Market Realities for Executives In Transition
Conducting a Management Level Job Search?
How Does Today’s Executive Job Search Process Differ?
It’s no secret that jobs exist to create value for the organization paying the salaries, bonuses and commissions. If the work being done falls in value, the jobs that perform the work will go away. If employees cease to produce profits or savings value, they will get replaced. In this age of rapid technological advances and worldwide commerce, the cycles of employment move much faster than they did, say, 25 years ago. So, what do today's market realities mean to you now as you face the job search process? What are your best options?
Did You See the Change Coming? What's Really in Store for Your (Previous) Industry?
One thing for certain: you want to consider carefully the future prospects for jobs like the one you’ve been performing for some number of years as well as for companies in the same industry. Maybe this is a good time to alter the course of your career and catch a rising star instead of seeking employment in the same old industry. Being in transition today could be a blessing in disguise. But, only if you recognize today's market realities and prepare yourself accordingly.
Today's Market Realities Say The Odds Are Against You Finding a Ready-made Job.
As a senior executive or manager in search of a new position, you have a number of proven job search options. Possibly not as many as you would like, but maybe more than you realize. Today’s market realities may lead you to job listings on the internet. There's always a chance that you will get tapped by a headhunter or have your resume hit the jackpot on the internet job search engine "roulette wheel." Or, you may overhear the person sitting next to you at a meeting talking to her HR Director about requirements for a position they're trying to fill. If this sounds like blind luck, it probably is. But you can always hope.
Hope Is Neither a Sound Marketing Strategy Nor a Real Job Search Option!
But, hope isn't a sound strategy. There are things you can do that will put you squarely in the path of good luck and increase your odds of winning in the face of today's market realities. Real things that can change your life as well. It's all part of conducting a real, first-class Executive Job Search. But, before you can embark on the process, you need to fully understand your options as an executive in transition. You must accept and understand that the odds are against you finding a ready-made job the easy way. So how do you begin given today's market realities?
Looking For an Easy Answer?
There are people who will "promise you an answer" . . . for a price! You can of course always pay one of the high-priced, executive packaging firms several thousand dollars to “pamper” you through the resume preparation process and supposedly help launch you on your job search adventure. (If you’re considering this, be sure to check the company out thoroughly. Unfortunately, one of the market realities is that many executive packaging firms are total rip-offs.) Before you pay anyone anything, you might want to review what you will find here for free versus what they might be charging you big bucks for. With outplacement assistance a fading reality for most, and newspapers – and their employment advertisements -- going out of business, you are probably thinking the internet is your best bet. But you know – or, at least, you should know – that the real executive positions aren’t advertised. They are part of “the hidden job market.” Penetrating the hidden job market and finding one of these jobs is what the real Executive Job Search Process has always required -- and what this website is all about.
Tap Into the “Hidden Job Market” Where the Real Opportunities Lie.
Perhaps the single most important factor in the success (or lack of it) in landing a great new job has always been the personal referral. In today’s market it is still who you know. That’s right, a referral from someone you know is still the best of all the job search options. Who you know – or rather who knows you – is critical to finding the best job more quickly. Today's market realities suggest that your networking and social skills are more important than your professional or vocational training. Something like 75-80% of all executive-level positions are not advertised. Some of the very best jobs are still held by people who are underperforming and soon to be replaced . . . but, no one knows except the CEO and one or two others in the organization. Why? There are many reasons not to advertise high-level jobs.
Many Jobs At The Management Level Simply Can’t Be Advertised.
Most of these openings are kept confidential for a number of reasons. Maybe they can’t be advertised without tipping off the people in the company or department that a change is in the wind. Perhaps management doesn’t want to alert competitors or worry stockholders. Search firms are hired to find candidates for these positions, but the reality is that these hidden jobs often get filled as the result of someone making a referral directly to the executive making the hiring decision.
So, where do these referrals come from? They probably come through second and third-generation recommendations as often as through direct acquaintances or associates. They may come from corporate attorneys or accountants or board members. In other words, someone you know encounters an associate of theirs who is looking for someone with your skills or experience.
A new area of interest has developed around so-called "green jobs." We devote a whole section to these jobs, and have added a "Resource List" with specific recommendations and suggestions -- you'll find links to both of these pages at the bottom of this page. As far as green jobs are concerned they are almost impossible to find or get without personal referrals.
These are today's market realities for managers and executives. To make the referral process work faster for you, we're going to take a couple of steps out of that classic "six degrees of separation" and show you how to get where you need to be more quickly.
Develop Opportunities with Good, Strategic Referrals.
Any referral you receive is only as good as the relationship and reputation or standing of the person making the referral on your behalf. If they are in a position of authority with the company they are referring you to, great. If you have been especially helpful to them in some way, their “recommendation” is delivered with enthusiasm and conviction, thus carrying more weight. The result is that you not only get a referral, it comes with an endorsement that enhances your credibility before you even meet with the prospective employer. Think about that. This option sure beats answering an ad or showing up at a job fair, hat in hand and competing with hundreds of other people for a job. Why would you want to do it that way . . . especially since you don’t have to?
How Do You Generate Referrals From Scratch?
What we recommend, as a parallel first step in the Executive Job Search Process, is that you begin building the foundation of a matrix or a “mind map” of your direct contacts . . . both those that are real right now and those that you will acquire. We show you how in detail in the Networking section of this website. This is the foundation on which you will build the secondary and tertiary levels of contacts that will open doors for you that you might never have dreamed possible.But, before you head there, remember that you must be building your Accomplishments Library, your Resume Ensemble and your Interviewing Skills at the same time . . . each step in this course will give you more to offer to your referral network. Yes, it will take time to build your value – but along the way you will discover that you are worth more than you might have thought! And one of our jobs here is to help you discover just how important and valuable you really are. Maybe that's the real core of our mission here. Are you up for the process?
For more detail on the realities of today's market...
Your Personal Job Search Strategy
Answering Employment Ads in Today's Market
Keeping Current on Industry Developments
"Green" Job Opportunities
Green Jobs Resource List
Building Your Job Search Team
Return from Today's Market Realities to Job Search Training home page.
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