“If you can claim to be a data scientist and have the chops to back that up, you can pretty much write your own ticket even in this tough job market. A quick search of the popular job posting sites –Indeed.com,SimplyHired.com, or Dice.com – shows a huge demand for data scientists or anyone who can demonstrate other “big data”skills.

The reason? Companies in all industries now understand that they need to make better sense of the massive data sets at their disposal — data sets that can include computer log files, social networking feeds, digital video or audio, you name it.”

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“More (graphic) evidence that “big data” skills are very much in demand. Job postings for big data jobs have skyrocketed since January 2010. Just take a look at this hockey stick of big data job listings, courtesy of Indeed.com.”

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With the U.S. economy inching closer to a recession, the job market is changing dramatically. Competition for jobs is heating up as an increasing number of skilled professionals, laid off from their companies, flood the market. Firms are reconsidering their hiring plans as they wait for the softening economy to firm up. And while the Internet has made it easierthan ever for job seekers to post their resumes, that convenience has made it harder for candidates to stand out.

Even the basics of a job search—resumes, cover letters, interviews and negotiations—have changed as a result of the economy. It’s no longer an employee’s market, and job seekers have to adapt accordingly—sometimes in radical ways that benefit employers more than job seekers.

If you’re tired of struggling to find a job and don’t want an economic slowdown to hurt your chances of landing a new one, follow the best practices outlined in this story for conducting a job search when times are tight.

1. Forget the “shotgun” job search method.

Many people still use the “shotgun” method for conducting a job search. They read the Sunday job ads; they submit a standard resume to as many job boards as they can find; they call on a few friends. Then they submit their standard resume to either a handful of opportunities each week, or they submit to dozens of jobs with the same resume as long as the position sounds remotely interesting.

“As job seekers become more fearful of the economy, they fall back on the shotgun method because it feels like they’re out there working it,” says Phil Rosenberg, former division director of Robert Half International who’s now CEO and founder of reCareered, a career counseling and resume writing firm.

The problem with the shotgun method is that it does not work, especially in a job market where employers have the pick of the litter. In fact, it does more harm than good. Recruiters are not likely to want to help you because you have given all potential hiring firms free access to your information, which negates the value they provide to their clients. Second, you commoditize yourself: By posting your resume everywhere, you become indistinguishable from a plethora of job seekers with similar skills.

Consequently, hiring firms can immediately negotiate on price, driving your salary down or out. What’s more, when you try to be all things to all prospective employers by sending a standard resume to everyone, you end up being nothing to no one. Your resume won’t get noticed because it doesn’t stand out.

2. Start with a plan to find the right company first and the job second.

What the shotgun method lacks—and what every job seeker needs—is a specific idea of the job they want and a plan on how to get it. Yet few job seekers start with these ideas since both require thought and time. Pressed to quickly find a new source of income, most job seekers don’t feel they can afford the time needed to create a big-picture strategy; they simply want to apply to as many positions as quickly as possible. They feel they need to act, not sit and think.

That mentality is born of shortsighted fear. It’s not the mentality of a long-term, solutions-oriented leader. Keep in mind that hiring managers want leaders with demonstrated success in finding creative solutions to difficult problems. Business plans, project plans, budgets and presentations all take time to research and develop. So does differentiating your job search. By taking the time to zero in on a specific career goal and to plan an effective job search, you demonstrate to hiringmanagers your clarity and ability to manage projects. It’s a strategy that’s worked well for me.

One of my own recent interviewers commented, “So very few candidates truly understand what they really want that it is an eye-opening ‘ah-hah, this guy is different’ moment when someone can confidently communicate that to (us).”

The amount of time this planning requires varies by person, but it can range from as little as a few minutes for job seekers who have already committed to specific industries and geographiesto a few days for those who are less certain of their goals. Since I was originally looking to change industries, I spent more than two weeks researching the leading firms in the industry.

3. Focus on growth industries and specializations.

Picking an industry that is still growing or is predicted to grow during these difficult economic times increases your chances of landing a new job and decreases your chances of getting laid off again.

Most of the job search engines, career sites and economists agree that the top industries for 2008 are…

Computers/IT

Energy

Health care

Federal government

Legal (attorneys)

Aerospace manufacturing

International business

Security (physical and systems)

Education

Environmental

Science/R&D

Experts from the executive placement industry recommend selecting two or three industries along with the region(s) where you are willing to live, and then selecting the top ten firms you’ll target based on your industry and location criteria. Focusing your attention on a shortlist of prospective employers (as opposed to following up on every job ad you see) will make your research more manageable and will make it easier for you to identify the key decision-makers inside those companies with whom you need to connect.

