Surviving the Credit Crunch

As the pessimists, depressive promoters and bearers of bad news further a credit crunch and recession of ëunprecedentedí proportions, the uncertainty of the job market continues to be heightened. With it, employeeís fears over job security as well as those individuals considering a change of career, either forced or through choice, are become increasingly challenged. Similarly, businesses that are considering recruiting or rationalizing their workforce are evermore hesitant due, in the main, to the tune of ìis this the right time to recruit?î

Whether you are an employee or job seeker, enclosed is advice to assist with the current market conditions and hopefully further throughout your career. A fundamental message throughout this article is that you understand the value of your abilities and skills and remain in control of your personal development and career, and also that your employer / prospective employer/s can evidence your capabilities. From a business perspective the detail within will assist in ensuring you retain the staff you want, promote a secure and positive environment, maximise your staffís abilities and when recruiting, manage a cost effective recruitment campaign that with benefit and reward your business over time.

Maximising career opportunities, job security, career development and control:

Whether you feel your current employer is affected by the economic downturn or not, it is necessary that you safeguard yourself from any potential negative changes, maximise opportunities to develop your skills and gain control of your career. As crude as it may sound, you are a commodity and need to make sure that when necessary, you are the best product available on the market. At a time when organisations will think long and hard in respect of headcount growth and often only recruit when business critical, the opportunity to pragmatically drive your career, gain exposure to new skills and position yourself as a fundamental part of your business has never been greater.

Understanding your skills, capabilities and market value is critical throughout your career. Having a up to date resume prepared will help you realize how effectively you are developing towards your desired career goals. Make clear objectives related to your job, both in terms of the tangible development of skills and financial rewards gained. With all your roles you should be able to list skills, responsibilities and achievements, specific points that illustrate the value you add. With each period of time you should be able to demonstrate development in your career and where you have increased your talents. If you canít see a narrative of development in your career to date, then start taking control now. Effective Career Development.

With a little thought, you may be surprised at the extent of your transferable experience and the potential opportunities that are open to you. Having constructive dialogue with your employer to explore utilising other skills or taking on further responsibilities will help you develop the necessary skills to advance, increase your market value and give you increased job security. Identify ways to contribute productively to your company, explore other ways in which you can add value. In the short term, you may not receive financial rewards for this increase in responsibility, but over a period of time you will be positioned to explore financial rewards or progress elsewhere into a more senior opportunity. Pay Rises.

Strategic Job Hunting - Understanding your options

More than ever, identifying new career opportunities requires a more strategic approach and the key to your success is an awareness of your skills, abilities and ensuring you are marketed effectively. There are a number of ways to approach job hunting, none individually are advised. Job boards, networking and more commonly Recruitment Consultancies are traditionally the most common and effective of approaches. When working with Recruitment Agencies, donít assume registering with all of them is a good thing. Be clear with the Consultancies you work with, be very structured in your job search and consider what you want and take advice on the opportunities open to you.

If you have taken a pragmatic approach already and positioned yourself accordingly in order to gain a greater skill set or to gain exposure to more senior responsibilities, your resume will need only to be tailored to illustrate the benefits you would add to any business. If you have yet to clearly define your experience and identify opportunities of interest, you will need to construct a strong resume. In the current market, illustrating the real value you can add to a company, your commitment and desire to develop your career will go a long way in progressing your application. Creating a CV.

When assessing an applicantís suitability, prospective employers and agencies will make a decision based on the content of the CV. Therefore resumes need to be tailored accordingly for each individual application, clearly outlining the relevant skills for any given opportunity. A mistake many job seekers make is to construct a generic resume and forward this hoping that the varied content will gain some interest. If an employer has specific experience requirements that are essential to the job, this must be prevalent and highlighted in your resume.

Interviews arenít often an applicantís forte and confidence is short on the ground, especially if you are out of work. But failure in interview is often through lack of preparation and fully understanding companiesí vacancy and environment. Research the business you are meeting. Recruitment Consultancies working with you should assist with this and provide further detail often not available from generic websites etc. Preparing for an interview. Psychometric Testing. Presentations. It is important before an interview to think about all the reasons why you are attending and what you have to offer the organisation. The more prepared you are, the more comfortable and confident you will feel.

Employers - Redundancy, Rationalization, Recruitment and Retention:

Unfortunately, even businesses who are financially unaffected by the current market conditions will allow the ëtidal waveí of over negative doom and gloom, cause uncertainty in relation to growth and recruitment. When looking at your organisation, have you been significantly affected? Do you really need to be concerned and reluctant to promote confidence in your business? It will be the businesses with single minded and long term objectives who continue driving growth that will maximise market share. And it is their successes over the coming months that will lead a positive revolt and resurgence of economic growth. It is a time of tremendous opportunity, with quality candidates in greater supply and less competition to acquire them. The message is clear, assess if your business strategy has been affected and if there is potential to capitalize on competitor hesitance. With so much negativity, businesses are in danger of being sucked in to a downturn and stagnation that they neednít.

In circumstances where redundancy is the only option, consider your business reputation and how to manage the redundancy message within your organisation and externally. Consider your remaining staff. In a market of uncertainty, the appeal of organisations promoting a message of strength and stability will be attractive. Successful businesses are built by retaining the best staff. Identify yours. Retention doesnít have to just involve financial rewards, consider an individualís motivations in the short and long term. Maximise their abilities, reaffirm your company culture and objectives and that they are a vital part of its future. In maximising an employees abilities, much of the work they are able to undertake will negate the need for you to recruit, so you can financially assess the further work undertaken by your staff and reward accordingly. Many Recruitment Consultancies offer specific support and advice to businesses in respect of staff evaluation, maximisation and redundancy. Redundancy Support. Qualifying a Need to Recruit.

More than ever when recruiting it is paramount that your recruitment process is professional and clearly defined. Fully understand your business needs and be aware of the realistic ability to source the skills you require within your budget. Consider your business profile. Promote yourself as an employer of choice, who offers career development and job security. Not just a short term opportunity until something better comes along or the market picks up. Creating a job specification

For further information on any aspect of this article or to discuss your career and job search, to discuss potential changes in your business, to gain assistance in evaluating your staff, please contact us directly on 01565 624 260.