Q4 Job Market Update

In my last Update I predicted an up-swing in September. This was primarily based on two factors. The summer slow down was coming to an end and the economy was recovering and would promote job growth. The reality is that there has not been an up-swing, more like a small bump from the bottom.

Companies are still laying off workers to get to profitability. The predictions on a jobless recovery early in 2009 seem to be on the mark. Why? - companies are looking for profitability and are shedding human capital and avoiding projects to get there. Other companies are being acquired thus eliminating employers altogether. The companies that are growing are selectively hiring but doing it cautiously. The Mercury news article earlier this months verifies this activity ( http://www.siliconvalley.com/the-valley/ci_13766368).

What is in store for us is hard to know. At this point we are in a better employment market than in July and August but not good enough to provide job seekers multiple opportunities.

My advice at this time is to be flexible in compensation (be open to a small reduction in salary) and look at any role that will help your long term career goals. It does not need to be a step up in responsibility, it can be a role that provides experiences that will round out your over all background thus making you more marketable in two to four years when the market is much better.

There is a good chance that new opportunities will slow down to a halt in middle of December. Now is the time to look at all options otherwise you may be in the same position mid to late January when everyone is back from holidays and caught up with their work.

Where should you be looking for a job? Use your network to provide any and all resources that may help. I look to the moneytree (https://www.pwcmoneytree.com/MTPublic/ns/nav.jsp?page=industry) for investments into growth industry segments. The greatest industry investments in Q3, 2009 were - Biotechnology/Medical Device - 32%, Industrial/Energy - 18% and Software 13%. Businesses in mature markets may not be growing but have been hiring and upgrading their talent. These are very good employers with good career paths. Something to think about if you are looking for a more "secure or predictable" employment situation.

Happy hunting!

Bryon McDougall
bryon@alchemysearch.com

What Am I Doing Wrong? Networking Revisited


I have a new client, a senior IT professional, who has been struggling in his search for new employment. Though he has a well-documented track record, he’s had a very hard time getting interviews. His main search strategy has been to use the job boards, and after sending out at least 500 resumes in response to job openings, he has had exactly 8 interviews. His success rate of 1.6% is not very good, to say the least, but probably sounds all too familiar to those of you who utilize any of the local and national job boards.

He came to coaching with the question, “What am I doing wrong?” My response was that nearly everyone’s experience with posted jobs is about the same, and that if he relies only or primarily on “visible” job openings, he is severely limiting his odds of getting an interview. I added that he has “blinded” himself to the many opportunities that exist only in the hidden job market, those that never see the light of day.

When we started talking about networking, he laughed, and responded that he hasn’t been networking because he felt that someone at his level shouldn’t need to “beg” people for work or connections. He sees networking as a vague process and beneath his stature and experience. When we explored further, it turned out that he was embarrassed about networking mainly because he didn’t know how to tell his story in a way that was compelling and that he didn’t really know how to ask for help.

We began by having him script and practice his elevator pitch. The first thing I asked him to describe was his “hook;” a word, phrase or sentence that would get a listener immediately in the mood to hear more about who he is and what he has to offer. It was no surprise that he was unable to articulate his hook, and so that became his first homework assignment.

We then focused on how he could ask for help so that people would be likely to offer him useful ideas, information, or advice. He immediately recognized that asking directly for a job or leads to job openings was too blunt, especially if he was meeting someone for the first time. He also realized that he was much more likely to gain support if he framed his request in a way that people would respond with “yes,” instead of “no”. This, then, became his second homework assignment: How to ask for help so that people will give a positive and supportive response.

Best wishes and Happy Thanksgiving.

Mark Guterman
mark@alchemysearch.com

"What is the most significant change in client expectations over the past two years?"

