The Jobless Recovery Game Plan

It is abundantly clear that we are at the beginning of an economicrecovery, with many positive signs from U.S. companies and from abroad.  While the recession may have ended –officially – this is likely to be a jobless recovery.  In a jobless recovery, profits increase but companies areconservative and don’t hire back jobs that were cut during the recession.  Productivity has increased (that’scorporate speak for employees are working harder) and technology has allowedalso for fewer workers.

All job categories have been hit in this recession and executivesare no exception.  If you are amanager or exec who has lost her job – or even if you’re still hanging by yourfingernails – there are some things worth considering as you contemplate yournext career move during a jobless recovery: 

• Stop being stubborn. You may not be able to get a job at companies that meet your careergoals and it may be time to start broadening your search.  Look into similar industries, differentlocations and even the idea of switching careers.

  
  

• On the other hand, target certain companies that you prefer, andstay on their radar.  Thingschange, jobs open – be in a better position to get the job.

  
  

• Relocationmay have to be an option.  Foryears, jobseekers have been fortunate enough to find jobs in their ownbackyard, but that idea has to change. Look elsewhere for jobs that meet your skill set and career goals.  At worst, you can come back home whenthe employment situation improves. At best, you may enjoy your new job enough to stay.

  
  

• Youmay want to start looking for jobs in healthcare, education, government and theenvironment.  We expect to seegrowth in those industries in the coming years due to a number of factors (i.e.healthcare reform, a push for new green jobs, turnover in government and thecreation of new jobs in the industry, and the American Recovery andReinvestment Act that will pump money into education.)

  
  

• Go back to school. This is not for everyone. Do not just decide you want to be a lawyer and then go back to school topursue this goal without doing the research, but if you have always wanted tochange careers, or go to college or grad school, now may be the best time to doit.

  
  

• Don’tshy away from volunteer work, internships and part-time and temp work.  Not only will taking these routes keepyou busy during a recession, but it will also help jobseekers add skills totheir resumes, make contacts in the industry, and offer opportunities forfull-time work should openings become available. 

  
  

• Justbecause the news says we are experiencing a jobless recovery, does not meanthat there are no jobs out there. Tap into your network and keep making the effort to get in front of theright people.  The right referralcould lead to a job.