Finance & Banking Careers

Analysis of the BLS Employment Situation Report

2012-01-09T17:21:00.000-08:00

Management and Professional unemployment falls from 4.6 down to 4.2% year over year. Or to look at it another way in these ranks employment has risen from 95.4% to 95.8%!

MRINetwork Analysis of the BLS Employment Situation Report

December 2011 Employment

The full report can be seen here: http://www.bls.gov/news.release/empsit.htm.

Total U.S. employment grew by 200,000 positions in December, while the unemployment rate fell from an adjusted 8.7 to 8.5 percent. Government payrolls lost just 12,000 positions over the month, though the total is down 280,000 from a year ago.
A falling unemployment rate can occasionally report false positives - which could have happened last month - when the number of unemployed people counted is reduced because discouraged workers having not looked for work in the preceding month. In December’s figures, however, the number of people who have searched for a job in the previous 12 months, but not in the last four weeks, actually declined both sequentially and year-over-year. Similarly, the workforce participation rate remained unchanged at 64 percent. All in all, what appear to be positive top line numbers don’t seem to have any significant underlying red flags observed in a number of reports throughout 2011.

Transportation and warehousing positions rose by 50,000, with four-fifths of those coming from seasonally high employment in the courier and messenger industry. This would include the likes of FedEx and UPS, but not the U.S. Postal Service, which also added 2,600 positions. Retail trade added 28,000 positions led by general merchandise and clothing stores. They were countered, though, by a loss of 10,200 jobs by sporting goods, hobby, book, and music stores, likely the result of the continued closing of the Borders Books and Music chain. Other industries that saw gains included food service and drinking places, healthcare, manufacturing, and mining.
Professional and business services, after adding an average of more than 40,000 jobs per month for most of the year, slowed during November and December, adding just 19,000 and 12,000 jobs respectively. While such employers do often complete critical hires during these months, total hiring will slow down due to holidays and vacations. Year-over-year, the management and professional and related occupation unemployment rate fell from 4.6 to 4.2 percent. The number of people employed in such positions rose by 1.1 million from a year ago, representing the lion’s share of the 1.5 million positions created in the workforce overall.

A significant portion of the jobs created in December came from industries likely to be impacted by the holiday shopping season - jobs that are temporary by nature. However, the level at which this hiring took place indicates an increased confidence from these employers, likely because of what they were seeing in their business. Should this confidence carry over to the rest of the economy, other professional services and manufacturing businesses should, hypothetically, see similar boosts in the coming quarter.

Stan Taylor, CSAM, 877-695-4688, ext 112, staylor@mrvancouver.com

Dec 2011 First Friday Preview

2012-01-05T10:56:00.000-08:00



	December 2011 • • • • • • • • • • • • • • • • • Featured ArticleReaching Top Talent as a Path to Growth Notable Global Events Spotlight on Latin America Region Proves Read for More Stable Growth Spotlight on WashingtonDiverse Industries Show Strength, Set Stage for Growth		• • • • • • • • • • • • • • • • • • • • • • • • • • •
	Featured Article
	Reaching Top Talent as a Path to Growth The recession and broader economic slowdown have given business leaders the cover they need to make sweeping changes to their business structures. For some, it has meant sending core processes overseas, for others, it has meant investing in technology that would automate tasks once carried out by humans. It’s why in the depths of the recession, economic output per hour worked actually skyrocketed, growing at over 5 percent for more than a year. After a decade of lightning-speed technological advancements, the recession was a well-placed opportunity for businesses in almost every sector to look for ways to streamline their processes and improve efficiency. It allowed many companies to mitigate the impact of the recession on their bottom lines. Yet, the law of diminishing returns means these methods will only work for so long. Eventually, growth will need to come from growth. “You would be hard pressed to find a company that has managed long-term growth without investment. That investment normally needs to begin with human capital,” says Rob Romaine, president of MRINetwork. “After a deep recession that affects people at every level, trying to expand through increasing workloads can be counterproductive as employees are pushed past their tipping point, leading to increased turnover.” New hires intended for growth, however, can be some of the most difficult. As a company expands laterally, or even horizontally, new positions with unique qualifications become necessary. Existing in-house recruiting pipelines can often fall short of meeting the demand of new pools of candidates required. When an organization creates a new position, it calls for a very different type of candidate than if the position was already in existence. Finding the types of candidates ready to take on such a task frequently, if not exclusively, requires reaching deep into the workforce of current and would-be competitors to find people who can not only do the job, but define the job. “The type of top talent you want to recruit aren’t going to answer the phone when a competitor calls them - much less be actively applying to job openings - automatically screening out some of the best new staff you could bring aboard,” notes Romaine. “That exact same candidate though, will likely not only take a call from an industry recruiter; they may already be working with one.” Acting as a third party, an industry recruiter can work with hiring managers not only to create what the job description for a new role might look like, but also help them understand what types of candidates are already in the passive candidate market. They can map out a search strategy to identify, screen, and eventually recruit the correct person. “The most effective employees are almost by definition the most engaged. They are invested in their jobs and aren’t actively considering other employment. But it’s also not going to stop them from taking a look when an opportunity arises,” says Romaine. “In recessions and boom times, these passive candidates end up being the most consistently successful and effective hires a company can make.” For companies that have already made all the easy fixes to productivity, growth in a sluggish 2012 economy may only be found through investing in growing workforces and recruiting top passive candidates.
	Notable Global Events
	European unemployment rose rapidly in October, reaching 9.8 percent in the EU27 and 10.3 percent in the EA17, surpassing its previous highs early in 2010. The Japanese Statistics Bureau has begun again reporting employment figures for the entire country, no longer excluding those regions worst hit by the March 11 earthquake and tsunami. Total unemployment has actually fallen from 4.7 percent at the time of the disasters to 4.1 percent in September.
	Spotlight on Latin America
	Region Proves Ready for More Stable Growth As the world has undergone the worst global recession since at least the Great Depression, Latin America’s economy has moved almost in the opposite direction. This has really just been the extension of nearly two decades of improvement in the quality of life in the region. Over the last few years, extraction of natural resources, including coal and precious metals, from throughout Central and South America has helped to fuel those economies while their North American and European trading partners entered recession. Brazil alone has become a leading provider of iron ore, gold, and natural gas, selling much of its products to Asia. But the influx of cash into the Brazilian economy while the world was still in recession put Brazil on a dangerous path toward inflation. The Brazilian Central Bank tried to tighten available credit by raising its benchmark SELIC interest rate as high as 12.5 percent. While the bank states it would like to see a 4.5 percent rate of inflation, it is expected to end 2011 with a rate of nearly 6.5 percent. Now, the economy has started to slow, and it is estimated to grow just 3.1 percent in 2012 while meeting its 4.5 percent inflation target. The slowing economy has caused the bank to reverse course in recent months, cutting the SELIC 100 basis points since August in the hope of giving the economy a “soft landing.” Other Latin American countries that had also been raising interest rates have stopped in recent months, and are now considering cuts as well. “Latin America has seen its fair share of hyperinflation over the last few decades,” notes Carlos Rivera, Managing Director of MRINetwork Global Search, an MRINetwork affiliate in Mexico City. “Should monetary policy continue to succeed as it appears to be, this could help to relieve many of the negative stereotypes about Latin American economies, allowing for more confident foreign investment.” Argentina, Chile, Brazil, Bolivia and Peru all saw hyperinflation in the 1970s, 80s, and 90s. In 1990, Brazil’s annual rate of inflation rose more than 30,000 percent and didn’t reach a comparably tame 16 percent growth rate until 1996. Latin America is well-positioned to become the economic powerhouse of the 21st century with a combined GDP of more than 6 trillion US dollars. If Latin America were a unified economy, it would be the fourth largest behind the U.S., the EU and China. But unlike China, Latin America remains mineral-rich, and unlike the EU, it has only two predominant languages. “Multiple Latin American countries have seen their currency risk hyperinflation, but a successful recovery will change the way companies look at doing business in Latin America,” notes Rivera. “A more stable path going into the next decade will mean substantial rewards for companies who enter the marketplace and gain market share today.”
	Spotlight on Washington State
	Diverse Industries Show Strength, Set Stage for Growth Foundational technology, military, biotech, alcohol; there are not many industries as fundamentally in demand as these - and all four have a growing presence in Washington State. Seattle is the birthplace of modern computing as much as Silicon Valley ever was. But while Silicon Valley is most well-known for cranking out high-flying, consumer-facing technology, Seattle has a more subdued record of producing technology products that have deeply engrained customers. Microsoft may not be around forever, but with 94 percent of new computers each year being shipped with the Windows operating system, the Redmond-based software behemoth isn’t going anywhere soon. Seattle’s own Amazon.com, which started as a simple online bookstore, has exploded as an online retailer of just about anything imaginable, and now provides the backbone for an immeasurable number of both retail and technology companies. But as Len Holmes, managing partner of The Lakewood Group, an MRINetwork affiliate outside Tacoma, notes, technology is just one slice of Washington State’s growing pie. As part of the 2005 Base Realignment and Closure Commission’s plan, Washington became home to one of the first U.S. military bases under the joint jurisdiction of both the Army and the Air Force. Joint Base Lewis-McChord combines two once-neighboring bases and shares their resources. The joint base is able to find efficiencies, theoretically reducing its economic impact. Units, equipment, and personnel from nearby closed military bases have been relocating to Lewis-McChord, providing a strong economic boon to the region. While the state’s biotechnology firms may be outshone to a degree by its consumer technology companies, that industry added more than $10 billion to the economy in 2010 and managed to grow its workforce nearly 9 percent from the beginning of the recession in 2007 to the first quarter of 2011. “Lingering questions over the state of healthcare legislation have recently put a damper on Washington’s enthusiastic biotechnology growth - specifically in the medical devices sector,” says Holmes, “Companies are being cautious about adding headcount as long as uncertainty remains.” Yet, such companies aren’t seeing their businesses shrink. In fact, they are holding onto cash that could fuel rapid growth once the industry’s future becomes clearer. Rounding out the state’s economic diversity is a rapidly growing wine business. Over the last two decades, the total acreage devoted to wine making has grown from 11,100 acres to more than 40,000, while the number of wineries grew from less than 80 to more than 700. In fact, nearly 200 new wineries have opened in Washington State since the beginning of the recession. “There are some very bright spots in Washington’s economy right now, but overall I don’t think we are feeling that buzz yet,” notes Holmes. “What we are seeing is a strong foundation of diverse sectors which are continuing to survive. Once the national economy picks up speed, they will be able to feed off of each other to start building again.”