It’s important to be realistic about the industries and firms you’re choosing. In my own job search, I initially attempted to change industries from financial services to defense. But after four months of disappointing results, I learned how difficult it is to overcome the new security clearance requirements enacted after 9/11—especially in today’s economic climate. That lost time sapped my finances and a bit of my confidence. Luckily, I was able to recharge and rebuild my plan over the holidays. My new plan included evaluating the types of firms and business environments I enjoy working in beyond just top-ranked corporations. I also significantly reduced the time I spent searching for positions outside of my immediate region, since my relocation costs have repeatedly been cited by prospective employers as cause for dropping me from consideration over the past few months.

Within the IT profession, the areas of specialization in highest demand today include:

IT management

IT consulting

Wired telecom

ISPs and Web search portals

Internet publishing and broadcasting

Lead application developers and Web design professionals

Data warehousing, data modelers and business intelligence analysts

Senior administrators (DBA, network, security)

The highest paid individuals in these specializations are those who have earned industry certifications and possess in-depth technical and managerial experience, according to

reCareered’s Rosenberg. So a useful tactic in finding a new job is to expand your subject matter expertise in those key technologies, which can include earning an industry-rated certification or master’s degree. If you lack technical certifications or advanced degrees, you can still impress cost-conscious employers by presenting yourself as a lower cost, increasing-value team player.

Demonstrating your commitment to your industry and specialization with ongoing, self-directed (read, self-paid) training towards key certifications impresses employers.

4. Consider different business environments.

There are many more job opportunities than most people realize. In addition to the large national firms that the Dow Jones and Fortune magazine track, there are numerous other business environments to consider, such as startups, spin-offs and fast growing midsize companies. These organizations may be hiring more staff than traditional Fortune 500 companies. Also onsider nonprofits and the public sector. In a down economy, some of the largest job growth comes from federal, state and local governments.

David P. Winston, a principal with Heidrick & Struggles, advises executives not to discount startups. “Many candidates have shied away from venture-backed firms as too volatile, but they fail to consider the potential career benefits of such a firm,” he says. “Venture-backed companies can serve as a stepping stone, an opportunity to learn (or expand) a key skill, or to explore a career interest,” he says.

What’s more, the impression of startups’ volatility is more stereotype, born of the dotcom-bust,

than reality, according to leaders in that industry. In fact, venture capital insiders don’t see the

industry pulling back in this recession the way they did during the dotcom bust. Tim Tonella, CEO

of MatchStar Venture Search, says that venture-funded firms in their second and third round of

funding in particular are generally very good opportunities for executives with experience in

business growth and risk management. After all, startups and venture-funded companies often

require experienced leadership to take them to the next level.

Each of these business environments—startups, midsize firms and the public sector—require a

unique mindset and attitude. For example, smaller, entrepreneurial firms call for flexible

individuals who can change their priorities on a dime and who operate effectively in

environments without a lot of process. Some people thrive on the energy of a startup and the

chance to wear multiple hats, while others are frustrated by what they perceive as an unfocused

or chaotic environment. Job seekers need to decide which environment is right for them and then

convince prospective employers in interviews that their personality and work habits are a good fit

for the business environment and culture, says Winston.

Being open to new environments requires self-examination. Consider what you’ve liked and

disliked about the corporate cultures you’ve worked in. Also, ask yourself the standard interview

questions: What is your ideal job? Describe your best (and worst) bosses. What do you look for

in a new employer? Your answers to these questions will help you determine which environment

is best for you.

Next: Compete Effectively with Consultants

5. Compete effectively with consultants.

One of the biggest swings in the job market since the last downturn has been in employers’

move to augment their staff with consultants and contractors, says Rosenberg. Companies have

turned to consultants, who are often as experienced as full-time employees but generally cost

less, to scale their staffing levels up or down as needed, in response to changing economic

conditions.

“Employers want the immediate deliverable that a consultant can bring, with the lower overall

costs and risks of a full-time employee,” says Rosenberg.

Consequently, employers’ openness to hiring consultants has changed their initial expectations

of their new hires: Since consultants are brought onboard to have an immediate impact on a

specific problem, and since employers see consultants and full-time employees as roughly

equal, employers want full-time workers to have the same immediate impact on a company that

a consultant has, says Rosenberg.

