How to adjust your job search in an uncertain marketIf you’re looking for a job in a troubled sector, you have to adjust your job search. :Commercial real estate is in trouble” warnsin a piece about the broader economy, though it may just as well be a piece about the job market. Troubled sectors, like commercial real estate, are more likely to have limited job prospects. Employers pause hiring till conditions improve, or at least till there is more certainty that conditions will improve.
These are just some reasons why jobs might exist but go unadvertised during an uncertain market. As an experienced professional, tap your connections toand need right now, so you can see if there is potential for a job there – irrespective of whether one is listed or not. Review your messaging to ensure you’re clear and compelling about what you can contribute to the bottom line.
Following up with your own network, as well as potential employers and recruiters, is always important. In an uncertain market, close and consistent follow-up is even more critical to catch potential openings as they arise. Employers are hesitant to hire in down markets and can get distracted to non-hiring activities, like saving their business, so you need to work harder to stay front-of-mind.
The wrong hire is always expensive. The employer may have paid recruiting fees. Internal employees, including HR and the hiring group, dedicated time to the search. The vacant position cost the company lost productivity and impact to their bottom line. In an uncertain market, the wrong hire can feel even more expensive since spending is more closely scrutinized.