Are you selling your skills at a discount in today’s labor market?
That might be the right strategy because companies are bargain hunting for talent in these days of 8 percent unemployment, says New York employment consultant Nancy Halpern.
She’s one of many in the Public Insight Network who responded to Marketplace’s questions about layoffs. Did you hold one of the 4.4 million jobs the economy has shed since late 2007? Are you a boss who’s deciding which jobs to cut, or a co-worker feeling job survival guilt? Maybe you’re an expert, like Halpern, who advises companies and individuals about that next hiring decision.
She tells Marketplace reporter Jeremy Hobson that much of today’s common job-hunting advice is outdated:
Companies never looked at talent this way before, as if it were on sale. Before, they were focused on paying market rate and being competitive to attract talent - that has completely changed.
Holding out for your dream job might be the wrong tactic today, she says. Applicants are taking posts a few rungs below their past pay and stature because it’s better than not being on the employment ladder at all.
Flexibility is key in this employer’s market. If you’re negotiating a job contract, she says it’s better to forego a bonus in favor of a higher base salary. Think about returning to a former employer. If you’re faced with layoff, try to get your employer to give you a part time contract or a short retainer to finish certain projects to tide you over while you start your job search.
Finally, she says that while networking is important, start with people you know fairly well.
I have a client at a major publishing house who complained about the number of ‘networking’ calls she is getting over the past few months. She doesn’t want to
‘have coffee’ with all these near strangers, yet feels guilty if she doesn’t. It’s absurd to push at people who hardly know you.
Instead, she says, get a few quality referrals and try to grow quality right now, not quantity.
Click here to add your insights about layoffs or social networking for new jobs.
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