This question provided by Canaan Ridge (www.canaanridge.com) - Exceptional thinking forum. Michael Inserra from Alchemy Search provided one of two winning responses:


"I can summarize my client thoughts in one word: Relationships

Clients want to see a dedicated professional relationship. My clients want to work with service providers who invest time in getting to know them. They want to see time spent on site getting to understand the holistic value proposition their firm offers. Clients want a more personalized and unique approach, personal dedication, and a genuine interest in scaling with them verses a transaction. Process-wise, clients need confidence that we are one step ahead on logistics and have eliminated the obstiacles to close smoothly. There is no tolerance for leaving the final step up to chance."

The New Normal

As the national unemployment rate approaches 10%, I see increasing numbers of people who are becoming resigned to an economy where 9-11% unemployment may become the “new normal.” As this plays out in our work and lives, I see growing fear and anxiety, shattered dreams and confidence, and find it a continuing challenge to help people feel hopeful about the future.

It is, however, a “normal” reaction to feel discouraged during times like these, whether this comes from being bombarded by news of layoffs and budget cuts or by having the real experience of conducting an active and smart job search and seeing nothing positive come about. So, it should come as no surprise that so many are feeling hopeless and even helpless during these times.

As a coach, I wish I could help people easily and quickly move through these emotions and on to a successful conclusion of their journey. Unfortunately, all I can do is remind my clients and anyone else reading this, that by staying in the game, focusing on the process, and keeping a positive frame of mind, eventually (probably later rather than sooner for most of us) the problem will be resolved.

The challenge to stay disciplined, to be both patient and persistent, is probably the key characteristic that distinguishes those who are successful in a job or career change. They find a way, no matter how they might be feeling, to get up each morning and “go to work,” even if they are fairly certain that the work of the day will have little or no positive results. They recognize that by taking one step at time, moving a bit each day, that the cumulative effect, the body of work, so to speak, will start creating momentum. The problem for many of us is that we give up before the momentum kicks in and can do its work.

Here are some suggestions about how to work your way through the new normal:

1. Write a personal mission statement—for some this might be very concrete (I want to have a job as a . . . . by . . . at . . . salary) or it could be more esoteric (I want to help others to . . . through . . .). Read it regularly and let the energy of your mission motivate you to action.

2. Create a flexible structure that has steps/tasks to do each day. Do your best to complete those tasks.

3. Find a buddy, partner, or good friend who can act as a guide, mentor, and who has your permission and blessing to give you honest feedback, as needed.

4. When stuck or confused about what to do next, stop, take a deep breath, and ask yourself, “What’s the smartest thing I can do right now?” Then do that thing.

Best wishes.

Mark Guterman
Mark@alchemysearch.com

Career Change 101

I have a new client who is confronting classic dilemma of making a lot of money in a career he is very unhappy with. He feels trapped, as they say, by golden handcuffs, and is struggling trying to figure out how to do work he likes and still having a substantial income. He doesn’t lack for ideas, but most of them, for a variety of reasons, are not feasible (not enough income potential, too risky, spouse does not approve, etc.).

In addition to the challenge of deciding what he wants to do, he is also a very impatient person. He wants to know the answer right now, so that he can get moving sooner rather than later. As we’ve worked together, he is beginning to realize that his impatience is one of the reasons he is where he is, and has said a number of times “I’ve allowed my ambition to get out ahead of what I want to do.” He is working on ways to modulate his ambition so eventually it will be in resonance with his vision and goals. When that begins to happen, I believe he will be both very happy and very successful.

He is currently crafting a “personal job description,” that will capture honestly, and in great detail the following: What are the tasks/projects that I most wants to work on; what are the skills that go with those tasks/project; what is the work environment that allows me to do my best work; what are the values that I hold that I must have and would like to have met in my new work; and, what most energizes and motivates me to show up for work each day. As he puts this together, he is establishing an anchor, a basis for articulating what he “should” do (even if he doesn’t know what to call it yet).

He will soon begin doing informational interviewing, along with parallel internet research. His plans are to take his completed job description and interview the smartest and most well connected people he knows (and can get referred to) to ask the following fundamental questions: When you see my job description, what ideas come to mind? Who do you know who does something like this? How does someone with my background get from where I am now to this new career? Based on what he learns from these interviews, he will adapt his job description and keep moving forward until he has identified a match close enough to meet most, if not all of his, criteria.

