The dynamics of the post-pandemic economy has millions of Americans thinking about switching employers. Workers who hunkered down during the pandemic are now looking to be part of the so-called “Great Resignation.” Should you be one of them?
The precise answer to this question depends on your particular circumstances. However, you should definitely consider it. The economy has entered a unique stage, which could present the perfect opportunity for you to jumpstart your career.
At the same time, there are plenty of longer-term concerns that could prompt you to look for another job. You don’t need to chase the job market just because it seems favorable. But you should constantly evaluate your situation and ask whether you can do better.
With that in mind, here are five reasons to start looking for a job right now:
It’s a Great Labor Market
Let’s do a quick historical review. Following the Great Recession, the unemployment rate trended lower for the greater part of the 2010s, reaching multi-decade lows as the economy entered 2020. We all know what happened then. COVID. Shutdowns. A massive spike in the unemployment rate.
Now that the economy is finally reopening from its COVID hibernation, the labor market is roaring back. The unemployment rate has fallen to 5.2% — not yet to pre-pandemic lows, but well off the double-digit levels seen during the worst of the pandemic.
All this points to a loosening labor market. That means you can have a choice of jobs that might not have been available in 2019.
Pay Rates Are Rising
A strong labor market doesn’t just mean that jobs are available. It also means that companies need to compete for the best talent. The result? Higher pay rates.
The post-COVID reopening has led to a substantial rise in salaries. However, if you stay put, you might not be able to take advantage. Look for a new job today in order to capture the increased compensation available.
Keep Your Career Momentum Going
Imagine you’re a hiring manager looking at your resume. Does it get you excited? Are you ready to offer a job based solely on the list of experiences and accomplishments?
Probably not. Few people have that kind of killer resume. However, you should try to get as close as possible. Look for ways to add experience and stretch your skillset. That way, you’ll keep getting better jobs as your career unfolds, rather than end up in a series of lateral moves.
You Should Always Hunt for New Challenges
It’s easy to get comfortable in a routine. You get lulled into complacency by grinding through your day-to-day schedule. You earn some money and look forward to the weekend.
However, you have to take a long view. The economy evolves quickly and you want to be ready for whatever comes.
As such, keep looking for new ways to challenge yourself. That way, you can break out of your routine and prepare yourself for faster career development.
You Might Find Your Dream Job
Sure, you like your current position just fine. You might even like it a lot. But do you love it? Do you think it will unlock your true potential?
That ideal job might not exist. Or, even if it does, it might not be available right now. But you don’t want to miss it if it is.
Just remember: looking for a job isn’t the same as suddenly quitting your stable gig and taking a huge leap into uncertainty. You can keep the safety net of your current position and still see what else is out there. And you could get lucky and find your dream job.
When you’re ready to take the next step on your career path, a top recruiter, like SmartTalent, can help. You’ll find the perfect position for this stage in your professional development.
Contact SmartTalent today to learn more.