If you have spent any time unemployed over the last several years, you know how difficult the job market has become. The tables have been tilted in favor of the employer and the longer your unemployment drags on, the more frustrated you are.
I'm not going to give you tips on how to improve your job search (ok, maybe one), or give you tips and secrets on how to get that job. There are a million people on the Internet, and in your personal life who are more than happy to do that.
Instead, I'm going to give you tips to keep your spirits up, coming from someone who has been unemployed now for a significant stretch of time.
1. Get out of your house/apartment every single day. Go for a walk around the neighborhood at a bare minimum. Or to the park. Become a mall walker. Especially if it is winter, cabin fever will get to you. Counter that by just getting outside and out of your home environment.
2. Don't hide. Similar to the first item, you want to be out front with your job search. Let others know of your predicament and you never know what they may be able to offer in support.
3. Set small goals. Obviously the main goal is to get a new job. But you also want to set small daily, and weekly goals. Perhaps it's to apply to five jobs each calendar week. Or to make two new LinkedIn connections per day. It is much easier to reach and obtain these goals if you keep them small and reasonable. Plus, it will help keep your motivation up.
4. Speaking of LinkedIn, the one improvement to your job search that I highly recommend make involves you and your LinkedIn profile. Complete it and then do what you can to get to over 500 connections. Concentrate on people in your field, or desired field and connect with those at your desired companies. Also, connect with those in your current or desired geographic location. Finally, make sure that you include as many people who have 500+ connections as possible. LinkedIn only works based on three degrees of separation, so you want to get as many people as possible to be within those three degrees.
None of this is guaranteed to help you get a job within the next week, but it can help you cope. Yes, you will have down days, and perhaps down weeks. But maintaining a positive attitude can, and will help you find your next job!
Showing posts with label Economy. Show all posts
Showing posts with label Economy. Show all posts
Tuesday, February 26, 2013
Monday, December 3, 2012
Corporations can't horde all of the cash forever
CNN is reporting that corporate earnings are at the highest share of GDP ever. Conversely, wages for workers are at the lowest share of GDP ever.
None of this is a surprise. Companies have been hoarding cash, slashing their workforce and being stingy with pay raises (maybe a few percent per year, instituting no pay raises or even cutting salaries) for years, frequently using the 'down economy' as an excuse.
Combine that with companies spending millions on lobbying to get billions in tax breaks and it's easy to see how they have ended up with so much positive profits on their balance sheets.
But I suspect that will be changing in the future. First, it's just not at an equilibrium. Shareholders will demand something to be done with all of that cash and profits. Return it to the shareholders in the form of dividends or increase investments.
Secondly, the federal government is in need of revenue. They will raise the corporate tax rates, cut loopholes or some combination of the two.
Plus, as the economy continues to improve, companies will have to increase their hiring as demand for their services or products increase. With an increased demand for employees, wages will rise.
So both of these situations will change. Earnings in relation to GDP will fall while wages will rise. Will it start in 2013? Most likely, but we most likely won't see a dramatic shift until there is a sustained hiring boom.
None of this is a surprise. Companies have been hoarding cash, slashing their workforce and being stingy with pay raises (maybe a few percent per year, instituting no pay raises or even cutting salaries) for years, frequently using the 'down economy' as an excuse.
Combine that with companies spending millions on lobbying to get billions in tax breaks and it's easy to see how they have ended up with so much positive profits on their balance sheets.
But I suspect that will be changing in the future. First, it's just not at an equilibrium. Shareholders will demand something to be done with all of that cash and profits. Return it to the shareholders in the form of dividends or increase investments.
Secondly, the federal government is in need of revenue. They will raise the corporate tax rates, cut loopholes or some combination of the two.
Plus, as the economy continues to improve, companies will have to increase their hiring as demand for their services or products increase. With an increased demand for employees, wages will rise.
So both of these situations will change. Earnings in relation to GDP will fall while wages will rise. Will it start in 2013? Most likely, but we most likely won't see a dramatic shift until there is a sustained hiring boom.
Tuesday, September 4, 2012
Don't kick the can down the road
CNNMoney has an article out today regarding businesses trying to figure out who they are and what they do during down economic times.
Now, if a business has to spend any amount of time trying to figure out who or what they are during any economic condition, they have to be concerned. But let's disregard that just for the sake of argument.
