The job market is dead for executives

This is just one of many emails we have received in the past months. As it’s a very good example, we’d like to share with you our response to it.

“Dear Career Angels,

Here’s some statistical numbers based on my job search:

I have contacted 33 companies. So far, I have received 19 replies (follow-up emails were sent 10 days after 1st email). 2 companies indicated that they would come back to me for further talks as they currently had no relevant open position.

I have also contacted 38 headhunters. 24 replied so far. I had 3 general “get to know each other” interviews with them.

I’m going to follow up at the end of XXXX by sending LinkedIn invitations to contacts that were generated, but never replied.

It appears that the market is currently dead… I can’t see any changed season or post-corona demand…”

Dear candidate, we hear you!

The job market was already competitive before COVID-19. Times are unusual and if you want to be successful in your job hunting, you need to put even more effort and method into it.

Let us now pick out fragments of the email, so we can comment on them directly.

I have contacted 33 companies. So far, I have received 19 replies (follow-up emails were sent 10 days after 1st email). 2 companies indicated that they would come back to me for further talks as they currently had no relevant open position.

The most important aspect: this is a statistical approach which means that 33 companies are definitely not enough. Our recommended scope is 90 companies to start with. In CV-19 times, some of our clients need to extend it to 120.

The average numbers based on our data:
• response rate (RR) of 30-50%
• interview rate (IR) of 5-10%

When calculating RR or IR, we divide effectively contacted people by all. The definition of effectively contacted is: you have sent 1st email and the follow-up email. In other words, the more companies you contact, the higher the number of replies and interview requests you receive.

After you contact min. 60-90 companies, you should start receiving offers.

I have also contacted 38 headhunters. 24 replied so far.

Your RR: 24 ÷ 38 * 100 = 63% – that’s above average! Well done!

I had 3 general “get to know each other” interviews with them.

Interview rate (IR): 3 ÷ 38 = 8%. That’s average. Also good.

Note: most “get to know each other interviews” are never what they seem to be. Depending on how you present yourself, the companies will disclose their current or future projects. Take the opportunity to receive feedback and ideas on what other companies to add to your list.

I’m going to follow up by sending LinkedIn invitations to contacts that were generated, but never replied.

Perfect! Remember also Xing.com if those contacts are based in Germany, Austria or Switzerland.

It appears that the market is currently dead… I can’t see any changed season or post-corona demand…

Your KPIs indicate “normal”. Our data shows the biggest difference currently is having to contact more companies than usual (up to 120) to generate 2-3 good offers.

Summarizing, what you need to do is “simply” more of the same. Contact more companies & alternative decision makers where there was no response. Like Dori said to Nemo, “Just keep swimming!”.

If you are a manager or executive with min. 10 years of experience who needs help in reviewing their KPIs or simply wants to discuss their job search strategy, you can request a free career consultation by clicking here or sending an email to Bichl.Sandra (at) CareerAngels.eu. Subject: Career Consultation.