Are You Ready for a Recession?

I was hired in 2008 as a recruiter, for a national staffing agency. Our major client was an enteprise Fortune 500 organization.   I had no idea what I was doing, and I remember my very first search was for a Teradata Data Warehouse Solutions Architect.  Sounds easy, right? Tera-what?!  I thought THAT was my biggest hurdle, the actual understanding of the roles. 

I was very wrong. 

Two weeks after I was hired, the economy crashed.  I remember the day when Lehman Brothers went under and the stock market took a nose-dive.  Our CEO looked like a deer in headlights the entire week.

The ample hiring environment that I had walked into crashed.  The layoffs began.  I had so many candidates and not enough job orders to place them in. Job fairs started to be lines out the door, hundreds of resumes, and stories of working for organizations for 20+ years and being walked out with no explanation.  

It was heartbreaking.  As a recruiter, you want to place everyone. Find everyone that dream job.     

With the economy the way it was, hiring turned into Hunger Games.  We had too many candidates for every position. 

I say this because we currently have rose colored glasses on.  Our economy has been strong.  Unemployment has been low.  But it appears that the end is near.  We are nearing the bubble burst and are we ready?  Are you ready?

Currently, our hiring environment is lack of skills in the candidate market.  Jobs going unfilled because candidates do not have the education or training to fulfill the roles.  Do a quick Indeed job search for “engineer” to see what I am talking about.   Here, I will do it for you…

So what happens when the bubble bursts. Layoffs and consolidations become inevitable. 

Unemployment begins to increase.  Jobs start to become even more specialized and the hunger games mentality of competition rears its ugly head again. 

YOU HAD BETTER BE READY! 

So how do you become ready for the possibility of unemployment?

UPDATE YOUR RESUME.  That resume of yours had better be ready for prime time.   

  • Start to log your accomplishments and technologies you use.   
  • Create a strong professional summary with loads of keywords and accomplishments so your resume is easy to pick out of the bunch. 
  • Create an executive summary (one page) resume and a longer detailed version.

UPSKILL.  Consider taking a class to upskill on technology prevalent in your industry.  Consider taking a coding class! Coding and software development are already in critical need – imagine when jobs are less plentiful!  Wouldn’t hurt to start to learn a new skill! Linkedin Learning offers great courses to get you started.

NETWORK.  Dust off those Linkedin and networking skills. Start to grow your network in your chosen industry. Start to get involved in conversations and become a needed resource in your industry.  Don’t stand by and watch those around you own the conversation – start it yourself!  Take time to reconnect with your network – the job market will be all who you know.  Reconnect and schedule some coffee dates to reconnect! 

CLEAN UP SOCIAL MEDIA.  Has it been awhile since you have been in a job search?  Heads up, social media is sometimes reviewed during the interview process.  Create private accounts or clean up what you would not want a new employer to see.  You are judged during an interview process, it’s the nature of the beast.  I am not saying it’s a great policy to review a candidate social media but be prepared for it. 

KEEP CURRENT.  Licenses, certifications, and clearances – keep them current and active! You never know when you will need that lapsed government clearance or certification for that hard to fill position. It will leap you above all the rest! 

It took about four years before the job market started to really bounce back.  In 2012, companies started to invest in hiring in larger quantities again.  We have been in a great market now for years.  But let’s not forget where we were only 11 short years ago. 

Be prepared this time. 

At DNP Talent we provide candidate services such as resume and linkedin profile assessment/edits.  We also provide candidate counseling about interviewing, applying and social media profiles.   

Message us Dina@dnptalent.com for more information!