250,000 people in this industry were laid off in Canada. Top 3 Job Search Strategies to Know in 2024.
In 2023, the labor market has changed dramatically, especially in industries with highly skilled workers. Compared to 2021 and 2022, there were fewer jobs and a significant increase in the number of layoffs.
Source: Taken by 51 reporters
According to a globalnews article, Tobi Oulwole, a career strategist and founder of TalentGap, said that he received many inquiries after 250,000 people were laid off in the tech industry alone last year.
"This has created an influx of people in the market who haven't actually looked for a job for five, 10, 15 years. The year 2023 is very interesting because the situation has changed completely. ”
Between layoffs and an uncertain economic outlook, many people suddenly started looking for work in the new year.
What should I do if I am made redundant?
Over the past year or so, it has become increasingly common to receive notice of layoffs or be laid off, as some companies cut costs through layoffs. These decisions are often made out of financial considerations, but the impact on the individual can include emotional trauma.
Sweta Regmi, a career counsellor, remembers being made redundant in 2017, when her position was laid off along with several others, and she was notified "over the phone within 1 minute".
"Remember, it's not your fault," she said. ”
Source: Globalnews
Regardless of whether the job search is forced (such as layoffs) or actively involved, Regmi recommends taking the time to assess the current situation and analyze strengths, weaknesses, opportunities, and threats with "SWOT."
She also suggests doing some deep reflection and a "soul search" to find out what the next move is. Whether it's switching careers to another industry, looking for a new role through upskilling or certification, or trying a new path like consulting or entrepreneurship.
Create your own brand
Oluwole recommends using AI tools to give your resume a makeover to ensure it contains keywords and structure that are appropriate for your field and the type of job you're seeking.
Resume review services used to cost as much as "$500 or $1,000". But now, there are tools and apps to create an account for free, and you can create an "incredible resume" for as little as $12 CAD.
Source: Globalnews
With quality resumes "flooding the market," Oluwole says it's time to upskill your soft skills to make sure you're ready for the interview.
In addition, he recommends boosting your personal brand online. His posts on LinkedIn have helped him grow several businesses.
He also shared tips for increasing productivity, negotiating for higher salaries, and analysis of labor market trends.
"My LinkedIn content has been viewed more than 140 million times, and because of that, I've received offers for roles that I can't actually even apply for, from VP of Sales to Director of Sales. ”
Regmi recommends adding "willing to work" on LinkedIn and making sure recruiters on the platform can easily learn about your expertise and experience.
"Understand the workforce trends in the market. There's a layoff tracker that tells you which companies are laying off employees and you can find out which ones are growing. Look at start-ups too, and don't just focus on top employers. ”
Build relationships
Both Regmi and Oluwole emphasized the importance of increasing their field by building relationships, as well as opportunities to be considered in positions that are not or will never be made public.
Arrive is a platform operated by RBC Bank Canada to help newcomers find jobs in Canada.
The platform says that about 80% of all open jobs in Canada are "hidden", a figure confirmed by many career experts.
Oluwole advises to be open to new job opportunities, regardless of the current employment situation. It's a small investment that could have a big payoff.
"No matter how comfortable you are at work, keep communicating and constantly searching. It only takes 15 minutes a day and can be life-changing if you find something new. ”