Due to growing demands of the workforce, it has been challenging to both workers and companies. Seeking for a job has been challenging due to the competitive job market. Companies also had a hard time getting potential talents due to the same reason. Even business markets are affected by the competitive job market.
Factors that Affects Job Market:
Demand for labor
The more workforce needed, the more available jobs. This is always how the job market works. Jobs are needed continuously, everyday and everywhere. However, it doesn’t mean anyone can get a job. Getting a job is not that easy. It requires skills, time and effort to be counted as a prospective employee. Companies may hire people continuously. But they want someone who can commit and can do the job well.
Available supply of workers
A lot of people are jobless but sometimes the supply of workers is still not enough. Maybe because not everyone is qualified for the job they are applying for. Location also is another factor to this issue. There are available workers in one place but not in the place where job demands are needed.
To be able to beat the competitive job market one has to have the necessary skills to be able to get the employees they need or for workers, to get the employment they desire for.
Be aware of your competitors
Having a background on how your competitors work can give you an idea what to do on your next move. Being able to know who you are competing with can help you think on what are the adjustments you can make. Find out their techniques in attracting applicants. Then make your own strategy that could make more applicants come to you.
Make a better offer
Knowing what the other companies can offer would make you exert more effort to think of something better. For instance, apart from wages maybe you can give a start up bonus. If ever the applicant got hired. Check on their disadvantages and make them your advantage instead.
For businesses: Know your clients
Know the needs of your prospect markets. Business owners will be able to know what products or services they need to give or produce. Sometimes in business, shifting from one product to another happens. Business men have to be flexible in developing their products to fit the consumer’s needs.
Now let’s take a look at the employee’s side. Job is a need for everyone. It is the main factor that can aid them in sustaining their needs as much as their wants. Working has been an essential part of people’s lives. However, there are times when workers need to jump from one employee to another. Reason are as follows:
- Greener pasture
- Closure of workplace
- Better benefits and position
- Broadening personal knowledge and skills
As an employee we have to be better than others to be hired. We have to ace on each recruitment process to be able get the position we desire.
Tips on Being a Competitive Employee
Level up your skills
People work for money. But another reason why they do so, is to become a better person. Especially on their capabilities to do tasks. Leveling up your skills nowadays is easier compared with the old school ways. Everything can be learned on the internet. Maximize your time by continuously learning to be able to broaden your skills on software tools or physical skills. These things can help you get a better position or better pay.
Stand out from other applicants
When applying for a job be extraordinary and showcase your skills starting with how you present your resume. Resume or CV is the first thing to represent you to your prospective employer. So make it short but noticeable. Avoid putting unnecessary information. Instead highlight your skills and your previous experiences. Focus on the ones related to the job you’re applying for.
Prepare in a way that you will be able to catch up with all the necessary requirements. Research about the company you want to work with. Doing so will give you a background on what your job will be. If you are 100% ready you can be confident in your interview. Self confidence is important, but before you can have one, you have to be able to know how to sell yourself. Be familiar with all the skills you can offer to the company.
With all these tips everyone can be a potential client, employee or employer in a competitive job market.