According to Bureau of Labor Statistics, Professional and business services added 51,000 jobs in June. In June, employment in professional and technical services increased by 30,000. Computer systems design and related services (+7,000) and management and technical consulting services (+7,000) led the job growth. So far in 2019, professional and technical services has added 149,000 jobs, and management and technical consulting services (+25,000). These are substantial numbers but the growth rate can only be sustained for so long.
Indeed, these are great times, especially for consultants and professionals. I am not an economics expert and can’t predict the financial future, but at some point, based on the historical data and some of the case studies we’ve studied at HBS, the growth will eventually slow and potentially reverse into recession.
As a professional, you want to stay ahead of that trend and do everything possible now to make your Career recession proof. Below are some of the strategies to take into account to put yourself in a position to win vs. scramble at the last minute when everyone is applying to the same job posting.
- Grow & Expand Your Professional Network. One of my professors at HBS, Prof. Linda A. Hill, the author of Being the Boss: The 3 Imperatives for Becoming a Great Leader, defines the 3 types of networks:
- Strategic
- Operational
- Developmental
You need to perform a careful analysis of your professional networks and aim to categorize it into these 3 categories. This will allow you to understand the depth and diversity of your network. Prof. Linda A. Hill recommends that we identify gaps in our networks by:
Building Outward, not Inward
Build Bridges
Build Diversity
As a CTO of Prosource IT, which specializes in niche staffing in Information Technology, I spend good deal of my time strategizing with the Sr Executives of Fortune 500 Companies on winning the war for talent and as one of my favorite authors Claudio
Fernández-Aráoz stated “Its not the How or the What, but the Who – succeed by surrounding yourself with the Best”.
In summary, Network, Network and Network. Yes, a lot of networking events are worse than a visit to a dentist, but you can be strategic about targeting the niche events and programs, which will allow you to expand and diversify your network.
- Relationship with Recruiters. Indeed, the staffing and recruitment industry has been largely commoditized in the past decade but this is not what this article is about (although I do plan on addressing that soon). During my years as a Project Manager for many large Fortune 100 companies, I have had my share of experience dealing with recruiting agencies that largely focus on numbers, where you are a just a small part of the volume-based game. But not all companies are the same and there are Staffing companies that focus building genuine relationships with the candidates and invest time into really understanding their needs and desires, while making best effort to match them up with the right Company. This may sound as cliché and a marketing gimmick, but our company, ProSource IT (although smaller than most Staffing agencies), embraces head on the value of relationship building with the candidates and employs specific strategies which provide direct opportunities to create that dialogue between the Recruiter and the Candidate.
As a professional and a potential job-seeker, identify and invest time into building relationship with a Recruiter or two who exhibit genuine interest in working with you long-term.
- Invest In Yourself. Complacency is deadly. Identify the latest trends in your industry and match that against your personal interest in certain fields that you will enjoy. For example, if you are a Business Analyst working at a Financial Services company, you may want to explore areas of expanding your technical skillset by learning SQL or purchase courses on Udemy on Data Science or AI. Supplementary and niche skillset will allow you to solidify your resume and increase your potential whether you are aiming for that next promotion at the current company or exploring new opportunities.
At PM Imperative, we cover the latest trends in Project Management and Product Management. As PM practitioners, we understand the value the Project Managers and Product Managers bring to each organization and that’s why we focus on the most practical strategies that Project and Product Managers can implement immediately. If you found this post useful, be sure to check out our latest book: The PM Imperative – Guide for Leading & Managing Projects, People & Delivering Value. https://pmimperative.com/shop/
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