We have reached the halfway point for 2020, which may be the strangest year of my life. Your’s too, most likely. Working through the challenges presented by Covid-19 is certainly remarkable. Few if anyone I know, has ever experienced a pandemic of this nature or the measures required to moderate its spread. And then, the follow-on weeks of civil unrest. Yes, this year has been surreal.
The sudden transition from a booming economy to a voluntary lockdown has been jarring. Overnight, we have gone from historically low to depression-level unemployment. The relief provided by the Federal Government is unprecedented. It has helped employers and employees survive the lockdown. To some extent, however, it may have been counterproductive as minimum wage earners lack the incentive to return to work before their benefits expire. Nevertheless, many furloughed at the beginning of ‘shelter in place,’ lost their jobs as employers face the realities of survival. Some of these people have reached out to me for help.
The underlying structure of the economy is still intact.
Even though many jobs are gone, at least temporarily, the underlying structure of the economy is still intact. This has not been a traditional recession where a bubble in the economy collapses. It is closer to a natural disaster save for the destruction of infrastructure. The manufacturing, supply chain, logistics network has suffered a minimal impact. The financial services sector has fared well. The Service Sector has been hardest hit as the need for social distancing directly impacts their business model. By design, the Service Sector is based on close personal contact. Even so, the road back to prosperity has not been closed. The level of employment is rapidly improving. There is a reason for guarded optimism.
My neighbor is a good case study. He was furloughed from a senior-level construction and development position for a major restaurant brand. By the end of the lockdown, his position was eliminated as his employer decided to reduce their development plans for 2020.
The good news is that he is a licensed Architect. He has other options. In fact, he has landed freelance work with architectural firms. Additionally, he has found that positions, like the one he lost, are available locally.
I have received a significant uptick in calls from job seekers requiring help. A few have not had to look for a job for many years and want to understand the changes in the recruiting and selection process. Others are looking to become more competitive by improving their job search skills, resume, and other collateral material. Most find the process confusing. They seek clarity and direction.
Questions for The Job Seeker:
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- How is Your Situational awareness?
- Are you savvy about the labor market dynamics?
- Do you have a full appreciation for your options?
- Do you understand the needs of your audience, employer risk?
- Do you think and behave like a brand? Be the product/brand!
- How are your communication skills?
- Do you understand how to navigate interview traps and pitfalls?
Situational Awareness:
The first step in the job search process is to gain situational awareness. Job seekers face a dynamic market, especially for senior management. Employers are working mightily to remain relevant. They face intense pressure from traditional and disruptive competition. Even the strongest brands can become distracted by mergers, acquisitions, downsizing, right-sizing, productivity improvement initiatives, etc. The newest challenge is, of course, a heightened concern for employers’ ability to survive the devastating impact of the pandemic driven lock-down. Brands must not only survive the lock-down, they must learn to thrive in an environment requiring a greater focus on sanitation and hygiene. They are forced to adapt, in real-time, as humanity suffers the first wave of the Covid-19 pandemic. Employers have cause to substitute technology for human capital. Many companies will never reopen. This is not all bad. Successful companies will become stronger, increasing demand for employees.
Conclusions and Recommendations:
What is your evaluation of the situation? Are you working in an industry sector more, or less impacted by the virus? Are your skills still in demand? Do you need new skills or a tune-up? What opportunities have been revealed? How should you adjust your strategy? Relevancy is a fundamental issue for job seekers. If you need help, seek out professionals who understand the situation. Remember, you are the product. Be the product! You must adjust and adapt to the “Latest New Normal.”
I will explore the remainder of these challenges in the next few weeks.
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