Building Market Value
To my eyes at least, a candidate that really stands above the crowd is one who understands their market value and what they can bring to table of potential employers. Candidates who know their worth in a highly competitive industry have a distinct edge over their competition as they are able to effectively market themselves to the right people, at the right time. So with that in mind, how does one go about firstly determining their value as a business asset and secondly, ensuring they land the job they are after? Like any business decision, it all comes down to research and market analysis.
To an organisation looking to recruit, a candidate’s market value is determined by the transferable skills, knowledge, experience and contacts they possess, and how they can be leveraged at said company. In order to build your personal value as a candidate, it’s important to build skills that can be utilised not just in your current role, but also your future endeavours. Have you ever wondered why contractors are able to not only stay contracting when many organisations would prefer permanent employee’s, but also how they are able to command such high incomes over their permanent colleagues? Because they work across multiple projects in different environments, they gain a variety of skills and experiences, plus the ability to transfer those skills to future employers quickly and effectively. Career contractors understand their value in the market by not only picking up key skills, but by having an ear to the ground- they gain an insight into market trends that further allows them to stay ahead of the curve in terms of where things are heading and what skills will be of value.
As a permanent employee, you can apply the same principals to your own career. By analysing your chosen industry and picking up on key trends, you can accurately predict what unique skills or experience is going to be in demand, giving you a chance to learn and develop them ahead of time. Armed with abilities that are now in high demand, you are able to effectively market yourself to potential employers, as you know what they are looking for and more importantly, you know what you can bring to the table.
Finding a job is a lot like finding a potential buyer for a product. If you know your market well and the value you can bring to that market, finding a buyer becomes decidedly easier. The same can be said of your job search. Research your industry by attending conventions, reading relevant articles and speaking to leaders in your field. Once you have an idea on where things are heading, build the necessary skills and experience to get you ahead of the pack and increase your market value.
For more help determining your market value, head over to the guys at Jobzdojo. You’ll learn how to effectively market yourself to potential employers as well as how to carry out a S•W•O•T analysis on yourself. Understanding your market value is something that is going to put you ahead of your competition, and believe me – hiring managers will notice!