Has the way we look for and find employment changed? Without a doubt. The current economic climate has his (and continues to do so) us on many fronts. And among them, both the search for employment and the management of candidates have been affected.
Greater number of specialized professionals in the market.
Companies have stopped the headcount when hiring new professionals, and in many cases they have been forced to let go of highly qualified professionals. However, this scenario, although it is the one that we here about most, is not the only reality. My firm has contacted with various companies that have experienced double-digit growth over the past couple years and have maintained their hiring levels.
These two realities, although juxtaposed, are witness to the rise in qualified professionals in the market, and how those companies in growth phases are taking advantage of these increased availability to hire highly qualified professionals not normally available for their projects.
Fewer number of job opportunities. It’s time to reinvent yourself.
It’s clear that over recent years the number of job opportunities has diminished, and in the face of this situation many professionals have been obliged to reinvent themselves. In many cases, this metamorphosis has lead them to embark on entrepreneurial projects, to team up with other professionals or begin new activities that motivate them, but that they had not been able to develop previously. Other professionals, however, have taken advantage of this historical impasse to deepen or direct their knowledge in those specific areas of the market that are necessary when applying for a job in today’s more competitive market.
What companies require of candidates in times of economic crisis.
At the same time, companies have adapted to this new environment with a clear idea of the requirements they ask of those professionals that will join their teams: “flexibility and adaption to change” are the factors most valued in this sense. Another conditio sine cua non is one’s level of commitment to the project in which the new professional will become a part. Of course, international experience, foreign languages and a willingness to change one’s place of residence have also become other “musts” of the moment. This is due to the fact that, more and more, the major Spanish companies with international presence are moving their profit centers to other regions of the world.
Changes in salaries.
When I’ve been asked, “how has the economic downturn affected professional salaries?” my answer is that, in my opinion, in many sectors the market has actually normalized salary levels in comparison with other more prosperous times when these had grown to sometimes inappropriate levels. In my opinion, salaries have not drastically dropped (excluding some very specific sectors), but nor have they shown any significant growth. However, companies have tried to compensate this readjustment by favoring variable instead of fixed incentives, choosing a structure more oriented towards reaching objectives and flexible benefits.
CONCLUSION: New opportunities in the job market for new realities.
For Einstein, major crises represent the optimal moment for progress to be born and new opportunities to flourish. In my opinion this is the vision that both companies and professionals should share while facing this time of profound change in which we find ourselves. Both protagonists should remain active, dynamic and with an open mind towards change. The labor market is reinventing itself and we must do so with it. Internet has left its mark in this are and for this reason we need to know how to me present in it and why. Although we’ll speak about that shortly.