Finding Silver Linings in a Challenging Job Market

"Bear Market," a term I was hoping to avoid since moving on from the world of cryptocurrency. Alas, it has resurfaced in a different realm, prompting me to write this article.

I was lucky enough to join my last company during the post-pandemic job boom, dealing with candidates who wouldn’t glance my way unless the offer included a salary triple the national average for their role, a one-day office attendance per year (flexible, of course), free breakfast, lunch, and dinner delivered to their doorsteps, and dog grooming services.

Transitioning into agency recruitment during a bear market, it's as if I've moved from a bustling coffee shop with a long queue to a quiet one with a slow barista. With most companies dialing back on vacancies for the first time in over two years, the wait may be long, but the coffee (opportunities) will be worth it.

Every cloud has a silver lining. Mine, in this bear market, is mastering persistence and handling rejection with grace (I only used one box of tissues today!). I'm diving into business development, often meeting closed doors, but using this phase to forge relationships with clients and candidates. I share insightful materials with clients, prepping them for success when hiring bounces back. Keeping lines open, I ensure clients and candidates know that I'm here for a chat, even in tough times. It's about sowing seeds through BD now, uplifting candidates, and navigating this market with resilience and communication.

Now, onto the market. The fact is, job openings are scarce. There are more people applying than there are jobs available. On the temporary side, we are witnessing more consistency in vacancies. More companies are opting for temporary and contract workers due to economic uncertainty. Job seekers are more open to looking at temporary and contract work. The silver lining here is that companies are taking their time when hiring to ensure they make smart hires. Candidates can use this time to upskill and strategise with their applications – it’s wise to apply for roles that align with your experience and skills, rather than blind applying.

For Job Seekers:

1. Explore New Horizons: Now might be the time to explore a field you're curious about. Your dream job could be a quick apply away!
2. Skill is Still King: Polish up those resumes and let your expertise shine through in the interviews. Your skills are still very much in vogue!
3. Temp Could Turn into Perm: Temporary positions could be your foot in the door to permanent roles. It’s like going on a series of job ‘dates’ before finding the right match!

For Employers:

1. Quality Over Speed: Now’s the time to seek quality candidates who align well with your company's values and long-term goals.
2. Training Treasure: Investing in training programs could be akin to planting seeds today for a lush talent garden tomorrow.
3. Flexible Work Models: The trend towards temporary staffing offers a chance to explore flexible work models.

In light of the trend towards temporary staffing, I am here to assist. Reach out at [email protected] for support with temp and contract staff solutions!