Free Advice for Job Seekers

Summary

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WSJ Your Money Briefing: “Free Advice for Job Seekers”

Date: December 28, 2017
Host: JR Whalen (B)
Guest: John Challenger, CEO of Challenger, Gray & Christmas (C)

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Episode Overview

This episode focuses on the challenges many Americans still face finding a job, despite unemployment being at a 17-year low at the end of 2017. JR Whalen speaks with John Challenger, CEO of the outplacement firm Challenger, Gray & Christmas. The firm is temporarily offering free live advice to job seekers. They discuss obstacles common among job hunters, effective strategies, and the hiring outlook for 2018.

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Key Discussion Points & Insights

Current Job Market Landscape

• Unemployment is at a 17-year low (circa 4.1%), but many still struggle with unemployment or tough job transitions.
• John Challenger points out that even in a strong economy, “there are always people who are losing their jobs and making transitions. There are people who get stuck in long-term unemployment and just have difficulties.” (01:12)

Job Search Obstacles

• Many job seekers encounter specific hurdles, such as:
  • Explaining previous job departures during interviews.
  • Discussing salary expectations effectively.
  • Struggling with networking and lacking responses to resume submissions.
• “For some people, it’s how to answer a question like, ‘Why did I leave my last company?’ that seems to keep tripping me up, or how do I handle the issue of money when it comes up in the interview. For others, it’s just ‘I can’t seem to find anybody to talk to other than just sending my resume out and I’m not getting any response.’” (01:59, John Challenger)

Outdated Job Search Methods & The Importance of Online Presence

• Sending out mass resumes is no longer effective.
  • “Just sending out reams and reams of resumes is really not the way to go about it.” (02:27, JR Whalen)
• Challenger stresses the importance of an updated LinkedIn/Facebook profile:
  • “Today especially, we’re finding up to a third of people don’t have updated LinkedIn, Facebook profiles and today that’s so crucial more than ever because companies can always access their resume. If that resume, that work history is online, if it’s not, often they go to the next candidate.” (02:35, John Challenger)

Helping Diverse Job Seekers

• The hotline serves people from a wide range of backgrounds:
  • Long-term unemployed, often isolated in hard-hit neighborhoods.
  • Veterans struggling to translate military skills to the private sector.
  • Job seekers in small towns with limited opportunities.
• “We do hear from people [...] from veterans who feel like they just can’t seem to translate their skill sets from the military into the private sector, from people in small towns where there’s just no job seemingly available.” (03:14, John Challenger)

Resources & Support

• For those who miss the hotline, Challenger directs them to their website:
  • “Always go to our website, which is www.challengergray.com.” (03:47, John Challenger)

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Hiring Outlook for 2018 (04:13–05:23)

• Strong job market continues:
  • “It is a very strong job market right now. Unemployment this year has dropped from 4.6% last November to 4.1% this year. We expect more of the same, more jobs that will be created.” (04:13, John Challenger)
• Strategic advice on job security:
  • “This is an important time to land your job, to get your anchor in place. When the recession does hit, you want to have a solid firm job that protects you against the layoffs that inevitably occur.” (04:25, John Challenger)
• Demand for key skills:
  • Companies especially need people with technology skills, multilingual ability, and adaptability/mobility.
  • “Hiring managers right now are in real need of people with skills, of course technology skills, but also people who can speak multiple languages, people who are adaptable and can move from one part of the country to another.” (04:45, John Challenger)
• Hot sectors:
  • “Technology, healthcare, and finance, all of which are creating jobs right now at a strong clip.” (05:15, John Challenger)

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Notable Quotes & Memorable Moments

• On persistent struggles:
  • “There are always people who are losing their jobs and making transitions. There are people who get stuck in long-term unemployment and just have difficulties.” (01:12, John Challenger)
• On modern job searching:
  • “Up to a third of people don’t have updated LinkedIn, Facebook profiles and today that’s so crucial more than ever.” (02:35, John Challenger)
• On resiliency for future downturns:
  • “Get your anchor in place [...] when the recession does hit, you want to have a solid firm job that protects you against the layoffs that inevitably occur.” (04:25, John Challenger)

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Timestamps for Important Segments

• Job Market Landscape & Persistent Struggles – 01:12
• Callers’ Common Obstacles – 01:59
• Why Updated Online Profiles Matter – 02:35
• Diversity of Hotline Callers – 03:14
• Resources for Job Seekers – 03:47
• 2018 Hiring Outlook – 04:13
• In-Demand Skills and Hot Sectors – 04:45, 05:15

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Summary Takeaways

• Despite a strong economy, job search frustrations remain common, especially for long-term unemployed, veterans, and those in low-opportunity areas.
• Modern job search success depends on a strong online presence and networking, not just mass resume submissions.
• The best opportunities are in technology, healthcare, and finance for those with adaptable, up-to-date skill sets.
• Job seekers are encouraged to secure stable roles now in anticipation of future economic cycles.
• Challenger, Gray & Christmas temporarily offers direct advice, but also maintains ongoing resources for job seekers online.

