The new Fortune 500 list is out this morning, and Ladders is proud to be powering the Jobs on all of the Fortune 500 company pages.
Each year, Fortune determines the largest companies in our economy and ranks them by revenue. Our depth of coverage, and expertise in the marketplace for professional jobs, matches perfectly with Fortune’s expertise in business journalism. We’re proud to be a part of this famous annual list, particularly at this delicate time for the job market.
Speaking of the job market, maybe things are getting a little bit better. Job openings at the $100K+ level increased 5% nationally last week, and we saw almost 600 employers return to the $100K+ talent market.
While you are most interested in the job market for one person – you – let me give you the big picture that we’ve seen play out in every recession in the past 20 years, and then show how it connects to your job market, and what you should do about it.
This graph from the Federal Reserve Bank of St. Louis, shows average monthly hires over the past 20 years:
In good times, like these past few years, employers in the US add around 5 million new hires per month to their headcount.
In bad times? Around 4 million per month.
On one hand, it seems like a small difference. On the other hand, when our economy is missing 12 million hires in a year, you can see how that would have an impact on overall employment.
People are often surprised when I tell them that in a recession such as today’s, or 2009’s, employers are still hiring 4 million people per month. But it’s true.
And that’s because most hiring is replacement hiring.
Someone at the company left. Someone else was promoted. Another was hired away.
That leaves an opening to fill.
And you should fill it, Richard.
Having helped millions of high-end professionals with their careers over the past 18 years, there’s really only one secret to success:
Staying consistently active in your job search.
We’ve done research with Connie Wanberg at the Carlson School of Business, published in the journal Personnel Psychology. And what we found was that consistent activity was the best predictor of job search success.
The sad part? We also found that the day after someone perceived they had a bad day in the job search, they would only do half as many job search activities.
I mean, it makes sense — you get discouraged, you get down.
But if you can somehow block that out, and just focus on what is really going to get you through the job search…
It actually works.
Making the calls, talking on Zoom, connecting via Ladders Expert Directory, writing the emails, applying for jobs — taking each one of these steps gets you closer to success. Nothing else does.
Of course, you can search jobs directly as well.
We’ve got resources to help, you’ve got the time and motivation. Let’s get going.