“25.6 million U.S. jobs filled between February 2010 and July 2010″
“Hidden job market eludes millions of job seekers”
Did you see those 24 million “Help Wanted Ads”? Not likely! Did you also know that despite the fact that unemployment is higher than it’s been in 25 years, 2.4 million jobs unfilled last month. How is this possible? The way companies hire has dramatically changed: 95% of jobs are filled without being advertised.
Yet people are beating the odds and getting hired – some in less than half the average time of 33 weeks,
The Job Market Has Changed
For most of the twentieth century, a recession was a cyclical decline in demand—the result of excess inventory that needed to be sold off. People were temporarily laid off—inventory backlogs were reduced and demand would snap back quickly. The current “jobless recovery” is a consequence of the economy’s rapid evolution from a natural resources- and manufacturing-based economy to a knowledge-based one.
Over the past 10 years, advances in information technology have allowed companies to establish tightly integrated demand and supply chains, and outsource manufacturing and low-end service jobs to save money. Rather than furloughs, many people were let go, forcing them to switch industries, sectors, locations, or re-skill to find a new job.
Already reeling from the struggling economy, competition for the remaining jobs is tougher than ever and global competition will ensure the new rules are here to stay. Companies have become single-minded about productivity and bottom-line performance. Managers seek to hire only those persons who appear to have the most potential for helping to boost the company’s profits. For many companies, employees are now viewed as a variable cost—hence the term human capital—to remain “on the books” only as long as they continue to produce.
Understanding The Hiring Process
Jobs are temporary in the new economy—even when they’re classified “permanent”. Here’s what you need to know to win the war-on-talent:
- By extending the functionality of the same supply-chain software that lets Dell Computers hold down costs and deliver your customized PC to the recruiting function, employers have mastered “just in time hiring”. Face-to-face contact with real people has been replaced by automated on-line job applications – all but taking the “human” out of Human Resources.
- Recruiters who know how to use search engines like Google to comb through social media sites are now selectively approaching just those candidates they deem qualified without having to advertise – unless it’s a last resort.
- When employers they have to deal with an avalanche of resumes – each of which they are legally required to track and reply to – hiring slows to a crawl. So it’s faster NOT to advertise.
You Must Change Your Strategy
Because employers are selectively targeting candidates you have to adjust your tactics. Today you need to be more proactive too so you:
- can be found by hiring managers and/or recruiters exactly when they’re looking for someone with your skills and experience, &
- can adapt the same micro-targeting tactics to target employers – irrespective of an advertised opening.
To thrive in this environment, you need to rethink your approach. This site is designed to help you become proactive. Read, listen and watch the tutorials on the site and take charge of your career and your life.
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