You may be wondering why you should hire a career coach, particularly if you have been successful in your career thus far.
Consider these points:
- The job market is worse now than it has been in the last 26 years. The national unemployment now stands at 10%, and the ranks of the unemployed are swelling (http://www.marketwatch.com/story/unemployment-rate-jumps-to-26-year-high-of-97-2009-09-04). Employers are shedding jobs faster than they are creating new ones. That means the competition for jobs has increased significantly since this recession began.
- The traffic to job boards has skyrocketed. Traffic to job search sites, for instance, grew 51 percent in January from the same month a year earlier, according to comScore Media Metrix. (Traffic on Job Websites Jumps, Scripps News, March 13, 2009, http://www.scrippsnews.com/node/41702)
- At the same time that traffic to job boards has increased, the number of postings has dropped. Despite the boom in traffic, many recruitment sites are taking a financial hit. Many charge employers to post openings, a far less frequent activity in these days of hiring freezes and layoffs. Indeed.com, a major job board, found that there were 119,171 postings for the accounting industry in January, down 53 percent from a year earlier. Postings in technology were down 43 percent to 395,629. The sectors that held up the best were health care, which was down 8 percent to 581,625 postings, and education, in which postings fell 9 percent to 62,933. (Traffic on Job Websites Jumps, Scripps News, March 13, 2009, http://www.scrippsnews.com/node/41702)
- “Executives in a job search now expect to spend an average of 10.1 months searching for their next position regardless of their employment status,” according to ExecuNet, a job board and networking site for senior level executives. (http://www.execunet.com/m_releases_content.cfm?id=4291)
Unemployment is costly, and in more ways than one. First, the financial cost. If you’re an executive, your job search is estimated to take 10.1 months. For the sake of example, let’s say you are making $150,000 a year. If you are unemployed for 10.1 months, you will lose $126,250 in pay. If you are a professional making $75,000 a year, you will lose $40,625 in pay if you are unemployed for six and a half months.
According to CBS MoneyWatch, “…The longer you’re unemployed, the harder it is to get hired by sometimes skeptical employers, and the bigger hit you’re likely to take to your salary when you do find something.”
Then there is the emotional cost. The Atlanta Journal Constitution states that Americans who are unemployed are four times more likely to report symptoms of depression. And USA Today reports that unemployment can lead to loss of self esteem, stress, and strained relationships.
According to ExecuNet’s Executive Job Market Intelligence Report, here is how executives found new positions:
- 70% through networking
- 16% by responding to job postings
- 9% by posting a resume to a database or maintaining an online profile
- 3% researching target companies and cold calling
- 2% by broadcasting their resumes
Using a variety of job search methods is the most effective way to find a new position quickly, according to the Bureau of Labor Statistics. In other words, since you don’t know which method will work for you, try several of them.
Most people are using only job search method, and that is responding to open positions. That only has a 16% success rate!
To really stay on track with your job search and shorten the length of time that you are unemployed, it pays to hire a professional to assist you. According to the Boston Herald, a career coach can help you get your next job. A career coach can assist you with developing a job search strategy and fine tuning your messaging (both verbal and written) so that you present yourself in the best possible light to a potential employer. And a career coach can help you leverage social media to give your job search a boost.
Start working with a career coach today! Send an email to admin@calltocareer.com to schedule an introductory session.
Tags: Career Coach, Employment Agencies, Executive Search, Find a job, Find a job with social media, get a job, Job opportunities, job search




