In Part 1 of “It’s a Dry Powder Market,” I introduced the dry powder theory. The dry powder theory is an investment term used to describe tactics investors employ during an economic recession where they maintain a very liquid amount of assets that are quickly available to adjust to the turbulent market. Companies keep cash (the most liquid of assets) in their bank accounts and reserves to account for the volatile market. And because talent is the most expensive form of capital, companies forgo hiring permanent employees and opt for other strategies like work redistribution and the hiring of interns and contract and temporary employees.
Temporary and contract employees are extremely liquid. Here today and gone tomorrow. Companies opt to pay larger contract or hourly rates of pay rewarding these type of employees for the risk associated with a temporary position. Companies can quickly eliminate this type of overhead without costly severance plans, benefit payments, and guilt associated with layoffs and corporate restructures.
A large number of companies are employing this type of hiring in 2010 just in case. A candidate can compete in a Dry Powder Job Market not just against other candidates but also the economy by considering the following:
- Demonstrate Value. It’s no secret the job market is extremely competitive. A job seeker must be on their game and demonstrate during every opportunity that they are the best investment a company can make. This starts with your online presence and LinkedIn profile. Companies want to see how your experience and success can translate into revenues for their company. Focus on quantitative figures and numbers when describing your responsibilities and projects.
- Be Aggressive. Bring your A Game at every opportunity. Companies have access to hundreds of high quality candidates. Use testimonials and references to get your foot in the door. Don’t wait for your interview. Connect with company representatives from the moment you know there is an opening but with great care. Consider your strategy and competition in everything you do.
- Be Creative. A simple resume and cover letter is no longer enough. Consider coming with a marketing pitch, an idea to promote their product, and presentation to lower their expenses and increase efficiency. Give them an idea or solution they can’t live without. Look to your professional network to seek ideas and recommendations outside of your market or industry. Creativity matters.
**Look for Part 3 of “Dry Powder Market” discussing market strategies and one job seekers aggressive move that got a company’s attention.
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Hi, Ugh, I liked! So clear and positively.
Edwas
The distinction between the stock market and also the forex market is that the forex market is global, worldwide. The stock market is one thing that takes place solely within a country. The stock market relies on businesses and products that are inside a country, and also the forex market takes that a step any to incorporate any country. The stock market has set business hours. Generally, this can be visiting follow the business day, and can be closed on banking holidays and weekends. The forex market is one that’s open generally twenty four hours on a daily basis as a result of the vast range of nations that are involved in forex trading, buying and selling are located in so many different times zones. Jointly market is opening, another countries market is closing. This can be the continual methodology of how the forex market trading occurs. The stock market in any country is going to be based on solely that countries currency, say for instance the Japanese yen, and the Japanese stock market, or the United States stock market and also the dollar. But, within the forex market, you are involved with many types of countries, and several currencies. You will notice references to a selection of currencies, and this is often a massive distinction between the stock market and the forex market.