A rising candidate’s market means that now is an ideal time for job hunting, even if you’re happy with the one you have. Experts share why and what to do about it.
Considering December’s low unemployment rate of 3.9 percent nationally, and 4.8 percent in Arizona, it’s likely that you are gainfully employed. You might even like where you work. Nonetheless, experts say that now is the time to throw your hat into the job hunting ring.
“The best time to look for a position is when you already have one,” The Finders CEO Sharon Bondurant says. “It takes the pressure off.”
And a low unemployment rate means it’s a candidate’s market. That’s when there’s an uptick in career opportunities, but not enough qualified job seekers to meet the demand.
“As the economy continues to rebound, there are more jobs and opportunities than viable, easily found active job seekers,” Sharon adds. “In 2017, we are seeing this to be truer than the past few years.”
This is happening nationally, and Arizona, the fifth fastest-growing state, is now experiencing the country’s second fastest growth rate in the tech space, she explains.
“Many companies are either moving their offices here or expanding their IT hubs here,” Sharon informs, “and the Phoenix and Tucson metropolitan areas are attracting a bed of startups.”
Without enough candidates seeking jobs, companies are forced to dip into the pool of passive job seekers, also known as people who have jobs. The Finders Technical Recruiter Michelle Orling says this is great for those who are employed.
“There is a lot more flexibility to write your own ticket,” Michelle reports. “Keep an eye on the market and network so you have the right connections. Don’t miss out on your dream opportunity if it comes across.”
Flexibility and lifestyle benefits are among the items jobs seekers can expect to negotiate now, The Finders Account Manager Melissa McCoy adds.
“Do you want more responsibility? Less responsibility? Better benefits? Closer commute? Better work hours? Remote work? All of those options are available as companies get more competitive to attract the best talent to their team,” Melissa suggests.
It’s also the time to accelerate your career, she says, because there are now advancement opportunities that didn’t previously exist.
“There are more opportunities open now than ever, including new start-ups that are growing fast that you may not have heard of, big companies that have recently opened locations in Phoenix and many more opportunities that were simply not around when you searched before,” Melissa explains, noting that a new company may have established itself in closer to your home, which would shave time off of your commute.
The time is ripe to develop new skills, gain more responsibility, increase your compensation, and move up in life, the experts advocate.
“A move in the right direction can really be a win for your career,” Sharon agrees. “If there is a platform you want to be exposed to or work within, now is a good time to research companies that have roles with the platform. It’s all about working on cutting edge technology.”
Besides, you might dodge an unforeseen bullet. Sharon reports that the number one reason why people look for a job is that they are not happy with their direct manager.
“You never know when there is a sudden change at your current company,” Sharon explains. “Sometimes a manager resigns, gets promoted, has a life change, or an illness. It can come without warning.”
The key is to strike while the iron is hot, Melissa confirms.
“Life is long and it is always smart to keep your options open,” she says. “If you don’t look, you don’t get, period.”
Executive Summary
A rising candidate’s market means that now is an ideal time to look for a job, even if you’re happy with the one you have. Experts share why and what to do about it.
Takeaways
It’s a candidates market now more than ever. That makes it an ideal time to look for a job because you can:
- Gain a career promotion
- Negotiate lifestyle upgrades, more flexibility
- Answer to a better direct report
- Explore your options
- Move up in life
Action items
- Update your resume and LinkedIn
- Email The-Finders to learn about opportunities in your field today