by Karen Armon, CEO/Founder, MarketOne Executive
The challenge executives face today in their career search boils down to one thing — finding leads.
It is vital that you find and contact hiring leaders, turn your contacts into exploratory interviews, and keep in touch with leaders so that you can be first in line when the freeze lifts.
But achieving this requires much more than it did in the past. You must be more creative and innovative in your job search than ever before.
To come up with these creative methods, you need to understand what is occurring right now. I speak with over 300 executives a year – whether they are in transition or landed – and I get a pretty good idea of what is going on out there.
As a result of these conversions, here is what I’ve identified as the 5 Essential Moves in the Executive Job Market:
- Our economy may be at a turning point this summer but we are not out of the recession — yet.
- Job interviews, almost non-existent 6 weeks ago, are opening up, but the hiring process is very slow.
- Companies are definitely looking to “trade-up” talent, but are offering less in total compensation – sometimes up to 60% less.
- Midmarket companies that are leveraging this recession for growth and innovation show be your target, but only 50% of them are in this classification.
- Mobile technology may be the engine that leads us out of the recession, but watch for new regulation that may stifle rapid growth.
So, how do you address these changes?
- Be prepared for a long search – both financially and functionally. Even with interviews opening up, it will still take until Q1 or Q2 of next year to see a real opening up of job offers. Companies are still very, very careful and won’t pull the trigger quickly. Do what you have to do to extend your ability to find opportunities and keep in the game.
- Keep digging for opportunities every single day. Don’t just work a couple hours a day. Get out there, meet people and be open to new ways of bringing in income. Conduct your job search as if it was a business open 50 to 60 hours a week. Be aggressive (but pleasant) and keep going way beyond what others will do.
- Craft a powerful and professional presentation – in print and in person. With companies trading up talent (i.e. getting more skills for the same position), you have to stand out. And that isn’t achieved by you personally putting together you a “do-it-yourself” campaign. If you can afford it, invest in hiring a coach AND a professional resume writer. It is an investment that will pay off.
- Be ready for offers that are lower – especially in base compensation. Don’t get insulted, get prepared. Get a good idea of your minimum acceptable offer. Have a plan if you have to turn lower offers down. Get realistic, financially, and be prepared to downsize your daily expenses. If you can’t conduct an extended campaign, find ways to bring in income part-time or by consulting. If you can handle a lower offer, then trim your budget now so that the shock won’t be so bad.
- Look for opportunities in emerging markets and new businesses. Look for micro-trends (for a great resources, download my FREE ebook Ten Micro-Trends that Impact Executive Careers Today. These areas of the economy run under the radar and create new business opportunities every day. Your network is the best method for keeping your ear to the ground and your eyes open for new opportunities.
The MarketOne Executive Bottom Line:
If what you are doing isn’t yielding result, you need to get a new approach and a fresh perspective.