Introduction To Todays Job Market

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Information about Introduction To Todays Job Market

Published on May 20, 2009

Author: ajankans

Source: slideshare.net

Introduction to Today’s Job Market Presented by LaunchPad Careers © 2009 LaunchPad Careers, Inc.

Overview Understand the job market of the past: GDP drivers, hiring trends, and the workforce. Analyze the changes in the market and workplace. Learn how these changes affect you and your job search. Position yourself to take advantage of recent technological advances: personal branding, social networking, and searching and applying for jobs. © 2009 LaunchPad Careers, Inc.

Understand the job market of the past: GDP drivers, hiring trends, and the workforce.

Analyze the changes in the market and workplace.

Learn how these changes affect you and your job search.

Position yourself to take advantage of recent technological advances: personal branding, social networking, and searching and applying for jobs.

“ For tomorrow belongs to the people who prepare for it today.” – African Proverb © 2009 LaunchPad Careers, Inc.

Basic Facts About the Job Market Unemployment is currently at 8.9% nationwide and at 11.3% in California. Employment is a trailing indicator of economy. Globalization and trade impacts the job market. The US economy of today is a service and financially driven economy. © 2009 LaunchPad Careers, Inc.

Unemployment is currently at 8.9% nationwide and at 11.3% in California.

Employment is a trailing indicator of economy.

Globalization and trade impacts the job market.

The US economy of today is a service and financially driven economy.

Who Moved the Cheese ? Learn to adapt to change. Learn to anticipate change. Don’t get complacent as you move along your career path. Continually seek out new opportunities. © 2009 LaunchPad Careers, Inc. “ If you do not change, you can become extinct.” − Spencer Johnson, M.D.

Learn to adapt to change.

Learn to anticipate change.

Don’t get complacent as you move along your career path.

Continually seek out new opportunities.

The Job Market of the Past © 2009 LaunchPad Careers, Inc.

Job Market of the Past Economy of yesterday was built on goods we grew, manufactured, exported, etc. Wealth creation was based on tangible ownership. The educational system developed employees. Companies and businesses had defined benefit plans. © 2009 LaunchPad Careers, Inc.

Economy of yesterday was built on goods we grew, manufactured, exported, etc.

Wealth creation was based on tangible ownership.

The educational system developed employees.

Companies and businesses had defined benefit plans.

Current GDP Drivers © 2009 LaunchPad Careers, Inc.

GDP Drivers Manufacturing output has continued to decrease as a percentage of the GDP. Economy increasingly reliant on finance related industries and the service sector. Current recession is directly related to a natural deleveraging of the economy and was caused by a collapse of the financial sector. Globalization has shifted our competitive advantage. © 2009 LaunchPad Careers, Inc.

Manufacturing output has continued to decrease as a percentage of the GDP.

Economy increasingly reliant on finance related industries and the service sector.

Current recession is directly related to a natural deleveraging of the economy and was caused by a collapse of the financial sector.

Globalization has shifted our competitive advantage.

Approach to Hiring Economy more self-contained. Businesses hired unskilled workers and trained them. Companies provided more benefits and sought to cultivate employee loyalty. Unions formed to protect workers’ rights and ensure a measure of safety. © 2009 LaunchPad Careers, Inc.

Economy more self-contained.

Businesses hired unskilled workers and trained them.

Companies provided more benefits and sought to cultivate employee loyalty.

Unions formed to protect workers’ rights and ensure a measure of safety.

The 60s, 70s, 80s, and 90s brought a wave of company consolidations. Conglomerates emerged. $2 trillion worth of corp. assets changed hands from 1993-1999. Consolidations were often fueled by cheap and easy money. Junk Bonds Easy Credit Inflated Stock Market Industry Consolidation © 2009 LaunchPad Careers, Inc.

The 60s, 70s, 80s, and 90s brought a wave of company consolidations.

Conglomerates emerged.

$2 trillion worth of corp. assets changed hands from 1993-1999.

Consolidations were often fueled by cheap and easy money.

Junk Bonds

Easy Credit

Inflated Stock Market

Famous Too Big to Fails (The Past) © 2009 LaunchPad Careers, Inc.

Famous Too Big to Fails (The Present) © 2009 LaunchPad Careers, Inc.

The Crash Bernard Ebbers CEO of WorldCom Ken Lay, CEO of Enron Dennis Kozlowski CEO of Tyco © 2009 LaunchPad Careers, Inc.

Causes and Effects of Consolidations Causes Business seek larger market share More opportunity to buy competition Seek to reduce costs through leveraging efficiencies Effects Productivity gains Cost savings Higher prices for products or services Elimination of redundancies cause reduction in workforce © 2009 LaunchPad Careers, Inc.

