You’re probably well aware that there are fewer job openings for white collar workers than several years ago. See the Wall Street Journal 7/11/24: “A tighter job market and shrinking pay premium for switching is leading to the ‘big stay’”. Those “stays” equal fewer new openings, a trend compounded by employers reducing overall staff size.
So, is it a good time for you to change jobs? And if you are trying, what strategies work best?
Here are some tips on navigating the current situation:
First, assess your feelings:
- Ask yourself what you want in a new job: more pay, more interesting work, more variety, more chances to learn something new, a more supportive boss, more friendly office culture?
- Then assess your current job: is it ho-hum, or do I actively dislike it? Enough so I feel sick on Sunday nights?
- Am I tired and even angry about more and more work being piled on me without recognition and/or a pay raise?
- Is my workplace culture toxic, because of a demeaning boss, backstabbing colleagues, etc?
- Have I learned little or nothing new in the past several years?
2. Consider trying (or trying again) to improve your existing job situation.
- For example, talk to your manager about your too-heavy workload, and about prioritization of tasks.
- Ask for opportunities to gain new skills, and suggest one or two that you’d like to learn and how you could get these in-house.
- Make specific asks of what you would like fixed or changed, and be ready with feasible solutions that are realistic.
- Pay attention to keeping your boss apprised of contributions you are making – especially now, in the months ahead of end-of-year evaluations and raise determinations.
People rarely get fired for asking and suggesting ways the boss could accommodate them—though the boss may of course say no.
3 . Assess your situation in light of your current organization’s circumstances and prospects. Has leadership made the mistake they did in 2022 of over-hiring? Check into whether there are rumors about impending layoffs. Consider starting to look for a new job, and if you are already looking, devote more time and energy to your search.
4. Calculate the risks of looking around, putting yourself out there, applying and even interviewing. If your current boss finds out, will you get fired? The prospect frightens off many people. But if they think hard about it, most realize that people rarely get fired if they are “caught” looking. Many people are always looking a little — or are at least open to recruiters’ requests to interview. Your employer might even appreciate you more. No guarantees here — you need to evaluate her/his personality and likely reaction.
5. If you get an offer – either as a result of a job search or being found, look into the financials and reputation of the prospective new employer.
- Is the organization on sound financial footing?
- Are there any rumors of impending layoffs?
Hints: Try Glassdoor for believable complaints about the boss or section. And ask an AI platform to write you a, say, 4,000 word report on the financial situation, growth or contraction of the organization, as well as news stories that are favorable or unfavorable. (I like Perplexity AI, a platform that provides sources.)
There’s a lot to be said for applying and seeing how you fare even in this tightening job market.
But what if you’ve been applying without success?
Consider upping your job search game. If you’re not having success, check out how you are looking. For example, are you taking the trouble to tailor each application by emphasizing skills you have that the job ad says they want, and using many of the job ad’s key words? Check out JobScan.com for tips on how to do this.
Even more important: don’t over-rely on searching just on-line. Most people, I’ve found, spend 90% of their time just sending out dozens of resumes. Bad idea.
The best approach, in most fields, is to use your contacts – or contacts of your contacts. Try to spend at least 30% –preferably more!– of your time on connecting with your contacts, and contacts of their contacts.
That’s harder, but the payoff is better. If you’re reluctant to “bother” people, or don’t think you have more than a handful of contacts, use AI to ask “Describe in detail the best ways of developing and using contacts to help get a new job” – and/or get a little help from a career counselor.
Last thought:
If you’ve been trying without much success, consider that you might need to update – or acquire – one or two new skills that are currently in demand. Plenty of good performers coast a bit, especially in mid-career. They are successful at work, and they are busy outside of work. Taking an on-line course, or volunteering at work to learn a new skill isn’t high on their agendas.
But right now might be a really good time to get or improve the skill(s) that will help you get the new job and perform well from the get-go. AI skills, for example. Take a look at Coursera. For $20 you can learn a lot, often from teachers at major universities. No credit without paying more, but lots of information.
Bottom line: should you change jobs or stay put in this tougher job market?
A: Use your analytical skills to weigh the key factors described above. Then decide how to proceed. If it’s change jobs, then consider upping your job search game and adding a new skill(s) if appropriate.