GREENSBORO, NC / ACCESSWIRE / March 10, 2022 / As the unemployment rate in the United States hovers at 4%, a recent survey reveals that 72% of C-level executives are concerned about losing their jobs in the current economic climate. It is an increase of roughly 20% from the 2020 rate and is attributed to disruptions in the supply chain, digitalization, and the uncertain economy. It raises an important question for these high-level professionals: after having worked presumably very hard and long to reach the top of their industries, how do they move on when there are relatively few positions at the top and possibly even fewer that are open? CareerAdvisor, run by its Founder and President Phillip Braddy, states that it has been keeping a close eye on the economy and has been working with C-level executives to help them feel prepared in case they find themselves looking for employment once more.
The Reality of Few Jobs at the Top
Fortune 500 companies typically have a limited number of C-level positions, and how many of those are open at any one time will vary. This implies that a C-level executive will face a smaller job pool than someone who is further down the employment ladder.
"Some of our own clients have told us that they have had trouble finding new employment simply because they have spent so many years in their positions, working long hours, that they have not been able to network," says CareerAdvisor. "Running a company is, of course, a demanding job, one that takes a lot of time from an executive, and when they must find a new position, they sometimes discover that they no longer have the connections to help them find work as fast as they would like."
Also a potential issue is that mergers, bankruptcies, and the instinct to sit tight during an uncertain economy can all contribute to fewer open positions at the top. "Being at the top of the pyramid is not always protection against unemployment," CareerAdvisor states. "There could be many ongoing factors that are behind the 72% of executives who are worried about being unemployed."
How CareerAdvisor Is Working to Help Executives in Today's Economy
"The loss of a job can come unexpectedly," CareerAdvisor says, "and it is impossible to know how long it will take to obtain a new position. With that in mind, we are reaching out to executives to let them know about our free resources so that they can keep their professional materials up-to-date and have the potential to visualize where their career is going."
To assist C-level executives who are unsure about their employment futures, CareerAdvisor offers free online resources, including samples of resumes, professional biographies, and cover letters. "An executive can easily customize them and use them to update their work profiles so that they feel more prepared for what 2022 may bring them," the company says.
For those who need help networking, CareerAdvisor is recommending that they back up a step. "We are encouraging them to rethink their online presence," the company states. "Yes, who you know is important, but we are increasingly becoming an online society. For C-level executives who have been at their companies for years, we are helping them update their LinkedIn profiles because of the potential this platform has to assist with a career search."
Lastly, CareerAdvisor is helping executives practice interviewing for positions. "The feedback from our clients is that they appreciate this the most," says the company. "They may have years of experience in the boardroom, negotiating deals, but negotiating for a new job or salary can sometimes feel different."
What 2022 May Bring For C-Level Executives Who Are Job Searching
The outcome of any job search, even for executives, will likely remain unpredictable to some extent. However, by providing resources and coaching, CareerAdvisor may be able to help more executives weather a tough economy and find the rewarding positions they seek.
For more information on CareerAdvisor, please see its website or contact:
Phillip Braddy
[email protected]
252.904.9191
Career Advisor
3912 Battleground Avenue, Suite 112-221
Greensboro, NC 27410
SOURCE: CareerAdvisor