To compete with consultants in this economy, job seekers need to convince prospective

employers that they’ll quickly get up to speed and deliver results.

“You need to demonstrate throughout—on your resume, your application and in your

communications with a targeted employer—that you have delivered results on the problem the

employer is facing,” says Phil Wallner, president of Provident Link, an IT and executive recruiting

firm. When your communications with prospective employers address their problems and

describe how you’ve solved similar problems in the past, hiring managers will say, ‘I need to talk

to this guy!’ says Wallner.

6. Focus on revenue.

In a down market, the bottom line still requires sales “above the line” to keep the company alive

and growing. Even if you’re not in sales, you should highlight the work you’ve done that directly

improved business development, pre- and post-sales support, upselling and cross-selling

activities, vendor and partner negotiations as well as business process efficiencies that led to

greater client/customer satisfaction, according to executive recruiters. Doing so will show your

focus on revenue growth and will help you differentiate yourself as a business builder.

7. Your resume is a marketing tool, not a bio.

Resume writing is tricky business. You have to provide just enough information to pique the

recruiter’s or hiring manager’s interest in learning more about you. But if you offer too much, they

can make a snap decision that lands your resume in the trash.

Complicating matters is the need for resumes to address three different audiences

simultaneously: a junior recruiter or HR person screening for certain keywords, the senior

recruiter looking for skills and experience, and the hiring manager, who is looking for team fit and

specific relevant successes, says Marc Cenedella, founder, president and CEO of

TheLadders.com.

Executive recruiters, resume writers and career specialists recommend that job seekers spend at

least three to four hours customizing each resume for each opportunity. Tailoring your resume to

each opportunity is even more critical in a sluggish economy and competitive job market:

Employers want specialists with specific, creative solutions, not generalists with vague ideas.

To ensure that your resume works for (and not against) you, I recommend writing it more like a

proposal than a job description. Focus on the immediate results you can offer as well as the

long-term benefits you bring. Explain how your subject matter expertise can help your target firm

address its specific challenges and opportunities and how your leadership and executive skills

achieve bottom-line results. The key is to make your points relevant to the employer, not to your

ego. In other words, it doesn’t matter if you were top dog in your prior firm; you need to clearly

show how your experience as the top dog will benefit your prospective employer.

One way to present challenges you’ve addressed on your resume is using the STAR analysis

process, which breaks your challenges into situations, tasks, actions and results. What was the

initial situation you walked into? What task or responsibility did you take on? What actions did

you undertake? What were the immediate and big-picture results? A shorter version calls for

simply noting each major challenge and accomplishment, generally in a case study-like format.

The point is to present the greatest information relevant to the prospective employer’s needs in

the briefest context.

Also, use search engine optimization (SEO) techniques to make your resume keywords from the

job specification and from your research on the firm and the industry. You want your resume to

repeatedly stress “company insider” terms and keywords can differentiate you and your resume

from all the others. Recareered’s Rosenberg says your resume will get more hits from scanning

software and more eye contact from humans (and you’ll get more interviews) when your

strongest keywords are in the top one-third of your resume.

After putting all that time and effort into your resume, it would be a shame for a recruiter or hiring

manage to reject it on the basis of a spelling or grammatical error—or to have it get trapped in a

spam filter. If you aren’t using a professional resume writer, then at least have one other person

review your resume. If you are in a crunch and must send your resume without another reviewer,

here’s a trick I learned from a Discovery Channel article on brain functionality: reading text

backwards forces your brain to re-review each word individually. Use Lyris Content Checker to

pre-scan your resume and cover letter to ensure that innocuous words don’t get blocked as

spam.

Next: Think Long-Term

8. Try to be perfect.

With so many job seekers available, recruiters are being told to keep looking until they find an

exact match. Candidates who are landing positions in today’s economy are—by strategy or by

luck—perceived to be “ideal” candidates. Such ideal candidates are confident and they’re

genuinely passionate about the job, company and industry. Hiring managers consider confidence

and passion top qualities.

To make sure you’re playing your A-game on interview day, spend time beforehand scripting and

rehearsing your answers to interview questions about your strengths and weaknesses, says

Chris McCann of Gregory Laka and Company executive search.

McCann also recommends being prepared to explain how you developed staff beyond providing

company paid training. For example, did you serve as a mentor? “Noting how some of those

individuals have succeeded demonstrates your personal connection and commitment to your

team,” he says.

