Thinking about career progression?

Results from our recent poll suggest that 57% of job seekers find that the current economic uncertainty is one of the biggest barriers to their career progression in today’s market. This can definitely impact confidence which is really essential for both the job seeker and the hiring team.

21% feel there is no culture of progression and another 21% feel like other factors such as Brexit is their biggest barrier. Brexit has been problematic for the sector for a while, and we have definitely seen a decrease in applications from mainland Europe over the last few years.

Economic uncertainty however shouldn’t necessarily stall hiring and career progression, its important to review your career and keep focussed on your plans. Here are some points to consider to help reinstate some confidence into your career and hiring plans:

For Job Hunters:

1. Economic crises often lead to shifts in the job market, creating new opportunities that didn’t exist before. Industries and companies may pivot, opening up roles that are crucial for their new strategies and operations.
   
2. Actively seeking career advancement encourages continuous learning and skill development. This not only makes job seekers more competitive but also prepares them for future opportunities when the economy recovers.
   
3. The process of looking for new opportunities keeps job seekers engaged with their professional networks. Networking can lead to unexpected opportunities and keeps individuals informed about industry trends and potential job openings.
   
4. Pursuing career advancement keeps job seekers motivated and focused, which can be psychologically beneficial during tough economic times. It helps maintain a proactive and positive mindset, which is crucial for personal and professional growth.
   
5. Those who continue to pursue advancement are often seen as more resilient and adaptable by employers. This can set them apart from others who may be more passive, making them more attractive candidates for new roles.
   
6. Career advancement contributes to personal satisfaction and fulfillment. Achieving new goals and overcoming challenges can boost self-esteem and overall well-being, which is especially important during stressful times.
   

For Hiring managers:

1. During uncertain times, attracting and retaining top talent becomes even more critical. Companies that continue to hire and invest in their employees can gain a competitive edge by securing skilled professionals who can drive innovation and adaptability.
   
2. Hiring and developing employees during economic uncertainty helps build a resilient organisation. Companies that focus on strengthening their workforce are better equipped to navigate challenges, adapt to market changes, and seize new opportunities.
   
3. Career progression and opportunities for advancement are key to maintaining high employee morale and engagement. When employees see that their company is committed to their growth, even in tough times, they are more likely to stay motivated and productive.
   
4. Companies that invest in their workforce during downturns are better positioned for long-term growth. They can quickly capitalise on economic recovery, as they have the necessary talent and skills in place to drive expansion and innovation.
   
5. Diversifying skills and capabilities within the organisation can mitigate risks associated with economic uncertainty. A well-rounded and continuously developing workforce can adapt to various challenges and ensure business continuity.
   
6. Companies that continue hiring and developing their talent can improve their market positioning. They demonstrate confidence and stability to customers, investors, and other stakeholders, which can enhance their reputation and market share.
   
7. Economic uncertainty often demands innovative solutions and new ways of doing business. A dynamic and growing team can bring fresh ideas and perspectives, fostering a culture of innovation and helping the company stay competitive.

By maintaining a focus on hiring and career progression during economic uncertainty , companies not only navigate current challenges more effectively but also position themselves for future success and sustainability.

Connect with our team to discuss your hiring strategy or career development plans today!
T: 020 7637 1300