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Current State of the Economy

May 19, 2009

We are now well into 2009 and what a start we have had! Down turns, up turns and wrong turns in most every industry. In my 10+ years of recruiting experience I have never experienced anything quite like this on a national level.  Every day I am increasing amazed at the poor decisions that are being made by all sizes of organizations.  HR departments are handing out pink slips faster than you can count but re-hiring quietly on the side!  Unfortunately, most HR departments are still in an adversarial position against the use of Recruiters and are attempting to block the use of our services at every turn.  Self preservation seems to be their motive.  They seem to have forgotten that we make them look good and our service fee for a top level candidate is incidental on the scope of the overall budget within an organization. The impression is that there are hundreds of top candidates just waiting to take a job and they are a dime a dozen.  Guess what, this is far from the case! Candidates are being extremely selective with the organizations they consider and are saying NO at an alarming rate!  Quality of life and overall potential are heavily considered even before the interview takes place.  The use of internet is where HR departments focus their main search efforts producing the “low hanging fruit” type of candidates that are more interested in an immediate buck and not a career.  A main complaint I hear from candidates today is that they apply and apply to a companies posting with a “black hole” result.  Even highly qualified candidates fall through the crack with the overwhelming resume response that plagues the HR department for every posting they have listed.  Top candidates are turned off/form a poor opinion of the company and move on to your competitor because of poor communication and overall negative impression of this process.  I now find myself utilizing all of my sales skills to harvest these top candidates using every sales tool in the book.  The most desirable candidates are passive and not really “on the market” for a new opportunity and need to be sold in order for you to interview them.  There is a shortage of the “most desirable” candidate and this shortage will increase for the next few years.

On the Bright side:

The most recent predictions and inside industry buzz is that the “Big Turn” is about to hit.  Companies have taken advantage of the “Economy” issues with massive downsizings/rightsizings to such a degree they find themselves facing a simple fact that they no longer have enough people/talent to actually get the job done.  An interesting fact is that “Top Management” no longer has enough people to point the finger of BLAME at for their often poor decisions and guess what; the real economy for most companies is simply not that bad! It is NOT a failure for a company to grow but not reach unrealistic predictions made to over ambitious stockholders! Yes, there are industries that have seen a better time and may not survive but let’s not overlook the thriving organizations across the country with bright futures and solid success stories.  Change is constant and so must we change.  The smart organizations are hiring the top available talent NOW in preparation for the upturn that will inevitably occur.  I am proud to say that we are having one of our best years and have continued to grow.  I have recently added 2 new recruiters to meet the growing demands of our clients!  So, let me know your thoughts and issues facing you in this ever changing state of the economy!