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The perfect time to look for a new job

It’s impossible to read the news without seeing a headline about the economy or job market. Unfortunately the media only focuses on hiring freezes and layoffs. I have yet to see a headline that features hiring and the vast number of high performing companies. 

So you might be wondering if this is a good time to make a move. 

Before you answer, let’s give you a reference point. There are 12 million professionals in the tech industry. The highest number of layoffs I’ve seen is 138,000 (layoff.fyi). In absolute numbers, that’s a significant amount of people — and very real for every individual who’s been affected. However, when we zoom out, we see the layoffs account for ~1.15% of the overall workforce in tech.

As of October 2022, the unemployment rate stood at 2.2% compared to the national unemployment rate of 3.7%. And according to a tech jobs report by CompTIA and a separate analysis by PR Newswire, the overall tech job postings increased by 3% to 317,000 openings in October.

Getting back to the question — is it a good time to make a move?

The answer is…it depends on you. 

Regardless of the media or any stats, it’s how you feel about the current situation as well as your job and career.

When it’s better to wait

If you’re feeling overly anxious about the economy or job market, then it’s most likely better to wait. When you’re not feeling good about the world or your life, it’s harder to find a more fulfilling job. 

I often relate it to dating. If you feel like there’s a shortage of potential partners or time, then you’ll show up to the first date with great intensity and expectations. This makes it harder to attract the right person (not to mention getting a second date).

That said, you shouldn’t wait forever and postpone your path to a more fulfilling job. While you wait, you can take some of the microsteps that will not only help you get prepared, but will also build your confidence.

For those of you who have some apprehension, but want to make a bigger impact, have growth opportunities, increase your compensation and have work-life balance — here are some things you can do to set yourself up for a successful job search.

Focus on the good

  • Stop doom scrolling and reading all the news around layoffs. Instead, read books and listen to podcasts that teach and inspire you, like this one from Jay Shetty.

Advice from Rob Barnett (via a recent Business Insider article), a recruiter who sources candidates for tech companies, said he’s unbothered by the news about layoffs and hiring freezes. He shares that he’s hired people at the worst moments of the economy and advises job hunters to stay focused on their searches rather than scrolling social media. “Whether there are fears of a recession, or it’s the holidays…never take your eyes off the ball and never get discouraged by scary headlines. You can still be the right solution for a hiring manager at any given time.”

  • When you see someone post about their new job, congratulate them and ask to catch up. Find out how they approached their job search as well as their best practices and strategies.
  • Create a vision board of your new life once you have your dream job. Or write a new story of what this job looks and feels like (title and company agnostic). This will help keep you focused and motivated.

Deepen your belief in yourself

I love this Henry Ford quote, “Whether you think you can, or you think you can’t — you’re right.” If you truly believe you can get an amazing job and feel great about your career and accomplishments, you’re going to be wildly successful. 

  • Watch this Tony Robbins video on the magic of visualization. He shows the connection between our beliefs, the actions we take and the results we get. When you’re filled with absolute certainty, then you take action and get phenomenal results. This strengthens your belief and then you tap into even more potential and get even greater results.

Take actionable steps toward your goal

  • Do some of these exercises, including your career vision and defining criteria for ideal role and company. Most people dive into updating their resume and applying online. You’ll gain clarity by taking the time to reflect and determine what’s most important to you. And when you’re clear about what you want, others will be too.
  • Do research to build your target companies list. Read reviews on Glassdoor, look at job postings on LinkedIn, read recent articles, review financial statements, watch keynote speeches from leaders. Spend time on their website to get a feel for their products, customers and core values.
  • Meet with several people at the company and ask about the priorities, leadership and culture. See if the company is on a good growth trajectory and whether they have “nice to have” or “have to have” products. Getting insider information is the best way to determine whether the company is a good fit for you. And if not, that’s great! Your goal is to gain clarity, which helps you focus on ideal companies.

By doing these activities, I know you’ll be able to make a strategic career move to a job you love and thrive in! 

And the good news is there are thousands of tech companies in growth mode that are hiring. You just need to find the best one for you — and be prepared when the opportunity arises. 

If one of your goals is to land a job where you feel fulfilled, realize your potential and get the compensation you deserve, then watch our video and book a session with one of our Job Strategists. We’re excited to talk to you!

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