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Graduates will change tactics in a tough
market There is a rising need for graduates to differentiate their approach to job-hunting as they face the most challenging labour market conditions in more than a decade. The Australian Bureau of Statistics confirmed the youth unemployment rate increased to 24% earlier this year as graduates and recent school-leavers continued to feel the impact of the financial crisis. To increase their chances of success, graduates are being advised to apply for roles with a greater number of employers and to think carefully about career development activities they can participate in while looking for work. Rameet Chowdhary is director of Red Giraffe Recruitment & Search and has seen many organisations respond to the economic downturn by shifting their focus from the acquisition of new talent to retention. "We're seeing more employers become increasingly risk-averse. The general graduate population will struggle to source employment opportunities in the current market, but for those willing to step outside their comfort zone, up-skill themselves and re-think their approach, this is a time when opportunities will present themselves," he says. Chowdhary's advice to job-seekers is to think creatively about their approach to gaining employment and to adopt the right attitude when interacting with potential employers. "Differentiate yourself and stay positive. The cheapest commodity in the current market is pessimism, and employers will gravitate towards those individuals with energy that are confident of their ability and optimistic about the opportunity presented," he says. To assist graduates stand out from the crowd Chowdhary has built the Platinum Job Skills Program to provide job-seekers with an edge as they search for a permanent role. "Candidates volunteer themselves for a set period in the pursuit of industry exposure. Along the way they receive the knowledge and tools to differentiate themselves at every stage of the application process and it allows them to step outside the orthodox approach to finding employment," he says. Author and Generation Y expert Peter Sheahan points out the contrast in experience between today's graduate and uni-leavers who sought employment during the economic boom. "If you're in your final year of school or uni, you are going to have a fundamentally different outlook on the world than those who came out three or four years prior. If you were in financial services three years ago, you would have said 'look how easy work is - I just got four offers.' Now you're graduating and if you can get a gig anywhere you're doing well," Sheahan says. Sheahan has noticed graduates opting to take various paths after completing their degrees where they are unable to gain immediate employment. "Some of them are delaying entry to the workforce and you're seeing them go back into further study. Others are seizing the opportunity to travel, but if they think they're going to find work overseas they've got another thing coming - there's investment bankers pulling beers in London!" he says. Sheahan believes the difficulty graduates face in securing full-time roles will lead them to explore unconventional ways to mark time until the labour market improves. He mentions the innovative promotion being run by spirits brand Malibu for 18-24 year olds to spend two weeks learning about marketing in the Caribbean and New York as an executive product taster. "Things like that are going to be really attractive to young talent right now who are going to say alright it's hard to get work - having another six months on my resume in a pub is really not going to stand me out of the crowd. What unique, maybe once in a lifetime things can I do while I've got the time and I'm not in the linear process of career development," he says. While not going to the extreme of volunteering overseas, Chandri Jayathilleke decided to take a creative approach to job-hunting after meeting with various recruitment consultants who said most of their vacancies were for more senior roles. "I have been unable to find a position and most of my peers are in a similar situation. Some have decided to remain in the hunt for jobs, whilst keeping a part-time position that may or may not be related to their field of study, and others have decided to see off the economic slowdown by pursuing further qualifications." Jayathilleke recently graduated in economics and finance at the University of Sydney in 2008 and while she continues to apply for graduate positions, she is taking a proactive approach to job-hunting by participating in the Platinum Job Skills Program as a volunteer in a financial services business. She says "I feel I have learned a lot more about the wealth management industry and I have gained some valuable experience that I hope will secure me a permanent position." Hints and tips for graduates Think creatively about opportunities to gain hands-on experience Stay positive - optimism is a rare attribute in this market Differentiate yourself - employers want energy, creativity and potential Prepare, prepare, prepare - commit yourself to the job-hunting process Develop your critical communication skills such as persuasion, influencing and negotiation Persevere - persistence pays and provides a competitive edge in a tough market Source: Human Capital Magazine |
