Benchmark Search Employment Insights – May 2024

Does the promise of summer have you feeling senioritis, or does it give you a boost of energy at work? Are you dreaming of vacation, or planning to use those extra daylight hours to be more productive?

Whatever your state of mind, consider your, well, state of mind this May.

In this month’s newsletter, my stance on whether you should customize your résumé for every single job, why you shouldn’t panic if you see 100 other applicants on the job you want on LinkedIn and how to pay particular attention to your mental health this month.

April Jobs Report Highlights

April Jobs Report: Hiring Slows, But Opportunities Still Abound 🚨

The latest jobs numbers are out, and while hiring has cooled slightly compared to March, there’s still plenty of action in the labor market.

Key Insights:

  • 175K jobs added in April (lower than March’s gain)
  • Unemployment rate ticks up to 3.9%
  • Healthcare (+56K), Transportation & Warehousing (+22K), and Retail Trade (+20K) lead the hiring charge

The job market remains strong, but the pace may be easing slightly. Businesses, this emphasizes the need to attract talent with competitive offers and a focus on employee experience. Job seekers, keep networking and sharpening those in-demand skills!

Hot Jobs

Director, Fund Accounting, Private Equity (Hybrid) $240k

VP Operations, Private Equity, (Hybrid) $230k

Associate Director, Fund Accounting, Private Equity (Hybrid) $190k

Director FP&A, Utilities (Hybrid) $175k

Controller, Hard-Money Lending (Hybrid) $150k

Tax Manager, Professional Services (Hybrid) $150k

Accounting Manager, Reporting, Retail (Hybrid) $135k

Accounting Manager, Family office (Hybrid) $120k

Cost Accounting Manager, Construction (Hybrid) $110k

Audit Senior, Utilities, $100k

Tax Senior, Professional Services (Hybrid) $100k

Portfolio Accountant, Investment Management (Hybrid) $100k

Operations Accountant, Investment Management (Hybrid) $85k

AR Supervisor, Retail (Hybrid) $85k

AR Coordinator, Retail (Hybrid) $65k

Mythbusting Resume Lore

It’s a myth that you have customize your résumé for every single role you apply for.

Well, let me qualify that stance.

If you’re submitting job applications through portals and ATS systems, yes, you probably want to make sure you’re hitting all the right keywords with every entry. That’s how automated systems work. They look for certain words.

But if you’re working with a recruiter like us to get a new job, it’s less important to customize your resume every single time you apply. We do the work of getting you in the door ourselves, so you don’t have to shove your resume past a stingy ATS.

“Wait, does that mean I’ll never have to edit my resume again?”

Not necessarily. I might ask you to provide a variation on your résumé that emphasizes certain skills and experience over others when submitting you for a specific role. But those changes will be logical and purposeful — not due to the limitations of a robotic system.

100 Other Applicants for the Job You Want? Don’t Panic!

It can be easy to panic when you see that a job listed on LinkedIn already has over 100 applicants. It’s important to remember, though, that LinkedIn is tabulating the number of people who’ve clicked on the application link — not the final count of how many people filled out the application and submitted it. That number could very well be a lot lower.

As a general rule of thumb on the internet, 84% of people “drop off” between when they hit a button to enter an application and when they complete and submit it. That means that out of 100 people, only about 16 actually would have applied. (Read more about this on Forbes)

On the other hand, if a job is listed on LinkedIn, you can be sure that everyone has seen it. So if you’re looking for an extra boost to your visibility when it comes to getting yourself in front of an employer, you’re well served to work with a recruiter.

Recruiters from Benchmark Search have the expertise, leverage and, often, the connections to get you in the door of your dream company.

May Is Mental Health Month

Is your boss making you sick?

Considering the close correlations between stress and illness in medical literature, and the fact that 8 in 10 employees show signs of physical stress because of their bosses, the chances are pretty good.

Mental health is a piece of the puzzle here. Three in five employees say that their job impacts their mental health (and not in a good way). In honor of Mental Health Month, perhaps it’s time look for a new role. My job is to help you find the role that’s right for you, where you’ll feel inspired and supported, and also challenged — but not to the extent that it makes you sick.

Reach out today, and let’s get you feeling your best!