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Transcript

[A]

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[B]

This is yous Money Matters from the Wall Street Journal. Welcome to youo Money Matters. I'm JR Whalen in New York. We enter 2018 with unemployment at a 17 year low, but despite that, there are many Americans struggling to land a job or finding it difficult to switch jobs. The outplacement firm Challenger, Gray and Christmas is suspending its normal business operations this week to offer free advice to callers from around the country. CEO John Challenger joins us to discuss. So John, we keep hearing the country is at near full employment, but there are still folks having difficulty finding a job.

[C]

There are always people who are losing their jobs and making transitions. There are people who get stuck in long term unemployment and just have difficulties. There are people in jobs who it's just not what they want. It's not working out. It's hard to find a job while you're working. And so always there are people who just need extra support during this time.

[B]

That's John Challenger joining us via Skype here on youn Money Matters. Now you're offering this service on December 27th and 28th until 6pm Eastern Time. On the 28th, people can call area code 312-422-5010. We'll repeat that number in a moment. But but what kinds of advice and guidance have callers been asking for?

[C]

Well, each person we try to zero in on what seems to be the main obstacle that's getting in the way of their finding the job they want. For some people, it's how to answer a question like why did I leave my last company that seems to keep tripping me up or how do I handle the issue of money when it comes up in the interview. For others, it's just I can't seem to find anybody to talk to other than just sending my resume out and I'm not getting any response.

[B]

And one of the things that the company points out is that just sending out reams and reams of resumes is really not the way to go about it.

[C]

It's so true. And today especially we're finding up to a third of people don't have updated LinkedIn Facebook profiles and today that's so crucial more than ever because companies can always access their resume. If that resume, that work history is online. If it's not, often they go to the next candidate.

[B]

The hotline number again that people can call for the free job advice is 312-422-5010. In past years, John, you've heard from people from a broad range of backgrounds who are seeking out some assistance.

[C]

We do hear from people who are long term unemployed, sitting in neighborhoods in the middle of cities where it's just hard to get jobs, from veterans who feel like they just can't seem to translate their skill sets from the military into the private sector, from people in small towns where there's just no job seemingly available. So with each individual, we try to figure out some solution to their problem.

[B]

And if folks aren't able to call the free job advice hotline in time, where else can they find some key information?

[C]

Always go to our website, which is www.challengergray.com.

[B]

we're speaking with Challenger Gray and Christmas CEO John Challenger. And how's the 2018 outlook for jobs? We'll get to that in a moment. You're listening to youo Money Matters from the Wall Street Journal. Welcome back, everybody. So, John, as far as the hiring picture is concerned for 2018, it definitely looks like it's good news for job seekers.

[C]

It is a very strong job market right now. Unemployment this year has dropped from 4.6% last November to 4.1% this year. We expect more of the same, more jobs that will be created. This is an important time to land your job, to get your anchor in place when the recession does hit. You want to have a solid firm job that protects you against the layoffs that inevitably occur.

[B]

And the company has been surveying hiring managers. What are they telling you?

[C]

We're finding that hiring managers right now are in real need of people with skills, of course, technology skills, but also people who can speak multiple languages, people who are adaptable and can move from one part of the country to another. That kind of skill sets, those flexibility skill sets are very important today.

[B]

And health care and finance are also fields in need of employees. In addition to technology, the sectors that

[C]

seem to be the hottest are technology, healthcare and finance, all of which are creating jobs right now at a strong clip.

[B]

And once again, that phone number that you can call for the free job advice. 312-422-5010. That's, that's Challenger Gray and Christmas CEO John Challenger joining us via Skype. John, thanks so much for being with us.

[C]

Thanks for having me.

[B]

And thank you for listening to your Money Matters. I'm JR Whalen in New York for the Wall Street Journal. Is Alexa part of your life?

[A]

Then make your Money matters part of

[B]

your Flash Briefing on the Amazon Echo the Wall Street Journal. Listen ambitiously.

[A]

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