No Hint of Recession in This Current Job Market
Sure, the possibility of a recession has been a hot topic in the news media during the past several weeks. However, here are a few facts:
- Nobody has ever been able to predict exactly when a recession is going to begin. (Not with any degree of accuracy, that is.)
- The U.S. Stock Market is still trading near an all-time high level, regardless of recent fluctuations.
- Members of Top Echelon Network have made more placements through the first eight months of this year than they did through the first eight months of last year.
- Placements in Top Echelon Network have increased in four of the past five years.
And if these facts aren’t enough for you, we also have recent poll results from our recruiting network. Specifically, we have the poll results outlined below. Those results tells us the following:
- Over a third of Network member agencies (36.1%) are working more job orders right now than they were a year ago at this time.
- Nearly two-thirds of Network member agencies (73.6%) are working either the same number of job orders or more job orders than last year.
- Over 90% of Network members have lost at least one top candidate this year because their clients are moving too slowly.
Put all of that together, and the conclusion is that there is no hint of a recession in this current job market. Yes, the well-paid pundits and prognosticators continue to debate “doom and gloom” scenarios. However, the members of the Baby Boomer Generation are still retiring by the droves, and there is still a serious talent shortage within most industries.
So right now, the focus should not be on the theoretical start to a recession that nobody can predict. It should be on “making hay while the sun shines.”
Because even though summer is now technically over, the sun is STILL shining.
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How would you describe the number of job orders your agency is working, as compared to a year ago at this time?
The choice of answers that we provided is listed below, along with the percentage of recruiters selecting each one:
- We’re working more job orders. — 36.1%
- We’re working roughly the same number of job orders. — 37.5%
- We’re working fewer job orders. — 26.4%
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How many top candidates have you lost this year because your clients moved too slowly?
The choice of answers that we provided is listed below, along with the percentage of recruiters selecting each one:
- None — 9.3%
- 1 or 2 — 29.1%
- 3 or 4 — 36.0%
- 5 or 6 — 16.3%
- More than 6 — 9.3%
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When you close a deal, do you:
The choice of answers that we provided is listed below, along with the percentage of recruiters selecting each one:
- Ring a bell. — 12.7%
- Do a dance. — 11.4%
- Belt out a rebel yell. — 6.3%
- Schedule a round of golf. — 2.5%
- Make another call. — 38.0%
- Celebrate some other way. — 29.1%
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Just a reminder: we post a poll question in the Members’ Area every week. Once you participate in the poll, you can see the results as other Members cast their votes.
We usually post a new Members’ Area poll question on Monday. We usually do that, but we don’t always do that. We don’t like to be predictable.
If YOU want to make more split placements and increase your production, then contact Director of Network Operations, Drea Codispoti, CPC/CERS. You can reach Drea by calling 330.455.1433, x156 or by sending an email to drea@topechelon.com.