Do you ever think about your background relative to the supply and demand for talent in the job market? Have you considered how many people there are with profiles similar to your own, or how you can further differentiate your profile? Do you have a realistic idea of how much market demand there is for executives with your experience and skill sets?
If you did not answer the above questions with a “yes,” taking time to consider basic supply-and-demand market principles will pay large dividends. How you choose to develop, position and differentiate yourself in the job market impacts your career progression, job satisfaction, and long-term compensation potential. Which of the following four quadrants do you swim in?
- High Market Demand/Limited Talent Supply
- Low Market Demand/High Talent Supply
- High Market Demand/High Talent Supply
- Low Market Demand/Low Talent Supply
Your positioning in one of these quadrants determines:
- The number of professionals you will compete against for positions
- The number and quality of opportunities with which you will be presented
- The amount of compensation leverage you are able to exert
- The rate at which you will be able to advance your career
- The new skills you are able to acquire
Are you a big fish swimming in a small pool or a little fish swimming in a big, crowded pool? The quadrant in which you swim will define not only your present, but your future. Are you swimming in the right pool to achieve your career goals?