Job Market Outlook for 2002
Prepare Now for Hiring Rebound
by E. René 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 2001, 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 2002, 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, 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, be pleasant. Make a lasting impression. Repeat this effort for every single contact on your list without fail. Every time you're given a new name, pursue it.
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!
Copyright 2002 E. René Hart
