Byrne’s Eye View
Laurie Byrne, Founder of Honor Roll Online, shares her latest views on the ever-changing landscape of college recruiting.
Finding a Job in Tough Economic Conditions
You have grown up in a time of unprecedented prosperity in our country, and you have participated in an educational system that did not alert you to a sudden downturn in the economy or prepare you for a dramatic decline in the U.S job market. What do you do now?
Here are some tips for finding a job during tough economic times:
- Look for companies who are in an industry that has a good or great chance of survival. Take the time to study the industries which have survived and even thrived during tough economic times. Some industries are borne out of frivolity, some out of necessity. Pick the latter. We have fundamental needs; food, healthcare, basic shelter. Long-term sucessful businesses in these industries are more likely to have an extended,steady record of growth. Industries which cater to "wants", trends or recreation will suffer first.
- When big business tightens its' belt, all those who depend on them for support will suffer. Even if you think your position at a non-profit organization will not be affected, it may rely on donations from businesses or the generosity of others in order to function. When this money is not available, these doors may close. If you have secured a position, keep a close watch on the financials to make sure it is sound and prepare for alternatives.
- Go after the job you want with respectful fervor! Networking your way to a job was the number 1 way to land it when your parents' generation graduated from college. You, on the other hand, may have prepared yourself to "get recruited". Those days may be coming to an end for the foreseeable future. Target a company, find people who work at that company and ask for their help or a recommendation. Attend presentations, informational sessions, company-sponsored product demonstrations or charity events. You may wish to ask your parents to introduce you to their friends who may have connections. These experienced professionals most likely are at a high level and could be very influential in getting your name and resume to the right person and even getting you the interview.
- The first thing some companies will do when facing a turbulent economy or an uncertain future is to implement a "hiring freeze". This is a temporary "freeze" or suspension placed on filling all open or planned positions for a period of time. This is what is happening (or about to happen) at many companies over the next few months. Bad news, but what you should know is that most every company will have a number of critical positions they must fill in order to keep business going and are reluctant to "freeze". The first of these is sales, as sales are the life-blood of most every business. If you have never thought of sales, it might be a good time to start. Many industries have a sales force that serves their customers as more of a consultant and product expert. Do not think of sales as cold-calls, door-to-door, beating the pavement. Sales can be a consultative, educational, fulfilling and lucrative career. It's all dependent upon the product, the company, the training, the industry and you.
- Most companies who may be under a hiring "freeze" but wish to stay active in the hiring market will continue to recruit for interns; these positions fall into the job category of "temporary"- a very important distinction. Temporary employees do not receive healthcare, pension or life insurance benefits, which add significant cost to the company, so they will continue to hire for these positions to fulfill their workload. Offer to take a paid internship with the understanding that when the freeze is lifted, your superior performance will be rewarded with an offer and upgrade to a full-time position.
The economy today is forcing you to become flexible and open-minded about the roles you take. Resourcefulness will be rewarded both now and in the future. Today, it takes more than brains and talent; it takes perseverance, tenacity and energy to land a job with a great future.