Navigating today’s job market: Is this a good time to make a move?

Today’s job market is vastly different from a year ago, even six months ago. We are likely going into a recession.  High profile/Tech companies are laying off and companies are going through hiring freezes.  Yet, there are still plenty of companies hiring.  So what do you do?  Is this a good time to look for a new job and how should you navigate your search?

2021’s job market was insane!  I’ve been in the industry since June 1, 1998 so I have been through it! Last summer, my recommendation to candidates was, “If you have a dream company/position that you won’t get at your current company, this is the time to go for it”.   I stand by that.  I also gave this advice, “If you are happy at your company or don’t necessarily want to leave but have a few asks, talk to your managers and express what you want without going through the whole counter offer rigamarole. This is the time to do that.”  I stand by that.  When asked about accepting a counteroffer, I have and will alway say “ Don’t!”.  I stand by that.  DM me if you want to go into the many, many reasons why.

If you were a person who stayed at your employer, brought up things you wanted, but didn’t go as far as interviewing/getting a counter offer, then you are likely in a great position.  You are a loyal employee, you value your employer and they value you. 

What if you recently started a new job? Many people accepted new roles last year with significant salary increases. This is not to say that these employees are not worth the bump in pay, but with inflation and a recession potentially looming, it seems like an easy decision for an employer if they need to make changes.  If you’re in this scenario, what should you do? Do your best to feel out your current employer.  It may be just fine.  If you feel that it’s time you look for a new opportunity, look at companies who are stable. Look at companies who have been in business for a few decades and in an industry that has been through a few economic cycles.  Are they public or private?  How many layoffs have they had in the past?  What were the reasons for past layoffs?  Why is the position you are interviewing for open? Be prepared to explain why you are on the market and left previous jobs.  Keep your LinkedIn profile updated and stay active on LinkedIn and other social sites that may be beneficial to your industry.

What if you are a regular job seeker?  This is the person who would be looking for a new opportunity, not because of the job market but because of the natural progression of their career.  At this moment, my advice is “proceed with caution”.  There are definitely opportunities out there, but take the time to ask your questions, meet the people and make sure this is the place/role that you truly feel is an upward move for you.

Oh, for those of you who accepted counter offers…If you talked to me about it, I definitely told you not to accept a counter and I will definitely say “ I told you so!!”.  That said, I get it and am happy to chat with you again, (with a sigh, and will probably say I told you so again)!

To close, while this market is wildly different from the same time last year, it’s still exciting but in it’s own unique way.