Causes

Business seek larger market share

More opportunity to buy competition

Seek to reduce costs through leveraging efficiencies

Effects

Productivity gains

Cost savings

Higher prices for products or services

Elimination of redundancies cause reduction in workforce

Not the Great Depression Historical Unemployment Rate © 2009 LaunchPad Careers, Inc.

Effects on the Workforce Businesses viewed employees as valuable “human capital.” During consolidations, companies look for cost savings from combining operations. Human capital is service industry’s biggest overhead. Layoffs fastest way to reduce overhead costs. © 2009 LaunchPad Careers, Inc.

Businesses viewed employees as valuable “human capital.”

During consolidations, companies look for cost savings from combining operations.

Human capital is service industry’s biggest overhead.

Layoffs fastest way to reduce overhead costs.

Human Capital Human capital is a measure of the economic value of an employee’s skill set. The term was coined by economist Theodore Schultz in the 1960s. Service-oriented economy requires companies to continually improve human capital and leverage it to enhance productivity gains. Not always considered a real asset. © 2009 LaunchPad Careers, Inc.

Human capital is a measure of the economic value of an employee’s skill set.

The term was coined by economist Theodore Schultz in the 1960s.

Service-oriented economy requires companies to continually improve human capital and leverage it to enhance productivity gains.

Not always considered a real asset.

Contingent Workforce Contingent worker is someone who works for a staffing company or as a 1099 contractor. This workforce has seen significant growth over past 20 years. Started with large companies and moved to small businesses. © 2009 LaunchPad Careers, Inc.

Contingent worker is someone who works for a staffing company or as a 1099 contractor.

This workforce has seen significant growth over past 20 years.

Started with large companies and moved to small businesses.

New Working World Order © 2009 LaunchPad Careers, Inc. Old World New World Large corporations were stable, provided longevity and great benefits. Too big to fail just failed. Layoffs are used to maintain shareholder value. Companies provided training and a path for career growth. Companies use human capital just as other resources. Just in time. People placed an emphasis on stability and loyalty over personal growth and development. Companies are loyal to their shareholders and “worker-preneurs” are loyal to their personal goals. Employees worked hard and were rewarded for that hard work. Employees work hard, but will continue to look for greener pastures. Career path was well defined. Career path may change numerous times, and is not defined by the corporation. Job duties had a narrow and defined focus. Job description is undefined, and will change often and at times without notice.

How These Changes Affect You and Your Job Search © 2009 LaunchPad Careers, Inc.

How This Affects You Career Mapping and Planning Industries and Professions Personal Branding and Marketing Resume and CV Writing Identifying Opportunities Networking Pursuing Opportunities and Applying Interviewing © 2009 LaunchPad Careers, Inc.

Career Mapping and Planning

Industries and Professions

Personal Branding and Marketing

Resume and CV Writing

Identifying Opportunities

Networking

Pursuing Opportunities and Applying

Interviewing

Career Mapping and Planning Past: Paradigm of having long career with one company no longer exists. Present: Likely you will work at 3-5 companies over 15 years. Future: Expect to work for dozens of companies, and to change specializations a couple of times. © 2009 LaunchPad Careers, Inc.

Past: Paradigm of having long career with one company no longer exists.

Present: Likely you will work at 3-5 companies over 15 years.

Future: Expect to work for dozens of companies, and to change specializations a couple of times.

“ As organizations reshape themselves to survive and compete in a global economy, the familiar employee-employer contract has been broken. The drastically changing world of work demands a new social contract – one that says we are all self-employed whether we work inside or outside of the organization.” – Cliff Hakim We Are All Self-Employed © 2009 LaunchPad Careers, Inc.

The “Worker-preneur” Contingent worker, 1099 contractor or business owner who provides specialized services to one or multiple companies at a time. Focused on increasing their value to companies. Invests in education and knowledge to stay competitive. Specialized and flexible. © 2009 LaunchPad Careers, Inc.

Contingent worker, 1099 contractor or business owner who provides specialized services to one or multiple companies at a time.

Focused on increasing their value to companies.

Invests in education and knowledge to stay competitive.

Specialized and flexible.

Industries and Professions Low-skilled manufacturing careers outsourced. Professions related to outdated industries phased out. Expansion of highly-skilled and global careers. Explosion of green jobs. © 2009 LaunchPad Careers, Inc.

Low-skilled manufacturing careers outsourced.

Professions related to outdated industries phased out.

Expansion of highly-skilled and global careers.

Explosion of green jobs.

Slowing Industries Source: “Eight Endangered Industries,” by Ernest Beck © 2009 LaunchPad Careers, Inc.

Growing Industries Source: Bureau of Labor Statistics © 2009 LaunchPad Careers, Inc.

The Future Is Green Potential for the next boom. Cuts across many industries: Agriculture Automotive Construction Finance Manufacturing Green innovation could attract private and public investment. More difficult to outsource. © 2009 LaunchPad Careers, Inc.

