With the typical opening line one can expect from Huffington Post, the author questions why American companies aren’t hiring:
“Corporate profits are up. Stock prices are up. So why isn’t anyone hiring?
Actually, many American companies are – just maybe not in your town.”
They basically write the same article once a week, criticizing US multinational corporations for hiring overseas, expanding overseas, outsourcing all while not expanding their ranks here in the US. I’ve seen some articles go so far as to practically want legislation to force companies to hire Americans. They question why US multinationals are sitting on so much cash while not hiring Americans. What never quite comes across in the liberal media, but is painfully obvious to me is that – there is NO CORRELATION at all. They are hiring because the future revenue growth is coming from emerging markets, NOT the US for many firms. Often times, these markets mandate a certain level of “local manufacturing” or headcount in order to sell there. If a company needs headcount to expand in a particular locale, they will hire. If they don’t, they won’t. Multinationals are leaving hoards of cash earned overseas without repatriating it because they don’t want to pay a massive tax bill that their competitors from foreign countries don’t pay. They aren’t hiring in the US for a multitude of reasons – productivity is up, the revenue outlook here is flat, healthcare reform is crippling to business, and more. This is the reality, so now, what are you going to do about it?
- Assess your situation – realistically – While it may seem tough to envision, your job may be relatively easy to outsource. Even if you’re going some sort of engineering services, legal function, reading X-Ray results or in a hot programming outfit, within years, there may be an English speaking equivalent willing to work for a fraction of your bloated salary to do the same thing – and work twice as hard doing it. This is the reality of a flattening world that the real-time internet and global competitive forces have brought upon us. Is your job really air-tight?
- Broaden Your Skill Set – Instead of maintaining the status quo and staying in “comfortable” jobs and avoiding pesky new assignments, go for those new experiences. Get a professional certification. Get a Six-Sigma Black Belt, Get an MBA, Do Something more than slow and steady. The more your company spends on you now and the more you broaden your skill set, the tougher it will be to let you go later. And you’ll have much more success networking and landing something later should the need arise. For people who have remained complacent and not broadened their skill set in recent years, it’s especially difficult to land a job once out of work.
- Target Future Growth Industries, not Yesterday’s Glory Days – If you have a choice between internal job opportunities or even if you’re jumping jobs or industries, tend to lean toward cutting edge technology, even if it’s at the expense of a lower salary, title, whatever. There are a lot of opportunities in old-world industry still, but the growth just isn’t there. Energy, Green-tech, biotech, social media – these industries are all exploding. If you can land something there and stay on the cutting edge and in-demand, you may look back fondly at the sacrifice you made in passing on a promotion in your same dinosaur industry or family owned business (when you’re not part of the family!). Think strategically, not tactically.
What Are You Doing to Stay In Demand?
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