With so many changes in the sector, this October is definitely feeling less pumpkin-spice and more nightmare on med comms street. With uncertainty rife, it's no wonder that so many people are jumping at shadows of redundancy and budget cuts. How can we navigate a turbulent market? And how do we differentiate between sector-oriented insights and fear mongering?
Fear Street; Freelancing
Throughout this year we've covered the changing landscape of the freelance market. Consistently, we've seen contractors reaching out in search of permanent placements- something which was previously unheard of but now seems symptomatic of a turbulent economic landscape.
However, as October slips into November, we've seen a slow but noticeable uptake in freelance roles opening up. Perhaps the uncertainty which has dominated British business this year is easing up? With new year budgets being discussed, it feels as though (even with pharma tightening their purse strings) agencies are moving into 2024 better prepared.
Carrie-On Job Searching
This sense of uncertainty has certainly had an impact on the market's mobility over the last year; even talent who are unhappy in their current roles have been hesitant to explore the job market, valuing job security over job satisfaction. For many, it has felt simply too risky to consider making a move whilst the market has been so unpredictable. However, it's important to acknowledge that this uncertainty contributes to the problem, as lack of movement leads to overall market stagnation, with less available opportunities for progression and evolution.
If you're feeling frozen in fear, it could be beneficial to speak with search consultants who can offer candid insights market opportunities at your level. Whilst considering a change in the current market is always going to feel daunting, the right progression partner can offer an honest overview of the current market, rather than sucking you into an echo chamber of fear mongering.
Job Interviews with a Vampire
When interviewing for new roles in the current market, it's key that you utilise conversations with agencies and internal recruiters to gain as full an understanding of an agency's plans as possible. Unlike Tom Cruise's version of Anne Rice's pale protagonist, hiring managers are not going to bite your head off for asking about how their company plans to adjust to changing budgets and client briefings. By asking questions, you not only show your investment in an agency and the potential a role with them may offer, but you'll also ensure you make informed decisions by having a clearer vision of a role's future stability.
Conjuring Up Opportunities
If you're unsure of how best to navigate the current market, or feel frozen in fear in your current role, then reach out to the team at CM Consulting today to find out more. Our team of consultants can offer honest insights into the present market, and regularly utilise market research to offer sound 2024 market predictions. We know that even thinking about a new role can feel overwhelming at present, and so our team are here to make the process and simple and transparent as possible.
To get in touch with our team, reach out to