In Demand? Time To Test the Market! | Articles & Tips | | Buffalo




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 In Demand? Time To Test the Market!

By Joe Stein

In many ways, it is currently an odd time to be an employee in Western New York. Unemployment is consistently at record low numbers and for those with a particular skill such as in Healthcare or the Skilled Trades, your marketability for a new job has never been higher.
What makes this situation so odd, is the results of a recent Harris Poll which found that almost 50% of all working adults are worried about being laid off/fired from their position. So, why are so many marketable employees reluctant to test out the job market when they are anxious about their job security? The poll found that this concern spikes with younger workers, with as much as 61% of 18-34 year olds having this fear.
So, for many the recipe is perfect to check out the job market to see if there is something better out there than his/her current position. Keep in mind (something that I advise people all the time on) that just because you check out the labor market does NOT mean that you have to take another job. You may find (at the end of this exercise) that you are content staying where you currently work, or, on the flip side, you may be offered that dream role that will cause you to depart.
It should be no surprise that a key for a person to determine whether or not to jump from their current position, is the evaluation process and the preparation that is done in the beginning. Compare this prospective position with both your current role and the list of desired criteria that should have been created once your launched your search.
Below are some examples of potential criteria you should compare any opportunity to when doing your evaluation:
1. Compensation – Probably the first item on most people’s list is the hourly or weekly compensation that will be earned for the role, and how does this compare to what you are making currently. Establish a number in your mind based on a simple internet search of the wage market in your area as well as your personal financial situation. Unfortunately, some companies do not make compensation range adjustments for a position until it is too late and a key internal resource resigns. 2. Benefits – An important area for most of us. Be sure to not only receive a copy of the benefit plans from your potential new company, but also what the cost share will be. Don’t just focus on Medical. Dental, Vision, Disability and other voluntary benefits (such as Critical Illness) can also be crucial to a person. Of huge importance for most is the Paid Time Off (PTO) accrual not only currently, but also find out what the scale is for more based on increased tenure. 3. Manager – Your relationship with your Manager can be one of the most important aspects regarding whether you enjoyed a position. While it is impossible to completely know how a new boss will be via the hiring process, you can get a good general feeling about their personality and style. 4. Commute – Often the most overlooked part of a position evaluation is what changes will occur related to your drive in/from work. What WNY’ers consider a bad commute is much different than other large cities, so a long drive in traffic is usually avoided by working closer to home. Take a test drive out from your home to the prospective employer *best and determine mileage and driving time. The parking situation can also be very important to those in this area. Compare what you have now to what would be in terms of ease to park, distance to facility, and cost. 5. Career Growth – When evaluating positions you should not just be reviewing the one you would be hired into, but what potentially would be your next one. Compare the career-pathing of where you are now (have they taken you for granted?) with what it could be with another opportunity.
The good news for those currently employed is that conducting a job search does not have to be hard work that is done on top of working your regular job. By using and its confidential resume function you can let employers know you are potentially available without alerting your current company or expending a lot of effort.
It currently is a good time for many to test out the job market and determine if there is a better position out there for them. A combination of a dire need for people with certain skill sets and a robust economic scene has led many job seekers to pleasantly find out that a job switch is the best thing for them. The good news is that there really is no downside, if you don’t find the job that hits all of your important criteria then you stay where you are and keep working.