Our marketplace is extraordinarily savvy and risk sensitive. They will forego short-term salary gains if they feel a ripple effect of tightening credit might make a job change too risky right now. But just like the market itself, there is certainly a risk/reward calculus that can make this current climate a great career transition moment.
New York, NY (PRWEB) September 19, 2007
The hot topic of conversation among the professional financial and brokerage clientele of WallStJobs.com has shifted from career transitions to job security. "With many firms cutting back their hiring and searches, there is more resistance from candidates to making career moves right now for the openings that do exist," says WallStJobs.com founder, Robert Graber. "Even with attractive salaries, it will likely take some extra incentives to convince experienced pros to change positions. So now is one of those ‘pendulum-swing’ moments when a careful candidate can do quite well in the job market."
Graber explains that candidates are now much more focused on an available position’s long term growth. "They want to know why the position is available. If it as a result of a sector growth, or as a result of a promotion then there is a greater likelihood they will take an interview. But if it is a replacement position, then questions about signing bonuses and higher initial compensation come into play."
Graber attributes some of the skittishness of candidates to credit-related worries in the market. "Our marketplace is extraordinarily savvy and risk sensitive. They will forego short-term salary gains if they feel a ripple effect of tightening credit might make a job change too risky right now. But just like the market itself, there is certainly a risk/reward calculus that can make this current climate a great career transition moment."
Graber predicts that this more cautious search approach from candidates will put increasing pressure on firms to sweeten offers, especially for hard to fill positions. "It is similar to a sports team that has its sights set on luring a star performer from another team. Unless they are World Series or Super Bowl contenders, than they will have to pony up big bucks to land their quarry. This is especially true if the coach has recently quit or other players have just been let go."
But if candidates feel the stakes are just too high to make a move right now, Graber suggests taking steps to insulate themselves against becoming job-cut targets. Some preventive measures include:
- Take on more responsibilities. If possible, join high visibility projects that can showcase talents now more than ever.
- Consider accepting assignments that have travel requirements. These are the types of projects that are usually the hardest to fill and can make a person more valuable.
- Google yourself to be sure you are mentioned professionally. The greater the number of entries, the better. If this is lacking, contact trade publications and offer to write articles or columns for them. These are often picked up in on-line searches under your by-line.
About the company: WallStJobs.com, the premier recruiting source exclusively for financial service professionals, is a member of the Jobosaurus family of uniquely specialized recruiting sites.
This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: http://www.HRmarketer.com) on behalf of the company listed above.