Stan Taylor, CSAM
877-695-4688

2011-12-16T12:04:00.000-08:00

Happy Holidays & a Prosperous New Year,

Warmest Thoughts for 2012,

Stan Taylor, CSAM

Certified Senior Account Manager,

Banking and Finance Manager

MANAGEMENT RECRUITERS OF VANCOUVER, LLC

700 Washington St., Suite 508

Vancouver, WA 98660 USA

tel: 360-695-4688, ext 112

toll free: 877-695-4688 ext. 112

cell: 360-281-0880

fax 360-695-4384

staylor@mrvancouver.com

To View animated card:

http://www.mrinetwork.com/holidaycard/10is/

Sterling Financial to Buy First Independent Bank

2011-11-07T13:29:00.000-08:00

Posted on: November 7th, 2011

Thomas H. Lee and Warburg Pincus

Sterling Financial Corp., which is backed by Warbug Pincus and Thomas H. Lee Partners, said Monday that it would buy First Independent Bank to boost its presence in Portland and Vancouver in the U.S. Pacific Northwest, Reuters reported. Under the terms of agreement, Sterling Savings Bank would initially pay a premium of $8 million to the net value of the acquired assets and assumed liabilities of the 100-year-old bank, Reuters wrote.

(Reuters) - Sterling Financial Corp said its unit has agreed to buy First Independent Bank to boost its presence in Portland and Vancouver in the U.S. Pacific Northwest.

Under the terms of agreement, Sterling Savings Bank would initially pay a premium of $8 million to the net value of the acquired assets and assumed liabilities of the 100-year-old bank.

Sterling will also pay a premium of up to $17 million over 18 months after the deal closes, on the basis of credit performance of the acquired loans.

First Independent will retain about $49 million of existing loans and $34 million of other assets identified by Sterling, which will take over all of the community banker’s deposits.

This acquisition will add to Sterling’s existing franchise about $691 million in principally core deposits and $455 million of assets under management.

“We expect these product enhancements will not only be a source of additional non-interest revenue, but also provide significant benefits with both customer acquisition and retention,” Sterling Chief Executive Greg Seibly said.

The transaction is expected to be completed in early 2012 and add to Sterling’s full-year earnings per share.

Last year Sterling Bank undertook a massive recapitalization, which included capital infusions of $171 million each from Warbug Pincus and Thomas H. Lee Partners .

Private equity firms often invest in weak banks, boost their capital levels and then use the banks as a base to consolidate other lenders in the region.

Shares of Sterling Financial were trading at $15.15 in the morning trade on Nasdaq on Monday.

Posted on: http://www.pehub.com/125165/sterling-financial-to-buy-first-independent-bank/

Stan Taylor, CSAM
360-695-4688, ext 112
staylor@mrvancouver.com

The Door Is Opening and People Are Leaving

2011-07-06T08:32:00.000-07:00

Posted By Kevin Wheeler On July 6, 2011 @ 5:22 am In Advice and How-To's

There is going to be an exodus of workers soon from businesses all across the U.S. It seems that for all the work recruiters do at the front end, organizations are undoing it at the backend. Frustrated employees are seeking new opportunities in record numbers, but if you are prepared, your talent shortages may be over.

Earlier this week, Mercer released its What’s Working survey that found that “one in two U.S. employees [are] looking to leave or [have] checked out on the job.” Other surveys support these findings, including ones by Right Management.

Is this simply the grass-is-greener syndrome, or is there something else going on? Even though there are plenty of jobs for certain types of people — Amazon is adding 5,000 people, and McDonald’s, Google, Facebook, Microsoft, and Apple are just a few others that have announced fairly large hiring plans — we are not actually out of this recession, and changing jobs is a risky business.

While money and benefits are not the primary reason people leave their employers in normal times, these times are very different.

This recession has lingered longer than most and is impacting a generation of workers who have not suffered much from recessions in the past. Their tolerance is different, and so are their expectations.

Today I think there are four primary drivers of these rather frightening statistics. And these same reasons will eventually drive away the new people you recruit as well, unless you are candid and realistic right up front with the candidates.

The first driver is actually pay this time. For many employees it has been a long time since they have gotten much in the way of a pay increase. The recession is often used as a reason for not granting reasonable increases, and managers have been more focused on performance — of lack of performance as a way to hold down these increases.

Yet, employees see their organizations making good profits and in some cases even record profits. Corporate coffers are flush with cash, yet this has not translated into significant pay increases. At the same time, option grants have shrunk due to changes in how they are taxed, giving some employees even less reason to stay.

Employees perceive a unfairness in how they are paid compared to how firms are profiting.

Second, and not completely separated from pay, is the amount of work that is being asked of employees. Many people I speak with are really doing what two or more would have done prior to this recession. Managers have asked for more and gotten it as employees fear there are few other jobs.

Yet the perception about jobs is changing, and many are starting to make a move if for no other reason than to lessen their workload or find a more flexible employer.

A third growing issue is the attitude younger workers, especially those in the Gen Y category, have about work. They feel their personal freedom is threatened by restrictive social media polices. And they are unhappy with the unwillingness of many firms to allow flexible working hours. They are also inclined to want open, authentic cultures and this recession has caused firms to tighten up communications, keep more secrets, and allow much less open discussion. This is all negative to the younger folks who will seek out more open and flexible environments.

A fourth element is lack of development. Many surveys have pointed out that Gen Y in particular, but all of us at some time, want to take on new responsibilities and learn new skills. During the recession organizations cut back on training and limited development opportunities. In some cases when development was available no one could take advantage oif it because of high-demand work requirements that left no time available. This has resulted in frustrated and bored employees who are looking for a change.

In reality, it’s not hard to see why these surveys are showing a potentially devastating amount of turnover about to happen.

I also realize that while there may not be a lot you can do about these things; there are always creative tactics that can help. Here are some thoughts.

First of all, make internal mobility the most important thing you focus on. Helping employees find new positions may be the best and most direct way you can influence them to stay. Yet, most organizations either erect numerous bureaucratic hurdles that make moving around tough, or they simply do not offer any simple way for an employee to learn about possibilities.

The intranet or some other internal website should be designed so that employees can learn about open positions and can apply for those positions. Work with HR to take down barriers and make it as easy to move between positions as it is to move outside the firm. This probably means that many current practices will have to change. Organizations with low turnover generally follow several rules that guide the internal application and transfer process.

1.Employees should be able to interview for new positions without permission from anyone.

2.They should not have to complete any sort of application form, and resumes should be very simple, if used at all.

3.They should be able to leave their current position within a maximum of two weeks after accepting another offer — even if their old position has not been filled.

4.Salaries offered should be similar to those an external hire would receive.

Second, help hiring managers reposition jobs to match the available skills rather than seek out only those who are perfect fits.

Don’t go for the exact match. Encourage hiring managers to be more open to giving internal candidates an opportunity. Exact matching is expensive and pays little in return. No one is good enough at predicting what the exact set of skills are going to be for every project and job. Hiring internal people with basic qualifications is often the better decision as these people not only bring enthusiasm and freshness, but also fit the culture. Recruiters need to encourage managers to experiment and realize that most of us are not doing the exact job we were trained to do or even the work our degrees prepared us for.

And, finally, be open with potential candidates about what’s going on in the company.

When you set realistic expectations up front, you lessen the disillusionment that will come after the new hire starts. Strive for authenticity. Encourage them to talk to employees who are happy and engaged. Make sure candidates are good culture fits and that they are fully informed about the work they are going to be expected to do.

Working with the hiring managers is key to success, as talent shortages are partly caused by lack of imagination. Jobs can be tailored to fit candidates, job descriptions can be changed, and managers can be flexible. It takes negotiating with them and providing them information about what’s going on. Turnover may happen, but you may be able to lessen its impact or bring in new people better fitted to your culture.

tags: retention

Analysis of the BLS Employment Situation Report - Private Industry adds 83,000 Jobs.

2011-06-13T08:42:00.000-07:00

MRINetwork Analysis of the BLS Employment Situation Report

May 2011 Employment

The full report can be seen here: http://www.bls.gov/news.release/empsit.htm.

This morning, the Labor Department reported U.S. unemployment rose from 9 to 9.1 percent in May while adding 54,000 non-farm jobs. Local governments shed 28,000 positions during the month while private industry added 83,000. The federal and state governments combined to cut just 1,000 positions during the month.
Professional and technical services added the lion’s share of positions, tacking on 40,000 new jobs — most notably in accounting and bookkeeping (+17,800) and computer systems design and related services (+8,200). Temporary help services were mostly unchanged. The remaining job gains mostly came from health care (+27,200) which has added jobs throughout the recession. Other sectors experienced very mild growth or losses, most so small as to be not statistically significant.

The management, professional, and related occupations unemployment rate fell from 4.5 to 4.4 percent year over year while the four-year degree unemployment rate was down from 4.4 to 4.3 percent over the same period.
These numbers are an aberration from what has been seen since the beginning of the year, yet they seem to be supported by other recent readings. The Purchasing Managers’ Index fell from 60.4 to 53.5 percent in May and the ADP Employment Report saw job growth fall from 177,000 in April to 38,000 in May. These other reports make it impossible to dismiss the Labor Department’s figures. However, there is reason to think May was an exception, and not a change in momentum.
Some economists point to the supply chain disruptions resulting from March’s Japanese earthquake and tsunami hitting U.S. manufacturing in May. The Manufacturing sector lost 5,000 jobs during the month—not a significant decrease from the 11.7 million person manufacturing workforce—its first loss in six months. After today’s numbers, the U.S. remains on track to add between 1.5 and 2 million jobs during the year in total. With the disaster in Japan, continued skittishness in Europe over sovereign debts and heated unrest in the Middle East, May’s modest growth seems more an indicator of the resilience, rather than the fragility, of the U.S. economy.

Bank CFOs: Pink Slips At The Ready If Revenues Come Up Short

2011-06-13T08:34:00.000-07:00

By Matthew Monks, American Banker
June 9, 2011
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In banking, the phrase "expense reduction" is often a euphemism for "layoffs."

