Will the Spending Cuts Affect Your Job?

 Up to 500,000 jobs are at risk following the largest spending cuts since World War II. Exactly where the jobs will be cut has not been detailed, and will vary by area, but Chancellor Osborne admitted there would be “unavoidable” redundancies from the public sector when the budget was announced on the 20th of October.

The changes in spending are an attempt to close the £3 billion a week gap between the government’s income and outgoings through 2010/11. Due to budget reductions of an average 19% across government departments, job losses, pay freezes and reduced hours will be a certainty within the public sector in the next 3 years.

This daunting figure can, however, be contextualised by the fact that approximately 400,000 public sector employees leave their jobs each year, for ‘natural’ reasons such as retirement, resignation and dismissal. Therefore, an option for public departments is to simply not replace the positions left open. Though, this will create a competitive environment for applicants hoping to fill the positions available, and anyone considering work in these sectors needs to prepare carefully to optimise their chances.

Consider consulting an industry specialist who is experienced in their profession with a broad understanding of the market. They can provide assistance and consultation to help applicants pursue a job in the sector of their choice. A targeted CV and cover letter, accompanied by a comprehensive Personal Career Website and an introductory Video CV can mean the difference between applicants in a restricted market.

These cuts threaten to affect women and older workers hardest, since women make up 65% of the public sector workforce, and 72% of public sector workers are over 35. This may see more women and mature workers shift from public to private sector jobs.

But, with an outweighed proportion of unemployed (2.45 million) to vacancies (459,000) according to reports in September 2010, these groups may find it more difficult to return to work outside the public sector too. A job switch from public to private might be a monetary shock to the system as well – as pay is generally 30% higher per hour in the public sector, along with generous pension contributions worth 15% of their salary.

There is hope, however – as the economy appears to be returning slowly to growth, the private sector is estimated to be able to create 1.8 million jobs over the next 4 years, which is more than enough to compensate for the losses in the private sector.

Now, more than ever, the importance of successfully marketing yourself when job-seeking, or dealing with a change in career is paramount:

1) Succinctly presenting your professional assets in a well-written CV is the first step. Whether you require a full re-write or simply a CV review, consult a professional CV service to furnish you with a Curriculum Vitae that will represent you to the best of your abilities.

2) Second, a Personal Career Website, or Web CV, allows you to offer potential employers with further information and a broader insight into your personality, achievements and career history. Securely hosted and beautifully designed, your Career Website also provides a platform to showcase your own Video CV

3) A Video CV is a short introductory video to make sure your first impression is always the perfect one. Recruiters statistically make their final decision within the first 5 minutes of meeting a candidate – you now have the ability to boost your chances within this fickle window with a confident and friendly video introduction.

4) For those making a move or finding themselves unsure where to turn after redundancy or changes in circumstance, Career Counselling can be the answer to get you back on track, help you see the options available and make a clear plan of action.

We sincerely hope that the spending cuts do not affect you detrimentally, but if you are in need of career advice and support, we suggest consulting a professional CV and career service.