Position Yourself to Earn the Rewards of the Current Market
There were two interesting things “people are talking about now” on LinkedIn yesterday: big employers boost hiring and pay rises at fastest pace in a decade. These both can be very promising for anyone currently looking for a position but can also make the entire process tougher. Let’s dive deeper into each.
The posts about big employers boosting hiring talked about how large employers, those with 500 or more employees, are outbidding small businesses in the tight labor market. This tends to be the case in hiring as large companies have more resources and money to be able to give new employees. Small businesses often times have to be more creative in the perks they can give current or new employees while large companies are the ones who can have more room to throw money on the front end.
The second post highlights that private sector salaries and wages jumped 3.1% from this time last year which hints that employees are gaining leverage in the tight market. Companies are currently paying more than they have to be able to get the skillsets they need, and the employees with the most skills are able to ask for more than they previously have.
So how can this make the job search process tougher and what can you do to make sure you are seeing these pay increases? While companies are more willing to pay more, they are not wanting to pay more for the same skillset they previously hired. Companies want to pay more for a skillset that is also more than what they have previously had. Since the job market is already as tight as it is, you have to demonstrate why you are worth the higher pay.
Continuing education, certifications, volunteer work, etc. can all be things to help put you over the top depending on the position you hope to land. I recently hired for a high level supply chain position and one of the requirements was to have a professional supply chain certification (CSCP, CPIM, ISM, etc.). These type of certifications and qualifications show a commitment to the field and the desire to want to continue to further your knowledge in the field. If you are hoping to land a non-profit position, volunteer work can be very beneficial in doing so. From my experience, non-profits love to see other non-profit experience in a candidate and volunteering is a great way to give back, gain experience on your time, and gives you the ability to network with those currently in the industry.
The current job market is tough and becomes even tougher when your experience and resume looks like 50 other candidates who have applied. Make sure you are doing things on your time and that make sense in your industry that can help put you over the top. As the data shows, there are higher wages and more opportunities in this tough market, you just have to make sure you position yourself to reap the rewards that are there.