The chief financial officers of Comerica Inc. and Huntington Bancshares Inc. avoided the L-word when speaking to investors on Wednesday but said their institutions are prepared to cut workers if revenue stays weak or the economy gets worse.

Both are hoping to avoid layoffs by attracting new customers: Comerica, of Dallas, is in the midst of buying a rival Texas bank. Huntington, of Columbus, Ohio, is keeping branches open longer and spending heavily to advertise its no-new-fees approach to banking.

But mounting pressure to cut costs means both are ready to send out pink slips if growth does not materialize.

Roughly "60% of expenses are people," Beth Acton, the chief financial officer of the $55 billion-asset Comerica, said at a New York investor conference sponsored by Deutsche Bank. "That's the key driver of what you can do to really impact the bottom line."

Donald Kimble, the CFO of the $53 billion-asset Huntington, said new employees represent a substantial proportion of the "incremental investments" that it has flexibility in "adjusting." Payroll costs — like its advertising budget — can be cut swiftly, he said.

"The investments we have been making for the most part have been in variable costs, whether it's traditional marketing dollars or head count," Kimble said. "I think those adjustments can be made within a quarter. So I think it is something that can be managed very efficiently and [be] very timely."

Comerica and Huntington are in similar positions in terms of spending. They are among a class of banks committed to investing to promote expansion, even if in the short term it causes expenses to trend higher than many investors would like.

Last quarter, Comerica was spending about 69 cents for every dollar of revenue; Huntington, about 65 cents per dollar of revenue. Those expense-per-dollar ratios are high compared with other large and midsize banks. Wells Fargo & Co.'s, for instance, is about 63 cents.

Investors pay close attention to expense-to-revenue ratios because they indicate how efficient an institution is at making money. Banks can improve the figure by cutting costs, increasing revenue or both.

"What happens in many large companies, particularly financial services companies, when they just focus on cost … it makes the relationship with the customer worse," said Jim Rowe, investor relations director at Wells Fargo. "It affects their ability to raise revenue, and we're not going to do that," he said.

Wells recently launched a cost-cutting initiative but has not shared many details.

The company did not mention layoffs on Wednesday, though it said last month that it was in the midst of letting go of several thousand mortgage specialists amid the housing downturn. In addition, the $400 million to $500 million Wells is spending per quarter to integrate the former Wachovia Corp. should decline by the first quarter of next year, Rowe said. Wells had 270,200 full- and part-time workers at the end of last quarter, up about 2,800 from a year earlier.

Comerica sees cost-saving and revenue-generating opportunities in its pending acquisition of Sterling Bancshares Inc. of Houston, Acton said.

It will consolidate some back-office functions and gain access to more clients for Comerica's treasury and wealth advisory services, she said.

Comerica's biggest tool for cutting costs has been layoffs, Acton said. A 17% head count reduction in the three years through 2010 enabled the bank to hold expenses steady despite increases in merit pay and rising regulatory costs, she said.

It had 8,955 full-time employees as of last quarter, 260 fewer than a year earlier.

Comerica has found it can earn just as much revenue with fewer people and is not planning to hire as the economy rebounds. Instead, a double-dip could lead to more staff cuts, Acton said.

Huntington had about 11,300 employees at the end of last quarter. That is about 641 more than a year earlier.

Actual employment numbers not that bad

2011-06-03T16:35:00.000-07:00

Outside the Box

June 3, 2011, 2:48 p.m. EDT

Actual employment numbers not that bad
Commentary: Just take a look at the not-seasonally-adjusted data
By Lee Adler

QUEBEC (MarketWatch) — The market was disappointed with today’s employment data. But actual total employment, as opposed to the widely reported seasonally adjusted numbers, was nowhere near the catastrophe that the market’s reaction made it seem. The problem was that economists’ expectations were misguided, partly as a result of their focus on seasonally adjusted fictitious data, which showed a gain of 54,000 for May.

Actual (not-seasonally-adjusted) payrolls were up 682,000, according to the BLS establishment survey. That’s not gangbusters in relation to other years, but it’s not that bad. Since 2001, the average gain in payrolls in May has been 764,000. 2010 had a very strong gain of 1.10 million. That number was an outlier. The best year before that was 2007 at 942,000.

Today’s reported numbers were worse than non-recession years, however. Only 2008 at 570,000 and 2009 at 269,000 were worse.

In addition to the establishment survey, the BLS also surveys households. The total number of employed persons (actual, not seasonally adjusted) according to the BLS household survey rose by 367,000. The average gain in total employed in May from 2001 to 2010 was 344,000. From this perspective, today’s number was a little better than average.

Employment growth had been slowing early this year. The histrionics surrounding today’s announcement are an artifact of the fact that many economists had assumed without good reason that the numbers would be much better. However, the unadjusted actual numbers in the household survey had shown a decline in growth momentum since the end of last year, and today’s data simply continues that trend. The slowing employment growth momentum this year has been concurrent with the decline in stimulus spending that spurred the employment gains in the first place. In that context, slowing employment growth should have surprised no one.

Employment usually peaks in July of each year. Total employment usually peaks in July. Therefore, we should find out just how weak the employment trend is over the next couple of months. The question is whether last year’s peak employment numbers will be broken, and if so, by how much. The first few months of seasonal decline in the second half could show a shift to negative momentum if the usual second half employment declines are greater than last year’s.

The population has been growing faster than employment. Even if total employment grows slightly year over year, if the growth is less than population growth, the employment-to-population ratio will continue to fall. Even though the economy might grow in nominal terms life will get harder for a growing number of Americans.

But to Wall Street and the markets, that matters not.

Lee Adler is the publisher of The Wall Street Examiner.

see full article: http://www.marketwatch.com/story/actual-employment-numbers-not-that-bad-2011-06-03?link=MW_latest_news

April 2011 Employment summary

2011-05-06T11:14:00.000-07:00

MRINetwork Analysis of the BLS Employment Situation Report

April 2011 Employment

The full report can be seen here: http://www.bls.gov/news.release/empsit.htm.

This morning, the Labor Department reported that 244,000 jobs were created in April. It was the single largest monthly gain in more than a year and the third consecutive month of job growth in excess of 200,000. The U.S. unemployment rate rose from 8.8 to 9 percent, a result of increased participation in the job market. This increase is likely a sign of improved employee confidence that is often seen on the tail end of employment downturns. While the total number of people unemployed during the month increased by 205,000, that growth came from job market reentrants and those who left jobs voluntarily. The total number of people unemployed because of job loss actually decreased by 65,000.

Job growth in recent months has come from highly skilled positions, with employment increases occurring almost entirely among those with four-year college degrees. April, however, saw a sudden reversal in this trend as growth showed a broader base. In fact, the largest increase in employment in April was among those with nothing more than a high school diploma.
This is understandable considering the growth of positions in department stores, bars and restaurants and amusement, gambling and recreational facilities –– all businesses known for having workers with less advanced education. In essence, job growth started with highly skilled and educated workers late last year. Now, the nearly 700,000 college-degreed individuals who have started jobs since January have begun to spend money at these establishments, sparking this hiring trend.
In aggregate, though, those with four-year degrees continued to experience an unemployment rate nearly half that of those without any college experience. Similarly, the management, professional, and related occupation unemployment rate fell from 4.5 percent a year ago to 4.0 percent in April. Additionally, employment at temporary staffing agencies remained mostly unchanged during the month, indicating that job growth was entirely made up of permanent positions.
The median duration of unemployment ticked down a full week to 20.7 weeks in April. If employment growth continues among industries requiring less skilled labor, those positions are more likely to be filled by people with longer durations of unemployment. While many facets of the labor market have seen gradual improvement, the length of unemployment and the size of the long-term unemployed population have only just begun to budge. Improvements in these two metrics may be the final trailing indicators of the labor market’s recovery.

Stan Taylor, CSAM, 877-695-4688, staylor@mrvancouver.com.

Analysis of the BLS Employment Situation Report

2011-04-11T07:36:00.000-07:00

MRINetwork Analysis of the BLS Employment Situation Report

March 2011 Employment

The full report can be seen here: http://www.bls.gov/news.release/empsit.htm.

Today, the Labor Department estimated a total of 216,000 jobs were added to the U.S. economy during the month of March, beating economists’ estimates of 185,000. The unemployment rate ticked down from 8.9 percent the previous month to 8.8 percent. Job growth continued to be broad-based, with positions being added across most major industry groups. Public sector employment, however, declined by 16,000, led by job losses at the city and county government levels.
March’s employment report showed an increased number of labor market re-entrants over recent months, especially among those with higher levels of education. While there was an increase of 255,000 jobs among those holding a Bachelor’s or higher, there was also an increase in the size of that workforce (employed and unemployed, but looking) of 328,000 people. To date, however, the pace of people re-entering the job market has not been large enough to prevent the unemployment rate from continuing to fall.

While the vast majority of jobs being added are now permanent—in contrast to 2010—employers continue to add contract positions as well. March saw staffing firms add 28,800 temporary positions during the month for a total of 2.3 million, or 2.1 percent of the total U.S. workforce.
The management, professional, and related occupation unemployment rate fell year-over-year from 4.7 to 4.3 percent in March. While still at a historically high level, its rate of decline to a more typical level is accelerating. In December, it was flat year-over-year, but by January, it was down 0.3 percent and by February, it was down 0.4 percent.
Total labor market growth seems to be stabilizing at a pace that will cause the unemployment rate to decline. In fact, the current level of private sector job growth, over 200,000 per month, is above average for most non-recession periods. Between 2004 and 2007, the U.S. private sector added, on average, just 169,000 jobs per month.

Brought to you each month by:

Management Recruiters of Vancouver, LLC

360-695-4688 or 877-695-4688

Stan Taylor, CSAM

staylor@mrvancouver.com

216,000 Jobs aded in March!

2011-04-01T11:11:00.001-07:00

Breaking News Alert

The New York Times

Fri, April 01, 2011 -- 8:37 AM ET

-----

U.S. Added 216,000 Jobs in March; Unemployment Rate at 8.8%

The United States economy added 216,000 jobs in March, as the nation continues a modest recovery.

The unemployment rate last month was 8.8 percent, down slightly from 8.9 percent in February. Overall, the number of jobs created last month was greater than the forecast of 193,000.

Friday's number follows the decline in the weekly unemployment claims, which have fallen steadily, from the mid-400,000s to the neighborhood of 385,000. In almost any other context, the latter would be a grim number indeed. But in this slowest and most sluggish of recoveries, it is a sign of somewhat fewer layoffs.

