In an August 20th article in the New York Times, Paul Lim noted that companies are spending – just in a less noticeable way. Dividends are increasing. Corporate acquisitions are taking place. This is a much less visible use of cash than increasing payroll, but it is a positive indicator. Brian G. Belski, chief investment strategist at Oppenheimer & Company notes “it indicates that companies are more confident in the economic recovery.” No one knows if this type of spending will be enough to pull the economy out of its rough patch, but it is a positive sign.
If you are in an active job search, how will this impact you? Duncan W. Richardson, chief equity investment officer at Eaton Vance, says that “this is very different than 2008,” as companies are in much better shape today. As for job creation, Mr. Richardson says it always tends to come in the later stages of an economic expansion. Assuming this is an indication that things will shortly get better, what should your strategy be during the next 60 days?
With summer rapidly becoming a memory, many organizations will “return to business” after Labor Day. Now is the time to refresh your job search. How long has it been since you touched base with your network? Here are some suggestions to add energy to your efforts:
- Write an email to those people in your network – just as a “catching up” document, and to remind that you still are actively in a job search.
- Identify 10 new organizations that you would like to network into, and that it “makes sense” for them to be interested in you as a candidate
- Use networking tools to identify people who can help you make contacts in those organizations
- Reach out again to the recruiters in your network
- Ask those in your network what you can do to assist them at this time
It is almost like you are launching your job search again. There usually is a change in how most people look at their organizations after the summer. Use this as an opportunity to enhance your search activities. And remember, do it in their 90%!
For the next few weeks my blogs will focus on practical suggestions and ideas that will help those in an active job search be more effective. Hope you find these helpful. Would love to hear about how they are contributing to your efforts. Also, please share with our readers any suggestions you have found beneficial.