Although the recession has wiped out many careers, hiring continues, especially in some niches. Some, but not all, are highly-specialized, open only to people with related experience and training. Niches in the legal, medical and credit recovery field offer some opportunities worth getting a toe-hold into, then capitalizing on.
NICHES
Douglas Minor, president of Easy Credit Relief Inc., in Westlake Village, Calif., defies the stereotype of the fast-talking credit-recovery businessman. “We educate recovery from short sales, foreclosures, bankruptcy and debt-settlement,” he says. “We help people recover their credit score, dignity and self-worth .... This isn’t a life sentence. ” He maintains, however, that the need for businesses in his niche will continue long after the recession, because of credit ignorance.
“Parents don’t teach us enough about these things,” he says. “It’s sort of a perpetual problem. Until our society says credit education is important and essential, we will see continued need for this industry.”
Minor points out that financial educators and speakers, salespeople and those with experience in the mortgage industry can find opportunities in the field nationally. However, he cautions job seekers to research companies well, beginning with a company’s founding date, to avoid businesses that have formed since December, 2007, which might be capitalizing on a trend and not committed to helping clients change behaviors.
Three areas of medical staffing (in addition to clerical) are not only in demand but “somewhat recession-proof” in the eyes of Epoch Medical Staffing L.L.C., in Charlottesville, Va. Karen Barnes, partner, is observing high demand for physical therapists. “Anyone with a degree can get a job,” she comments.
Barnes credits the lively hiring of nurse practitioners (NPs) and physician’s assistants (PAs) to an attempt to cover responsibilities of physicians, who are in short supply. She also mentions informatics — electronic medical records — as a good field. She notes that because of the hospital approval process, which includes a certificate of (market) need, hospitals and medical facilities should be rather stable.
The legal field, a third area, has been unstable during the recession, according to Rahul Yodh, principal at Dallas’ Link Legal Search Group, an executive search firm. At the outset, most firms didn’t react, but the first layoff rippled throughout firms all over the country. Hiring freezes came next. “That’s loosened up since December,” he says. “Smaller and mid-sized firms that didn’t grow beyond their means or pay attorneys more than the market could sustain are very stable and open to hiring based on needs.” Their niches include bankruptcy, litigation, and labor and employment law.
Yodh advocates “looking for responsible behavior. Ask questions about stability, if the firm is overstaffed, if it’s cut back on expenses and if it’s laid people office in the past, because it shows they’ve accepted reality.” Experience in surviving recessions bodes well for their surviving this one.
THE FUTURE
When asked about settling into a niche that’s strong during a recession, Yodh points out that “there are no guarantees in life.” Although his advice applies to his field, it has broad application. Hedge your bets:
• Take on new responsibilities to diversify.
• Be a solid, continuous performer.
• Shoot for “the biggest and best deals,” those bringing you high visibility and prestige.
• Develop a portfolio of your work.
In the specialized medical industry, Barnes mentions that education is the key to the future. “The higher the educational level, the more opportunities you have,” she says. She specifically encourages RNs to become PAs and NPs.
Minor concurs that increased awareness of credit recovery trends, along with more education, training and certification, foster advancement into leadership.
Dr. Mildred Culp welcomes your questions at culp@workwise.net. Copyright 2010 Passage Media.
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