trickle down economy – Career Hunts Blog https://www.careerhunts.com/blog Career Hunts blog | Job Recruitment Advice | Career Guide Sat, 24 Dec 2022 05:40:13 +0000 en-US hourly 1 https://wordpress.org/?v=6.1.1 HOW TO FIND A JOB IN A DOWN ECONOMY https://www.careerhunts.com/blog/how-to-find-a-job-in-a-down-economy/ https://www.careerhunts.com/blog/how-to-find-a-job-in-a-down-economy/#respond Sat, 24 Dec 2022 05:40:13 +0000 https://www.careerhunts.com/blog/?p=849 HOW TO FIND A JOB IN A DOWN ECONOMY

You need to become even more adept at selling your expertise when looking for a new job during a recession, whether you’re currently unemployed or not. Unless you have a very specific position in mind and know that the company in question is hiring, you should know what kinds of vacancies are being advertised in general before giving your current employer notice and handing in your resignation due to the recession job market’s lack of desirable options.

Both employment and job quality suffer during a recession. With fewer jobs available, it can be challenging to negotiate a salary increase if your recruiter knows you aren’t actively looking for work elsewhere. After a recession has ended and the economy has begun to recover, the first jobs to see a rise in hiring are often the lower-paying ones.

If you’re contemplating leaving your current position for a new opportunity, it’s important to think about your job security as well. Make sure you do your homework on both companies to determine which one has a better shot at weathering the economic storm and thriving in the long run before you decide to leave your current employer.

Joblessness during a downturn

During a recession, when unemployment is high and job competition is fierce, many workers choose to take pay cuts to keep from being unemployed. During a downturn, it can be challenging to find work, much less quality employment. It’s not impossible, though; you just need to know where to look.

During a recession, even companies that are hiring may be hesitant to make a long-term commitment to an employee if they can get the same work done for less money by hiring a contractor. In an effort to save money, some companies will even replace permanent workers with temporary ones.

Finding Work in a Down Economy

For as long as their company remains solvent, at least two groups of workers never have to worry about losing their jobs during a recession: those who generate revenue, and those who find ways to cut costs. Your chances of getting called in for an interview are better if your resume and cover letter demonstrate that you can do at least one of these things for the company you’re applying to work for. Think carefully about your most marketable skills before you start sending out applications. Tailor your CV to reflect this, highlighting the results you have achieved in previous jobs.

Do not squander your time sending in resumes for every open position that seems vaguely relevant to your skillset. Submit fewer, more focused applications instead. When times are tough, businesses often cut back on hiring and only bring on board the employees they absolutely require. It’s unlikely that a recruiter will want to meet with you to discuss the job if your qualifications aren’t a match for the needs stated in the ad. Make sure you reserve your efforts for the jobs that are a good fit for you.

Data mining for recession-proof industries

If you narrow your search to industries that are still expanding despite the economic downturn, you may find a new job more quickly. Find out which industries are still growing by researching the trends in hiring. It is possible to find sites that update their data on job growth by industry and occupation every month, as well as sites that predict future hiring trends. Seek out the ones that feature regional or national statistics and study the data carefully; you may discover that you can put your expertise to use in one of the fields listed there. Choosing not to investigate possibilities in recession-resistant sectors would be a missed chance. Once you’ve located promising openings, consider how the businesses that are still hiring could profit from your expertise.

Chances like this are too good to pass up. Examine every possible option for applying for jobs, such as online job boards, recruitment agencies, and even the local unemployment office. Inquire among your social and professional networks to see if they are aware of any relevant job openings. Examine a company’s website for job openings if you’re keen on joining the organisation. It is a good idea to call the company cold and ask if there are any upcoming job openings. Express to the hiring managers why it would be a good move to hire you.

It’s time for the interview.

Once you get invited for a job interview, prepare for it. If a recruiter invites you to discuss a job opportunity, learn as much as you can about the company as possible, from its products and services to the challenges it has faced. The more informed you are, the better you will be able to address the company’s needs in a conversation with the recruiter. If it has been a while since your last job interview, search the internet for the frequent questions that are asked at job interviews and think about how you would answer them. It if comes down to you and two or three other candidates–and competition will probably be more fierce in a recession market–being prepared for the job interview can make all the difference.

Another thing to keep in mind is that, in recession times, companies look to recruit people who are twice as motivated and will work twice as hard to keep the company’s head above water. During the interview, it is essential to let the recruiter know that you are the kind of person they are looking for. If you haven’t had much luck with your job applications, it is easy to become demoralized, or even bitter. If this is the case, it is important not to let the recruiter see this. No matter what topic comes up, keep your answers positive and your eye on the ball.

Last but not least, regardless of how the interview went, always follow up with a thank you note. It shows good business etiquette and you never know when you will meet the same recruiter in a similar situation. Leaving a good impression can open doors for you down the line.

WOULD YOU LIKE TO ASK ANY QUESTIONS?

The interview is coming to a close, and at this point, the interviewer will ask if any questions remain.

Many people walking into interviews are unprepared for this section. As part of your interview research, you should anticipate this type of question. However, when posed, the question generates a plethora of potential answers.

Have a list of questions ready for the interview, preferably with at least six items on it. Have more than you think you’ll need as back-up, as some will be answered during the course of the interview.

Put them in writing. Nothing improper about using pre-prepared notes during the interview. Not only is this not dishonest, but it also demonstrates to a potential employer that you have given the position and company careful consideration.

Try not to go with run-of-the-mill questions like:

  • When do you want someone to start?
  • Why is this position available?
  • When will I hear from you?

Neither the applicant’s lack of preparation nor the lack of research evident in these stock questions suggests that they have done their homework or are serious about the position. To put it bluntly, you will not impress.

Don’t ask questions that make you sound as though you’re only interested in yourself, such as:

  • Do you close over Christmas/New Year and will I be paid?
  • What’s your policy if I use up my sick leave entitlements because my kids are sick?
  • Do I have to attend networking functions outside normal business hours?
  • And never use the dreadful “You’ve already answered my questions”. Show some initiative!

Create some thought-provoking questions to ask at the interview to show how seriously you want the job. These should get your brain working:

  • If I was successful how do you see me contributing to the corporate goals you’ve mentioned?
  • How do you see the first 3 months in this role?
  • How will you measure my success?
  • What do you like about working here?

Be wary of asking too many questions about advancement. When asking about promotion opportunities, for instance, it’s important to avoid giving the impression that you won’t be committed to the position long-term. You can ask, “How do you see a path for advancement in two to three years if I’ve met the objectives of this role?” instead of, “What are the chances of promotion and how long would it take?”

Other questions you could ask include:

  • What are your company/department goals for the next 12 months? If I was successful how do you see me contributing to these goals?
  • Your values and culture are described on your website, but I am interested in how you would describe them.
  • How would you describe your management style?
  • Will there be an induction period? How do you see the first week in this role?
  • What kind of people do really well in your company?

Make sure you stand out from the crowd by preparing thoughtful questions to ask during your interview.

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