Take Advantage of Current Market Trends While Job Hunting
Spring has sprung, the sun makes it easier to get out of bed, but one thing is for sure, times are still tough. We thought the pandemic was hard. How are the current market trends hitting you? Or, how is the let’s-call-it-what-it-is recession impacting your current job hunt? The roaring twenties are feeling what might be, a little too familiar. When was the last time you talked to your grandparents about their experience through the depression? We can all be grateful it’s not quite like that.
And still, it can be hard to feel grateful being left to bite the dust, job hunting. However, 2023’s market trends can be very advantageous for those in tech, sales or start-up spheres (Talent Houses’s recruiting niches) to be more specific)).
There are 5 reasons you should be excited about job hunting or job-stalled at this moment in time.
#1 Companies have to disclose salary ranges
Let’s say you are actively job hunting. There is no better time in the USA, because finally, “Employers will be required to disclose the minimum and maximum range on offer before discussing compensation with the candidate,” according to CNBC. While this has only been put into effect by a few states it puts more power in the hands of candidates across the country.
When it comes to salary negotiating, things are going to take a turn– in your favor. Be aware that some companies might aim their ranges on the low end, understandable so. However, this never-before-collected data will radically change the way candidates are able to leverage their own salaries. This is especially true for folks that have traditionally been marginalized: such as underrepresented minorities, women, POC, and those in multiple intersections such as Women of Color.
#2 Candidates are seeking hybrid or remote work
Trends are showing that folks are willing to take a 5% pay decrease if they can stay home. Companies are being forced to recognize that many of their workers are interested in remote work. For us at Talent House, almost all of our businesses are already on this trend, looking for remote workers.
This widens the breadth of options. We would recommend even applying for jobs that are looking for a hybrid and push a remote agenda with as few days in the office as possible, like once a month where you can fly. Just an idea. This advantage also comes with disadvantages, as this remote trend opens the floodgates for other candidates across geographies. This makes the competition to stand out much more important.
#3 Social selling is up, way up
Social media will continue to be a great way to sell, now and in the future. And it’s much more subtle than we think, it’s all about building relationships (something our sales folks are more than equipped to do). So how can this trend help you while jobless?
Lean into social media during your downtime. If you are already familiar, great, make a business account and try positioning yourself already as an expert in your field. Be creative and make videos sharing your knowledge. According to Vidyard, 71% of sales professionals agree that video emails outperform text emails, so in general, being able to make, create and post an engaging video will be a gold-mine characteristic to your potential employer. The takeaway here is that working on your personal brand is a trend we don't see going away that appreciates over time, so make that account.
#4 Creativity is the new sales hack or AI is taking over (however you look to see it)
Similar to social selling, this is something you can actively work on while not working. Sales automation is up. Automation and AI are being utilized in sales, so much so that systems will be largely left to bots. This means that becoming irreplaceable means being able to do things a computer will never be able to do. Mainly being a multidimensional thinker and being– expressing creativity, problem solving holistically and being innovative. Work on and flex your creativity while you are waiting for the job to come your way.
If you don’t already think of creativity as a skill, start now and look into flexing, working on and increasing this skill while at home.
#5 Entrepreneurship and freelancing on the rise
Last but not least. How long are you willing to wait for a job to come your way? In the meantime, entrepreneurship and freelancing are on the rise and companies realize how lucrative it is to keep someone off their payroll and just invest in one consultation at a time. The Great Resignation is on its way up. With new small businesses continuing to hit record numbers in both 2021 and 2022.
Position yourself as an expert (on social media #3) and as a freelancer or consultant and catch work in the interim. This is something you can also post on your LinkedIn to show off. Additionally, let’s say your freelancing or small entrepreneur project goes well, start-up companies are always looking for this kind of spirit in their hires, so it’s a win-win.
Market trends are showing that while in a recession, we have a lot to look forward to if we are positioning ourselves well, leaning into this time and taking advantage of this time for growth.
Talent House is a direct placement search firm helping high-tech startup and growth companies with sales, marketing and other go-to-market and technical hiring needs. We’re happy to speak to you if you’re a hiring manager, a CEO or a candidate that has questions and would like our help. email@example.com
Tell us what trends are keeping you in a good mood in 2023!