Recent data from Singapore’s Ministry of Manpower confirmed that over 15,000 employees on the island nation were laid off last year. The government figures indicate that the incidence of redundancy has risen to 7.4 redundancies per 1,000 workers which is noticeably up from 6.3 in 2014.
Whilst Singapore has one of the lowest rates of unemployment in the developed world (approximately 3%), the reality of the recent unemployment news is that candidates face stiffer competition when looking for their next job.
So, what does this mean if you’ve recently been laid off or are considering a change of career? You may want to think about what makes you stand apart from other job seekers and why you will offer the greatest value to a future employer. This situation is not dissimilar to what many mature brands face as new technologies challenge conventional paradigms. Quite simply, brands need to have a real point of difference and must find new ways of being relevant to their respective target audiences.
The analogy between those looking to reinvent their careers and mature brands seeking to regain market share can be explored further. At Landor, we think about how brands can be agile in everything they do. If you’re an established player in a market that is open to disruption – Think Comfort Cabs and the presence of Uber X – then thought must be given to evolving your brand due to new dynamics.
Agile brands are ‘principled’, ‘adaptive’, ‘open’, ‘responsible’, ‘multichannel’ and ‘global’. In positioning a brand these are all factors that are worthy of consideration. In going for a new job, they are also factors that may help you get the job over other candidates.
If I had to think about some key agile dimensions to apply to a ‘personal brand’ when going for an interview, I’d look no further than being ‘adaptive’, ‘open’ and ‘responsible’. The days of having a job for life are gone. The modern workforce is flexible and progressive. For employees, this means that skillsets need to be updated and new ways of doing things embraced. From a brand perspective, look no further than Netflix as a living, breathing example of how to reinvent yourself. Netflix realised its existing offer was dying and set about creating content that was delivered in a unique and convenient manner. Adapting to new circumstances is key to your survival.
In a world obsessed with purpose, employers are also wanting employees that are ‘responsible’ in how they go about things. Microsoft is a great example of a brand that has a strong purpose and rates highly as being ‘responsible.
Finally, we live in a world that is much more transparent than what it was a decade ago. Claims can be easily fact-checked and if a brand misleads its consumers, then in the click of a ‘tweet’, it can be shared with hundreds of thousands of followers. VW learnt this the hard way. Job seekers need to be aware that some employers consider a candidate’s social media profile when assessing if they have the wherewithal to join their company. An ‘open’ approach is pivotal to your success.
Perhaps a simpler way of thinking about the analogies between job seeking and brands can be summed up with the following leadership quote. ‘Your smile is your logo. Your personality is your business card. How you leave others feeling after an experience with you is your trademark.’
This article was first published in Marketing Magazine in March 2016