Contemplating a job search? But perhaps you have had a hard time diving in? Well, prepare yourself for some serious motivation…
You’ve probably heard some buzz about the U.S. Bureau of Labor Statistics’ January 2018 jobs report over the last few days. Perhaps about how it was so positive that the stock market fell significantly? (While that may seem counterintuitive, there’s a reason: the report was so good that employers anticipate paying higher wages—resulting in reduced profitability.)
But what does this news mean for your job search? A lot. If you’re considering a job change, 2018 bodes very well:
- Our economy added 200,000 jobs, beating economists’ expectations by more than 10%.
- The unemployment rate held steady at 4.1%.
- Wage growth continued through January for a rise of 2.9% over the preceding year. That’s the fastest annual wage growth in nine years and follows years of stagnancy.
Economist Joseph Brusuelas — speaking to CNN Money — predicted that 2018 will be “the tightest labor market in over a generation.”
Employers will likely experience increased staff turnover, seek to hire candidates faster, and offer more competitive compensation packages. While that sounds great, it also means that—more than ever—candidates need to have all their ducks in a row. In other words, when you flip the switch of your job search “on,” be prepared to dive right into an opportunity.
If you are contemplating a job search, it’s time to review your checklist:
Resume: Avoid trying to include everything you’ve accomplished during your career in your resume, and refrain from focusing on detail that doesn’t do anything to set you apart. If it’s not compelling or part of your high-level career narrative, don’t include it. Instead, focus on conveying your top three to five accomplishments in each position you’ve held to demonstrate your value.
Interview Preparation: Hiring managers will know whether you’ve invested the time to prepare for your interview. That means having articulate responses to a variety of potential interview questions – both traditional and behavioral.
Job Vetting: When employers hire faster, they have less resistance to negotiation and the compensation package creeps higher. It can be extremely tempting to say “yes” to offers and ignore red flags. But take a step back and ask yourself if it’s the job—and the employer—you really want. To make an informed decision, research the organization with your trusted network and read their reviews on Glassdoor.
There’s little doubt that 2018 will turn out to be an excellent year to embark on a job search. Enter it with discipline and focus and you will reap its benefits.