Unemployment & Changing jobs - what are my options in today’s market?
Posted almost 4 years ago by Rob Markwell
Though unemployment is sadly a common topic in the news today, many people are forgetting that as a result of the lockdown forcing new working from home patterns and furlough taking its toll on household incomes, some will be looking to change their job.
For those who have been fortunate to retain their employment and work from home, 42% believe market conditions are likely to remain uncertain for a while, triggering 39% to start looking for a new job today and a further 32% considering it in the near future.
Whilst for these people market conditions will play a large effect, for those whose confidence has been impacted by being placed on furlough, a staggering 60% of our respondents are currently looking for a new job.
Whilst we anticipate companies may reduce their hiring levels in tandem with the economy, some may be dealt with a difficult task of having to hire new staff due to their current teams leaving.
As an employee what are my options?
With many uncertain about economic growth and the creation of new roles, it may be surprising to hear that a range of backfill vacancies could come on the market in the near future. Whilst positive news, it is important to remember competition for these roles is likely to be high.
Enhance your professional skills
Whilst things are running slow at the moment, now may be the time to consider upskilling yourself with hard to find or required skills to ensure you meet or exceed the required role criteria during applications. We have recently talked about the ways you can professionally develop yourself using various free online tools provided by Adobe, Google and Code Academy. You won’t need to become an expert, but showing a recognition for the changing dynamics of your field can go a long way.
Consider multiple avenues for employment
If you are uncertain as to the stability of your role, or you are concerned about having your hours reduced, looking into alternative avenues of employment may be wise to ensure you can keep paying vital bills.
Some of our candidates have picked up freelance and extra part-time roles whilst working from home or on furlough. Our message to you would be to ensure you are within the legal parameters of any employment contracts you hold and have received financial advice on the impact this may have on your taxes, however if there is nothing stopping you from going beyond your current sector to experience new roles then go for it.
We wish to emphasise that any decision you make regarding changing career or picking up extra work should be as informed as possible, either with the help of a legal expert or a recruiter to help guide you in the right direction. We are currently doing as much as possible to help those in difficult positions secure employment, going as far as offering our services for free to some clients. If you finding yourself in a difficult spot, please do not hesitate to get in touch with us.
