How to Compete in a Hot Job Market
Kent R.
We’ve been getting a lot of great questions from listeners – many of whom are recognizing the rare “employee market” that were experiencing and want tips on how to navigate this new landscape and seize the moment.
So, we’ve switched things up so that we can directly respond to these great questions. And we're starting with something that's on a lot of people's minds these days, “What are some things I can do to be successful in the hot job market?”
TRANSCRIPT
(Transcripts are auto-generated and may contain minor errors)
Caanan
We're doing something different on this season of the Stop Hating Mondays podcast.
We've been getting a lot of great questions from listeners, many of whom are recognizing the rare employee market that we're experiencing and want tips on how to navigate this new landscape and seize the moment.
So, we've switched things up so that we can directly respond to these great questions.
Let's get to it.
Caanan
Here's a question from Carla, who has something that is on a lot of people's minds right now.
Kent
OK.
Caanan
She asks, “what are some things I can do to be successful in the hot job market?”
Kent
Yeah, that's a good question. One we get a lot. And I first want to pick up on something you said in the intro when you said a rare employee market and these are always the best markets because – while the organization of the company will always have the advantage, no matter what we think – when we're in these times of sort of struggle to find employees, it puts s little more leverage in the hands of the candidates and this is always an exciting time for us to be on either side of the table – working with individuals and helping companies because companies really have to dig deep and bring their best and potential employees get excited because there's more opportunities out there and they have hope to get that great job they've wanted or to take that next big step.
And now I'm going to tell you why Carla's question drives me crazy.
Caanan
Oh, this is the good stuff.
Kent
Ah, this always happens there, there's always A sense of urgency, yeah, and this happens across peoples’ lives. Where you kind of avoid something or you put it off or you don't do it, and then something comes up like, in this case, a great employee market, and suddenly I'm all prepared to get that great job or to take that next big step.
But I haven't done any of the work.
Caanan
So, I'm ready for the job, but I'm not prepared.
Kent
Yeah, and it's really kind of sad in these situations because so many people we work with have so much of the experience and education and talent to go to that next level. But you can't compress the kind of preparedness you need into this super short amount of time in which people usually want to act.
You know it's usually prompted by, “my buddy sent me this job requisitions, I want to apply for it Monday” or something like that and, you know, because it's a great market for candidates, tons of people are going to be applying. So you really want to bring the best of your best and not just in the whole point in Carla asking that question.
What are some things I can do to be successful in the job market she doesn't want to just want to blend in with the masses, she wants to stand out and plain and simple.
I'll say our advice for a hot job market is the same advice we have for any market which is, well, you've always got to be keeping everything up to date. So, assuming – like with Carla who we got in touch with – things aren't up to date.
Well, take the time to get all your job search documents up to date in the right way. Do not scramble and put together subpar stuff.
Caanan
No, you do not want to be acting out of a sense of desperation when the whole idea is there's this great opportunity you don't want to foul that up. Yeah, with this desperation mindset, and do a halfway job just because you're trying to, you know, grab the brass ring.
Kent
Yeah, and people not being in this realm often. They'll put undue pressure on this situation as well, so we get a lot of, on a Wednesday “this job was posted Monday. I need to apply within a week” you know. And clearly – I mean in some cases it's not only a good idea, but it's important to apply quickly – but in most cases a search is going to remain open for a certain period of time. So don't place this this odd pressure on yourself. Yeah, and unless you see an actual closing date, “submissions accepted through,” don't put more pressure on yourself than there already is.
So, on this topic of our advice for a hot job market – is the same as our advice for any job market – would be keeping everything up to date.
As I said, having a resume that speaks to the impact you've made across your career.
You know that we get into that a lot on the website and in this podcast.
With that, being able to speak to the impact you can make at the organization you're applying to.
And both of those last two things require an ability to be punchy, succinct to the point. And for that, I would recommend people go back and listen to the podcasts we did on telling your story, where we get into exactly the kinds of things that you should be saying and how to address frankly interview questions, how to position what you say in such a way that it's the most compelling and therefore hopefully causes you to rise to the top.
