THE JOB MARKET IS BACK...no...wait...maybe not?
Ups & Downs...isn't that what life is about?
The past 2 years have taught a lot of us about living life on life's terms.
None of us has control over: Natural Disasters, The Stock Market, The Unemployment Rate, Corporate Re-Structuring, Budgets For New Hires, etc.
Change is an ABSOLUTE...but change is also TEMPORARY (unfortunately, it tends to feel like a very long time when the change brings about great challenge).
Just in case you were in a coma...let me bring you up to speed...
- 2008 saw a decline begin in the economy, real estate market & eventually hitting the job market
- 2009 was the worst year for EMPLOYMENT in nearly 30 years - within 90 days; I saw the biggest names in BEAUTY, ADVERTISING & ENTERTAINMENT simply STOP HIRING. In addition; these Hiring Freezes were followed by massive restructuring and lay-offs. No jobs...no temp...temp to perm...NOTHING. Job Fairs popped up all over NYC with lines resembling an American Idol audition...and they continue today.
- 2010 we begin to see/hear that things may be turning around. My colleagues in Financial Services and IT recruitment start to see business improve dramatically before the first quarter ends. It was not until the end of March...early April that I saw Clients/Employers in BEAUTY, ADVERTISING & ENTERTAINMENT really begin to interview & hire...
and now we are here...JUNE, 2010!
To be honest...I'm not sure where HERE is. Some clients definitely have new budgets and are committed to HIRING...while others appear to be "WINDOW SHOPPING". By this I mean...they have a luke warm interest in hiring - and are really more interested in SEEING THE TALENT POOL out there now...than pulling the trigger.
As a result; many of the job seekers I speak...as well as myself are frustrated by a lengthy - multiple interview process over a 4-6 week period that results in a NO DECISION...or a COMMUNICATION BREAKDOWN. I have met more candidates in the past 2 months who are in interview processes that began months ago...and that they have no idea where the Employer is at in their decision making process.
It is in this economy that many employers make the mistake of believing they are in a position to DRAG THEIR FEET, NOT BE RESPONSIVE, OR WASTE CANDIDATE'S TIME...because they feel THEY CAN. Either an overinflated view of their company...and its offerings...or this perception that there is SO MUCH TALENT OUT THERE...they will just put people through a RIDICULOUS process...until they are ready to make a decision...or have a better idea of what THEY want.
The reality is...that despite the high unemployment rate...EXCEPTIONAL CANDIDATES/ EMPLOYEES are HARD TO FIND. Companies trimmed the FAT....("B" level employees & lower)...and kept their TOP PERFORMERS. These top performers have stayed in jobs they are not happy with...due to the current economy/job market. These employees often took pay cuts - lost most of the support they had...increased their workload...and more!
It is these "A" candidates that are now EXPLORING THE MARKET! Companies no longer have the comfort of knowing their top people have little to no options. as this shift in leverage continues; these people vacating their positions for greener pastures will create new openings...not anticipated by the employer. This will create a greater demand for WORKFORCE TALENT...and competition will make securing these people even more challenging.
This action will also open up the market (EVENTUALLY) for those who have been out of work for some time - with gaps in their resume...or those who fit 80% of the job spec - WHO UP UNTIL NOW ARE NOT BEING GIVEN MUCH CONSIDERATION BY A VERY PICKY...STRINGENT EMPLOYER POOL!
THE GOOD NEWS...
It is Summer...and the weather is beautiful! The Yankees are playing several times a week...and winning most games! The market seems to be ODDLY moving forward in a positive direction...economically...and from an employment perspective. So...if you STOOD TALL in the challenging market of the past 18-24 months...BE PROUD...and go in search of a new career opportunity!
The below is a snapshot of current opportunities at THE TALENT MAGNET:
SENIOR BRAND MANAGER (COSMETICS/BEAUTY) 120K + 20% bonus
DIRECTOR OF PUBLIC RELATIONS (LUXURY/BEAUTY) 90K + 10% bonus
DIGITAL STRATEGIST (Boutique Ad Agency) - 80K
DIGITAL MANAGEMENT SUPERVISOR (Iconic Brand/New Campaign) - 120K
SENIOR & EXECUTIVE WEB PRODUCERS (HOT Digital Agency) - to 120K
DIGITAL GROUP DIRECTOR (Amazing Consumer Electronics/Telecom Account) to 200K
MAGAZINE AD SALES (Jr. Account Executive) 1 yr of experience - 40K base + commission
" Today, I have faith that if I continue to do the next RIGHT THING...that only good things will come to me" - SK
The past 2 years have taught a lot of us about living life on life's terms.
