Two job candidates waiting to be called into an interview.
The key to succeeding in 2023 is to accept the uncertainty and take action. You need to realize that we won't return to the halcyon days of companies hiring with reckless abandon. Some Economists and Wall Street professionals have predicted that we will face a rough recession. Layoffs and hiring freezes will continue for the near term. You will need to make yourself indispensable at the office while keeping an eye open for new opportunities.
To gain a competitive edge, start searching for a new job right now. Spruce up your résumé and LinkedIn profile. Ask around to find a few top well-respected recruiters. Check out job boards, create an elevator pitch and network with friends, family, former coworkers, college alums and others to gain job leads and introductions to key decision-makers at target companies.
Thoroughly read the job description to ensure that you’re the right fit, and watch for any red flags. Ask the hiring managers tough questions. You don’t want to quit one job to find out later that the new company is conducting layoffs or rescinding job offers. While interviewing, ensure you are working hard at the office or home, getting noticed by your boss, and making yourself irreplaceable just in case you don’t receive a job offer.
Just because the New Year starts doesn’t mean everything has become good again. Inflation is still at 40-year record highs, and the Federal Reserve increased interest rates which popped the everything bubble. The stock, real estate and crypto markets plunged in 2022. The one invincible tech giants saw their share prices plummet. Amazon's stock price cratered, falling 50.3% year to date. Meta saw a 63% drop, and Netflix plunged by 53%.
On The Positive Side, January Is A Good Month To Find A Job
Historically, January is one of the best times to embark on a job hunt. The commencement of a new year ushers in a feeling of possibilities and fresh starts. Seeking out a new opportunity is part of the usual promises made; going on a diet, joining a gym, and getting rid of bad habits.
From Thanksgiving until a week or two into the New Year, there is an unspoken collective agreement between workers and management that we can see all coast during the holiday season. It's a time to take a vacation, use your personal days, and enjoy three or four-day weekends. As people are mentally checking out of work, it’s too difficult to gain transactions in the hiring process. Soon as one person returns from their vacation, another professional— integral to the interview process— is out of the office.
By the second or third week of January, we engaged in another collective decision. Begrudgingly, we adopt a ‘back to school’ mentality and reconciled getting back into the grind. Human Resource professionals and hiring managers start panicking when they realize they need to fill seats that have been vacant for too long. The workers who have been picking up the slack are complaining that they need help, with a veiled threat that they'll quiet quit or commence a stealth job search if the company doesn’t hire people to help with the workload.
What To Watch Out For
Although January is a great time to find a new job, the first few weeks are usually slow-moving. There is a time lag for new budgets and headcounts to be approved. Companies will slowly start posting their open roles online and enlist recruiters to help find suitable and appropriate candidates.
Sometimes there is a gap between the reality in the job market and what managers perceive is happening. They may not be aware that salaries have risen due to inflation and may inadvertently extend lowball offers. The hiring process has become colder. Human Resources don’t respond to your résumé submissions, and phone calls, texts and emails go unanswered. It’s become commonplace that after undergoing three to six interviews over several months, the company ghosts you.
Before a new person is hired, leadership wants to understand who might be leaving or already has a new role lined up. There’s a bit of a drag as year-end reviews, raises, bonuses and promotions linger into January or March.
Sectors, including Wall Street and tech companies, pay in total compensation. A large portion of pay packages is in the bonuses. Banks can hold off on paying the bonus up until about March. It's a cold strategic move to impede a person from leaving, as they’ll forfeit their bonus if they quit before it's paid out. Some job seekers hold off on their search plans out of fear of being found out and jeopardizing their year-end bonus. The company you are interviewing with may not want to buy out your bonus due to the new austerity mindset of corporate leadership.
Work On Your Mindset And Positivity
In addition to possessing the right skills, academic background and talents for the job, you also need the right attitude. Companies want people who are confident, motivated, positive-thinking and enthusiastic. They want people with winning attitudes.
Interviewing is a stressful endeavor. You’ll need to summon up your courage and be bold and brave. At times, even the best and brightest get rejected. When this happens, brush yourself off and get back up again.
Managers and interviewers want to hire and work with upbeat people who project the ability to get the job done. A critical part of the job hunt is your mindset. Cultivate a positive outlook that radiates confidence. Recall all of the times you triumphed over adversity. Think of all the good luck you’ve had. Going into an interview with positivity makes a big difference. People will pick up on your vibe and frequency. They’ll feel good in your presence. When you emanate a positive aura, you’ll become likable and desirable.
