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Jan
04

Job losses and re-employment: what are your job prospects in the New Year?

Figures released last month showed that unemployment rose for the first time since April, an effect of the 33,000 public sector redundancies made in Q3. With the government expecting to make a further 330,000 redundancies over the next four years, competition for private sector jobs will certainly intensify into the New Year.

The outlook appears to be bleak. With inflation growing faster than earnings and the tax rise in the New Year, businesses will be tightening their belts and implementing hiring freezes. This will leave job seekers facing a job market that continues to prove challenging.

The worst affected will obviously be those leaving the public sector. Many of these people will have been working in government organisations for most of their careers and the prospect of facing a challenging job market will leave them despondent and demoralised. The job market has changed considerably over recent years. A high proportion of more senior roles are now found through the unadvertised job market and other alternative routes that may not have been prevalent when the candidate was last job searching.

The ONS report shows that the number of advertised vacancies rose to a total of 468,000 in the third quarter which is positive for the outlook in the New Year. However, the rise in unemployment and the prospect of further governmental redundancies will make the job market more competitive, stressing the need for candidates to stand out amongst their peers.

Now is the time to think hard about your strategy. What savings have you made your previous employers? What revenues have you increased? What can you offer that others cannot? If businesses are tightening their belts you need to prove you are worth your salary.

Just like any product you have to find your USP and push it as part of a wholesome package that the user can not be without. Take some time to sit down and reflect on your strengths and weaknesses, then reflect how a business might have been affected by the current economy; now apply your own experiences to show the benefits you can bring a prospective employer.

It’s not just a case of rewriting your CV and firing it to a host of recruiters. You need to build your networks. It’s no good sending a CV to company that doesn’t appear to be hiring. You need to meet with a decision maker from that company and prove to them that your input will increase their profit margin.

So the prospects for the New Year may appear bleak but it is not impossible to make a career move. Stay positive and invest time in your career and the effort will pay off. If you are going to be making some career resolutions this year, make networking the top of your priority list. Join institutes and societies that are related to your industry and start meeting new people who will open new doors and lead you to new opportunities.

If you are struggling with marketing yourself appropriately at this time, or having difficulties in expanding your network of contacts a career management or outplacement consultancy can assist you. Personal Career Solutions are offering a chance to meet with one of their consultants at no cost in order to analyse your situation, review your CV and discuss the unadvertised job market. They will give you tips on how to market yourself correctly at this time and can even offer long term support that will cover your job search and give you access to tools and resources that will give you an edge over you your peers.

To find out more about Personal Career Solutions and to arrange a consultation please visit www.personalcareersolutions.co.uk or call 0844 880 6690 to speak to a representative.

4 comments

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