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The impact of the current turmoil in financial markets has had a traumatic effect on countries, companies and, most of all, people. In a very short period of time we have seen a dramatic turnaround in the employment market. Companies have had to look at ways of reducing costs and one of the quickest ways of doing this is to lower staff headcount.

Firms will not take the decision to make people redundant lightly, and the choice is rarely personal, but the fact remains that this can be one of the most distressing times for people, particularly when the outlook for the Irish economy looks so bleak.

So what should you do if the worst happens? The current market offers fewer opportunities than in recent years so you will need to be more flexible. You should view job-hunting in the same manner as any task you complete within a professional environment, and planning the best way to achieve the result you’re looking for is paramount.

Sort out your CV

The first task is to maximise the impact of your CV. Remember, CVs are viewed on both a computer and as a printed document and therefore the layout of should be adaptable to both formats. The most straightforward piece of advice I’d give is ‘keep it simple’ – you’d be surprised how many people feel creating a work of art helps you get noticed. It doesn’t.

Companies tend to find two pages sufficient for most CVs. We would only suggest three pages if you have held a number of senior roles, and one page can be viewed as having limited experience. What’s more, few recruiters have the time or patience to read more than two pages.

This might seem trite, but make sure that your spelling and grammar are impeccable because basic errors will be held against you.

Know all your options

It’s integral that you try all the routes to finding a new job available to you. Recruitment agencies, word-of-mouth, job websites, direct applications, newspaper advertisements and networking – use them all.

Research the firms and recruitment agencies that cover your market and get in touch with them directly. The volume of roles may not be in line with recent years, but the good ones will always have something available for you.

Get on the internet every day and view the job websites to see if anything new has been posted overnight, and apply to companies that may have been your competitors in the past. Most importantly, keep talking to people you know within your industry, as such contacts could prove invaluable in these difficult times.

Rein in salary expectations

The fact remains that when times are tight, you might not be able to find your dream job and you have to remain adaptable in terms of the type of role you undertake, as well as remuneration. Do not go into interviews expecting more money – it simply isn’t going to happen in this market. The most important thing is to get back into employment as soon as you can and build on the role once you’re in the company.

Paul Cotter is director of financial recruitment firm Cotter Personnel. He can be contacted on pac@cotterpersonnel.ie. For more career advice, go to www.befree.ie