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The Times they are a Changin’
…..said Bob Dylan in 1964. They were changing then and they are changing again now. It seems as though we are coming out of this nasty recession. The bureau of labor statistics stated that Temporary Help Services added 40,000 jobs in March alone. The Federal Reserve Chairman, Ben Bernanke stated that temporary jobs usually grow for about 4 months before we start adding permanent jobs.
Shall we jump for joy? Perhaps this time it will be different for the Temp Staffing Industry and for Direct Placement. Educated clients are squeezing their labor budgets. They want more services and want to pay less. They are consolidating suppliers to cut internal costs and they are outsourcing many non core functions.
Will you want to shave your margins to retain clients? Do you to fight pricing with the big public companies? Or should you start right now looking at how you do business? Can you cut costs by using technology or by outsourcing some functions? Should you merge or partner with another firm to shave overhead costs? Until the economy gets overheated again it is a bit of a buyers market for talent.
Stay alert in 2010 because this time, it is different for our industry.
Jim Volpe
April 14th, 2010 at 9:19 am
I agree with you, Jim. It is a buyers market for talent. I don’t think the big companies are taking advantage of this the way they could and should be because they are focused on cutting costs. Even though the C-Level executives care dearly about talent, they arent involved in the day-to-day aspects of what it takes to do so. Small businesses have an unprecedented opportuntiy to poach top talent from these larger organizations because the large companies are at a standstill waiting to see whats gonna happen.