When businesses find themselves in a challenging time, among one of the things they do is cut research and development. The first item in the article discusses this, and it is very true. It's low hanging fruit and the immediate results of that research is not to be reaped. But the problem is that when the down turn ends, there are a reduced number of products in the pipeline to be rolled out.
Plus, it opens the door to your competition catching up and passing you. If you need to trim the budget in tough times, R&D is not the place to do so. All you do is kick the can down the road a bit without solving the initial problem.
If you do need to cut costs, find where the fat is. Before you do layoffs, can you discover if your people are not focusing on the right things? Can their time and efforts be directed elsewhere to increase revenues or decrease costs?
Can your manufacturing costs be reduced just by improving the process your products are produced or assembled? Can it be done quicker and with fewer steps? Don't just cut corners by reducing the quality of your inputs (your customers can always tell).
At the end of the day, don't take the easy way out when trying to get through challenging times. Keep up the R&D expenses. Don't lay people off, instead better utilize their talents to get more for your bottom line. Find other ways to reduce costs other than just the quality of the inputs.
These won't guarantee your businesses survival, but when the downturn ends, you will find your business in a much better position moving forward.
Now, if a business has to spend any amount of time trying to figure out who or what they are during any economic condition, they have to be concerned. But let's disregard that just for the sake of argument.
When businesses find themselves in a challenging time, among one of the things they do is cut research and development. The first item in the article discusses this, and it is very true. It's low hanging fruit and the immediate results of that research is not to be reaped. But the problem is that when the down turn ends, there are a reduced number of products in the pipeline to be rolled out.
Plus, it opens the door to your competition catching up and passing you. If you need to trim the budget in tough times, R&D is not the place to do so. All you do is kick the can down the road a bit without solving the initial problem.
If you do need to cut costs, find where the fat is. Before you do layoffs, can you discover if your people are not focusing on the right things? Can their time and efforts be directed elsewhere to increase revenues or decrease costs?
Can your manufacturing costs be reduced just by improving the process your products are produced or assembled? Can it be done quicker and with fewer steps? Don't just cut corners by reducing the quality of your inputs (your customers can always tell).
At the end of the day, don't take the easy way out when trying to get through challenging times. Keep up the R&D expenses. Don't lay people off, instead better utilize their talents to get more for your bottom line. Find other ways to reduce costs other than just the quality of the inputs.
These won't guarantee your businesses survival, but when the downturn ends, you will find your business in a much better position moving forward.
Tuesday, February 7, 2012
Panic in Greece...Ahhhhhh!
Worries about the Greece economy put pressures on stocks today.
Tell me how many times you have heard about that. Then tell me how many times that has actually made you worried.
For me, I don't even blink. I think that has been mentioned two or three times per week, every week, for the past 18 months or so. Yet the U.S. stock market is near its all time highs. Sure there are troubles economically in Greece, but there is no need to freak out.
Greece did not get into their economic troubles overnight. They will not get out of their trouble overnight. It will take time, perhaps longer than 'analysts' want, but eventually Greece will get their problems straightened out.
There is no need for the average person to follow every single thing that happens with the Greece economy. Sure, if you conduct business in Greece or have other financial interests, definitely stay in tune with what happens. Otherwise, keep a casual eye on what goes on there.
Business writers need to have something to write about. Every minor thing that could possibly happen in the long road to recovery will send someone into a panic. Trust me, there is no need for panic - everything will work out for the positive in the end.
Tell me how many times you have heard about that. Then tell me how many times that has actually made you worried.
For me, I don't even blink. I think that has been mentioned two or three times per week, every week, for the past 18 months or so. Yet the U.S. stock market is near its all time highs. Sure there are troubles economically in Greece, but there is no need to freak out.
Greece did not get into their economic troubles overnight. They will not get out of their trouble overnight. It will take time, perhaps longer than 'analysts' want, but eventually Greece will get their problems straightened out.
There is no need for the average person to follow every single thing that happens with the Greece economy. Sure, if you conduct business in Greece or have other financial interests, definitely stay in tune with what happens. Otherwise, keep a casual eye on what goes on there.
Business writers need to have something to write about. Every minor thing that could possibly happen in the long road to recovery will send someone into a panic. Trust me, there is no need for panic - everything will work out for the positive in the end.
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