JOB MARKET OUTLOOK FOR 2004:
Prepare Now For Hiring Rebound!
by E. Rene' Hart, CPRW
Financial experts finally made it official: they used the dreaded "R" word to describe the current
state of the nation's economy. Throughout 2002, these same experts had resisted admitting that the
U.S. had truly dropped into a recession, but all the signs were there. Company layoffs. Spiraling
consumer spending. Big companies seeking bankruptcy for bailout of unrecoverable bottom lines. Fallout
from the worst terrorist attack in recorded history.
Yes, all the signs were there. But the only ones who seemed to notice were those floundering in the
job market, which has seen some significant downslides since November 1999, when the first of the
dot-com companies began to topple.
Everyone is predicting that the economy will rebound in 2004, which means that we should see a
recovery in the job market as well. A recent survey of recruiters and employment experts by Carrie
Johnson, the @Work columnist for WashingtonPost.com, indicates that those in the technology fields
will likely be in greatest demand (as in the past), but warns that they may need more training and
experience than what they currently possess. Information security is one area getting a lot of
attention, but companies are demanding state-of-the-art certifications, experience, and expertise. Ms.
Johnson goes on to say that biotechnology is another highly specialized field for workers, pointing to
Human Genome Sciences, Inc., of Rockville, Maryland, as a prime example of a company hungry for new
talent.
November and December are traditionally slow times for the job market. Companies try to withhold
layoffs until after the holidays, and those still employed are staying put to take advantage of
accrued vacation leave, shortened holiday hours, and all the great perks that come along at the end of
the year. That leaves the unemployed (literally) out in the cold.
January, on the other hand, is a month bustling with activity from all sides. Companies outline
strategic job cuts and employees jockey for position in order to place themselves in the right place
at the right time with the right skill set and credentials.
What can you do to stake your claim in all this madness? First, you need to understand how
opportunities are forged. For instance, did you know that even in today's age of glossy Internet
career sites like Monster.com and HotJobs.com, networking remains the #1 way to find a new position?
Drake Beam Morin reports that 61% of new positions are uncovered through networking while only a scant
6% are found via the Internet. Search firms account for 12% and traditional classified advertising
pulls in 8%.
Given these overwhelming numbers, common sense would dictate that job seekers focus the lion's share
of their time on networking, but many are reluctant to take this route. Perhaps they're embarrassed
or ashamed of their unemployment status, or simply don't know how to network. There's no shame in
being unemployed...the real shame is sitting back on your haunches and not doing anything about it!
Networking is all about making connections. It's multi-level marketing at its very finest, in fact.
Grab a pad of paper and a pencil and start making a list of names. Family members first:
- Wife -- Arthur Andersen
- Daughter -- DePaul University
- Father-in-Law -- Ford Motor Company
Don't stop at listing just immediate family members...write down the names of well-positioned cousins
or uncles or in-laws. Your goal here is to create a core list of people who may have connections to
your new job! After you've exhausted your resources in the family list, think of friends, associates,
acquaintances, colleagues (past and present!), former bosses, clients/customers, community leaders,
clergy...the list of possibilities is endless.
Once you have your core list of contacts, your goal is to get the word out that you're available for
new opportunities. Make phone calls, send e-mails, write short notes...whatever it takes to let these
people know that you need their assistance. Find out who they know and how to reach those people.
Create a cover letter to introduce yourself with a paragraph that mentions your contact's name (i.e.,
Jane Smith suggested that I call you regarding the VP of Operations position with your company).
Follow-up is critical in every aspect of the job search. If you haven't heard from someone in response
to your inquiry, pick up the phone and call them. If you're not sure how to reach that person, start
with the company receptionist or switchboard operator and work your way up. A really good question to
ask: "Mr. Smith asked me to give him a call today to follow up on a project we're working on together.
Could you give me his direct line?" Then, when you have this person on the line, be direct but not
overbearing. Mention your contact's name again, ask if your initial inquiry was received, and find out
when the two of you can sit down face-to-face. Perhaps the secondary contact isn't really the one you
need to chat with, so if that seems to be the case, ask for a referral to someone who might be more
appropriate (NOT the HR office!). Be gracious, be appreciative and be pleasant. Make a lasting
impression. Repeat this effort for each and every single contact on your list. Every time you're given
a new name, pursue the lead.
Let's face it … looking for work is no picnic. On the other hand, neither is collecting that sparse
unemployment check every week! Add networking to your job search arsenal and you'll soon be on your
way to landing a new position!
Why Shouldn't We Hire You?
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