Friday, October 15, 2010

Q3 Job Market Update

Another quarter has ended and it has been two years since the stock market crash of 2008. Since that time the job market has not really recovered. I have interviewed more than 200 candidates since the crash, and the most popular question is "is the market getting better?" This is a loaded question; it is better now then it was in Q4 of 2008 and all of 2009. The problem is, it is better than terrible but not a healthy job market.

This last quarter Alchemy has seen an increase in activities such as candidate interviews, new roles being created, etc. This is a good sign BUT we need to see companies hire people, not just interview them. We have been successful in matching people and companies but it takes a great effort on all parties to make things happen. The bottom line is, activity has increased but hiring hasn't. We believe hiring will increase soon, hopefully Q4 2010 but not at a level we consider healthy, but better than it has been in 2009 and so far this year.

A current trend (more so now than in the past) is commitment to the role or the candidate. Hiring managers need to express strong interest in the candidate from the beginning so the candidate stays focused on them and not move towards another role or continue to shop around for new opportunities in other companies. Additionally, if candidates have multiple interviews in multiple places it is more difficult to attract them and to get the candidates through the interview process. If you are a candidate you need to sell yourself to the hiring manager from the beginning and not come across as if you are unfocused or hard to get. Companies want people who are well qualified and are VERY focused on the role at hand "this is my ideal job" is what needs to be said and must be convincing. There are too many candidates interviewing for a single job, many candidates are equally qualified so you need to separate yourself by being more interested "committed" to the role and company then the your competitor.

Since I was late with this update I will update the blog in two months with a snap shot of Q4 and the upcoming Q1 2011. Please feel free to contact me if you have questions or need some help.

Happy Hunting!

Bryon McDougall