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7:22 AM / Tuesday May 17, 2022

28 Jan 2022

Ask HR: How to make the most of the current job market

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January 28, 2022 Category: Color Of Money Posted by:

BPT

If you look at the numbers, the past few months have been a great time to search for a new job.

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In the U.S., the number of available jobs in 2021 topped 10 million, which is a record high, according to the Bureau of Labor Statistics. Despite so many open opportunities, 6.3 million Americans were still unemployed as of December 2021.

To help you understand how to navigate this unique, rapidly changing job market, Rob Mundell, senior vice president of Talent Solutions at Charles Schwab, shared his advice for people navigating the job market at every stage of their careers.

“Now is a great time to think about how to make the most of your career, but not everyone knows where to start. One of the most fulfilling parts of my job is helping people along that journey,” Mundell said. “I’m grateful to work at a company also committed to doing just that, whether that means a well-deserved pay raise for employees, hiring for thousands of new roles, fostering a culture of continuous development, or offering robust reskilling programs for people who want a change.”

Entering the workforce: Scale up your networking

There is no doubt this is an unprecedented time to start a career. Today’s remote work environment has flipped hiring norms on its head, making it easier for candidates to land their dream job with fewer applicants applying to open roles. Those looking for a new role should be engaging with their network regularly to help uncover positions that could be their dream role.

Think about it, remote work has made it far easier to schedule a 30-minute video call than it is to meet for coffee, and networkers are likely to find more luck today convincing people to take the time to chat in a virtual setting. Reach out and ask for informational interviews. Virtual career events, which are available through schools or professional organizations, have become increasingly common.

Never stop networking, even after you land a job.

Rejoining the workforce after a break: Tell your story

Over the past two years, job loss has been an unfortunate reality for many Americans — 25% of adults said they or someone in their household had lost their jobs due to COVID-19.

A critical skill many individuals in the job market have had to display is the ability to practice perseverance. The good news is that experiencing an employment gap is less of a deal-breaker than job seekers may think, and most companies are sympathetic to the challenges job seekers have faced.

In this environment, storytelling is critical. For example, if you had to take time off work to care for family members or prioritize yourself, these are relevant attributes for an employer to consider. Now more than ever, companies are looking for resiliency, work ethic and passion, so don’t undersell your story.

“One of my favorite aspects of the interview process is getting to know who candidates really are,” Mundell said. “Authenticity is always key for me. The better I am able to understand what motivates and inspires them, the more easily I can see how they’d contribute to a role and add to our culture.”

Switching roles: Consider a change internally

For workers, the pandemic has sparked both introspection and transformation. Pandemic epiphanies, as they have been called, have resulted in many people pursuing career paths that align with personal passions and interests. This has been one of the driving forces of “The Great Reset,” in which half of America’s working population is actively searching for jobs or watching for new opportunities.

But being part of The Great Reset does not always require leaving your current employer — in fact, as employers work to retain talent, more are willing to accommodate internal career moves. In particular, large organizations often encourage talent mobility and are willing to let employees shift roles if it means being able to keep them on board. And, as companies bring new talent into their ranks from outside their businesses, many are actively considering talent with transferable skills who may bring different perspectives to open roles while coming from backgrounds in unrelated industries or job functions.

When making a job switch internally, it is important to advocate for yourself, be vocal about what type of work motivates you and express where you see yourself contributing within the company. Regardless of what position you’re interested in, leverage your experience. Don’t underestimate the unique perspective you bring from your knowledge and time within the company.

To view the thousands of new, open roles at Charles Schwab or learn about a career in financial services, tech or more, visit: https://jobs.schwabjobs.com/.

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