Competition is fierce for executive level jobs, but our guide can help you get better results from your job search efforts and ultimately land you that dream job.
The competition for good executive jobs is more intense than ever. During the period that you may be in the market, each aspect of your approach should be optimized—your resumes, your letters, your networking, your direct mailings, your access to openings, and so on.
Why competition has grown. With the use of smart phones, computers, internet and e-mails, people now distribute far more resumes. And, with people living and working longer, far more people now look for jobs. With the growth of the Internet, many people also leave their resumes posted online ... blurring the line between active and passive job seekers, and increasing competition.
Candidates under consideration. Today, many employers have several hundred candidates for every job they advertise. Even after you work hard to get a good interview, ten good candidates are likely to be under consideration. This is why refining your interviewing skills is critical.
Breaking Down the Job Market
The current U.S. job market can be broken into six segments. Four represent released openings which can now be reviewed through the Internet - if you know how to find them. In any month, several hundred thousand jobs, and fifty percent of all the jobs that will be filled at a professional or executive level are available in these four segments. Collectively, these are often referred to as the published job market. The other two segments represent private openings in what we call the unpublished job market.
When you enter our private website, you can find a wealth of information all in one place. The information contained within can save you weeks and even months of job hunting. For now, let's briefly review each of the market segments.
The direct-to- employer job market. This market was not accessible until a few years ago, but most major corporations now hire this way. Every day, more and more smaller employers are also posting openings on their websites. Why? The reason is economics. Recruiting is expensive, and this is the most affordable way to fill a position.
The job market through professional job banks. Also referred to as job boards, where some specialize in foreign countries, others in industries. Others specialize by career level.
The recruiter job market. In the past, openings available through recruiters could not be reviewed. Today, almost all recruiters list jobs on their websites.
The advertised job market. This is a large market, and more accessible than ever. Although the shift to online advertisements is completed, there are still some trade publications, magazines and news papers that contain a jobs section.
The unpublished job market as it relates to new or expanding businesses. Historically, identifying growth firms took weeks of library work and networking. Now, you can instantly access them throughout the whole country, even on your phone. You can use any major search engine to pinpoint firms with record sales or profits; those receiving new capital; firms with planned expansions, and so on.
- The unpublished job market through contacts. This is still a major part of the job market. A lot of jobs are never published, but candidates are recruited through connections and interactions online and offline. To access this market, you can reach out to associations, growth companies, service firms, manufacturers, college professors, small businesses, etc.
What Today's Job Market Competition Means to You
To generate maximum interest in your talents, you must take a number of different approaches. Most people should produce "interviewing activity" in each of the market segments mentioned here.
How Executives View the Job Market
"I had never looked at this level before and made all the classic mistakes. For months I tried The New York Times and The Wall Street Journal. I did a little on the Internet, discussed my resume with friends and sent it to some recruiters. The results were disheartening. Obviously, the market has changed. Your approach was enlightening. The best thing is that you have designed your service around all market segments, giving people many more ways to get connected."
"Last time I moved, I went through a traditional outplacement seminar program. Their methods were totally dependent on networking, took a long time, and did not work very well. To say that the market has changed is an understatement. Recruiters approach things differently because of the web, and employers are filling more and more positions through it. The scanning of resumes today dictates a whole new approach if you really want to be successful."
"There's very little about older forms of job hunting that works today. But the good thing is, relatively few people understand the new market. Your approaches give people a major competitive advantage."