7 Top Tips to avoid disappointment in a slow job market
When I was growing up, the AA (car breakdowns not alcoholics anonymous) used a cheeky strapline to promote their service.
They called themselves “The UK’s 4th Emergency Service”.
The Role of HR During the Pandemic
In 2022 I wrote an article where I referred to the HR Profession as…
“The UK’s 5th Emergency Service”.
This was in recognition of the amazing work that HR Leaders & their teams delivered during the pandemic.
I know, from speaking to many, how overwhelming the work load was in 2020/21.
And I interviewed lots on our “Unprecedented Leadership” podcast too.
One story stood out. The centrepiece of the story was that HR professionals were struggling with COVID PTSD.
I think we all understand why.
The Current Job Market: Summer 2024
Fast-forward to now. Summer 2024. Many of those we relied on, are now feeling the “ROI heat” from their employers because, in the last quarter, the job market has slowed considerably.
Factors Contributing to Job Market Uncertainty
General Election Impact
First and foremost the job market hates uncertainty and we have had the General Election hanging over us.
Economic Uncertainty
Secondly, ongoing economic uncertainty (with high interest rates) has meant that companies haven’t been investing in change projects. Capital investment in strategic projects typically leads to significant new job opportunities.
Professional Stability
Thirdly, in uncertain times most professionals adopt the “better the devil you know” approach to their careers – people won’t move jobs for a few extra quid if the company isn’t as stable financially.
Implications for Employee Engagement and Redundancies
All of this translates to companies investing more in driving employee engagement and therefore staff retention in order to improve productivity which in turn leads to a lower than normal, natural movement of people changing jobs.
It also means that many businesses will seek to reduce their wage bill meaning some redundancies are inevitable if they haven’t happened already.
Historical Trends in Economic Downturns
In previous economic down turns, the first professional discipline to face redundancy is Marketing, closely followed, sadly, by HR.
Tips for Facing Job Market Challenges
So I wanted to offer a few tips from my 27 years in recruitment in the East Midlands to anyone facing the unexpected:
Update Your CV
Get your CV sorted. Not just dusted off, properly sorted. Make sure that you bespoke it to every job you apply for, make sure you mirror the language in the job spec, make sure you order it correctly. E.g when a job spec is written do you think that the least important element of that job is the first bullet point? No. Exactly. It will be one of the most important. So make sure you tailor your CV to show what you have done & achieved to match the priorities of the Spec.
Interview Preparation
Out-prepare everyone else at interview. If interviews are hard to come by, make sure you are the keenest and most passionate candidate that they are meeting. The best way to do this is to ask commercially relevant and up to date questions. Get the interviewer talking about themselves.
Networking and Consultancy Opportunities
Reach out to HR Professionals who have set up their own Consultancy or Practice. If they are doing well, they will need associates.
LinkedIn Activity
Get active and visible on Linkedin. It is the best way to network from your living room or kitchen table whilst watching the TV… the Olympics is coming up, it’s time to multi-task.
Connecting with Professionals
Work out who the very best connect professionals are in your World. Buy them a coffee (as everyone likes coffee) and ask them questions. Ask lots of questions.
Partner with a Recruiter
Make friends with a great Recruiter. If they like you, they will work more proactively on your behalf.
AI Proficiency
If you turn up to an interview and you are asked to describe how proficient you are at AI, you need to ensure that you are not a novice! This is your opportunity to stand out from the crowd. We can help here!
Additional Resources
Finally, if you would like to understand what the market is doing and why it’s doing it, Darius Matusiak runs a quarterly, on-line webinar called Recruitment Market Insights. The next is in August, you can register via the link below -
Recruitment Market Insights Webinar
Don’t forget, the CIPD also have member-only support resource packed full of the latest, regularly-updated career-based learning and support to help you be successful in your job search:
