Things are changing, rapidly. We’re all on this roller coaster ride that isn’t fun at all. Our lives have been heavily impacted, especially our careers and our work.
The job market has been impacted just as much and the future has us living in the unknown right now. For anyone like me, that unknown is terrifying. It leaves you feeling unsettled, anxious and worried.
So I went digging into finding some answers to remove some of that unknown quality and was pleasantly surprised by what I found. This article isn’t anything “written in stone” but just a collection of insights about the marketplace that will leave you feeling a little surer of what’s to come.
First, let’s break down the immediate impact this crisis has had on the marketplace, especially the organizations and how they have reacted. Jenny Hargreaves over at tellent did an amazing job breaking this down. She noted that most organizations fell into 1 of 3 areas:
1. Ruin: these are the companies that are falling apart. They may be declaring bankruptcy, shutting down or on the brink of it happening.
2. Dormant: these companies were shocked and they are unclear of how this will impact them. They’ve entered a “wait and see” approach by having a hiring freeze, issuing temporary layoffs, having really scaled back on their goals and the staff needed to accomplish it. They anticipate and can survive this for 3-6 months and after that there is some uncertainty.
3. Hiring: These are the companies that are expanding and growing during this time. While all industries may see some growth, here is a list of industries that are experiencing expansion:
The anticipation is that all of these will continue to grow with the thought of 3 waves of Covid with social distancing measures needed for each, so we would expect this expansion to last 18 months -2 years.
Now not every department within these industries will grow. Some thoughts I have on the departments that will be important:
1. Risk Management & Cyber Security (obvious reasons)
2. Human Resources (unlike 2008, HR has saved the day for many organizations),
4. Communications (2nd most sought after talent right now)
5. Marketing (for pivots – but will be short lived, there is expectation that some lay offs may happen once we are done)
Some of the departments that have been streamlined are Project Management (in the short term and then will come back), Sales, Marketing and Administrative.
SO WHAT CAN YOU DO?
So if you are looking for a job right now or will be in the near future, what are some of the actions you can take?
1. Explore the list of growing industries and examine your skill set. What skills do you have already that can be used?
2. Dig into the companies on this list to see who has a history of remote work. They are the ones we really want to target as they would’ve been able to pivot during this time a lot quicker and easier. All they had to focus on was the pandemic. Companies not set up had to divide their attention between setting up their workforce to work from home PLUS the pandemic.
3. Research and get familiar with the technologies that make working from home a lot easier. When applicable, update your resume and LinkedIn to showcase them.
4. Speaking of your marketing documents, focus on your experiences that involved TRANSFORMATION. Either transformation that you led or where a part of. Outline how you can make the lives of these companies and the people within it easier.
5. Networking is always the best thing you can do for your career. But this is especially true right now. People are more generous in spirit which means that they are more willing to agree to an online networking meeting. For my clients, a lot of great networking is happening right now. Speaking of, join my Career Networking Group!
Hope exists. The marketplace is going to change, that’s a fact. But when we focus on thinking about the opportunity that this time is giving us the we feel hopeful and we take actions that lead us to those great results we want to see.
If you are struggling with this right now, schedule a free strategy call. Let’s talk about your struggle right now, your vision for your future and how we can get you there.
Sara Curto, Career Management Specialist. Working with you towards Career and Job Search Success.
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