Understand trends so you know how to exert power during recruitment negotiations. In sectors of high unemployment, job seeker financial needs will be sacrificed for business profitability and sustainability.
Find Jobs in Trending Industries
If you look for jobs in industries that show least growth – you will be more open to an aggressive recruitment strategy that tries to undermine your value in a struggling sector.
Businesses struggling to survive in sectors that show little growth will try to negotiate your salary expectations down. Companies, such as Truworths, argue that applicants often think they are worth more and don’t attend interviews when they know the salary offers beforehand.
When you attend the interview, they pressure you into lowering your expectations or losing the opportunity.
Job Advert Warning
When you see job adverts that don’t disclose the salary range you must be careful. Information is withheld from applicants as it strengthens the employers position during a wage negotiation. Economists call this ‘asymmetric information’ – meaning that information is one sided and advantages the firm.
If you respond to a job ad for a company that withholds the salary information in an advert you must be aware that they do this to dominate you during a negotiation.
Organisations who hide information from potential applicants are letting you know they cannot be trusted.
Section 23 of the Constitution refers to our fundamental labour rights. Section 23(1) reads as follows: “(1) Everyone has the right to fair labour practices.”
Although you want to look for jobs in trending industries, don’t assume that you’re just going to walk into a fat salary.
If the job advertised a ‘market related salary’ then they intend drawing your attention to how low the salary can go. You must negotiate hard for a top market related salary in a growing industry. You must emphasize all the advantages you have to offer a company in a trending, competitive sector.
Market Related Salary
Poor performing industries usually drive market related salaries down as they are unable to provide competitive offers.
A ‘market related salary’ is based on what you are prepared to accept. If an applicant accepts a low wage they push the market rate down.
Struggling sectors cannot afford to pay competitive rates so you must decide if you want to help save the sector by working for a low wage or if you want to acquire new skills and seek employment elsewhere.
Job Applicants Must Have Transferable Skills
If you only have skills relevant to a shrinking industry, your potential employers will be under pressure to negotiate your wages down.
You want to know where the booming industries are so that you make yourself attractive to them and move out of a declining industry.
Globally, access to skills development and a workforce willing to be retrained are essential for economic success.
From Mining and Manufacturing to Finance and Government
The graphic below illustrates major shifts in industry growth and development.
In an article published by Business Tech, Career Junction said that as fewer job seekers are searching for work online, a more favourable employment market exists for applicants.
The Career Junction Index (CJI) represents online labour dynamics in South Africa.
Some sectors saw an annual decrease in demand, Career Junction said, with this trend particularly noticeable within the finance, ICT, business & management and architecture & engineering sectors.
The marketing, admin and sales sectors on the other hand saw a notable uptake in jobs year-on-yea.
Top Three Trending jobs and their salary offering in July 2017
- jobs in staff recruitment/selection
- GP: R15,241 – R21,640WC: R11,772 – R16,083
- client/customer support
GP: R12,350 – R17,231
WC: R12,418 – R16,087KZN: R12,064 – R15,816
- and financial analysis
- GP: R45,007 – R53,123
WC: R39,712 – R48,2504
- GP: R45,007 – R53,123
Trending jobs in the CJI context represent positions that have become more popular in the online job market and have seen a recent spike in demand.
Career Junction’s occupational fields most in demand skill sets in the current job market
Software development: The most sought after skill set on Career Junction especially for Java and C# developers.
Middle/department management representatives/sales consulting: Job advertising peaked during July 2017. Demand for sales representatives doubled since the onset of 2017, Career Junction said.
Middle/department management: Finance managers and sales managers are highly sought after. In July 2017, around 44% of all managerial vacancies were for finance managers and about 23% for sales managers.