Imagine five people circling a single chair in a game of musical chairs. What do you suppose would happen once the music stops? Crazed mayhem, that’s what.
A recent U.S. study shows that for every job vacancy right now there are no less than five candidates vying for the role. Job vacancies are rare as many employers find it hard to justify hiring in one area while in the midst of layoffs in another. When they are able to hire employers are taking advantage of the generous supply of candidates that they are dropping starting salaries to an all-time low to try to save a few bucks. The labour market has loosened up so much to the point that it truly is a ‘seller’s market’.
While layoffs continue and more and more people are losing their jobs, panicked employees endeavouring to avoid the same fate are doing whatever it takes to not rock the boat and remain gainfully employed…let alone well-paid. It truly is a sign of the times when candidates’ wage expectations bottom out and they become reticent to enter into any kind of negotiating over salary.
What this means for candidates now is you have to be sharper than ever. Do whatever it takes to be different…to stand out from the other four people you are up against. Be early for that interview…wear a brand new suit that fits you well and makes you feel like a million bucks…tidy up that resume to highlight all of the accomplishments you’ve achieved in your career…write that handwritten thank you note after the interview and follow up impeccably…network, network, network!
Be prepared and do your homework and I guarantee you it’ll your butt in that seat when the music stops.
PHOTO: Fokket
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