Potential for the next boom.

Cuts across many industries:

Agriculture

Automotive

Construction

Finance

Manufacturing

Green innovation could attract private and public investment.

More difficult to outsource.

Modernizing Healthcare Congress is preparing to overhaul the healthcare system. Aging population of “Baby Boomers.” Control costs through modernization and Health IT. More difficult to outsource. © 2009 LaunchPad Careers, Inc.

Congress is preparing to overhaul the healthcare system.

Aging population of “Baby Boomers.”

Control costs through modernization and Health IT.

More difficult to outsource.

Personal Branding Past: Job seekers didn’t need to create or promote their brand. Present and Future: Job seekers need to tailor skills to fit needs of employers. Wider reach through technology. Web 2.0 © 2009 LaunchPad Careers, Inc.

Past: Job seekers didn’t need to create or promote their brand.

Present and Future: Job seekers need to tailor skills to fit needs of employers.

Wider reach through technology.

Web 2.0

Resumes Version 1.0 1-2 pages Standard white paper Emailed, faxed or hand delivered Standard formats Experience and positions listed chronologically Generic, not targeted © 2009 LaunchPad Careers, Inc.

1-2 pages

Standard white paper

Emailed, faxed or hand delivered

Standard formats

Experience and positions listed chronologically

Generic, not targeted

Resume Version 2.0 Incorporates Web 2.0 features Graphs, charts Photos, video, audio Resides on the Internet Is a “living” document Directly links to websites and blogs © 2009 LaunchPad Careers, Inc.

Incorporates Web 2.0 features

Graphs, charts

Photos, video, audio

Resides on the Internet

Is a “living” document

Directly links to websites and blogs

Searching for Jobs Web 2.0 has changed the way we look for jobs. Online job boards have replaced newspaper ads and taken the job search global. Many creative tools are freely available. Networking is still best way to find jobs. © 2009 LaunchPad Careers, Inc.

Web 2.0 has changed the way we look for jobs.

Online job boards have replaced newspaper ads and taken the job search global.

Many creative tools are freely available.

Networking is still best way to find jobs.

Networking Fundamentals are still the same. Creates more value in relationships. Technology enables you to build fast and vast networks. New ways to communicate with your business or social networks, i.e. Twitter. © 2009 LaunchPad Careers, Inc.

Fundamentals are still the same.

Creates more value in relationships.

Technology enables you to build fast and vast networks.

New ways to communicate with your business or social networks, i.e. Twitter.

The Glass Ceiling Fewer social barriers to success than ever before. Businesses are looking to diversity products and services through human capital. “ Old boys” network got old. Not about where you are from, it’s about what you can do! © 2009 LaunchPad Careers, Inc.

Fewer social barriers to success than ever before.

Businesses are looking to diversity products and services through human capital.

“ Old boys” network got old.

Not about where you are from, it’s about what you can do!

Applying for Jobs More companies are taking the entire application process online. Advantage: You have the ability to apply to more jobs, faster. Disadvantage: Greater competition for same jobs, places onus on personal branding and marketing. Sophisticated screening technologies. More personality-based screening. Companies are tracking applicants digitally. © 2009 LaunchPad Careers, Inc.

More companies are taking the entire application process online.

Advantage: You have the ability to apply to more jobs, faster.

Disadvantage: Greater competition for same jobs, places onus on personal branding and marketing.

Sophisticated screening technologies.

More personality-based screening.

Companies are tracking applicants digitally.

Interviewing Performance, competency based interviews replacing traditional approaches of asking about strengths and weaknesses. More intrusive screening and background checks. Technological advantage goes to the better informed. Success will depend less on I.Q. and more on E.Q. © 2009 LaunchPad Careers, Inc.

Performance, competency based interviews replacing traditional approaches of asking about strengths and weaknesses.

More intrusive screening and background checks.

Technological advantage goes to the better informed.

Success will depend less on I.Q. and more on E.Q.

Summary Job market reflects changes in the economy as it relates to innovation, technology, and globalization. Your success depends on an ability to adapt to changes. Industry merger mania, consolidation, and globalization led to evolution in today’s workforce. From company, career-employee to “worker-preneur.” Marketing and advertising not just for companies. Personal brand will increase your human capital value. Throw away generic resume. Develop targeted resume. Network to leverage relationships and opportunities. © 2009 LaunchPad Careers, Inc.

Job market reflects changes in the economy as it relates to innovation, technology, and globalization.

Your success depends on an ability to adapt to changes.

Industry merger mania, consolidation, and globalization led to evolution in today’s workforce.

From company, career-employee to “worker-preneur.”

Marketing and advertising not just for companies. Personal brand will increase your human capital value.

Throw away generic resume. Develop targeted resume.

Network to leverage relationships and opportunities.

Any Questions? © 2009 LaunchPad Careers, Inc.

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