The growth of the staffing industry is also something that's very indicative of shifts in the labor supply. Data show that the staffing industry has doubled in just the last five years, from about a $60 billion a year industry to an over $120 billion a year industry, and analysts project it will become a $200 billion industry by 2010.
Fremont, CA (PRWEB) April 23, 2009
The Bureau of Labor Statistics recently announced its Economic News Release for March 2009. The release states, "In March, the number of unemployed persons increased by 694,000 to 13.2 million, and the unemployment rate rose to 8.5 percent. Over the past 12 months, the number of unemployed persons has grown by about 5.3 million, and the unemployment rate has risen by 3.4 percentage points."
In similar news, the San Francisco Chronicle reported that the California state un-employment for March soared to 11.2 percent, the highest since before World War II, leaving a record 2.1 million Californians out of work.
Due to turbulent economy over the last few years, many experienced workers are opting out of the W2 workforce and becoming professional contractors or consultants in the contingent workforce. A 2007 Business Week article regarding the contingent workforce stated, "The growth of the staffing industry is also something that's very indicative of shifts in the labor supply. Data show that the staffing industry has doubled in just the last five years, from about a $60 billion a year industry to an over $120 billion a year industry, and analysts project it will become a $200 billion industry by 2010."
With the numbers in, Level Six Partners is telling un-employed workers and current contractors the Top 6 ways to become consultants.
Top 6 Ways to Become a Consultant for Newly Unemployed
6. Have References Ready - The last step in becoming a consultant is reference checking. When submitting your resume and references to a staffing company regarding an engagement, you help the firm by taking a step out of the staffing process. By providing references up front, you are making it easier for the staffing company to submit your resume with confidence for an engagement.
5. Education and Certifications - If you want to become a consultant, now is the time to get certified or finish up that degree. As a consultant or contractor, customers are looking for skills their current workforce does not have. Degrees, MBA's, MS Degrees, Six Sigma Certifications, PMP Certifications, CPA accreditations are powerful skills employers are looking to augment their current workforce.
4. Location, Location, Location - In the current employment market there is simply a large pool of available talent. If you are seriously considering relocating to a new area, then I would recommend setting up shop a virtual location in the area you wish to work. IP Phone carriers like Vonage make setting up a local phone number easy with Virtual phone number services. Companies like FedEx Kinko's with mail box services make it easy to setup a local address, without a PO BOX reference. Staffing firms and consulting agencies are looking for local contract talent. It is more hassle for staffing firms to negotiate travel, time and expenses when local candidates exist. Setup a local presence and prepare to pay your own relocation expense.
3. Culture Match - If you have not noticed by now, your work experience is likely to be in same size firms. If your resume is full of either Fortune 500, midsize, or startup company experience, stick to what you know. If you have a large enterprise background, then seek out opportunities and staffing firms that specialize in enterprise contract opportunities.
2. Resume Layout - As a consultant, don't be verbose. Stating every position you've ever held is not a sign of a well organized consultant. As a staffing and consulting company, we see hundreds of resumes. The common feedback we receive from customers is that the resume is too long. As a consultant, it is important to highlight relevant experience staffing firms are looking to place on a client engagement. If the staffing firm is looking for someone with software experience, recruiters will scan the first half of the resume looking for your technical software skill set. If the skill is not present, you and your resume will be overlooked. Always tailor your resume for the opportunity, and limit the length of the resume to no more than 3 pages.
1. Know the Market Rate - Over the last 12 months, customers have demanded staffing firms reduce their contract rates from 10 percent to as much as 20 percent. None of us will ever be paid what we are really worth, in the interim know your contract rate. If you are recently un-employed and not sure what consulting fee to charge, use the following calculation: (Last Salary Rate/2080 Work Hours per Year). As an example, if you are a project manager making $125,000 per year, your per hour rate is $65.00. As a consultant, you pay health care benefits and rarely will you receive a bonus. Be sure to factor in benefits and other cost, which could translate into an asking contract rate between $80 and $100 per hour depending on your experience. Price your rate accordingly and know what the market will bear.
The contingent workforce is a great opportunity for recently un-employed and experienced workers. The staffing industry growth rate indicates that there is a market and customers are seeking this talent pool. Identifying the right staffing and consulting firm that will help you get placed quickly; will determine how successful you are as a consultant.
For more information regarding Level Six Partners, become a Consultant and join the ContingentForce Certification Program, please visit their website at http://www.L6Partners.com.
About Level Six
Level Six Partners specializes in contingent workforce resource and management solutions for enterprise customers. Our delivery model is based solely on a contingent workforce methodology. We use tools and automated staffing processes to select, track, hire, staff, and place experienced contingent workforce resources. What that means for our customers is the opportunity to hire resource on-demand, reduce overall cost of staffing engagements and mitigate risk in the employment of a resource.
About Jeff Wofford, MBA, Managing Partner and Author
Jeffrey is the Founder of Level 6 Partners and heads the Global Technology Practice areas for the firm. Jeffrey brings over fifteen years of software, information technology, and supply chain management experience to the group. He has worked for and consulted to Fortune 500 and startups companies including: Oracle Corporation, Cisco Systems, Sun Microsystems, and Scient Corporation. His current focus is to transform the Contingent Workforce into an on-demand service offering for enterprise clients. Jeffrey is also an Author and wrote 'The Business Plan is Dead - How to Raise Capital in the New Economy.'
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