Still, threats to a more robust recovery remain, including a surge in energy and food prices, with the possibility of disruptions in oil production in the Middle East continuing to weigh on the financial markets. State and local governments have also been shedding jobs as they grapple with budget woes.

Read More:

http://www.nytimes.com?emc=na

MRINetwork Analysis of the BLS Employment Situation Report

2011-03-04T15:17:00.000-08:00

This is what I find most exciting as this is the category Professinal Bankers fall into: The management, professional and related occupation unemployment rate fell from 4.8 to 4.4 percent year-over-year.

If you ever needed a reason why it is critical that your children and grandchildren get a four year degree, these economic statistics provide powerful validation!


MRINetwork Analysis of the BLS Employment Situation Report *February 2011 Employment* The full report can be seen here: http://www.bls.gov/news.release/empsit.htm. This morning, the Labor Department reported that the U.S. unemployment rate fell from 9.0 to 8.9 percent in February. The private sector added 222,000 jobs, while the state and local level governments shed 30,000 positions. The gains were in line with economists’ estimates, and combined with positive revisions to the data of previous months, mark a sizable improvement in the rate of recovery to the labor market. This improvement is being strongly driven by those with four-year degrees, a segment of the population in which employment rose by 266,000 positions in February after having added 227,000 in January, a month where there were 63,000 net job gains. The management, professional and related occupation unemployment rate fell from 4.8 to 4.4 percent year-over-year. The unemployment rate for construction and extraction related occupations—traditionally high in the winter—fell from 26.5 percent from a year ago to 22 percent this February. The sales and related occupations unemployment rate also fell from 10.2 to 9.0 percent year-over-year By industry, job growth was well distributed with gains in several industries said to be harbingers of wider economic growth, such as construction, 33,000, durable goods manufacturing, 30,000, transportation and warehousing, 22,000, and accommodations and food service, 15,500. Health care also continued to grow, adding 34,000 jobs during the month and nearly a quarter million jobs in the last year. A sustained growth rate of approximately 200,000 positions per month is what the U.S. needs to make up for population gains to see a gradual, fundamental reduction in the unemployment rate. Revisions show that in three of the last five months we have very nearly approached that level and there is every reason to expect that such growth will continue in the near term. Job growth, however, is only taking place among workers with some college and mostly those with four-year degrees and higher. For workers without any higher education, the employment picture isn’t changing as fast. Among the long-term unemployed, this barrier to entry will continue to be an issue. The average length of unemployment reached 37.1 weeks in February, an increase of 7.3 weeks from a year ago.
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MRINetwork Analysis of the BLS Employment Situation Report

February 2011 Employment

The full report can be seen here: http://www.bls.gov/news.release/empsit.htm.
This morning, the Labor Department reported that the U.S. unemployment rate fell from 9.0 to 8.9 percent in February. The private sector added 222,000 jobs, while the state and local level governments shed 30,000 positions. The gains were in line with economists’ estimates, and combined with positive revisions to the data of previous months, mark a sizable improvement in the rate of recovery to the labor market. This improvement is being strongly driven by those with four-year degrees, a segment of the population in which employment rose by 266,000 positions in February after having added 227,000 in January, a month where there were 63,000 net job gains.

The management, professional and related occupation unemployment rate fell from 4.8 to 4.4 percent year-over-year. The unemployment rate for construction and extraction related occupations—traditionally high in the winter—fell from 26.5 percent from a year ago to 22 percent this February. The sales and related occupations unemployment rate also fell from 10.2 to 9.0 percent year-over-year

By industry, job growth was well distributed with gains in several industries said to be harbingers of wider economic growth, such as construction, 33,000, durable goods manufacturing, 30,000, transportation and warehousing, 22,000, and accommodations and food service, 15,500. Health care also continued to grow, adding 34,000 jobs during the month and nearly a quarter million jobs in the last year.
A sustained growth rate of approximately 200,000 positions per month is what the U.S. needs to make up for population gains to see a gradual, fundamental reduction in the unemployment rate. Revisions show that in three of the last five months we have very nearly approached that level and there is every reason to expect that such growth will continue in the near term. Job growth, however, is only taking place among workers with some college and mostly those with four-year degrees and higher. For workers without any higher education, the employment picture isn’t changing as fast. Among the long-term unemployed, this barrier to entry will continue to be an issue. The average length of unemployment reached 37.1 weeks in February, an increase of 7.3 weeks from a year ago.

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Dodd-Frank's diversity requirement raises brows

2010-11-30T07:54:00.000-08:00

My question on this portion of the financial reform bill is how is it going to affect Enterprise Risk Management going forward. Do you have a robust Applicant tracking system? If not let's talk.

*********************

November 27, 2010 — 10:24am ET

By Jim Kim

One little discussed aspect of the Dodd-Frank reform law is Section 342, which requires the creation of 20 Offices of Minority and Women Inclusion at regulatory agencies, including the SEC, the FDIC, the OCC, the Treasury, all Federal Reserve banks and the new Consumer Financial Protection Bureau.

"Once established, the offices are charged with monitoring the diversity at the agencies as well as at any contractors or subcontractors, including law firms, accounting firms and investment banks," notes the New York Times. "These contracts, totaling in the billions a year, are typically awarded to private firms for services like debt issuances and sales of government assets, as well as more general advisory services."

Sign up for our FREE newsletter for more news like this sent to your inbox!

The goal, of course, is to provide some leverage for correcting racial and gender imbalances in certain industries. Specifically, the bill holds that if an agency's compliance director concludes that a contractor has not made "a good faith effort to include minorities and women in its work force," contracts could be canceled. The clause also requires agencies to recruit at historically black universities and women's colleges, sponsor job fairs in urban areas and file yearly reports.

This has the potential to arouse some political passions. Some have criticized the Section for its redundancy with other nondiscrimination laws. Others think it is an attempt by the government to impose quotas on banks, law firms and all government contractors, of which there are many. What do you think?

Congratulations to another PNW bank on it's successful recapitalization!

2010-10-27T15:27:00.001-07:00

Congratulations to AmericanWest Bank on its successful recapitalization!
Pat and his team have done a remarkable job!

read the full article:
http://tinyurl.com/28ksub2

Sincerely,
Stan Taylor, CSAM

Are you making these motivation mistakes?

2010-10-25T07:48:00.000-07:00

By the editors of Briefings Media Group

It may be the oldest joke in the workplace: “The beatings will continue until morale improves”

Unfortunately, it’s no laughing matter. Managers with good intentions make bad mistakes as they attempt to boost morale. Ultimately, those actions have the opposite effect: They destroy morale.

Here are some of the most common misguided morale-building tactics:

• Throwing a party. Most people enjoy a good time, but unless you explain the reason for throwing the celebration, the morale boost will be short-lived. If morale is really low, your employees are unlikely to mingle and build bonds. Instead, they will divide into cliques and whisper among themselves about why you are acting out of character.

Better: Any time you treat employees, tie the reward to a tangible achievement. When employees see that meeting Goal A results in a celebration, they understand your expectations for them.

• Giving “fun” awards. On a high-performing, high-morale team, people appreciate it when you hand out rolls of LifeSavers candies to people who saved the day or give Three Musketeer bars to teams that worked together to go above and beyond. When staffers enjoy success and camaraderie, those small gestures are charming.

Warning: When morale is low, employees find small gestures like that trite, or worse, insulting. People who feel disgruntled or underappreciated won’t be charmed by such rewards.

Better: Show that you are a leader who notices and appreciates the small things. Thank employees when you see them doing something well or putting forth extra effort. Praise them in private and in front of others. And create opportunities for employees to share their appreciation with their peers. It may seem like baby steps, but each “Thank you” marks progress toward a high-morale workplace.

• Offering monetary rewards for peak performance. When you hold contests where the winning employee earns a bonus check, you probably think you are motivating staffers to excel. But if your employees are burned out and cynical, they will give up on the rewards almost as soon as you announce them. They will think: “It’s too hard. Everyone knows that Pat’s the best salesperson on the team, so why should I work harder when I know I won’t win?”

Better: Ensure that everyone has a chance to win any contests you hold. If you reward only the top salesperson, for example, few people will feel they have a chance to win. If you set up individual—attainable—targets, everyone is more likely to participate. For example, instead of rewarding people who close 15 sales in a month, reward all employees who increase their monthly sales revenue by 10%.

Employee recognition is a great and inexpensive way to boost productivity, raise morale and improve your bottom line. You can find more strategies for doing that here.

7 Ways Your Resume Dates You

2010-10-21T09:51:00.000-07:00

Porcshe Moran
Monday, September 27, 2010

The turbulent economy has forced many people to go back into the job market for the first time in years. If there is a thick layer of dust on your resume it might be beneficial to learn the new rules of resume writing and presentation before you start submitting applications. Even the most qualified applicant might not get called in for an interview if his resume creates the impression that he is out of touch with the current business environment. Do not assume that an impressive cover letter can serve as a substitute for a poorly written resume.

1. References Upon Request

There is no need to waste valuable resume space on this outdated section. Employers assume that you will provide references if asked. Instead, keep a separate page with the names and contact information of your references ready to supply to the employer once you have advanced in the interview process.

2. One Resume Fits All

While it is smart to keep a master resume on file, you need to customize it to fit each job for which you apply. Job-seekers who take the time to tailor their resume to the employer's needs will stand out from the pack. Eliminate the details that don't apply to the position and emphasize the ones that make you look the most qualified. It might take a little extra time to apply using this technique, but it will be worth it when your interview offers increase.

3. Objective Statement

The professional summary or profile has replaced the objective statement. Employers are focused on what candidates can do for them, not what the business can do for the candidate. You will sell yourself better with a concise bulleted list of the qualifications and accomplishments that make you a match for the position.

4. Single-Page Resume

One of the most touted resume rules is that the document must be one page. Many people will go to extremes to follow this command, resulting in tiny, unreadable font sizes just to avoid having a resume that extends onto the second page.

Unless you are a newcomer to the job market, it is entirely possible that you'll need more than a page to adequately showcase your skills and qualifications. If you have enough job experience that fits the position, it is acceptable to extend your resume length to two pages. Keep your resume succinct and relevant, but don't go under a 10-pt. font size.

