Have you seen the Bull yet?
It’s right there, on the horizon, and it’s heading straight for you, me, everyone. OK, that’s the last exaggeration in this piece – not every single person in the UK, but the vast majority. For all those living, working, and breathing across the UK’s Digital and Technology sector, the Bull is very much heading your way.
What am I talking about?
In plain speak, the stock market affects huge parts of how our world works and revolves. If you did not live and work through the 2008-2010 financial crash and see first-hand what happens when the stock market tanks, then you missed a hell of a show. Got a pension? The stock market matters to you. Got a mortgage? The stock market matters to you. Want either of these things, so you can look forward to your longer-term future? The stock market matters to you. Employed at one of the thousands of businesses around the world that trade or would like to trade on the open market? The stock market matters to you.
We can all claim to dislike bankers. We can all claim their world does not affect ours, however, I believe we can learn from their terminology.
A Bull market is when share prices and investments across the securities market rise for a sustained period of time. A Bear market is the opposite, so when shares fall over a sustained period of time. That synopsis might not tick all the definition boxes of those with the name Morgan and Stanley, but it works.
How is this relevant to you?
The UK employment landscape to those working in and across it, whether you be a growing business, a person considering a career move, a recruiter or someone looking to start a business, is better known as the ‘job market.’
We are now in a Bull market for jobs in the UK.
Don’t believe me?
- As early as the 12th of January 2021 LinkedIn predicted huge skill shortages and job growth across 2021. Within days they had listed their top 15 growth industries and roles in 2021. Top 15!
- Last week the ONS, BBC, and most UK economists admitted that with unemployment now at 4.9%, this is lower than they expected it to be when the pandemic hit in March/April 2020.
- 813,000 jobs have been lost since this time last year, which is horrific for anyone affected. However, 526,000 of those were across hospitality and retail. These losses were not all down to failing businesses, they were because the businesses legally could not trade.
- The numbers that hit the headlines make it sound like there was a complete job market crash last year. There really was not in the Digital sector, this makes the demand for talent even more competitive in 2021.
- Job adverts posted across UK job boards have risen week on week since March 8th
- 181,000 jobs are now posted a week. I repeat, a week in the UK.
- There are currently 1,400,000 live, open jobs posted across UK job boards.
- This is nothing of the hundreds of thousands that are advertised on websites, LinkedIn profile or via third parties which are not tracked.
Whether you want to admit it or not, we are in now in a Bull market when it comes to jobs.
Why does this matter?
So much has changed in the past year. Sounds stupid reading it I know, but it’s true and more so when it comes to our jobs, careers and business. The way we work, where we work, when we work, how we work, who we work for, all have changed. On-top of this you have how we view work now and what role we want work to play in our lives.
With so much change and so many businesses looking to hire and grow, but individual views and perceptions changing, are these worlds aligned?
This is when a Bull market can become a real problem and you need to beware; beware the prospector. The prospector can be anyone; it can be a business, a person, a movement, someone looking to hire or dare I say it, a recruiter.
The prospector lives for a Bull market. Opportunities are rife for them to wreak havoc. Unless that is, you learn a vital trick, to not just survive but thrive in a Bull market – learn to ride the Bull.
Yes you read that correctly, don’t run away from the Bull, you can’t out-run it. Don’t look to avoid the Bull, it will find you. Don’t think the prospector won’t find you, they always do.
Learn to ride the Bull.
- Work with internal and external partners who share your goals and values.
- Make sure you know, live and breathe your values.
- Get values.
- Don’t be a prospector.
- Don’t try and take advantage of those you believe to be in a stronger position than.
- Define success. Lots of people can and do succeed in a Bull market, but they have a plan.
- Get a plan.
- Stand out from the crowd.
- Acknowledge there is a crowd of hundreds and hundreds of thousands competing against you.
- Be honest, it will help you stand out.
- Look for talent constantly, if people are the most important part of your business, then never stop working on, looking to grow and develop that talent.
- Sorry, just because you have dedicated internal talent people in place won’t be enough.
- Partner with a recruitment business.
- Acknowledge recruitment is a thriving industry and has a strong grip on lots of talent you would benefit from.
- Enjoy the ride.
This article was written by Simon Brown, Founder of Digital 51. Contact Simon to find out about his Bull riding skills, if he can help you with yours and to tell him what you think on