As I was making this life change, savings and loans (or "thrifts") were failing. They had been since 1986, mostly due to bad real estate investments. (Sound familiar?) President Bush (the elder) introduced a "bail out" in February of 1989 but it was too late for my new employer. They just happened to be owned by a Texas-based savings and loan. By all accounts, they were doing well, then, boom! They were declared insolvent near the end of 1988. The RTC (Resolution Trust Corporation), an arm of the OTS (Office of Thrift Supervision), took over our parent company and our mortgage subsidiary was shut down in February of 1989.
I returned to South Jersey and found another job...in the mortgage business. The economy improved and, two voluntary job changes later, I landed my current position. That was a little over 12 years ago.
Today I face the possibility of another involuntary separation. My employer cut 75% of our workforce in the past year and a half to 2 years. News reports and "implod-o-meters" on the Internet predict our imminent demise. Those of us who remain show up every day and wait for the other shoe to drop.
Things are different from what they were in the late '80s. In the mortgage business back then, the people who suffered the most were employees of savings and loans. There was a rash of foreclosures but they were mostly concentrated in Texas. Now, it's global. You can barely find any business or person unaffected by the conditions.
So, as I consider my options, I find myself reflecting on how things have changed in respect to looking for a new job. The biggest change I see is the importance of the Internet.
Casting the Net
My, how things have changed. Back in the day, I found my jobs through one of three ways:
- Professional recruiter who was paid a fee (usually by the employer).
- Newspaper ads.
- Personal referrals.
Today, I don't know a person who starts a job search without the Internet. In fact, that's where much of the concentration appears to be. And it's no longer just going to an employer's web site, clicking on their "career opportunities" page, and scrolling through a list. We now have tools which, I believe, fall under the recent categorization of "Web 2.0".
The New and Improved Web
My understanding of Web 2.0 is still a little fuzzy. I've read articles but the techno-jargon gets in the way. But, what I grasp is this:
- Web 2.0 is user or audience focused. It seeks to interact with us. We're not just clicking on links. We're establishing the information we want from a site. We may even be adding information to a site or database.
- As information available on a site changes, the look and feel of the site doesn't. Data available on the site is independent of the site. Applications are running on the web. We're no longer looking at static pages where information must be changed in html to be refreshed.
For job searching, the focus seems to be on two things:
- Social networking sites - particularly LinkedIn
- Interactive job search sites - Monster.com, industry specific sites.
Going back to the old days, if you wanted to network, you had a Rolodex and hoped that you had everyone's home number. If you wanted to hook up (professionally) with some new contacts, you attended networking events, professional meetings, etc.
While the face-to-face meetings still have a place, the Rolodex is so 20th century. In today's world, the on-line social networking sites are where you stay in touch. And, they're where you can meet your contacts' contacts without a formal introduction. In my circles, LinkedIn seems to be the site of choice. I started getting invitations from departing coworkers just as the body count started.
By sending and accepting invitations to join one's network, you have access to a multitude of contacts and information about them. You can see where someone works, their past experience (like an on-line resume), and recommendations from current or former co-workers. This gives you a better idea of who you're dealing with. LinkedIn has more applications that I've not yet explored. So far, the most critical area has been "People". Staying in touch right now just seems to have the most urgency. Particularly when you haven't had a chance to say "good-bye". But these are also the people who, as they land in new places, will be the most likely to help us late-comers (or late-leavers) land safely, too.
The social networking sites are part of Web 2.0 because we, the audience, are responsible for the content. We're building the database.
A Hunting We Will Go
Another newer function to the internet that I believe falls under Web 2.0 is the "define-it-yourself" job search. Some of these engines are undoubtedly better than others. The thing that I think makes them Web 2.0 is that you can narrow your search by setting criteria and then have links to the job...not just the site...sent to you when there's a new match.
My site of choice right now is USA Jobs. (With banks and other financial institutions failing and billions of dollars in bail-out money, those regulators will need plenty of people experienced with the inside workings to shovel through the muck and help set things right. )With this site, you decide how much information you give upfront (like whether or not to provide a resume) and what jobs you want to "hear" about. You can set up as many searches as you want or need. And the information is constantly updated without changing the look or feel of the site.
What's Next?
Honestly, I'm not technically saavy enough to make predictions. I read that collaborative sites and audience defined functionality is the future. Some of it I find useful...like the tools I've mentioned here for networking and job hunting. Some of it I find confusing...like the new language of the internet and the associated tools. And some of it worries me...like the "democratic" nature of tools like Wikipedia - how "facts" and information can be owned by people without expertise in the given area. Maybe that's a blog for next week. "What scares me about Wikipedia." Hmmm...
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