14 Apr Layoffs Are Currently Sweeping the US — Here’s How You Can Navigate This Rough Market
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If you’ve heard about technology companies announcing massive tech layoffs last year, it doesn’t look like the trend will be slowing down much in 2023. Tech giants like Microsoft, Amazon, Google, IBM, and Salesforce have announced job cuts across the board — although it’s not strictly tech companies, but smaller industrial firms and financial companies too who’re laying off employees amidst fears of a further economic downturn and stagnating sales. You might find yourself being swept up in the latest wave, but where did this rough market come from?
Part of the problem originates a few years back, when big tech behemoths when on a hiring spree during the pandemic, as lockdowns supported more remote work and e-commerce caused a huge spike in sales for primarily online businesses. As things have slowly returned to some semblance of normal, revenues have declined in turn. Nowadays, everything from continuing supply chain issues, to concerns over inflation are having an impact on businesses and older pre-pandemic revenue models, leading to growing fears of a recession.
Layoffs.fyi, an online tracker meant to keep tabs on job losses in the tech industry, published data that tech companies have laid off over 100,000 workers in the first six weeks of the year — nearly 64% of the total tech company layoffs for 2022. While high-profile companies continue to restructure their staff, if you’ve found yourself caught up in part of the workforce let go, how do you navigate searching for a new position in these times?
The good news is that businesses have been adding jobs across a much broader set of industries
then usual, allowing workers to switch careers more easily. Even in the slowest month of 2022, the economy still added 60% more jobs than in a typical month in 2019, according to the U.S. Bureau of Labor Statistics. There are plenty of ways to make sure you’re an attractive candidate so that businesses on sites like ZipRecruiter can both find you easily and reach out to you. Here are our top tips on handling your next job search in this labor market.
1. Reformat Your Resume
When you start your job search, first, look at your resume — check that you’re using the right format, and highlighting your applicable skills over experience in an established industry. You might want to consider a functional resume format, which emphasizes your hard and soft skills (like leadership, or any certifications you have), and is a great option for entry-level job hunters, or if you’re switching industries.
Highlight any technical skills like specific software programs (hard skills) and interpersonal skills (soft skills) that are beneficial to how you manage the workload and how you work on a team. Always make sure to review the job description carefully and consider which skills are most relevant to the position. Consider which skills (like leadership, creativity, drive) have helped you succeed in the past, and be sure to feature those in your resume.
2. Brush Up Your Online Candidate Profile
Part of the job-hunting battle is how you present yourself as a candidate, so your online presence should reflect both your job experience and what skills you bring to the table at a glance (like your resume, make sure everything is up to date).
ZipRecruiter is our favorite site for finding high-quality jobs online, since they use a powerful matching algorithm and AI technology to create instant matches between you and the right companies for what you want to do based on your profile. Using information about your skills (such as education, skills, and experience), it can connect you with thousands of businesses online through their browser site, mobile app, and email program.
You can also sign up to receive notifications when your resume is viewed, and emails from recruiters if a job listing that matches your profile pops up. ZipRecruiter’s salary search tool also gives you transparency on what employees in similar positions are making based on location and title. The best part? You can sign up and create a ZipRecruiter account for free.
3. Be Proactive Applying Online
When you start your job search, if you’re not using the right keywords, you might end up finding contract work when you’re looking for full-time positions, or companies that only want a certain kind of experience. Be proactive not just with the volume of applications you’re sending out, but with which specific positions you’re applying for.
You can also try experimenting with different keywords, since “work at home” might generate different positions then “part-time” or “freelance”. Certain sites will let you filter by keywords, employer, or job title. Sites like ZipRecruiter can let you filter even further by choosing your experience level, desired salary, location, and more. If you have a specific company in mind, and want to see if they have any open positions, you can explore their Company Page and navigate their “jobs” page for relevant listings. Don’t be afraid to reach out to hiring managers directly on sites like LinkedIn or Indeed either, since a company may not always list all their open positions online.