As the job market slowly improves, despite the controversy over what metrics are being used to determine growth, we are definitely seeing some progress and a vertical push.
Good news to be sure. Me, personally, I am more interested in the rise than the fall. Advancement and moving forward, for those of you that know me, is what I like to experience. All of us should feel that way.
Better than moving backwards……
OK – we have found some velocity and we have to hope the motion continues. However, one of the most significant dynamics influencing the job market, is the amount of qualified, skilled and talented people still on the market.
The past 3-5 years have changed things and we now have a ‘new normal’. We have all experienced either directly or indirectly the changes taking place. Lay offs, re-structuring, budget cuts and financial insecurity has caused a surge of really good talent that remains available and on the hunt for a quality place to work.
There still aren’t enough jobs for those in pursuit. Statistics say that won’t balance out. That has created a new challenge for the job seeker – especially the more senior level ones. The hiring community has leveraged the job seeking overflow and created a lower wage offering. Why? Because they can. The competition is really good. It’s a reverse supply and demand.
This adds new pressure to all of us. It alters our standards and our standard of living. We modify our behavior. We renovate our frame of reference to what we did and what we can now afford to do. It’s a game changer.
Do we have a choice? I don’t think so. When I tell a candidate that the salary range is significantly less than what they were previously earning – I see the disappointment in their eyes.
Reluctantly, we accept it. We need to work. We adapt and we move on.
It is the ‘new normal’. But it still offers hope and that is and should be the net takeaway.