Supply & Demand: A Relevant Concept for Today’s IT/Technical Job Search?

If you’ve read any of my other content, you know that I like to challenge “conventional” wisdom and go against the grain from what most people are saying. It’s not because I want to be a rebel, but the truth doesn’t change because the opinion of the majority says so. (Simply put, it makes me want to declare what is true and real all the more boldly!)

So what myth am I busting today? Well, it has everything to do with laws of supply and demand, which generally define the effect that the availability of a product (supply) and the desire for that product (demand) have on the price of that product. Here is a simple supply/demand chart (courtesy of Investopedia.com):

economics5

What most people get wrong in this scenario is that you, the job seeker, are the supplier. After all, the company doing the hiring is paying whomever they hire to provide a product or service, which is the work performed. When the volume of products on the supply side is higher than the demand for those products, prices get driven down until suppliers bow out and equilibrium occurs. So, in this scenario, when there is a large number of candidates available on the market, then the company looking to hire can have its pick…and possibly get that person at a price below the typical market value.

How does this go against conventional wisdom, you ask? Well, let me lay out the following scenario:

  • It is mid-November
  • A company just had its Director of IT Infrastructure give notice that he or she is going to work for a competitor
  • The company doesn’t have a viable internal candidate to back-fill the role
  • There are some major infrastructure projects in the works that must move forward

Is this company going to wait until after the New Year to fill the role? Of course not. It’s going to fill the position quickly. But around this time every year, I get calls from clients saying that they’ve been advised to wait until January to conduct their job search because that’s when more candidates are active.

So, because everyone else is waiting until January, you should too? I don’t think so. Go back to the law of supply and demand. If you wait until everyone else is conducting a job search to conduct your own, you’re competing in a market with supply that is higher than demand. That’s not ideal. You actually put yourself in a better position by conducting your search during a time in which others are not. It’s now mid-November, so get yourself out there now when competition is low and you can position yourself as a top-level candidate.

Stephen Van VreedeAbout Stephen—-

Stephen Van Vreede is not your average IT/technical résumé writer. He provides career strategy and concierge job search solutions for senior (15+ years) (ITtechExec) and up-and-coming (NoddlePlace) (5-15 years) tech and technical operations leaders. Stephen and his team focus on building simplified, targeted, and certain career move campaigns, be it an external search or an internal promotion. He is co-author of UNcommon with career development leader Brian Tracy (out June 11, 2015). Contact Stephen directly at Stephen@ittechexec.com or send him an invite at https://www.linkedin.com/in/stephenvanvreede. To see whether Stephen and his team are a good fit for you, take their free (and anonymous) 1-minute compatibility quiz, Is the ITtechExec Approach a Good Match for You? Also, feel free to take his complimentary resume self-assessment quiz, How Certain Can You Be About Your Technical Resume? You might be surprised by what you find out!

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