Woman prepared to interview during a tough economic time when there are layoffs and hiring freezes
The United States has been accustomed to a hot job market with plentiful jobs and an abundance of interviewing opportunities. Over the last year, the job market offered so many opportunities that there were months when 4 million Americans quit their jobs, feeling confident that they'd find a better opportunity.
Economic and geopolitical events will most likely change the job market landscape. Record-high levels of inflation, the Federal Reserve Bank stopping its policies that pushed vast sums of money into the economy, the Biden administration curtailing financial stimulus packages to families and other events will have a deleterious impact on both the consumer and companies.
As costs significantly increase, businesses need to pass it on to the customer. Tech companies have already initiated hiring freezes and job cuts to save money, hunker down and get through this new, more austere period. The spigot of venture capital funding will be tightened.
Fortunately, there are still more than 10 million jobs available. We need to keep a watchful eye out for the JOLTS report that provides the data on the number of roles available, as it may soon show fewer jobs open.
The result of all of this is that when you are interviewing, it’s likely to be harder, with more meetings that lead to nowhere. Since the future is cloudy, executives are not sure what to do, so they’ll slow-walk the process. It will be easy for businesses to dump the extra work on the current employees and wait to find the perfect candidate who will accept a lower compensation package. Here is what you need to know while you are interviewing to keep your sanity.
Mentally Managing Rejection
No matter how successful a person is, there is always rejection in their journey. If you are once again turned down for a job, take some time to accept, process and grieve. After a short while, dust yourself off and start again.
There is nothing to be ashamed about. People get rejected all the time. An all-star athlete is traded to another team. A popular politician is voted out of office. Famous actors get rejected for roles all the time.
Try to learn how to be resilient. After feeling bad, you need to focus on bouncing back. To do this, avoid fixating on the loss. Be honest with yourself. Think of anything you did or didn’t do, which could later serve to improve your next interview performance.
The good news is that interviewing is a numbers game. The more interviews you go on, the higher the chances you have of finding a new job. This is why you need to brush yourself off and get started right away. As you attend more interviews, you’ll improve your performance. You’ll start anticipating commonly asked questions and be armed with great answers.
It’s helpful to cultivate a supportive network to share your feelings. You’ll likely hear the same stories from them too, as it's not unique to get rejected. Try to keep a sense of humor and perspective. There will be other jobs. You may end up finding a job that is far superior to the one you lost out on. In hindsight, the rejection was the best thing that ever happened to you.
Adjust Your Expectation
If a colleague interviewed and found a job three or six months ago, their experience will not be similar to what you will be going through. It will take longer, you’ll lack feedback and get ghosted. There is a good chance you won’t receive an offer. If you do, it may be substantially lower compared to what your coworker received.
On the positive side, you can take solace in the fact that it’s not just you that is experiencing this new change. Nearly everyone else will be in the same position. This may not make you happy, but at least you’ll know that it's not your fault.
You Need To Remain Confident
When the job market swings dramatically from buoyant to somewhat challenging, it can be jarring. It's easy to start feeling dejected after not obtaining invitations to interview or constantly coming in second or third place. After a while, it’s easy to start losing confidence. After taking so much time and energy to interview, not receiving offers can damage your self-esteem.
You need to practice positive self-talk. This entails continually reminding yourself of all of your great qualities. Keep in mind all of the times you triumphed over adversities. Think of your reasons for going after this new role. It could be because you’re trying to earn more money to provide a better life for your family. This powerful reason will help you power through the difficulties of interviewing and getting rejected.
Accept The Change
If you’ve been accustomed to easily finding jobs, it’s natural to become complacent. In a blazing hot job market, you don’t have to try as hard, since hiring managers desperately need the help. Their standards will be lowered and expectations not too high. This is changing due to the new reality. You now must bring your A-game to the interview.
You need to study the job description and prepare an elevator pitch that shows you possess all of the requisite requirements. Search LinkedIn to learn all about the people who will be interviewing you. Use the profiles to consider mutual commonalities that will enable you to quickly bond with them. Ask your recruiter for all the insider information about the company, the hiring personnel, corporate culture, compensation ranges and what they are looking for in a candidate. See if you know anyone at the organization and ask them to put in a good word and recommend you.
Role-play interviewing with trusted friends and peers. Ask for constructive criticism. You may have been too casual, as the job market was hot. That attitude won’t work in a cost-cutting environment.
Think Of Interviewing Like A Marathon
Interviewing during tough times is hard. Getting rejected hurts your ego. It is easy to give up. Instead, frame the process as a marathon. It's actually, at times, more akin to a Tough Mudder competition, along with a decathlon.
Just as top athletes need to be in peak condition to perform, you need to view interviewing similarly. Prepare and perfect your presentation. Make sure that you take care of yourself. Try meditation, affirmations, manifestations, yoga or whatever you like to do to get psyched up.
Rejection Stokes Passion And Great Achievements
Overcoming adversity can empower you to achieve great things. It is easy to let rejection get the best of you. The harder part is to learn from the experience.
The key is leveraging rejection in your favor. It could serve as the motivating factor to try again with greater vigor and passion. A Jedi-type mind trick is to feel that if you can rebound from a setback, still feel fine and have the people you love still care for you. You’ll be empowered and unafraid to take on new challenges. The lesson learned from rejection is that with the right mindset, it's only temporary, but can build your inner strength, which can help lead you to achieve great things in the future.
