Bottom Line

by A. W. Fleck

“Tassels left, Seniors!”

Okay, so maybe I’m getting a little ahead of myself. But you’ve spent the last four to six years working towards a significant accomplishment – graduating from college! And while you should be celebrating this milestone with stage walks and parties, thanks to Ms. Rona, not only has your commencement been canceled, but you’re set to enter a job market that has fundamentally Changed.

No, that capital “C” was not a mistake. According to the U.S. Bureau of Labor Statistics: “A general slowdown in economic activity, a downturn in the business cycle, a reduction in the amount of goods and services produced and sold—these are all characteristics of a recession.” (https://www.bls.gov/spotlight/2012/recession/)

From December 2007 to June 2009, the U.S.’s last recorded recession, unemployment peaked at 10 percent. As of April, we had already reached a rate just shy of 15 percent. And if Goldman Sachs’ predictions are correct, we could see rates as high as 29-35 percent before this is all over. For context, U.S. unemployment peaked at 23 percent during the Great Depression of the 1930s. With this information in mind, I’d like to encourage you to think outside the box and reset expectations around your first, career-mobilizing job.

There’s a common misconception that the first destination out of college should be a Dream Job. But what puts a job up on that lofty pedestal? Is it the position title? Is it the company? Is it the salary? How can you take a solid step forward without sacrificing everything you’ve worked so hard to achieve? Here are three tips to help you adjust your job search for the current hiring landscape:

All Industries Are Created Equal

You may have had a particular goal in mind throughout your senior year, your Dream Job. You worked hard, passed your classes, secured that diploma—and now the market is in crisis. By putting in the work on the Next Best Thing, you can still take a quality step towards your Dream Job. Companies in the finance, health, and education sectors are among the industries least affected – and many are still actively hiring. Whatever role you had hoped to secure, modify your search to include a similar role in an industry you haven’t considered. Now is the perfect time to color outside the lines you’ve drawn for yourself, build up your skills, and discover the new, ‘professional’ you!

All Jobs Lead to Home

Young millennials and generation Zers want more from their career. They crave purpose and work they’re passionate about. So while the job hunt used to be more: “I’m not picky about where I work, so long as I am a tax accountant,” or “I’m not picky about the role, so long as I get a job with Prudential,” there’s a new strategy in town. Fit Factors.

Fit factors are the need/want-to-haves in your future workplace. By exploring your fit factors, you approach your job search with a company-first mindset. Some common things to consider are company size, the mission & values that drive the work, company culture, benefits, dedication to inclusive hiring, and more. If Citibank is at the top of your list, it’s not because you’ve seen their bikes all over town. It’s because, as a first-generation college graduate, their multiple pipeline programs for students with underrepresented identities resonate with you. This method allows you to focus on the specifics of what you’re looking for, ensuring each rung on the ladder of your career is just as rewarding as the last.

Not All Quarantines yield the same results

Recently I attended a virtual panel put on by Streetwise Partners on navigating the current hiring landscape. Knowing the average job search timeline was likely to shift in response to the pandemic, I thought it would be interesting to hear from H.R. professionals who could speak to best practices for current job seekers. One of the most important pieces of information that came out of the event was the likelihood that the question “What did you do during the pandemic?” would be a new addition to interviews.

Immediately my thoughts jumped to those who haven’t been able to move forward, business-as-usual. It can feel like there’s a lot of pressure to trek forward in the same ways we were two short months ago, despite an unprecedented new normal. How do you balance professional growth and momentum with being kind to yourself and making room to be less than okay? And is this something recruiters will take into account when hiring?

One of the panelists described crisis as the intersection between danger and opportunity. So, if the pandemic is the danger, the steps you take in the next 6-12 months are your opportunity. Searching for full-time employment is a natural thought, but if it feels like too much, what else can you do to level up your skills? This could be as simple as taking a free online class or as complex as cultivating a new mentor. Whether you use this time to organize your life or work your way through a stack of nonfiction reads, you have the power to come out of this with new doors open to you.

In short: Congratulations, seniors! Remember, hard work and humility go a long way. Whether it’s improving your soft skills or working a non-dream job until the landscape improves, this is still your time. We here at Bottom Line salute your accomplishment and welcome you to this next, exciting chapter of your lives.