Once he gets to that point, he will shift gears into job search mode, crafting a resume that shows his transferable skills, and learning how to tell the story of why he is making the change and how he will bring his unique qualities to his new work. For anyone who has ever gone through this process, you know how hard it is and how rewarding it can be when you see it through to the end.

Best wishes.

Mark Guterman
Mark@alchemysearch.com

Moving Forward Toward Recovery

I’ve just come back from a week’s vacation at Lake Tahoe. In addition to relaxing and playing, I spent time each morning thinking about the times we are going through and how we are moving forward toward recovery. It’s clear that the economy is still in bad shape and that the job market is months, perhaps years, away from normalizing. Even though it looks as though we are on the verge of recovery, it will be long, slow, and painful for many of us.

That being said, many of our friends and co-workers will thrive during the months ahead, while many others will continue to face unemployment, challenges, and barriers. What distinguishes these two groups? First of all is the recognition that each of us is ultimately responsible for our lives and work. My experience says that those who own this notion, who see themselves as the authors (or at least, co-authors) of their careers have a natural advantage in the work place. They feel and express a sense of confidence, are more likely to see threats as opportunities, and look for ways to maximize strengths and minimize weaknesses. They get out ahead of the curve and are, so to speak, pro-active in their decisions and actions.

Furthermore, they focus their attention and energy in a direction that will help them move forward toward their own recovery. They realize and accept that they are in charge, that they have choices to make, and that there are many more things they have control over than may be obvious. They are able to clearly discern between appropriate and inappropriate choices and they take action on those which will get them moving in a steady and disciplined way. As they do this, they also learn how to articulate and tell the “right” story, both to themselves and with others, that is positive and puts the emphasis on what they can and will do (with evidence that they have those capabilities), given the right opportunity.

Practicing the suggestions above will go a long way toward helping you move forward and there’s no time like the present to begin these practices. The sooner you get on with it, the sooner you’ll find yourself on the road to recovery.

Best wishes.

Mark Guterman
Mark@alchemysearch.com

National Career Development Strategy: Part 2

I just returned from Washington DC where we had our second meeting on the creation and implementation of a national career development strategy. There were 21 attendees from all around the country, several of whom were from prominent think tanks or high levels of the federal government.

As we worked our way through the day, one clear consensus emerged. We agreed that whatever the strategy might look like, one key to its success is that it must be deeply embedded in the K-12 curriculum so that virtually all Americans would graduate from high school with the skills and tools to manage their career for the rest of their lives. This means the development and implementation of an age-appropriate curriculum that would be just as vital to the educational process as are current and emerging graduation requirements.

All through the discussion, I couldn’t help thinking about the hundreds of clients I have seen in the last few years. Most are in their 30s, 40s, and 50s and virtually every one, somewhere in the process, makes a comment like, “I wish I had learned this when I was younger,” or “Why don’t they teach these things while we are in school?” The reality is that it is taught, but it’s not core to the curriculum, as it should be.

Assuming career development competence becomes part of what we learn by the time we are 18, how would our work lives be different? First of all, people will make choices that serve them well, as they will know how to make wise decisions and will recognize that they are responsible for creating the future they most want. Secondly, people will feel confident about their prospects, because even if they don’t know what their future looks like, they will have all the tools needed to figure out and make their goals a reality. Finally, for those who go on to college, having the skills to plan and manage their futures means their experience is likely to be more focused and meaningful.

If we can do this, the anxiety, fear, and disengagement we see around is going to lessen and become much more manageable. Rather than doing what most of us do now, like waiting for unemployment to get better, hoping the economy will improve, or wishing that the pace of change will slow down or settle, those who know how to manage their careers will find themselves in control and much more able to create the future they desire.

Best wishes.

Mark Guterman
Mark@alchemysearch.com