5. Lack of Social Networking

Websites such as Facebook and Twitter might be considered distractions in the workplace, but they can be an asset on a resume. Employers want to know that applicants are up-to-date with current technology and communication trends. Links to a professional online portfolio, blog or LinkedIn page should be included in your resume header. There is a good chance that employers will do an internet search to find out more about potential employees, so make sure that all of your social networking profiles project a professional image.

6. Too Much Information

It is not necessary to give your life story on a resume. In fact, providing an employer with too much information can be detrimental to your chances of employment. Delete information about where and when you graduated high school. Ditch irrelevant jobs from 15 years ago. Although it was standard practice in some industries years ago, it is now inappropriate to include personal details in a resume such as information about your hobbies, religion, age and family status. Not only does it look unprofessional, but that information could be used to discriminate against you.

An employer will ask if they want to know why you left previous positions, so don't mention it on your resume. The rule of thumb is to pare down your resume to only include things that show why you are the perfect fit for the specific position for which you are applying.

7. Outdated Terminology and Skills

Skills in obsolete computer software and systems should be removed from your resume. Technical experience is critical in nearly every industry and employers often use technology keywords to find resumes in electronic databases. Listing basic computer skills such as word processing and using an internet browser is not recommended because employers will assume that you have those proficiencies. The job description is the best guide to determine the terminology and technology skills that should show up on your resume.

The Bottom Line

In a fast-paced and competitive job market the parameters for writing a resume continue to change. Resumes that do not reflect knowledge of the current needs in the workplace and the new rules of how to present yourself to an employer will likely end up in the trash.

This article is part of a series related to being Financially Fit

6 Things You Should Never Reveal on Facebook

2010-09-15T09:00:00.000-07:00

by Kathy Kristof

Tuesday, September 14, 2010

provided by
CBS moneywatch.com

The whole social networking phenomenon has millions of Americans sharing their photos, favorite songs and details about their class reunions on Facebook, MySpace, Twitter and dozens of similar sites. But there are a handful of personal details that you should never say if you don't want criminals — cyber or otherwise — to rob you blind, according to Beth Givens, executive director of the Privacy Rights Clearinghouse.

The folks at Insure.com also say that ill-advised Facebook postings increasingly can get your insurance cancelled or cause you to pay dramatically more for everything from auto to life insurance coverage. By now almost everybody knows that those drunken party photos could cost you a job, too.

[See 7 Things to Stop Doing Now on Facebook]

You can certainly enjoy networking and sharing photos, but you should know that sharing some information puts you at risk. What should you never say on Facebook, Twitter or any other social networking site?

Your Birth Date and Place

Sure, you can say what day you were born, but if you provide the year and where you were born too, you've just given identity thieves a key to stealing your financial life, said Givens. A study done by Carnegie Mellon showed that a date and place of birth could be used to predict most — and sometimes all — of the numbers in your Social Security number, she said.

Vacation Plans

There may be a better way to say "Rob me, please" than posting something along the lines of: "Count-down to Maui! Two days and Ritz Carlton, here we come!" on Twitter. But it's hard to think of one. Post the photos on Facebook when you return, if you like. But don't invite criminals in by telling them specifically when you'll be gone.

[See Burglars Picked Houses Based on Facebook Updates]

Home Address

Do I have to elaborate? A study recently released by the Ponemon Institute found that users of Social Media sites were at greater risk of physical and identity theft because of the information they were sharing. Some 40% listed their home address on the sites; 65% didn't even attempt to block out strangers with privacy settings. And 60% said they weren't confident that their "friends" were really just people they know.

Confessionals

You may hate your job; lie on your taxes; or be a recreational user of illicit drugs, but this is no place to confess. Employers commonly peruse social networking sites to determine who to hire — and, sometimes, who to fire. Need proof? In just the past few weeks, an emergency dispatcher was fired in Wisconsin for revealing drug use; a waitress got canned for complaining about customers and the Pittsburgh Pirate's mascot was dumped for bashing the team on Facebook. One study done last year estimated that 8% of companies fired someone for "misuse" of social media.

Password Clues

If you've got online accounts, you've probably answered a dozen different security questions, telling your bank or brokerage firm your Mom's maiden name; the church you were married in; or the name of your favorite song. Got that same stuff on the information page of your Facebook profile? You're giving crooks an easy way to guess your passwords.

Risky Behaviors

You take your classic Camaro out for street racing, soar above the hills in a hang glider, or smoke like a chimney? Insurers are increasingly turning to the web to figure out whether their applicants and customers are putting their lives or property at risk, according to Insure.com. So far, there's no efficient way to collect the data, so cancellations and rate hikes are rare. But the technology is fast evolving, according to a paper written by Celent, a financial services research and consulting firm.

___

FIRST FRIDAY PREVIEW - September 2010

2010-09-03T10:45:00.000-07:00

September 2010 \| Volume IV \| Issue 9

MANAGEMENT RECRUITERS OF VANCOUVER
UNITED STATES It’s That Quantity/Quality Thing Again With the sheer size of the U.S. labor market, there really isn’t an easy way to talk about it other than by the numbers. Four-hundred and seventy-three thousand unemployment claims last week, 14.6 million people unemployed in the United States, 46 million workers with bachelor’s degrees in the country. The use of these figures makes workers sound like commodities, easily comparable and easily interchangeable pieces. Nearly one in ten people who want to work don’t have a job. It would seem that hiring a great candidate would take no more than putting up a help wanted shingle for an afternoon. You might even believe that, unless you’ve tried to hire someone in the last year. “Regardless of the state of the economy, there is nothing easy about identifying great candidates,” says Tony McKinnon, president of MRINetwork. “Trying to find that impact player who you begin every search looking for, is like trying to find a popular toy on Christmas Eve. You can go to a big toy store with a thousand different options, but that doesn’t make your search any easier.” The Bureau of Labor Statistics obviously can’t give figures about the quality of workers. They can, however, report on one of the most basic indicators of quality: education. Workers who have completed a bachelor’s degree have an unemployment rate of 4.5 percent, less than half the national average and down .3 percent from just three months ago. “Employers look at how many applicants there are for every job and assume they’ll be able to have their pick of quality people,” says Mickey Kampsen, president of Management Recruiters of Charlottesville. “What once would have been interviews of a few highly qualified candidates can turn into cattle calls as employers cast wider nets. With so many candidates, more stages are added to the interview process. People who truly are the top candidates aren’t given the personalised attention that would encourage them to take a position. Employers don’t always know how to tango.” With a 2.2 percent job-opening rate, there are currently nearly four unemployed people for every position. In 2006, when the	Recent MRINetwork® Analysis “It’s almost like social media has replaced the white pages,” Ms. Halverson said. “Recruiters don’t even know how to find you if you don’t have a presence online. It’s nonnegotiable — you have to have a profile on a social networking site.” - Nancy Halverson MRINetwork SVP of Learning and Talent Development As quoted in the New York Times, August 25, 2010 Notable International Events • Despite austerity measures in the United Kingdom, GDP grew at 1.2 percent in the second quarter, beating estimates of 1.1 percent. Expectations are for growth to reach 2.2 percent in 2011. • The Chilean economy mostly sidestepped the depths of the recession by the government releasing capital reserves to prop up its banking system. After a devastating earthquake in February, GDP growth is on track to exceed 5 percent in 2010. • After contracting by 1.8 percent in 2009, South Africa’s economy is on track to grow by 2.9 percent in 2010. unemployment rate was 4.4 percent, the job opening rate was 3.3 percent, almost a one to one ratio. “The truth is that the top candidate you want coming out of a recession is the person who has been battle tested, so by definition, these candidates are usually employed, and they are elusive,” notes McKinnon. “They are often risking the job they already have just by talking to you, and if they don’t feel like they are being personally sought out, their motivation to participate can evaporate and the candidates you are left with aren’t the best you could have had.” Employee confidence in the job market continues to teeter with shifting news. The recent bounce back of the quit rate from 1.3 to 1.5 percent seems to be remaining stable, though well below its rate from a few years ago. After a .1 percent fall in consumer spending in June helped fuel talk of potential deflation, spending rose .4 percent in July, beating expectations. “Estimates now say unemployment won’t significantly decrease until mid-2011, but before that happens employers are obviously going to have to ramp-up hiring,” says McKinnon. “The attitude employers take when approaching candidates after such a long downturn is going to be as important as any other factor in the recruiting cycle.”
UNITED ARAB EMIRATES Country Proves Both Stability and Agility in Maneuvering Global Financial Crisis
The revelation that Dubai, one of the United Arab Emirates’ flashiest states, was near default on its debt late last year was a surprise to the world and signaled a new phase of the global economic crisis. Abu Dhabi, its wealthier cousin state, had to step in to help Dubai remain solvent. While the terms under which Abu Dhabi received its aid weren’t made public—and rumors have suggested the terms weren’t very favorable—the move has been enough to push the issue off the front page. “It happened. But in this part of the world, people still want to do business in Dubai and the UAE. There might be rumors about the debt crisis, but that doesn’t really affect the viability of doing business in the region,” says Praveen Manghnani, managing director of MRI Worldwide United Arab Emirates. Manghnani says that Dubai has become a clearinghouse for talent in the Arabian Peninsula. Employers from neighboring Saudi Arabia will often find talent in Dubai, bring the employees to Saudi Arabia for a job and as the job wraps up, they return to Dubai looking for their next assignment. Saudi Arabia itself is undergoing impressive population growth at a rate of over 2 percent per year fueled by a fertility rate almost twice that of Western European countries.	By comparison, in 2008 the world grew by just 1.17 percent and the United States by .92 percent. As the UAE continues to establish itself as the business hubof the Middle East, the prevalence of rumors over transparency has become of concern. The UAE Minister of Economy, Sultan Bin Saeed Al Mansouri, recently laid out the beginnings of a rewrite—and often Westernization—of many of the nation’s business laws including arbitration rules. Such rules, the UAE hopes, will help make the country more attractive not just to foreign companies but to entrepreneurs and potential investors. In addition to businesses though, the UAE is working to attract more educational opportunities. Beginning this fall, a class of 150 hand-selected students from around the world will be starting at the new NYU Abu Dhabi Institute. But as the school takes pains to point out, it is a university unto itself, not just a satellite campus. “The quality of talent on the peninsula for both local workers and ex-pats remains phenomenal. Through the recession, employers have become more selective, yet the talent pool has risen to their expectations,” says Manghnani.
CALIFORNIA Taking The Steps Towards Stability
The story of the California economy has never been one of straight lines. California has perhaps had more booms than any other state in the country. There was the gold rush, the oil boom, a hi-tech boom first of hardware, then of dot-coms. And most recently what might be considered a boom-boom: the collision of so many booms that the price of real estate inflated even more than the rest of the country. And then it burst. “Late last year was maybe the darkest period that we had seen in California since I started recruiting here,” says Trent Overholt, president of Management Recruiters of Los Angeles-South Bay. “Both in terms of activity and just feeling.” Perhaps the most visible effect of the recession in California is a budget deficit nearing $20 billion and the cantankerous fight it has caused in Sacramento. Governor Schwarzenegger, a Republican, recently announced his intention to pay all 200,000 state workers minimum wage until a budget was passed. The State Treasurer, Bill Lockyer, a Democrat, resisted the Governor’s order claiming he didn’t have the authority, a position that has not yet been resolved in the courts. California’s budget issues, while triggered by the recession, can be almost as easily blamed on the taxpayer revolt of the late 1970s resulting in some of the tightest restrictions on a state’s ability to raise taxes in the country. Proposition 13, passed in 1978, prevented reassessing home values	for tax purposes unless a property is sold or remodeled. Adjustments for inflation were also capped at just 2 percent, well below increases in real estate market values. While the state had learned to live with the restrictions to some degree, when the real estate bubble popped the prices of property plummeted—in some areas as much as 50 percent—homeowners requested reassessments, locking in steeply lower property taxes. Institutional budget issues will give the recession long coattails in the government’s revenue, but in the broader economy, Californians seem to be becoming more optimistic. “The biggest demand we are seeing right now is for regional sales managers,” says Overholt. “That doesn’t necessarily mean that companies are seeing increased sales, but it does show that they have growing confidence. The fact that this confidence is becoming more widespread indicates it is not just wishful thinking.” The Federal Reserve’s Beige Book reported that retail trade and services have firmed over the last six weeks in its San Francisco district. Many businesses reported an uptick in requests for bids, even though those requests have not yet turned into sales. Hi-tech manufacturers saw outright growth in orders for semiconductors and other IT products. According to the Beige Book though, capacity utilization has remained low, meaning companies won’t need to make large capital expenditures to be able to start hiring.
Provided by MRINetwork http://www.mrvancouver.com/ \| Edited by Stan Taylor, CSAM staylor@mrvancouver.com
©2010 Management Recruiters International, Inc. An Equal Opportunity Employer. Each office is independently owned and operated.

