The Invisible Balance in the Visible Job Market

By admin • January 14th, 2009

As the job market continues to tighten and more and more available candidates enter the scary job market some desperation is beginning to set in. I have spoken with more than 50 people so far this week that are seeking new career opportunities. Which is a good thing, I mean come on, isn’t that my career?
I want to explain a balancing effect in the job market.
Many of us have heard of the terms “employer’s market” or “applicant’s market”. These two groups make up the job market. Funny thing is that an employer is an applicant with a job.
“Employer’s Market” = Is when the employer has the artificial control over the hiring process. Simply put, when there are more candidates than jobs.
“Applicant’s Market” = Is the time when the candidates can practically name their price because there are more jobs than available candidates for those jobs.

For the last several years it has been a candidate’s market. About 12 years ago the economy was doing quite well and we were in our hay day. If someone wanted a job it was somewhat easy for them and they had the pick of the litter. Candidates were getting overpaid for jobs that more than likely they were stretching to even be qualified. Things have been balancing out over the last few years meaning that the available jobs were close to equaling the available candidates. “The literal market shift is clear within the last couple of months but the mentality of our previous environment is still lagging behind.”
If you did not hear yet, IT IS AN EMPLOYER’S MARKET TODAY.
Employers are beginning to see things that they have not seen in a while…options.
Couple of points to make you aware:

  • There is competition with other job seekers (not just other applicants, but real competition)
  • The hiring process will begin to slow, not because of market/company conditions solely but because of options. If it is not you, then they have other strong candidates right behind you.

There is hope. No sense in getting discouraged or desperate. Get better.

  • Improve your interviewing skills (hire an interview coach, buy a book(mine preferred), read and apply it)
  • Spread your net: Be as flexible as you can. Be open to relocate, travel, do whatever.
  • Decrease your salary expectations. To tell an employer or recruiter that you are making $XXX but that you want a % increase…forget it. Those days are over.
  • Some corporations are trimming the fat, do the same. Cut your expenses (cell phone, dining out, going out, entertainment, car payments, etc) I am not a financial advisor but you can in a sense mimic the companies behaviors.

As I mentioned before, desperation can begin to creep into your mind. I understand why. Candidates are selling me harder and harder everyday that they are able to perform jobs that they are not remotely capable of doing. The sad part of that is that they know it. The candidate understands that they would sink in that role but they seek the internal fulfillment of having someone tell them yes. I will add another point:

  • Don’t beat a dead horse.

Now is the time to work harder AND smarter, not in desperation. Does that make sense at all? Get as many leads as you can, let everyone who will look at you know that you are seeking employment, be professional and flexible.

Comments(2) Applicants Market, Employers Market, Interviewing, Job Market, Networking

Comments

By Top Interview Tips on February 6th, 2009 at 4:24 am

Thanks for you post. I must say that you have done a very nice and informative post. keep sharing such type of write ups.
http://www.topinterviewtips.com

By Andrew Racknick on April 20th, 2010 at 7:15 pm

This is an interesting post as it truly is a employers market these days, it forces job seekers to find alternative methods in locating those open positions and leave a lasting impression.

Due to this impalance in our job market sites like http://www.aspire2work.com and alike have moved onto showing job seekers alternative and creative ways in searching for employment in order to beat their competitors.

 

Leave a Comment

« Completing an Online Profile | Home | Posture during your Interview »