In February 2020, the unemployment rate in the United States was the lowest we have seen in over 50 years. Since a national emergency was declared mid-March, the unemployment rate in the US has increased rapidly. According to CNBC, over 26.5 million people have filed for unemployment in the last 5 weeks. Those numbers are shocking and unprecedented. The sudden increase in unemployment has caused the job market to rapidly go from a candidate driven market to an employer driven market.
The effects of the market change on job seekers is evident. The competition for open roles has increased and job seekers are noticing. Several connections have asked me for advice on how to best approach their job search now since the market has changed. So, I am sharing the best tips for job searching in an employer driven market below. The best news? They can help your search be more effective in any market!
- First, make the most out of every single application. Employers are inundated with applications for open positions right now. With the influx of applications, hiring managers have minimal time to review resumes and determine who they will interview. That means every time you apply make it count! Tailor your resume to include all the relevant experience you have for the role you are applying to. This small investment of time will pay off when you are called back for an interview!
- Secondly, thoroughly prepare. With LinkedIn at our fingertips, gathering information to prepare for a job search or interview has never been easier! Researching what a company does is extremely important before an application or interview, but do not stop there. Search for more information like news articles, recent blog posts from team members, and details on projects the organization is working on. This insight will help you tailor your pitch when you interview.
- Finally, reconnect with your references. Although nurturing your network should be a continuous practice, it is especially important during a job search! Now is a great time to reach out to former colleagues and references to let them know you are looking in the market. Ask them if they are willing to be your reference in your job search and let them know what types of roles you are searching for. I have witnessed the power of networking time and time again for job seekers. You never know until you ask! There could be an opening on their team that has yet to be posted.
These are certainly unparalleled times with millions of people entering the job market.Through the uncertainty, one thing is certain: the job market will not be like this forever. For now, control what you can by making the most out of every application, taking your research one step further, and utilizing extra time to network and reconnect with references and former colleagues. We can navigate this ever-changing market and make the most out of it!
If the uncertainty has you looking at the market, lean on me as a resource. I am happy to share mores tips on how you can make the most of every application, prepare for interviewing, and best utilize your network to uncover open positions that may not be posted online. Reach out to me today! Troot@qconsulting.com