This is one of the tightest executive job markets I have seen in my more than 25 years of executive search and as a career coach.
Industry consolidation and the rapid expansion of graduate management programs focusing on healthcare have combined to create the perfect storm, a significant imbalance in the number of executives looking for work, and the shrinking number of positions that are available.
Each New Job Posting Attracts Dozens of Candidates
For each job posting there are dozens, sometimes hundreds, of applicants.
To succeed, you will have to bring your “A” game to the market.
Now, if you are looking for a silver lining there is one. The vast majority of people searching for work are relying on old school techniques – the same strategies and routines they have used in years past because they do not understand how the market has changed, from what employers want to see on your resume to how you interview.
You Must Differentiate Yourself from Competitors
You have to look for every advantage to differentiate yourself from everyone else who is clamoring to make it to the finalist table.
If you are out there on your own, without the support of a coach who can guide you through this new job search environment, it can be pretty lonely and very frustrating.
Let me share with you some benchmarks that you must apply to your job search to be successful:
8 Job Search Benchmarks
- You need to develop a value proposition so that you can deliver a concise, meaningful explanation of who you are and why you are the one who should be hired. You must incorporate your value proposition themes and information in all of your communications. In fact, it is a great answer to that traditional first question: Tell Me about yourself.
- You must spend at least 25 to 30 hours each week on your search, doing those things that will move you closer to your goal
- You must develop and execute a strategic networking plan that will connect you with the recruiters and decision-makers. You can use networking software from over here as well as doing more research to make sure that this is a priority.
- You must make 30 to 40 networking calls each week. From each one of those calls your goal should be to get additional names for you to network with.
- You need to post news articles, essays or mini-case studies on LinkedIn every week to increase your visibility to recruiters.
- You should spend time each week working on your interviewing skills. The interview is where you can really shine if you invest your time to perfect your skills. Most executives are not very good at the interview. Why? They do not have much experience.
- You should be attending ACHE chapter meetings and business networking groups on a regular basis.
- You should engage a transition coach who will provide you with important information to guide you through the elements of today’s challenging job search process, someone who will help provide you research support and who will hold you accountable for executing on your plan and meeting your weekly job search performance metrics.\
Invest In Your Career: Many executives see hiring a coach as an unnecessary expense. I disagree. I think it is an investment in your career, not for the current tough job market but for your future success. Moreover, there is evidence that executives who use a career transition coach land their next position faster than those who go it alone.