SPECIAL ASSET MANAGER, SVP

2010-08-30T13:05:00.000-07:00

SPECIAL ASSET MANAGER & OFFICER:

· Are you a WORK OUT PRO?

· Do you have a PASSION for Special Assets?

· Do you have CRE and A&D experience/emphasis?

I am looking for true workout pro’s for my client, those with a true passion for this field of banking. Which I think we all know will retain its importance for a number of years to come.

SPECIAL ASSET MANAGER, SVP

· At least 10 yrs dedicated Special Assets.

· 5+ of those years in a senior leadership role.

· Compensation is strong for this position. This bank recognizes the importance and value of this key individual.

· For the right candidate there will be relocation assistance provided.

Special Assets Officer, VP.

· Minimum of 5 years dedicated Special Assets.

· Demonstrable leadership skills that would allow you to step up an lead a special assets team within a couple of years.

· Compensation BOE, competitive+

This client is a very professional bank, I must admit they are truly a class act. You will find that this is a team dedicated to success and exiting these challenging times a strong vibrant player in the PNW!

They are located in a scenic beautiful part of the Pacific North West.

Please contact:

Stan Taylor, CSAM

360-695-4688

staylor@mrvancouver.com

Staffing over the next 24 months!

2010-07-29T12:12:00.001-07:00

This article was sent to me today; I found it to be very impactful and supports what my colleagues and I have been seeing in the banking industry.

Timeliness of decisions is becoming more critical as demand continues to expand. I have already seen a few cases of "that is the "banker" I want for this position; that banker had already received an offer that had been accepted."

B. Executives Shift From Cost Control To Growth Strategies

More than half (54 percent) of large U.S. businesses that reduced staff in the past 12 months plan to rebuild their workforces to pre-recession levels within two years.

That data point, based on a recent Accenture survey, broadly reinforces ExecuNet data that for months has revealed more American companies are adding executives and fewer are cutting management positions. The survey found only 13 percent of executives said they plan to reduce their employee base over the next 12 months.

"The outlook is improving," said David Smith, managing director of the Accenture Talent and Organization Performance practice. "But as companies grow their staff, it is more critical than ever that they understand their skills needs and approach the expansion of their workforces strategically."

The survey confirmed that companies are shifting their focus away from cost control and returning to growth. The percentage of U.S. companies focused primarily on cost control will decrease from 41 percent in mid-2009 to 18 percent in 2011, according to the study. And the percentage of U.S. companies focused primarily on investment in growth-oriented activities, such as hiring, will increase from 24 percent today to 37 percent within the next 12 months.

However, as companies focus on growth, a shortage of high-quality skills may be cause for concern for many businesses. Fifteen percent of U.S. executives surveyed described the overall skill level of their workforces as 'industry-leading.'

"A lack of relevant skills may present a hurdle for companies as they position themselves for growth," Smith added. "Companies need to rethink how they equip employees with the skills required to be competitive today. They must also consider new strategies for hiring and developing untapped talent currently available in the market."

Making your Elevator Pitch Work

2010-06-30T08:05:00.000-07:00

I saw this today on Reuters and felt it had great value no matter what your product.
In our industry it could be "you"(looking for a position), your bank (looking for the top talent), loan or deposit product.

posted on line by: Entrepreneurial
Grow your own
Making your elevator pitch work

JUN 24, 2010 16:01 EDT

Stuck in an elevator with a well-known investor, but not sure how to make the most of your two minute ride?
Becky Reuber, a professor of strategic management at Toronto’s Rotman School of Management, has a few tips on how to craft an effective elevator pitch.
Here are Reuber’s four main points you need to get across to get investor attention:
1. What is your product/service?
Don’t launch into a technical explanation of how your product works, said Reuber. Keep it concise and to the point. For example: I make a tool that allows carpenters to hammer nails in hard to reach places.
2. Why are buyers going to buy it?
“The number one concern that people are going to be interested in is, do you have a compelling value proposition for a target market that you understand,” said Reuber.
She pointed out that you can tell someone your market is a billion people, but that alone means nothing. It’s far more valuable to be able to say: these three people purchased my product for this specific reason, and there is an entire market of people out there just like them who will want my product instead of the one offered by the competition.
3. Is it going to make money?
“You have to show that you can make (your product), or provide a service, for less money than you sell it for,” said Reuber, who noted the higher the margin, the better.
4. Do you have the patents, intellectual property or other means to fight off the competition?
“The first thing that’s gonna happen is you’re gonna have imitators come in and you’re gonna have existing competitors move into your space,” said Reuber.
In order to be successful, you need to express how you are going to stay in the lead in the marketplace. Reuber advised, “(launching a business) may be hard at the beginning, but it will only get harder once the competition starts entering.”
Lisa Gabriele, a senior producer with Canada’s CBC television program “Dragons’ Den“, said it’s important to be both passionate and well-prepared when pitching your business to investors.

RESUME suggestions to drive value

2010-04-19T15:25:00.000-07:00

The following are some ideas you can use to edit your “resume content”.

I found this artical which would be valuable to review in relationship to YOUR resume. Remember, read it with a critical eye as if you were looking to hire yourself.

Here are ten of the deadliest resume phrases in use ("massive overuse" would be more accurate) and replacements for each one. You'll rewrite the replacement phrases to reflect your own accomplishments--and that's the key! We can't expect a timeworn piece of resume boilerplate to stand in for our own pithy, personal examples.

Kill this: Results-oriented professional
Replace with your own version of this: I love to solve thorny supply-chain problems

Kill this: Excellent team player
Replace with your own version of this: At Acme Dynamite, I partnered with Engineering to cut our product cost in half

Kill this: Bottom-line orientation
Replace with your own version of this: My accounting-process overhaul saved the company $10M in its first year

Kill this: Superior communication skills
Replace with your own version of this: I led a two-day offsite that yielded our 2010 product lineup and a $40K cost savings

Kill this: Possess organizational skills
Replace with your own version of this: Reduced customer-complaint resolution time from three weeks to one by revamping the process

Kill this: Savvy business professional
Replace with your own version of this: I'm a PR manager who's gotten his employers covered by Yahoo! and Time magazine

Kill this: Strong work ethic
Replace with your own version of this: I taught myself HTML over a weekend in order to grab a marketing opportunity

Kill this: Meets or exceeds expectations
Replace with your own version of this: Invited to join our executive staff at a strategy summit during my first year at the company

Kill this: Strong presentation skills
Replace with your own version of this: Was recruited to join Acme Dynamite after my boss heard me speak at a conference

Kill this: Seeking a challenging opportunity
Replace with your own version of this: I'm looking for a midsize manufacturer primed to grow its business in the Pacific Rim
Get the boilerplate lead out of your resume today, and replace it with concrete, visual stories that bring your power to life. Watch employers respond! You can't afford to send out another lifeless, sounds-like-everyone-else resume. Employers want the real you on the page. Try it!

--
Liz Ryan is a 25-year HR veteran, a former Fortune 500 VP, and an internationally recognized expert on careers and the new-millennium workplace. Connect with her at www.asklizryan.com.

Interesting perspective on Work/Life Balance?

2010-02-11T11:51:00.000-08:00

Work/Life Integration To Weigh On Executive Retention Risks

Much has been written and researched on the emergence over the past decade of work/life balance and its influence on career management decisions and employee retention.

The results of ExecuNet's recent Executive Retention Report research, conducted jointly with Finnegan Mackenzie — The Retention Firm, reveal that although concerns about work/life balance have abated in the dismal management-hiring environment of the past 18 months, talented executives won't overlook work/life balance when it comes to assessing new career opportunities.

Yet the concept of work/life balance for senior-management executives itself may be somewhat of a misnomer, especially given the demands on their schedules and the increasing influence of technology as a communication- and decision-enabler.

ExecuNet Editor-In-Chief Robyn Greenspan, a leading voice on executive career management issues, contends that it is actually work/life integration rather than balance that will factor into executive decisions about whether to stay in or leave their existing leadership roles.

