Well, it’s been a while since my last post. Between family and work, my life has become very busy. This post will cover a lot of ground and should make sense when you get to the end.
In the last 3 months, the job market has improved in some areas, but not all. I talk to people and listen to the news and I get the feeling everyone is waiting for that “big bang” in the job market. You hear about corporations posting record profits, the stock market is over 12,000, so people start to wonder, “All this news about the economy is great, but why isn’t it translating into more jobs?”
The short answer is a lot of companies have learned how to do more with less over the past 2 years and are now rewarding their shareholders. Why dilute profits with investment [new hires] when you don’t have to, considering you [the company] are being measured against diminished expectations?
This thinking is short-sided. When things turn around, top talent will “cash out” and walk away. Some towards retirement, but most will try to fix their work-life balance by striking out on their own. Using their new-found wealth, they will create another wave of start-ups. Will it be a repeat of the 1990’s boom and bust? Not likely, but it does present a dilemma to the companies that ground their people into dust in exchange for short-term profits: who will replace the top talent? Like-for-like replacement is out of the question; those that would be potential candidates are smart enough to know better. So that pushes them to one of two outcomes. Option A is to replace top talent with average talent and suffer a downturn. Option B is to improve work conditions to entice top talent to stay, or make it worth their while to change jobs.
My guess is most companies will roll the dice on Option A, then move on to Option B where it doesn’t work out. So where does this leave you, loyal reader? Not in a good place if you cannot figure out what you are a “top talent” at. Figure that out and market yourself that way. If you cannot convince a company that you should be at the top of their short list of talented candidates, then you are not presenting yourself the right way. Rethink how you market yourself.
If you are struggling with how to market yourself as “top talent”, email me and together we’ll figure it out.