket over your pajama bottoms).

7- Be prepared to do more email and online networking – the face-to-face networking is ‘out’ with social distancing in place (likely for the next 6-18 months). Do continue to make phone calls to friend, peers, past co-workers and bosses to let them know you are available for work. Who do they know is looking to hire?

8- Recruiters won’t be able to rely on ‘body language’ in virtual interviews, so it’s important for job candidates to look sharp, act like they are paying attention during the online cloud meetings, and to ensure the dog or cat won’t interrupt the meeting. The interview candidate may have to project more to demonstrate a positive attitude and don’t forget to clean up the area behind your computer to look like a more professional work environment.

9- In the past, recruiters may have been able to make a job offer and have a candidate in the seat in two weeks. The pandemic has slowed the process down to ‘whenever it is safe to physically come to work.’ Expect delays in the hiring process – some college grads who were extended job offers aren’t able to work for their new employers until as late as July or August while the company struggles to determine health and safety protocols. There will be a slow-down in the decision-making.  Companies may take a while before business picks up again to justify the hire and bringing the candidate onboard with a start date.

10- Job seekers who have lost their jobs need to be aware the extended benefits from the Payroll Protection Act are for a small and finite period. If your employer laid you off and you refuse to come back to work – you will lose your unemployment benefits.  Even if you get paid more in the PPA, it is vital for you to get back to work so you have a job after the benefits run out.

11- Do not lose hope. If you have a ‘side’ job, you may need ramp up the sales and services to bridge the financial gap between the last job and the new post-Covid career move.

 

FSC Career Author: Ms.Dawn Boyer, Ph.D., is a FSC Career Coach & owner of D. Boyer Consulting – provides resume writing, editing, and publishing (print-on-demand) consulting. Reach her at: Dawn.Boyer@me.com or visit her website at www.dboyerconsulting.com.

 

FSC Career Blog |  June 12, 2020

 

Bio: Dawn D. Boyer, Ph.D., has been an entrepreneur and business owner for 20+ years, with a successful business and consulting firm (CEO) in Virginia Beach, Norfolk, and Richmond, VA.  Her background experience is 24+ years in the Human Resources field, of which 12+ years are within the Federal & Defense Contracting industry. She is the author of 812+ books on the topics of business, human resources research, career search practice, women and gender study, genealogy and family lineages, quotes for motivation and self-improvement, and Adult Coloring Books.  Her books can be found on Amazon.com under her author’s page for Dawn D. Boyer, Ph.D.[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

#CareerAdvice : #CareerChange – A New Study Concludes That It Literally Pays To Switch Jobs Right Now. A MUst REad!

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It literally pays to switch jobs. A new study, conducted by payroll giant ADP, reports that employees who accept a new job at another company receive more money than their former peers who remain. The higher premiums currently being offered indicate that the record-high level of employment and robust economy continues to grow. To attract top talent in this hot market, companies are starting to recognize that they need to pay a premium.

According to an analysis of the data by Bloomberg, the biggest beneficiaries are job hoppers in the information industry who realized 9.7% annual wage growth, construction workers with an 8.7% increase and professional and business services with an 8.3% premium. Those who stayed at their companies earned about a 4% increase in pay. On average, those who choose to switch jobs enjoyed compensation growth of 5.3%. The only large groups that suffered from falling wages—when changing jobs—were in the leisure and hospitality sectors. Small businesses are suffering, as they are not able to financially compete with salaries offered by their bigger adversaries in the war for talent.

Separately, data produced by The Federal Reserve Bank of Atlanta’s Wage Growth Tracker, which includes both the public and private sector, arrived at the same results as ADP. The study reveals that job switchers’ income jumped 4.5%, the second-best pace of the 10-year economic expansion.

Sources: Current Population Survey, Bureau of Labor Statistics and author's calculations

Sources: Current Population Survey, Bureau of Labor Statistics and author’s calculations

FEDERAL RESERVE BANK OF ATLANTA

Anecdotally, in my recruiting practice—placing professionals on Wall Street and in financial services over the last 20 years—I’ve seen firsthand increases of 10% to 20% on average for people who’ve switched jobs. The spread is due to the hotness or coldness of the market at a particular time period, supply and demand imbalance of candidates and other factors. With these large margins, it was highly attractive for people to jump ship.

 

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What Skill Sets do You have to be ‘Sharpened’ ?

