EGM On A Mission: Let’s Build Better Companies
Gone are the days when a person left education, found a secure and comfortable job – and then spent 45 years working in their role.
Recently, the ‘Australian Institute of Business’ reports that the average job tenure across all sectors currently stands at 3.3 years – and it’s decreasing.
For workers over the age of 45, the average tenure is running at 6 years and 8 months.
While for the under 25s, it’s a meagre 1 year 8 months.
Of the 13.8 million people employed in Australia in March 2023m 3.9 million (about 28 per cent) had started their job in the previous 12 months. (Sydney Morning Herald).
But are times about to change?
The immediate future for the Australian economy, along with other developed economies, remains uncertain. Inflation is stubbornly high – and the full impact of the interest rate rises carried out earlier in the year is still to fully come through.
Geo-political issues present more uncertainty.
And recently, according to data from Seek ANZ, almost all sectors of the Australian economy reported declines in the number of job vacancies in September 2023, (only science and technology recorded an increase). Engineering, financial services and consulting saw the largest declines.
So, in a jobs market that may be heading into stormier weather, we wanted to provide some tips to those of you who will be looking for a new role in 2024, in order to help you get the best position possible.
We hope you find the tips useful.
Job Hunting Strategy
When you’re hunting for a new role, the biggest challenges are always knowing where to start, how to get organised, and figuring out the most effective way to approach your job search.’ (Forbes magazine).
Identify clear goals – list the kinds of roles, industries and companies you’re interested in. what’s important to you in your next role? What will success look like in your search?
If you’re not currently working, plan your job-hunting day the way you’d plan a business day – investment of time and focus are key. Build a sustainable schedule in which you balance searching for a role with self-care so you don’t go completely crazy and burn yourself out. Staying organised is essential to this process.
Adopt a marketing / business development strategy approach – identify and co-ordinate actions, plan follow up, measure results and identify lessons learnt.
Allocate a time each week to review progress and define actions for the coming week – this will help you keep on track.
Reach out to your network – include colleagues you have worked with in the past and professional and personal contacts – make your network aware you’re looking - word gets around. Speak regularly to your contacts about progress. Be mindful of contacts who can make introductions to companies you would be interested in working for.
Remain positive at all times – things can change very quickly on one phone call - lift yourself up, believe in yourself and don’t be reticent in promoting yourself.