None of us has control over: Natural Disasters, The Stock Market, The Unemployment Rate, Corporate Re-Structuring, Budgets For New Hires, etc.
Change is an ABSOLUTE...but change is also TEMPORARY (unfortunately, it tends to feel like a very long time when the change brings about great challenge).
Just in case you were in a coma...let me bring you up to speed...
- 2008 saw a decline begin in the economy, real estate market & eventually hitting the job market
- 2009 was the worst year for EMPLOYMENT in nearly 30 years - within 90 days; I saw the biggest names in BEAUTY, ADVERTISING & ENTERTAINMENT simply STOP HIRING. In addition; these Hiring Freezes were followed by massive restructuring and lay-offs. No jobs...no temp...temp to perm...NOTHING. Job Fairs popped up all over NYC with lines resembling an American Idol audition...and they continue today.
- 2010 we begin to see/hear that things may be turning around. My colleagues in Financial Services and IT recruitment start to see business improve dramatically before the first quarter ends. It was not until the end of March...early April that I saw Clients/Employers in BEAUTY, ADVERTISING & ENTERTAINMENT really begin to interview & hire...
and now we are here...JUNE, 2010!
To be honest...I'm not sure where HERE is. Some clients definitely have new budgets and are committed to HIRING...while others appear to be "WINDOW SHOPPING". By this I mean...they have a luke warm interest in hiring - and are really more interested in SEEING THE TALENT POOL out there now...than pulling the trigger.
As a result; many of the job seekers I speak...as well as myself are frustrated by a lengthy - multiple interview process over a 4-6 week period that results in a NO DECISION...or a COMMUNICATION BREAKDOWN. I have met more candidates in the past 2 months who are in interview processes that began months ago...and that they have no idea where the Employer is at in their decision making process.
It is in this economy that many employers make the mistake of believing they are in a position to DRAG THEIR FEET, NOT BE RESPONSIVE, OR WASTE CANDIDATE'S TIME...because they feel THEY CAN. Either an overinflated view of their company...and its offerings...or this perception that there is SO MUCH TALENT OUT THERE...they will just put people through a RIDICULOUS process...until they are ready to make a decision...or have a better idea of what THEY want.
The reality is...that despite the high unemployment rate...EXCEPTIONAL CANDIDATES/ EMPLOYEES are HARD TO FIND. Companies trimmed the FAT....("B" level employees & lower)...and kept their TOP PERFORMERS. These top performers have stayed in jobs they are not happy with...due to the current economy/job market. These employees often took pay cuts - lost most of the support they had...increased their workload...and more!
It is these "A" candidates that are now EXPLORING THE MARKET! Companies no longer have the comfort of knowing their top people have little to no options. as this shift in leverage continues; these people vacating their positions for greener pastures will create new openings...not anticipated by the employer. This will create a greater demand for WORKFORCE TALENT...and competition will make securing these people even more challenging.
This action will also open up the market (EVENTUALLY) for those who have been out of work for some time - with gaps in their resume...or those who fit 80% of the job spec - WHO UP UNTIL NOW ARE NOT BEING GIVEN MUCH CONSIDERATION BY A VERY PICKY...STRINGENT EMPLOYER POOL!
THE GOOD NEWS...
It is Summer...and the weather is beautiful! The Yankees are playing several times a week...and winning most games! The market seems to be ODDLY moving forward in a positive direction...economically...and from an employment perspective. So...if you STOOD TALL in the challenging market of the past 18-24 months...BE PROUD...and go in search of a new career opportunity!
The below is a snapshot of current opportunities at THE TALENT MAGNET:
SENIOR BRAND MANAGER (COSMETICS/BEAUTY) 120K + 20% bonus
DIRECTOR OF PUBLIC RELATIONS (LUXURY/BEAUTY) 90K + 10% bonus
DIGITAL STRATEGIST (Boutique Ad Agency) - 80K
DIGITAL MANAGEMENT SUPERVISOR (Iconic Brand/New Campaign) - 120K
SENIOR & EXECUTIVE WEB PRODUCERS (HOT Digital Agency) - to 120K
DIGITAL GROUP DIRECTOR (Amazing Consumer Electronics/Telecom Account) to 200K
MAGAZINE AD SALES (Jr. Account Executive) 1 yr of experience - 40K base + commission
" Today, I have faith that if I continue to do the next RIGHT THING...that only good things will come to me" - SK
