subject: Unemployment Is At 10%, No One Is Hiring, How Do You Land Your Next Job? [print this page] With unemployment rates well above 10% in the United States and across parts of Europe it's no wonder people are becoming extremely frustrated by the lack of quality jobs in the market. And if you think this nightmare of a situation is just another minor short term hiccup the economy is going through, think again! Economic data suggests that high unemployment rates are here to stay at least for the foreseeable future. Although Obama is trying hard to create jobs by implementing regulations such as small business tax cuts, extensions on unemployment benefits beyond six months, and today's proposition to increase and permanently extend a tax credit for business research as a way of boosting job growth, if corporations aren't hiring then it doesn't matter how good his ideas or new found regulations are.
As an American living outside of the United States, it's easier for me to see the "big picture". Perhaps it's because I haven't been brainwashed with all the "Ra, Ra, Ra, Go America, Yes We Can!" talk. I know it's easy to get sucked in to all of that when you're surrounded by it 24/7, but let's be honest here. Yes, we can what? Can we force countries to decrease the cost of goods we import just so we can reap higher profit margins? Can we force China to let the yuan appreciate against the US$ any quicker in order to control the rising costs on goods imported to the United States? Can we keep printing money to cover health insurance and unemployment costs without sending inflation into overdrive? The answer to the above questions are NO! "No We Can't"! Now please don't get me wrong here. I don't mean to be overly negative about the situation, and I do give President Obama a tremendous amount of respect and credit for what he has accomplished so far. It's not his fault the economy is in the state it's in, but we have to wake up! The unemployment rate is not going to get better anytime soon because of the new health care bill or because we're giving small businesses a tax cut. As a matter of fact, it's quite the contrary. Every solution the Obama administration comes up with has to do with spending more money we don't have sending the US economy further into debt. Oh and for those of you who are relying on your pension to bail you out of this mess, I wouldn't hold your breath. Government pensions means the government has to have money which they are running very short off.
OK, so now you know it's bad out there. What do you do? The way I see it, is you have three options.
Sit around and wait for the economy to get better (you're going to be waiting a long time, decades perhaps)
Look overseas for jobs (not the most viable solution, but for those willing to relocate, there's big money to be made especially in Asia)
Get out of your comfort zone and come up with innovative ways to help the company you work for increase its bottom line in order to keep your job or get your next one.
I remind my employees everyday; "It's bad out there and no one is going to look out for you, but you!" When unemployment rates are as high they are, businesses quickly find themselves in a strong position of power. It's an employers market, and they can take their pick of the litter from around the world. They don't have to settle for anything but the absolute best and these are exactly the individuals they are going to hire. When it swings the other way and employment rates fall, the employee has the upper hand, but unfortunately this is not the case.
No matter what industry you work in or are applying to work in, your employer wants to know how you are going to make an impact on the company's bottom line. If it's a charitable organization, they want to know how you are going to help them raise the money needed each month to stay open. If you're applying for a teaching job at a university, the Deane is going to want to know how you are going help each student increase their GPA. Higher success rates amongst the student body will lead to an increase in tuition applications. An increase in applications leads to an increase in, you guessed it, $$$. The point is, no matter what industry you are applying to work in, they all want the same thing:
increase profits
decrease cost
raise more money
help the school position itself better amongst other schools in the community
create the next best product
come out with innovative ideas that will move the company ahead of industry peers
scout the next best pop star
recruit the next Michael Jordon, etc...
All of the above mentioned points have to do with moving the company or organization forward. Every position within every company is vital in today's economy, and it's not about working hard anymore, it's about working smart! That's it. Employees need to work smarter. They need to stay an extra hour each day if they are behind on a deadline. They need to work over the weekend if they are short of hitting their monthly target. They need to think outside the box and come up with innovative ideas that no one else has thought of. When I was told that corporations where using social media sites like Facebook, Linked In and Twitter to increase profits, I thought they were crazy. However, we took it on board and it is now our most effective means of marketing and brand building for the firm.
Prove To Your Employer You Are Worth The Pay Rise
If you think that you're not earning enough pay to have to go above and beyond and you'd rather wait for your employer to give you a raise before you work any harder, then you might as well quit now because it's just a matter of time before you get fired. Prove to your employer that you're worth the increase in salary or higher commission rate. Prove to the company why you deserve a higher bonus payout at the end of the year by illustrating exactly why you are worth the increase in salary. What will the company get in return for the increase? As I mentioned before, it's an employers market out there and you can go against it or join the rest of the employed and secure your position with a positive attitude and strong work ethic.
College Students, It's Not Looking Good For You, But The Good News Is...
Unfortunately for you college graduates, during times of economic hardship you're not going to be an employers first choice. Most corporations around the world have never been in a better position to be able to hire the absolute best in their field. This means, they don't have to hire first year college graduates with no prior work experience. They're looking for proven veterans who have experience in not only working with successful organizations, but have been solely responsible for helping the organization grow. Employers are not interested in just a diploma anymore, and they really don't care that you went to an Ivy league school. All they're interested in is how you are going to help increase the company's bottom line! Remember, we're in a recession, borderline depression here. I'm going to guess that your college professor didn't teach you how to handle a job interview in a recession where unemployment rates are at record highs so I'm going to help you out here. You need to stand out at your next job interview and explain to your boss why hiring you is going to indirectly help move the company to the next level. You will stand a much better chance of being hired if you go with this approach. Yes, you're GPA and the school you went to will be taken into consideration, but that alone will NOT cut it. When I hire college graduates, I'm not interested in what sports they played or what social communities they belonged to. All I'm interested in is what new and fresh ideas they are going to bring to the table. There is nothing more beneficial to a company than a young, fresh college graduate full of innovative ideas with an explosive passion to conquer the world. When it comes to innovation you have a major advantage over a 20 year veteran, but remember you're being hired to help the company increase its profits with new ideas, and you need to remind your employer exactly how you or your contributions to the business are going to achieve just that.
In Summary
Corporations are extremely nervous to hire employees today especially after the most recent global economic meltdown. It's changed the way CEO's run their businesses and it's changed the way Human Resources hire employees. They know that the economic situation isn't going to get better anytime soon regardless of what new regulations the Obama administration put in place. Unless they feel 100% confident that you are going to bring new ideas to the table and commit 110% to helping the company move forward, then I'm afraid you'll find it extremely difficult to land your next dream job.
Unemployment Is At 10%, No One Is Hiring, How Do You Land Your Next Job?
