Contracting Tips:  Staying Up in a Down Market

Let’s be blunt.  We are experiencing unprecedented economic times. Many of you reading this article may have been recently laid-off or you’re in-between assignments for longer than you’d like.   And let’s not forget those of you who are still on assignment – working harder than ever, but worried that it might be ending soon.  Even well-seasoned HR Consultants have confessed their dismay to us in recent months over the heavy number of hiring freezes, often including freezes on contract opportunities.   Indeed, we all look forward to better days ahead!

However, even in the worst of times, it’s important to note that there are always a handful of savvy consultants that seem to rise above the economy and retain a steady flow of work.   How do they do it?  One recent example that comes to mind is a highly-experienced executive-level candidate who was the Global Head of Staffing for a Fortune 500 Biopharmaceutical company.  She had an extensive strategic recruiting background, with a heavy emphasis on change management.  After being impacted by a lay-off, she came to us seeking a contract assignment.    As someone who often volunteered her time to assist laid-off workers, she was uniquely aware of the current economic conditions.  You could say her “eyes were wide open” – she wanted to work, but pragmatically, she was willing to be flexible to make it happen.  Within a short time, she landed an ideal assignment with a renowned non-profit in NYC that was about to go through a major organizational change.   Although the commute is less than ideal (65 miles by public transportation), our candidate loves the assignment.  It meshes perfectly with her background, and she is even relishing its “hands-on” aspects.  In all likelihood, this assignment will provide 6 months or more of steady employment.  To recreate her success in your career, please consider these factors:

1. Rate Flexibility.  Of course, we all want to make more money than our last assignment, not less – that’s human nature!  However, savvy HR Consultants accept economic realities and understand that rates fluctuate with the economy.  When opportunities are abundant and talent is scarce, consultants make a premium dollar.  When hiring slows down, and competition becomes fierce, those rates decrease.   At Continuiti, we have observed that 2009 rates for Interim HR Professionals across the country are averaging 15-20% less than 2008. As the economy improves, those will undoubtedly move back up.  In the meantime?  Adjust your expectations accordingly!   (Keep in mind, Continuiti does not benefit from paying you a lower rate.  In fact, it reduces our profits to do so, as we charge a set percentage mark-up to our clients). 
    
2. Commute Flexibility.  Again, when opportunities are few and far between, the willingness to travel further provides an inherent competitive edge.  It’s simple logic - it expands your territory and opens up more opportunities!  So, if you’re serious about finding assignments, we recommend a minimum commuting range of 0-60 miles, perhaps even further if you live in a more remote area. 
    
3. Fine-Tuning Your Resume For a Contract Assignment:  Competition for assignments is fierce and employers have the luxury of reviewing multiple, on-point candidates for each position. To make sure that your resume presents you in the best light, consider the following:
    
1. Stress Tactical Skills, not Strategic:  Build a chronological (not functional) resume that highlights your tactical skills.   Show hands-on capabilities, and list relevant software skills and certifications that demonstrate a practical body of knowledge.
2. Emphasize Recent Experience:   You should provide more detail about recent assignments.  Experience beyond five years is not as relevant on a contract assignment. 
3. Credibly Explain Experience Gaps and Moves:    Don’t give the client a chance to draw his or her own (possibly negative) conclusions about any gaps or moves on your resume. We suggest adding a final bullet point at the end of each job description providing the reason why you left that position.
4. Provide References:  These may be written, or you may refer to your Linked-In page (which clients commonly review).   Supervisory references, of course, are preferred in either case. 
5. Provide Ample Detail:  A client who has to pick up a phone and ask a question about your experience - might just skip on to the next resume.   For each position listed on your resume, it is always a good idea to provide a brief introductory paragraph educating the reader about what the particular company did, its size, your reporting structure and the scope of your responsibility.  For contract recruiters, always provide average volume of open positions and how they  were sourced.  You goal is to present a complete picture – one that gives the client a high comfort level in selecting you. 

While the contract market is certainly down - it is not dead! By being flexible on rate and location, highlighting your recent hands-on experience, and leaving no unanswered questions, you will greatly increase your chances of success!