Finally, make sure you know the intimate details of your resume and all of your

accomplishments, adds McCann. You need to be ready to elaborate in great detail on processes,

facts, time lines, technologies, costs and all manner of statistics on all firms and projects directly

related to the position for which you are interviewing.

9. Be prepared to be flexible. VERY flexible.

The job market is not the same across the country. Some states are creating more new jobs than

others. You may need to move. If international work appeals and is open to you, consider work

outside the U.S.

In addition to being open to relocating, you may have to bend over backwards to get a job or

impress an employer. An executive recruiter I interviewed for this story told me about a candidate

who moved from third or fourth choice to top selection when he offered to work as a consultant to

start, at half the rate for six months in a contract-for-hire option. By lowering his rate and starting

out on contract, this candidate showed his willingness to mitigate the risk his prospective

employer would be taking on by hiring him full-time. Notably, the candidate didn’t go to this length

because he was desperate for any job. He made some upfront sacrifices because he really

wanted this particular job with this particular employer, the recruiter told me.

Another candidate offered to fly cross-country on his own funds to meet with a CEO who was on

vacation at the time. By being extremely flexible for the CEO, the candidate met him in a much

more informal and relaxed environment. This expensive and risky strategy worked for the

candidate—who, again, was not desperate for any job. He got what he felt was the perfect job for

him.

10. Plan for the long term.

Don’t stop your search until at least 30 days after your first day on your new job. I know

colleagues who’ve had job offers rescinded or who’ve been laid off—not for performance

reasons but for the company’s financial reasons—within their first 90 days who then have had to

start their job searches all over again. (I’ve experienced this, too.) Consequently, some job

search experts recommend that new hires keep interviewing for other jobs during their first 90

days at their new employer since that’s a standard trial period for new hires during which

employers can let them go for any reason.

If you focus your efforts on companies in growth industries where your skills are suited, and if

you emphasize your ability to have an immediate impact on prospective employers’ bottom lines,

you’ll be poised for success no matter how bad the economy. As Gregory Laka and Company’s

McCann notes, “There are not a lot of people who can leave their thumbprint on a business.

Those individuals are the top 10 percent of the talent pool. They are the people that businesses

will always look to hire no matter what the market or economy.”

Mark Cummuta writes the CIO Job Search blog on CIO.com.

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In a statement after a two-day meeting of its rate-setting committee, the Fed said it would maintain interest rates at “exceptionally low” levels near zero “for an extended period” to ensure the economy keeps recovering from its deepest recession since World War II.

“Economic activity continues to pick up and the deterioration in the labor market is abating,” the Fed said. “Household spending appears to be expanding at a moderate rate, though it remains constrained by a weak labor market, modest income growth, lower housing wealth and tight credit.”

In an announcement closely watched by financial markets, the Fed said it would continue to remove the extraordinary stimulus it provided to credit and money markets in the past two years as the economy recovers. The Fed ended its purchases of Treasury securities this fall, and remains on track to stop purchasing much of the nation’s mortgage-backed securities by the end of March.

In addition, the Fed announced plans to terminate programs it established during the financial crisis a year ago to provide emergency loans to Wall Street brokers and rebuild the shattered commercial paper market.

The termination of the emergency programs is aimed at assuring investors who are increasingly worried about a return of inflation once the economy recovers, fueled by the Fed’s easy-money policies.

The Fed remained confident that inflation would stay at bay, however, saying it expects inflation would be subdued as long as the economy remains slack, with businesses operating at only a fraction of their capacity to produce and unemployment at 26-year highs over 10 percent.

For last month, the Consumer Price Index, the most closely watched inflation barometer, rose 0.4 percent. That was up from a 0.3 percent increase in October.

The government said energy prices rose 4.1 percent, reflecting more expensive fuel oil and gasoline. Energy prices, though, are already in retreat. Oil prices are down about 10 percent this month.

At the same time, home construction rebounded in November after a setback in October. And applications for new building permits – a gauge of future activity – rose more than economists had predicted

The Dow Jones Industrial Average fell 10.88, or 0.1 percent, to 10,441.12, after rising as much as 58 points.

The broader Standard & Poor’s 500 Index rose 1.25, or 0.1 percent, 1,109.18. It is up 22.8 percent for the year. The Nasdaq Composite Index rose 5.86, or 0.3 percent, to 2,206.91.

Bond prices mostly fell, pushing yields higher, following the Fed’s more upbeat assessment of the economy. The yield on the benchmark 10-year Treasury note was flat at 3.60 percent from late Tuesday.

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