So, it’s that time of the year again. You are frantically applying finishing touches to your cover letters and fluffing up your resume before sending them off to 500 different companies that you have carefully targeted over the break. You are graduating in six months, and the perfect offer hasn’t come knocking on the door as you expected. Now what do you do? How do you prepare for this year’s market? Were the statistics correct—is the economy really improving? Are there going to be jobs available in this country by the time you graduate, or will they all be shipped offshore, just like your coworkers and friends predicted?

The truth is that no matter what the statistics say and no matter what your coworkers tell you, there is no one way to prepare for this unpredictable economy. I have learned that the only thing you can do is to be optimistic and accumulate as much advice from a myriad of people as possible, and that’s exactly what I did. With the help of the DePaul’s Alumni Sharing Knowledge network and my mentors, I interviewed key Chicago executives to find out what they think ought to be the right things to do to prepare for this year’s job market. This is what they had to say:

On outsourcing and the globalization of the economy

To better equip against major economic issues such as outsourcing, you need to understand the nature of the beast. According to Chris O’Brien, CIO for the City of Chicago, outsourcing is not a new concept—it has happened in almost every mature industry such as apparel and automotive. Jobs that follow specific set of instructions will always be outsourced offshore—it’s just strategic business. The trick is to recognize which jobs will go and which won’t, and to do that, you have to read a lot of newspapers, journals, magazines, and observe trends in business. I was told to be prepared for the changing levels of comfort in this country and to understand the globalization of the economy. “It’s all about strategic placement.” Chris said.

On how to better prepare for the outsourcing beast

There is no denying that offshore outsourcing has hit us all hard. According to Russell Pike, the COO for TheFosterGroup, there are a few things that you can do to brace yourself for this situation:

• Be flexible—understand trending factors, look into job demands, and recognize that your dream job may not necessarily show up within a 50-mile radius from where you are located
• Never be fixated on one career—you may have to sidetrack a little to get to where you really want to be
• Fine tune your skills to service the market place by observing jobs baby boomers are retiring from in the next 5 years
• Understand the business’ value lines and apply those values—know what soft skills are required
• Continue educating yourself—don’t see graduation as the finale of an episode in your lifetime

On how to network effectively

We all know the importance of networking and we all know that, “It’s not what you know, it’s who you know”. The reality of it now is that it is what you know and it is also who you know. My interviewees have told me countless times that networking should not only be done when you are seeking a job. Robert Blackwell Jr., CEO of EKI reiterated that you should network for life and to think of networking as socializing with a purpose. “You have to embrace it to do it effectively—opportunities present themselves in the uncanniest of situations, so be tenacious,” he said. While you may already know that you have the skills for that dream job of yours, remember that skills alone aren’t enough—people make decisions on other people. As Russell shakes his head, he said “Businesses aren’t run democratically—they are run autocratically.” So go out and network hard and hopefully, you will find that one person who will make a decision on you!

On one advice for the job hunters of 2005

So what do all of the top Chicago executives have to say to job hunters of 2005?

Chris O’Brien (CIO, City of Chicago) said: in light of globalization, learn a new language, polish your writing and communications skills and read a lot of management books.

Russell Pike (COO, TheFosterGroup) said: if you change your attitude, you will change the outlook of the world. Don’t miss out on opportunities and don’t let opportunities pass you by—keep looking actively.

John Fisher (CIO, SmithBucklin Corporation) said: the world works in cycles. Right now things may look bleak and we might be at the bottom of the trough, but there is only one way to go from there and that way is to go up. Prepare yourself to ride the waves; focus on your communication and people skills so that you can weave yourself a network of people who can help you through tough times.

Robert Blackwell Jr. (CEO, EKI Consulting) said: be tenacious and read this book, “Think and Grow Rich”, by Napolean Hill.