Caanan
Which is the goal.
Caanan
Following up on that response, I want to ask, is there anything specific one needs to do if they're looking to move from one job to another, as opposed to returning to the workforce.
A lot of people have been let go because of COVID, and now they're returning to the workforce.
But a lot of people are meeting the new employee market and they're seeing an opportunity to finally get the job they really want.
Kent
Yeah, we know we've been in touch with so many people who are just saying “hey, now is my chance. I'm gonna leave this great job and go to another great job 'cause there's more opportunity there” and I'm sure you listeners have been reading in the news. You know, it said that it's kind of an astronomical percentage of people who are just deciding to leave their current jobs. Many of them are, I think, are taking a little time off, but many people are just looking for another opportunity.
Caanan
I'll just jump in and say that I think I read that 3/4 of all employed people in the United States are at least considering moving from their current position.
Kent
It's a big deal.
Caanan
It's remarkable.
Kent
And we're already seeing the kind of missteps that people are making here, so I'm glad you kind of pulled out this or pulled together this question, which is again something we get asked all the time and what we see on the other side of the table… is a bit of overconfidence in this situation.
We are going to be rumor truthtellers. And the truth telling here is “yes”, you actually are in most cases at an advantage when you're currently employed and you're looking elsewhere. That's attractive for most potential employers, because starting in the early stages of the screening process, there's this idea of “so we've got this hot person who's currently working at X.” For the most part, it puts you in an advantageous position.
Unfortunately, going back to your initial question from Carla, what can I do to be prepared for this hot market?
People who are currently employed have even less motivation than Carla had, so they come in with sort of a well, “I don't have anything to lose. I already have a great job.” Well then, I said, well, why are you doing this? Right? Like, if you're not going to come in and bring your best and be prepared to speak to the impact you've had… Remember these three things: the impact you've had, the impact you can make on the company you're interviewing for, and finally doing all of that succinctly.
You're not going to be able to do that in this situation, then there's no sense in even applying. So, this kind of idea we always kind of get a kick out of it and people say “we'll have nothing to lose.” Well, you may have nothing to lose, but that doesn't mean you shouldn't put any effort in.
Caanan
Yes, and just because it's an employee market, it doesn't mean you don't need to be competitive.
It's not an easy market, it's just more advantageous. So, you need to be prepared to compete in the very ways that you just said.
Kent
Yeah, and preparation is kind of the theme that's come up in this podcast and I'll just double down and say this market we're in right now – this beautiful time where the candidate, you, have more leverage – this is why you always need to have your job search documents up to date. You need to know all about yourself, what you bring your strengths, your talents, so that when these great moments like we're living in now from an employment standpoint, you're ready to say “now is my time and I can just press the GO button” and not like Carla be in panic mode. And have, you know, have a good body of work to do to be a viable candidate?
Caanan
Well, what is it. The thing that I'm going to attribute to Oprah, but she's probably heard it from somebody else… “Good luck is where opportunity and preparation meet.”
Well, the opportunity is showing up and if you want to be lucky in this employee market, you need to be prepared.
Kent
Well said.
Caanan
So, let's take one more question here.
Uh, here's a good one.
What is one tip you can give that everyone, regardless of their situation, can do to take advantage of the hot job market?
Just one tip.
Kent
Yeah, I like that. And I think in sticking with our theme… I say with all this exciting static around all the possibilities out there. Just update your job search documents.
Caanan
Yeah, it's really that simple, isn't it?
Kent
Yeah, even if you're not going to do a whizbang job on all your historic jobs, just update your current job. Go into LinkedIn and update your current job. Do something. And I think doing that will inspire you to go, “Oh, you know what I can do this.”
I really want to put myself out there in the best way possible and do a great job.
Caanan
You know what it comes down to.
You just said it.
Do something.
Kent
Do something. Yeah, another common the change laboratory theme.
