Before we start explaining each of the steps in the “7 Steps to Managing your Job Search in today’s Job Market” we would like to explain why a job search today is different than a job search 10, 5 or even 1 year(s) ago.
The recruiting environment is changing – online recruitment was a big thing in the late 90s and has grown ever since. Do you remember this 1999 SuperBowl Ad?
Great ad but that was 10 years ago! Online recruitment hasn’t evolved much since then and it certainly hasn’t lived up to the hype of ads like this. We at Jobspeaker, and lots of others, believe that the dominance of the large job boards is all about to change – online recruitment is undergoing dramatic changes now and over the next several years. It may take a while before a new model emerges and seriously challenges the old one, but there is such a huge amount of innovation in this space at the moment that in our view it will be a matter of when, not if the model will change.
Some leading indicators of this change:
- Some companies are discontinuing their contract with the major job boards in preference for managing the job candidate search themselves
- Recruiters are using Twitter and other social media tools to market and find talent
- Monster.com revenues dropped significantly (34%) in the first quarter of 2009. Although Monster.com’s revenues in the more current quarters have rebounded, it’s unlikely that its revenues will reach the prime level again in its current business model
- Only 1 out of every 6 unemployed people is actually looking for a full-time job – instead they are looking for short term work or contract work, starting their own businesses or finding other forms of non-fulltime work – all of which are not characterized as employment
- Companies’ in-house recruiters are getting engaged in online communities to attract talent
- For candidates there are now new ways of getting yourself noticed: Video resumes; social networking profiles, social networking advertising, personal brand management, etc.
- New models abound: pay-to-apply websites; be-paid-to-interview websites; membership based models; candidate filtering models; job aggregation tools, etc.
To be fair, some of these trends have been accelerated by the economic problems we are currently experiencing. But that accelerated change may lead to long-term change as people on all sides of this market examine the value they are getting for the time, money and effort spent using the current model(s). When hiring was going well, nobody really paid attention to metrics. In this economy, however, companies, recruiters and job seekers are examining their hit/success rates.
Back in my parents time, circling the employment ads in the local newspaper was the primary way of searching for a job – that model has almost disappeared. Today, we think you’ll agree that there’s no shortage of online resources for the job seeker. However, with the proliferation of job sites, tools, advice and approaches out there, it’s now firmly the job seekers’ responsibility to decide which tools make sense for their situation. How the job seeker manages all of this efficiently is the key to an effective job search.
Jobspeaker is a service to help job seekers manage their job search – sign up at www.jobspeaker.com.