Greenspan says executives' sense for how they can effectively integrate their management responsibilities with their own personal lives/schedules will, in many cases, help guide their career decisions in 2010 and beyond.

CFO opportunities are back.

2010-02-07T10:52:00.000-08:00

Stan Taylor, CSAM
877-695-4688, ext 112
staylor@mrvancouver.com

Are you a CFO who is ready for a new challenge, or know one who is? After the last couple of years in the banking industry many are feeling it is time for a change, in fact 60% of employees are dissatisfied to one degree or another with their current company.

Many very good executives are looking for that change, a new challenge where they can be the catalyst, part of a dynamic executive team ready to be at the forefront as we come out of the carnage and uncertainty of the last couple years.

If you are one of those looking to become part of the strategic vision, “the catalyst if you will”, then this might just be the opportunity for you. Reality will still mean rolling up the sleeves as we rebuild and grow those critical functions to their needed levels…..and add the staff & technology to be at the forefront of the recovery.

One of the questions you need to be able to answer is do you know how to make your bank money?

The Ideal candidate will possess many or most of the following traits and experience:

• Strategic Financial Partner “Big Picture Person”, to the CEO.
• Yet still know the technical accounting pieces.
o Good GAAP & FASB knowledge.
• Be a leader to the Finance & Accounting staff.
• Partner to the business lines.
• Excellent Communicator, both written and oral;
o Able to convey complex financial information to the appropriate audience, whether it be the Board, management or staff.
o Good at speaking with the Analyst, Investors, Market Makers & Regulators.
• Be Approvable.
• Must have recent Community Bank CFO experience either in the:
o 300mm-2B or
o 1B-5B range.
• Good Energy level to fit the “team”.
• Regulatory reporting experience.
• Proven Decision Maker.

It would be beneficial if you:

• CPA or comparable experience.
• M&A experience (welcome to 2010).
• Public Offering experience.
• SEC/SOX experience.
• Understanding of Tax ramifications.
• Strong individual who connects well with the rest of the team, someone who adds synergistic value, not just your own skill level.

You know – Someone who has an ability to get things done, Makes a difference.

FIRST FRIDAY PREVIEW

2010-02-07T10:51:00.000-08:00

As you will see in the First Friday Preview below, the good news is that we have had two quarters of continuous growth, and increasing growth at that. Q3 was 2.2% and Q4 was an impressive 5.7%!

In our industry we are seeing the beginning of the critical staffing recovery beginning across the country as Banks see a glimmer at the end of the tunnel, and need to be prepared to not only survive but begin to thrive.

MANAGEMENT RECRUITERS OF VANCOUVER

February 2010 |Volume 4 | Issue 2

GLOBAL

Today’s Proposals May Be Tomorrow’s Staffing Headaches
At the end of January, economists and world leaders converged on Davos, Switzerland for what is commonly labeled as spring break for economists, but more formally called the World Economic Forum’s annual meeting. Last year’s meeting took place in the depths of the worst economic crisis since the 1930s. This year, where we are in the crisis is the job of many of those at Davos to both determine and decide.

One thing that has become apparent is just how globally connected our economies truly are. Everyone from U.S. Representative Barney Frank to French President Nicolas Sarkozy has used Davos to call for initiatives that are global, not just in their thinking, but in their scope.

Frank proposed creating global bank regulations that would help prevent the international game of regulatory arbitrage multi-national banks have been able to play until now. His sentiments were quickly echoed by global central bankers who pronounced that more regulation is coming.

Sarkozy pledged to work towards a much more ambitious goal when France takes the presidency of the G-20 next year. He literally called for “a new Bretton Woods” conference, a reference to the 1944 convention of world economic leaders that set the framework for a new international monetary system after World War II. The boldest element of Sarkozy’s goal is a proposed global currency, removing a need for exchange rates and preventing countries—like China—from artificially altering their currency’s value.

“While Sarkozy’s proposals may be to the extreme of global changes that will actually come to pass in the next few years, there is little doubt that the landscape is in for some fundamental changes that will ripple beyond just banking,” says Tony McKinnon, president of MRINetwork.

“Companies trying to adapt to changes in either an industry or an economy need to be agile in their hiring, especially with so much uncertainty in the global economy today,” says Evan Davis, chief operating officer of MRINetwork. “While internal recruiting efforts may have created a deep catalog of candidates for existing needs, a change of direction or conditions requires a whole new lineup of candidates, something that can take months if not years to develop from scratch.”

In the United States, initial estimates for real GDP growth for the 4th quarter of 2009 released in January showed a 5.7 percent annualized growth rate. The second consecutive positive GDP reading indicates that the Great Recession did in fact end in mid-2009. Yet, with trillions of dollars injected into the U.S. economy, growth rates seem to lack some luster. In inflation adjusted 2005 dollars, U.S. GDP grew to $13.16 trillion, $254 billion more than in the second quarter of 2009, but still $260 billion shy of the GDP’s peak in the second quarter of 2008.

“While it’s impossible to say there is anything wrong with the strongest GDP growth in years, unfortunately it will take another one or two quarters to know if this is a spike or the beginning of something sustained,” notes McKinnon.

Recent MRINetwork® Analysis

Employers that want to retain their talented and skilled workers should be aware of what tends to make their employees happy at work. For some, that may be flexibility with their work schedules. Others cite a friendly, collegial environment. Rarely is compensation listed as what makes people happiest at work.

But with some employers handling layoffs poorly, the attitude is "when this market turns and I'm no longer fearful of losing my job, I'm going to be finding a new job," says Stacy Ethun, president of Park Avenue Group, the Orlando affiliate of MRINetwork.

Stacy Ethun, president, Park Avenue Group
South Florida Sun-Sentinel, January 13, 2010

A significant portion of the 5.7 percent GDP growth came from retailers and manufacturers replacing depleted stocks, not true growth in production or commerce. Whatever remaining growth after that is consumed by the $270 billion of the 2009 recovery package that has already been released into the economy. Once these effects wear off, economists predict real growth could fall to 1.5 percent by the end of the year.

With the amount of liquidity that has been put into the economy, inflation continues to be a concern. Over the last 12 months, the Consumer Price Index has risen by 2.7 percent. While inflation is factored into real GDP growth, a slight increase could wipe out most—if not all—of a small GDP growth.

“All these factors contribute to the vital need for a flexible workforce,” says Davis. “After a prolonged downturn like we’ve just seen, operating reserves for many companies have been drained, allowing little room for error. The firms that will perform best in this environment are those that are able to quickly adjust their workforce to both positive and negative events.”

U.S. Annualized GDP
(in billions of 2005 dollars)

Source: U.S. Labor Department

TURKEY The Eurasian Bridge Sees a Soft Recession

The land that now connects Europe to Asia and the Middle East has had its fair share of history. Around 1100 B.C. the Trojan War, if it in fact took place, was believed to have been fought on what is now Turkish soil. In 334 B.C. the Achaemenid Empire fell to Alexander the Great. The first crusade was launched after the Byzantine emperor appealed for help from Pope Urban II in the 1060s. The modern day Republic of Turkey came into existence with the fall of the 600-year-old Ottoman Empire after World War I.

While Turkey’s predecessors were often placed on the world stage through conflict, in recent decades Turkey has risen to prominence because of its economy. A founding member of the G-20 major economies, Turkey has maintained a strong and resilient global economy over the years.

Despite being hit hard in 2009, the Istanbul Stock Exchange proved to be the second best performing exchange in the world, behind Argentina’s.

Since the start of the Great Recession, unemployment rose just under four points from 9.5 percent to 13.4 percent in the 2nd quarter of 2009. By the 3rd quarter of 2009, the most recent available period, unemployment had already declined to 13 percent.

“The first half of 2009 was when we really felt the recession hit,” says Metin Uludag, owner of Global Danismanlik, an MRINetwork office in Istanbul, Turkey. “But by the end of the year we started to see some real change and now high-level job orders are starting to come in again.”

One stabilizing influence in Turkey’s economy is the Turkish banking system that had minimal subprime exposure and survived the downturn without having to tap government capital. In fact, Turkey is one of the only G-20 nations to have not yet had to prop up any banks, leaving the government better able to provide stimulus funds in other areas.

Recently, declaration of the recovery in Turkey’s economy has come from none other than its most famous native economist, Nouriel Roubini. He notes though, that since much of Turkey’s foreign trade is with European countries, the pace of an E.U. recovery will largely determine the speed of Turkey’s.

On the horizon for close to five years now has been Turkey’s entrance into the European Union itself. Turkey entered into a customs union agreement with the E.U. in 1995. It then began negotiations to join as a full member in 2005. The process has been delayed for many reasons, including immigration concerns, the country’s Islamic heritage and whether Turkey can even be considered a part of Europe.

“For an ever growing number of products, Turkey has become a hub, a logical distribution point between Asia and Europe,” notes Uludag. “Be it FMCG, chemicals, or oil, as soon as the flow of goods increases, we’ll see that impact Turkey. In fact, the process may have already begun.”

FLORIDA Seeking Growth After the Bubble

For a few years now, Florida hasn’t been quite as sunny as people remember it. Home prices that seemed in an eternal upward rise have plummeted and the jobs that were created to support a growing population and tourist market have dried up.

“Florida’s population actually decreased for the first time in memory, as people who had moved here from the North were unable to find work and had to return to the cold,” says Jeff Dentz, president of The Dentz Group, an MRINetwork office in Bradenton, who himself escaped Wisconsin.

The financial crisis has impacted employers of all kinds in the state. Aside from sliding sales, the latest blow is a massive increase in the cost of unemployment insurance. In an effort to stabilize an exhausted unemployment insurance fund, the minimum per employee price of unemployment insurance has risen from $8.40 in 2009 to $100.30 this year.

Nonetheless, Florida’s Governor Charlie Crist is expressing optimism, claiming that Florida’s lull, not just the recession, is nearing its end. In his 2010 budget, he has proposed a 4 percent increase in spending, the first increase since 2006, though he is relying on federal stimulus dollars to bridge a budget gap.

“What is most worrisome for employment on the whole is that companies that have already tightened their belts may be slow to loosen them again,” notes Dentz.

2009-11-25T12:09:00.001-08:00

I wanted to take this opportunity to wish you all a Happy Thanksgiving. It is a time to look back on the past year and look at the blessings, the positives in our lives.

