The party is over…here comes the hangover! Hiring fell off a cliff in April 2023, was anemic during the holidays and never regained a foothold in 2024. Companies are firing, not hiring. If you are in the job market, or considering a career change, join The Godfather’s ride along for the cold, hard truth about finding a job during a Recession.

Recession 2024 – That’s right…it’s a Recession! Don’t let the government and media pump sunshine up your ass with the “Great economy and 3% unemployment!” nonsense. As an Executive Recruiter the last 20 years I saw something amazing during the Pandemic. Millions of people decided to ride the government dole. They will literally do anything to avoid hard work. If you look on CNBC the top five articles typically involve how to make money…without working. We have 3% unemployment because no one wants to work.

The Pendulum Has Swung – When I started my executive recruiting business 20 years ago, a successful Executive Recruiter told me, “It’s 2004 and unemployment is 4%. Nobody cares about you! They all have jobs. People will treat you poorly. People will kick dirt on you and not return your calls. But one day, my friend…that pendulum swings, and your phone lights up like a Christmas tree.” Truth! In 2008 and 2020, all the people that treated me poorly or opted out of my monthly newsletter suddenly found my cell number. And here we go again in 2024! I’m getting up to 20 unsolicited resumes (cold calls) daily. Executives I have not talked to in 10 years are dropping out of the clouds. Godfather Career Tip: Relationships trump transactions. Stay in touch with your professional network.

The Party is Over…Here Comes the Hangover – Hiring fell off a cliff in April 2023, was anemic during the holidays, and has not picked up in 2024. Most US hospitality companies are laying off, not hiring. People blew through $7T in free government money. When that ran out, they drained their savings, drew down their 401Ks and maxed out their credit cards. Revenge tourism…followed by “doomsday spending.” Everyone woke up from the party in January 2024 with massive credit card debt…and a major hangover.  So glad I don’t drink!

Unreasonable Compensation Demands – Anybody that tells you money doesn’t matter…doesn’t have any. That stated, the number one reason candidates are dropped from consideration is asking for ridiculous compensation packages. Pandemic days of 40% salary increases and working from home are over. If the market rate for a particular job is $150,000, and a candidate is asking for $200,000+, that won’t be a productive use of my time. I only get paid if I get people placed. Even if I think you are worth the $200,000, the hiring company won’t pay a 25% premium during a Recession. They have a wide variety of candidate options. Godfather Career Tip: Know the market compensation rate for your job. Check with your peers. Check online job postings with salary ranges. Ask your favorite Executive Recruiter for their opinion. Be reasonable about compensation.

Compliance Issues – I work in a regulated industry (gaming/casinos). If a candidate has a criminal record, DUIs, tax liens or bankruptcies, it’s going to be a challenge. If the DUI is 10 or 20 years old, not an issue. If you have two in 12 months, not going to happen. Godfather Career Tip: Stay out of trouble.

Spamming Your Resume – This is pretty common. At salaries under $100,000, responding to post and pray (online job postings) is an option. Won’t talk you off it. At more senior levels, any company that is posting online…is not a company you want to work for. As an Executive Recruiter, I can only submit candidates to companies they have not had contact with in the last 12 months. It’s the rules of the game. Godfather Career Tip: Don’t spam your resume. Leverage your professional network and Executive Recruiters for career opportunities.

Job Stability – I’m sure you have great reasons for bouncing around like a pinball, however hiring companies want to see professional stability with at least two or three years at each job. Godfather Career Tip: Be careful about moving around.

Unemployed vs. Gainfully Employed – Companies want to interview gainfully employed candidates. If you got laid off, it’s not a crisis, however you need to be more flexible on compensation. Godfather Career Tip: Never, ever leave a job until you have a new one lined up.

Relocation – Remote work is mostly over at the senior levels. If you want to work from home, it’s going to be increasingly challenging to find career opportunities. Godfather Career Tip: If you can’t relocate, find a local Recruiter to assist you. If you are targeting Texas or Florida, find a Recruiter in those areas – they will have the local career opportunities.

Anti-Vaxers and Politics – During the Pandemic, some companies required vaccination. That is over. When you start ranting to a Recruiter about vaccination and/or politics, you come off as unhinged. Godfather Career Tip: Keep your anti-vax and political opinions to yourself.

Termination: If you were terminated or laid off, you need to articulate that to Executive Recruiters and hiring companies. What they care about is whether you were fired for cause. If not, be honest and succinct on why you left. Restructure. Got sideways with the wrong guy. No one cares about the politics of the situation, just whether it was for cause. Godfather Career Tip: Always be honest, that way you don’t have to remember what you said.