The job market can be challenging for job seekers, and many factors can impact their ability to find new employment. However, it is essential for them to be persistent and to continue to apply for jobs that are the right fit for their skills, experience and background, as the application process is a numbers game.
But how many résumés must a job seeker submit to be successful in their quest for a new role? For some people, the number has soared beyond 500 job applications, according to Bloomberg.
This data point illustrates how tough it is for Americans to find a new job in this current economy. Some may send out hundreds of résumés without receiving any offers. Job hunters must also contend with rejections, ghosting and rude treatment along the way.
Why Is It So Difficult?
The days of the Great Resignation are long gone—when workers held all the bargaining power and were quickly hired to meet business demands. With employers now having the upper hand in the labor market, they are being picky. Companies have hyper-specific job requirements for candidates, and if they fail to meet all of these requisites, they are out of contention for the role.
Employers are slow-walking the hiring process, as they are in cost-cutting mode. Research by human capital advisory firm Josh Bersin Company and workforce solutions business AMS found that the duration for global hiring is at an “all-time high.” Many positions remain vacant for two to three months or more, which the report calls “unsustainable if companies are to remain competitive and keep pace with the fast-changing needs of their industry.”
Employers will still post job listings to appear as if the company is growing and thriving, but in reality, it’s a ploy to gain a pipeline of résumés for the future, when circumstances improve.
By receiving high volumes of résumés, corporations can get a good sense of the labor market. Knowing that there are more job seekers than positions open to them, in their industry and at their skill level, employers may degrade their pay scale because of supply and demand.
Some companies are just not hiring at the pace in which they did in the past. This is due to various factors, such as economic uncertainty or decreased consumer spending.
People are desperately applying for any job, even if they’re not qualified. It’s a case of “shooting their shot” or “spraying and praying” their résumé everywhere, hoping that they will eventually get a company’s attention.
The Job Market Has Softened For White-Collar Professionals
Hiring managers are hesitant to hire new employees if they are concerned about the state of the economy. They may be worried about having to lay off workers, if the economic outlook continues to dampen.
As we approach the holiday season, the hiring pace begins to stall, as key decision-makers are out of the office and may not be as focused on hiring new employees.
The job market has cooled considerably compared to 2021. Layoffs, hiring freezes and pullbacks in certain sectors, like tech, have reduced opportunities. For instance, over 1,000 companies have laid off more than 246,000 professionals in the tech industry, according to Layoff.fyi.
Job Hunters May Need To Rethink Their Strategy
If you are not gaining traction in your job search after months of trying, it’s time to take stock of what you’ve been doing. It makes sense to conduct a self-assessment and audit of your job search strategy to determine if you are self-sabotaging.
Take a fresh look at your résumé, LinkedIn profile and social media presence. On the logistics side, you must ensure that your grammar, punctuation and spelling are accurate. Remember to include a phone number and email address so people can contact you. Poorly formatted résumés could be reducing callbacks
Your responsibilities, past accomplishments and achievements should jump out at the reader and make them take notice. Be specific and quantify your success with data, numbers and examples. Ensure that your résumé, LinkedIn profile, elevator pitch, social media profiles and postings highlight your success, brand and core responsibilities. Let the reader know what you want to do next, so that they understand your goals.
If you bombard a company with résumés and application submissions for over a dozen different job listings, this approach will epically fail. The human resources and talent acquisition professionals will assume that you’re taking a scattershot approach to your job search and couldn’t care less about the job or company. To them, it’s like you’re throwing things against the wall and hoping it sticks.
Source: Forbes