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Many moved a number of times. Let’s say there was a person earning $100k and then received a $120k offer. A year later, she could embark upon another job search and request around $150k. Meanwhile, those who stayed put had what we recruiters refer to as the “loyalty discount.” The woman who maybe five years later—after several moves—earns over $150k (plus bonus), whereas her former peers earned about an average 3% in yearly raises, which places them at about $115k.

Forward-thinking companies, such as Amazon, have enacted plans to retain top talent. This month, Amazon announced a $700 million retraining programto build “pathways to careers” for its employees. The training programs will focus on fast-growing areas, such as healthcare, machine learning, manufacturing, robotics, computer science and cloud computing. The company contends that this initiative will keep people from leaving, as they will learn new skills and grow within the organization and earn more money in the long run.

I’ve also encountered many people who elected not to switch jobs, knowing that they’ll earn far less than their colleagues who move on. They claim that it’s not worth the risk of entering the unknown, having to prove themselves all over again and stress over embarking upon a new job search. They also claim that their company, similar to Amazon, will try to help them grow within the firm.

While employees rationalize remaining, the evidence strongly signals that it’s financially rewarding to switch jobs at this time.

Author: Jack Kelly

I am a CEO, founder, and executive recruiter at one of the oldest and largest global search firms in my area of expertise, and have personally placed thousands of profes…

Forbes.com | July 26, 2019

#CareerAdvice : #HateMyJob – 5 Ways to Overcome a Career Slump. Great Two(2) Min Read!

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There’s something to be said for getting into a groove at work and coming in each day knowing exactly what tasks you need to tackle and how you’ll get them done. But there does come a point when too much routine on the job turns into a negative thing.

If you can’t remember the last time you were excited about a project, or got to branch out and do something different, then chances are, you’re headed for or are already experiencing a career slump. This especially holds true if you’re in a role where opportunities for upward mobility are limited.

If you’re in the midst of a career slump or creeping in that direction, don’t despair. There are a few things you can do to breathe new life into your job and make your experience more fulfilling.

1. Volunteer for New Projects

It’s natural to get bored with doing the same old things over and over again. So if your manager doesn’t think to assign you something new, seek out opportunities yourself and volunteer for them. This might mean approaching other teams and asking to get involved in what they’re doing or suggesting valuable projects of your own and taking charge. Heading up a new initiative at work is a good way to not only bust out of a rut, but get your boss’ attention — and that could open the door to a promotion down the line.

Switching Jobs Internally — How to Apply & How to Manage the Transition

2. Interact With Different People

When we think about networking, we often imagine ourselves hobnobbing with outside associates at conferences or industry events. But there’s no reason you shouldn’t do your fair share of networking in your own office as well. And the more people you aim to interact with, the more opportunities that are likely to come your way, whether it’s joining a different team or getting invited to share your input at different meetings.

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What Skill Sets do You have to be ‘Sharpened’ ?

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3. Take a Class

The more well-rounded an employee you are, the better you’re apt to feel about your career. So if things don’t seem to be going anywhere at your current job, furthering your skills could bring about new opportunities. One of the best ways to bust out of a slump is to take a class or pursue a certification that gives you more options if not immediately, then down the line. If anything, learning new things might also help you approach your current role differently, thus improving your outlook.

4. Make a Lateral Move

Maybe a promotion just isn’t available at your company, or you’re lacking a few key skills to move up to a higher level. But even if that’s the case, there’s no reason you can’t try dabbling in a new area of the business. A lateral move, in fact, might be just the welcome change your career is begging for. If you’re able to switch to another position, you’ll get to meet new people, do different things and grow your skills so that you are eventually able to climb that ladder, whether internally or elsewhere.

How to Make Your Career Change Dream Into Reality

5. Take a Brief Sabbatical

If you’re really struggling to get past your career slump and have seemingly exhausted all other options, you might consider taking some time off to refresh and recharge. Of course, most companies won’t pay for sabbaticals, so if you’re not in good shape financially, this won’t be an option. Similarly, not every company will agree to it. But if you have a healthy amount of savings and your employer is willing to be flexible, consider taking some time to pursue hobbies, travel or reconnect with family and friends. Then, when the time comes to return to your job, you’ll be in a better place mentally.

Your job should serve not just as a source of income but as a means of personal satisfaction. If that’s no longer the case, then it pays to work on breaking out of that slump. The sooner you do, the happier you’ll be on the whole.

 

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