Strategies for the underemployed when unemployment numbers are so small

When you are struggling in your job search or you’re not fully employed, you can find yourself at the end of your rope.

Then you listen to the news and economic experts and job agencies provide favorable reports, such as the private sector employment increased by 214,000 jobs from January to February, according to the February ADP National Employment Report.

Mark Zandi, chief economist of Moody’s Analytics, recently said, “Despite the turmoil in the global financial markets, the American job machine remains in high gear.”

Really?

Though unemployment has noticeably decreased below 5 percent, there is an elephant in the room — the number of underemployed workers is increasing.

The reality is that underemployed status is affecting people everyday. We have a workforce that is quietly performing jobs that do not require the level of education or the skills that they have. Many of these people are underpaid and/or overworked.

In addition, America is witnessing more and more discouraged workers who are either not in the labor force or who are involuntarily working part-time jobs that lack benefits. But they need to work a full-time job with benefits. I’ve never seen the American workforce so furious and becoming so totally withdrawn.

Even worse are the college graduates who are in low-wage and part-time positions as it has become harder to find education-level appropriate jobs.

According to a recent Payscale.com survey, 43 percent of respondents across age groups and occupations in the United State identified themselves as being underemployed.

Although the underemployed appear to be a new norm for America’s workforce, help is on the way and I have a few suggestions to assist in breaking the cycle or avoiding this status all together.

One strategy is to accurately assess the market that you desire to work in.

There is plenty of free data available today that will provide you with keen insight into the value you bring to the labor market. For example, tools like Salary.com, Glassdoor.com, and Payscale.com give a quick snapshot as well as in-depth look at salary information for a given job title and industry in your city. You may have to provide some information to get more details.

Jonathan Smith, store manager at a Starbucks in Lexington, left a full-time management position a couple years ago in the restaurant industry because of the enormous hours. He has two degrees from Eastern Kentucky University and was underemployed waiting tables for six months before networking with friends led him to a job recruiter.

Without networking and using Glassdoor.com, Smith would be still looking for employment, he said.

Visit the federal Bureau of Labor Statistics table of Occupational Employment Statistics. It offers a wealth of salary information drawn from its employer surveys.

Perhaps the simplest methods to secure salary information is to Google it. This provides you a quick and easy way to see a snapshot when you type in a job title, location, company name, and the word “salary” or “compensation.”

Based in Seattle, Wash., Payscale.com was founded in 2002. Like Salary.com, it offers access to up-to-date data in exchange for information from users. More than 30 million user have submitted profiles and data on millions of employers.

Payscale.com provides some of the most current trends and research from the employer perspective. It will help you gain a competitive edge. Its most recent survey of 3,000 employers was about annual compensation best practices that showed a key shift in companies.

“We are in the midst of a sea change in the way companies think about compensation,”said Mike Metzger, President and CEO at PayScale. “More employers realize the importance of adopting innovative approaches to pay in order to retain the people who are making the largest impact.” The survey provides excellent insight.

Another shift occurred in 2015: 74 percent of all companies gave bonuses, an increase of 5 percent over the previous two years. According to Payscale.com, performance-based pay increases were the primary reason for giving raises, far more common than cost of living adjustments or employee promotions. This information is important in whether or not you look for another job. Is your company among those that are willing to pay for top performers?

Last year, 81 percent of these highly successful companies reported giving bonuses (compared to 74 percent of average companies) and half of all top-performing companies who gave bonuses in 2015 are increasing the size of their bonus budget in the coming year. In addition, top performing companies were nearly 5 percent more likely to give team bonuses than average companies.

Another strategy for your job search is to avoid staying too long in a position that doesn’t meet your goals, your education, your skills and your experiences. Sandra Brown, accounting manager with the State of Tennessee, experienced underemployment first hand. She said that staying in the position too long was the biggest obstacle to overcome.

But, “ I did the research, reflected on what I had to offer, sought support and advice, and overcame my fear to move to another position,” she said.

If you feel stuck, stop and assess the skills you need to move into that next position. But meanwhile, be sure to communicate the value and skills you already bring to your workplace. Simply going to work and punching a clock is not a good idea. Remember no matter what industry you are working in today; you need to protect and sell your brand.

Companies who are seeking top performers look for employees that are great team players, have a strong work ethic and a positive attitude, and are forward thinkers who take initiative. They want employees who network with peers, are trainable, dress appropriately, have strong communication skills, take responsibility and know how to get the job done right. Is that you on your job?

One last thing: embrace your facts or realities. Victoria R. Scott-Miller, who recently relocated to Detroit, Mich., said she saw herself as underemployed, and that realization is a great starting point. Understanding and accepting your current status is essential to developing a strategy and goals.

A social worker by training, Scott-Miller’s need for licensing or certification has changed over the years. Since she wasn’t active in the field for a number of years, she did not keep up with those requirements.

“Now it would take too long, and I am at retirement age and not willing to commit the time,” Miller said about her certification.

“I have been looking in other areas to work, but I know I have a finite time to continue to work so I probably will not overcome this situation,” she said.

But she’s actually in an excellent position to transition into a position of her choosing.

This story was originally published March 6, 2016 at 3:25 PM with the headline "Strategies for the underemployed when unemployment numbers are so small."