THE BEECHMONT CREST CAREER GUIDE:
SURVIVING AND THRIVING IN THE CORPORATE JUNGLE
Chapter 3: Organize, Market, and Sell Yourself
Pick the best time to switch jobs
“Timing is everything.”
-anonymous high school basketball coach
The law of supply and demand governs nearly every aspect of human of activity. When the demand for a particular good or service is high, providers of the good or service can charge a higher price. When demand declines, the price of the good or service must decrease as well.
The law of supply and demand applies not only to cattle farmers, credit card companies, and oil refiners, but also to job seekers. Corporate employees provide services to corporations. When the economy is booming and business activities are at peak levels, the demand for the services of corporate employees is also high. Employees can then charge a higher price (salary) for their services—just like Exxon and British Petroleum can charge more for gas during the summer driving season.
In the same manner, when the economy is weak, there is less demand for the services of employees. The situation snowballs as unemployed workers flood the market following corporate layoffs and reduced hiring. As a result, salaries decrease. The seller’s market becomes the buyer’s market.
It therefore follows that you should change jobs when the economy is strong, and stay put when the economy is weak. Of course, this will not always be possible, but you should always keep the overall economic environment in mind when anticipating a change in your employment situation.
Hedge against uncertainty…..
A strong economy also provides a bit of a hedge against the uncertainty that is inevitable in any new job situation. What if the dream job offer turns out to be a nightmare? You will have the best chance of rebounding quickly to another opportunity when the job market is strong.
Copyright 2006 Beechmont Crest Publishing