By : James E. Challenger
Heavy year-end downsizing virtually ensures that more Americans will find themselves involuntarily reentering the job market. The time it takes to find a new position, along with frustration levels, are rising to new highs.
Downsizing is expected to continue through the first half of 2009, as measures to solve the financial crisis take time to work their way through the economy. Even if the ‘fixes’ work, it could take several more months for consumers and corporate America to regain confidence and begin spending again.
Meanwhile, as the slowing economy forces employers to shed workers and put the brakes on new hiring, jobseekers are likely to see their searches lengthen even further.
The median job search for those who were hired in the third quarter lasted nearly 4.4 months, according to the Challenger Job Market Index. That was up from a median job search of 3.5 months among second-quarter job winners. The findings are based on a quarterly survey of approximately 3000 jobseekers in a wide variety of industries nationwide.
What began in the housing market, and quickly spread to the financial market, is now rippling throughout the entire economy. There is a lot of frustration on the part of jobseekers who see this downturn as being caused by the bad decisions of a couple of industries.
However, it is important for jobseekers to understand that even amid the slowdown there is a need for organizations to continue hiring to build bench strength, as well as replace employees who leave or retire. Companies must also continue to recruit knowing that any future economic expansion will likely bring the return of labor shortages.
The key to finding a job in a downturn is to be aggressive. Simply posting resumes on Internet job sites and answering classified ads rarely work, even in a good job market. These activities are even less effective in a weak job market.
Under current conditions, it is critical that jobseekers expand their job search net by considering a wide variety of industries, companies and cities. Do not rule out companies that are struggling, as they are looking for talented individuals who can help turn around the business.
It is also critical to aggressively build and mine one’s professional and social networks. Let everyone know that you are seeking a position. When more people know, the greater your chances of hearing about new opportunities, meeting the right people and getting a foot in the door.
Job Vacancy , Indonesia Job , Job Indonesia
Heavy year-end downsizing virtually ensures that more Americans will find themselves involuntarily reentering the job market. The time it takes to find a new position, along with frustration levels, are rising to new highs.
Downsizing is expected to continue through the first half of 2009, as measures to solve the financial crisis take time to work their way through the economy. Even if the ‘fixes’ work, it could take several more months for consumers and corporate America to regain confidence and begin spending again.
Meanwhile, as the slowing economy forces employers to shed workers and put the brakes on new hiring, jobseekers are likely to see their searches lengthen even further.
The median job search for those who were hired in the third quarter lasted nearly 4.4 months, according to the Challenger Job Market Index. That was up from a median job search of 3.5 months among second-quarter job winners. The findings are based on a quarterly survey of approximately 3000 jobseekers in a wide variety of industries nationwide.
What began in the housing market, and quickly spread to the financial market, is now rippling throughout the entire economy. There is a lot of frustration on the part of jobseekers who see this downturn as being caused by the bad decisions of a couple of industries.
However, it is important for jobseekers to understand that even amid the slowdown there is a need for organizations to continue hiring to build bench strength, as well as replace employees who leave or retire. Companies must also continue to recruit knowing that any future economic expansion will likely bring the return of labor shortages.
The key to finding a job in a downturn is to be aggressive. Simply posting resumes on Internet job sites and answering classified ads rarely work, even in a good job market. These activities are even less effective in a weak job market.
Under current conditions, it is critical that jobseekers expand their job search net by considering a wide variety of industries, companies and cities. Do not rule out companies that are struggling, as they are looking for talented individuals who can help turn around the business.
It is also critical to aggressively build and mine one’s professional and social networks. Let everyone know that you are seeking a position. When more people know, the greater your chances of hearing about new opportunities, meeting the right people and getting a foot in the door.
Job Vacancy , Indonesia Job , Job Indonesia
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