Given the media and the economy it is sometimes easy to forget the good things, the little victories we all have. This is definitely a time to remember and reflect on those victories, big and small; to set the stage for not only a great holiday season, but to get recharged for a recovering positive 2010.

Sincerely,
Stan Taylor, CSAM

Seven Rules For Succeeding As A Brand-New Leader

2009-11-11T12:01:00.000-08:00

Michael D. Watkins 11.04.09, 5:05 PM ET

The actions you take during your first few months in a new role have a major influence on whether you ultimately succeed or fail. Transitions are pivotal times, in part because they are when everyone expects change to occur. They're also times of great vulnerability, when new leaders lack established working relationships and detailed knowledge of their new roles. If you fail to build momentum during your transition, you will face an uphill battle from then on.

What does it take to make a successful transition into a new role? My research has led me to compile seven rules that can help any newly appointed leader take charge more effectively:

Rule 1: Leverage your time before entry.

Your transition begins during the selection process when you're being picked for the job, not when you formally enter the organization. If you fail to use the time before your move effectively, you'll undermine your ability to get on top of the job right from the start. It's a priceless period for absorbing information about your new organization and beginning to plan. Wise new leaders therefore use the time between the decision to take a new position and the formal start date to jump-start the transition process.

Rule 2: Organize to learn.

Taking on a new role can feel like sailing into a dense fog. You can see only a short distance and must exercise great caution as you strive to get your bearings. Because expectations for you are high and your time is precious, you must be an active learner. This means organizing to learn as efficiently as possible everything you need to learn about your new role. Plan early on to focus on three distinct types of learning: technical, political and cultural. Technical learning means understanding products, markets, customers, strategy and operations. Political learning means assessing how decisions are made, understanding who is most influential and identifying key sources of power. Cultural learning means understanding your new organization's norms and values, its accepted ways of working and all the habits that make its character unique.

Rule 3: Secure early wins.

By the end of your first few months on the job, you will have to have made substantial progress energizing people and focusing them on solving the business's most pressing problems. It is crucial that people see momentum building from the start. Tangible improvements motivate employees, encouraging them to try for still more and better. So plan to secure early wins by identifying significant problems that can be tackled in relatively little time. Their solutions must yield identifiable operational and financial improvements in performance.

Rule 4: Lay the foundation for success.

Early wins will help you get off to a good start, but they won't suffice for continued success. You must also lay a foundation for the deeper changes that can bring sustained improvement in your organization's performance. Your efforts during the first six months to lay that foundation must focus on building the team, transforming key structures and processes and developing all the skills you yourself will need to achieve your goals.

Rule 5: Construct a personal vision.

To get people to buy in and go the extra mile, you need to conceive a personal vision for your organization and make it a shared vision. You do this through cycles of observation, imaginative visualization and clarification. The new leaders best able to formulate a vision of what they want to accomplish are those who observe most carefully how their new organizations work. Thoughtful observation of the situation at hand, and hard-headed assessment of potential threats and opportunities, enables you to imagine--and communicate--what might be.

Rule 6: Build alliances.

You can only transform an organization if powerful people and groups find that helping you do so is in their own interest. New leaders can learn and plan, but they can achieve little on their own. Armed with knowledge of the political landscape, reach out and consolidate potential sources of support. Strive to convince those who can be convinced. Early in the transition, many people will be neither dedicated supporters nor implacable opponents. They will be indifferent or undecided--and, hence, persuadable.

Rule 7: Manage yourself

Finally, knowing and managing yourself is as important as knowing and managing the organization. The physical demands of a transition are high as you log endless hours traveling and attending meetings and face ever more work. The emotional demands are also great as you try to cope with not only challenges at work but also disruptions in the usual rhythms of life at home. You must therefore prepare for the emotional burden of transition by developing ways to maintain your equanimity. The key is to build the right networks for advice and counsel that can help you to exercise clear-headed judgment, stay focused and maintain emotional evenness.

It's up to you.

Success in putting these seven rules into practice won't guarantee a smooth transition. Even the best-laid plans can go awry. But care in planning and carrying out a transition can substantially improve your chance of success--and your chance to get opportunities to make further transitions in the future.

Michael D. Watkins is the author of Your Next Move: The Leader's Guide to Navigating Major Career Transitions. He is co-founder of Genesis Advisors, a leadership development firm in Newton, Mass., that specializes in transition acceleration programs and coaching. His previous books include The First 90 Days: Critical Success Strategies for New Leaders at All Levels and The First 90 Days in Government: Critical Success Strategies for New Public Managers at All Levels.

Forbes.com

WORKERS READY TO MAKE A CHANGE!

2009-11-06T10:21:00.000-08:00

It is taken form the Gilbert Gazette newsletter.

Note the projected number of folks heading back to India and China.
These are typically your highly educated people.

Surveys Shows Workers Are Ready to Make Changes
Several recent surveys show that the recession is having a profound impact on workers and employment trends worldwide. Even though they measure different things - global hiring, immigration repatriation, and career trends - the theme is the economy is global and when it recovers, things will not go back to the way it was.

Reverse Immigration: More skilled immigrants are pursuing careers back home, raising concerns that the U.S. may lose its competitive edge in science, technology, and other fields. "What was a trickle has become a flood," says Duke University's Vivek Wadhwa, who studies reverse immigration.

Wadhwa projects that in the next five years, 100,000 immigrants will go back to India and 100,000 to China, countries that have had rapid economic growth.

Monster poll: Workers in North America and Europe showing 89 percent would consider or would make a career change if it meant finding a new job. While only 11 percent of the 22,444 of Monster site visitors in Europe, Canada, or the U.S. said they wouldn't change careers, while 49 percent said they're ready to change careers now.

The 'Global Snapshot' survey from international recruitment firm Antal asked 7397 companies in major markets such as western and eastern Europe, Africa, India, China, and the USA if they were currently hiring at professional and managerial levels. The survey shows current hiring across the globe is up from 46% of respondents to 50% now. Organizations intending to hire is up from 44% to 48%. Organizations intending to shed staff has fallen from 35% to 25% now.

In the US, the percentage of organizations hiring has risen to 55% from 43% in April and of those intending to hire in the coming quarter to 56% from 34%. Furthermore firing levels are down, albeit marginally from 38% to 34%. In the U.S., 55 percent of respondents report hiring, with the same percentage planning to hire next quarter. By Joan Runnheim Olson

This article speaks to what I have been seeing in the market. Activity is picking up, more and more banks are backfilling & topgrading talent than at any time in the last two years.

Stan Taylor, CSAM

DENOVO period now 7 years, up from 3!

2009-08-28T13:38:00.000-07:00

Enhanced Supervisory Procedures for Newly Insured FDIC-Supervised Depository Institutions

FIL-50-2009August 28, 2009

Summary:

The FDIC is advising the banking industry of supervisory changes for state nonmember institutions insured seven years or less (de novo period). Under current policy, newly insured institutions are subject to higher capital requirements and more frequent examination activities during the first three years of operation. Based on supervisory experience, the FDIC will now extend the de novo period from the current three-year period to seven years for examinations, capital, and other requirements. In addition, material changes in business plans for newly insured institutions will require prior FDIC approval during the first seven years of operation.

Highlights:

Recent experience has demonstrated that newly insured institutions pose an elevated risk to the FDIC Deposit Insurance Fund. Depository institutions insured less than seven years are over represented on the list of institutions that failed during 2008 and 2009, with many of those failures occurring during the fourth through seventh years of operation.
A number of newly insured institutions have pursued changes in business plans during the first few years of operation that have led to increased risk and financial problems where accompanying controls and risk management practices were inadequate.
To address the heightened risks presented by newly insured depository institutions, the FDIC is extending the supervisory procedures for the de novo period from three to seven years.
During the seven-year de novo period, these institutions will remain on a 12-month risk management examination cycle and be subject to enhanced supervision for Compliance examinations and Community Reinvestment Act evaluations.
Any material change in an institution's business plan during the de novo period also will require prior FDIC approval.
These procedures apply to existing newly insured institutions.
De novo institutions that are subsidiaries of existing "eligible" holding companies generally will be excluded from these procedures.

full doc a this link:
Continuation of FIL-50-2009

ARE YOU READY FOR AFTER SURVIVAL?

2009-05-12T07:27:00.000-07:00

Are you thinking about what comes after surviving the recession?
Are you beginning to think about thriving?
Do you have the right people in place or identified?

A great article by Economist Bill Conerly.

Business Challenges After the Recession

When the recession is over, business challenges will be different, not gone. Companies wrestling with the downturn need to consider what new problems they’ll face in the recovery.

You may have cut back on your staffing level to survive the recession. When sales recover, you’ll start hiring—but whom? Many of the folks you laid off will not be available. Some of the people you hire may not have worked in your industry before. You will have a training challenge greater than you had before the recession.

The employees who stayed with you through the recession will be different. They may have felt guilty when they survived layoffs. Then they worked hard without bonuses, pay raises or much chance of promotion (because the company was not expanding, and few higher-ups were quitting or retiring). After working hard through the recession, their attitudes will be different than had been a few years earlier.

Consumers are cutting back on their spending, but the day will come when they buy cars and furniture again. How will the recession change their attitudes? Will they buy the same products, the same styles, at the same price points as they did in 2005? Probably not. What mix of products will fill the consumer’s need to celebrate the return to normalcy, without falling into the same old bad habits?

When it’s time to ramp up production, will your vendors be ready? If you had to cut back your orders during the recession, your vendors will be hurting. They may have laid off key personnel, and they may not have the financing in place to buy raw materials to provide you with products. Their problems will become your problems if you rely on them for critical supplies.

Speaking of finance, what about your own situation? The financial crisis has changed the world of credit in ways that won’t quickly be reversed. Securitization will continue, but at a much slower pace, with far simpler deals. This is a problem even for companies that never floated complex deals on Wall Street. Virtually all forms of business credit have been securitized: bank loans, lease receivables, commercial mortgages, credit card debt. Many business borrowers didn’t even know that the money for their loans came through these channels. The closure of secondary markets, though, makes business credit harder to obtain.

Business recoveries are stressful to balance sheets. Chief financial officers who have felt stressed by declining sales volumes will feel a different kind of stress next year. Increasing orders will require spending on inventories and personnel, much of which has to take place before payments are received from customers. This need for working capital will increase before credit markets fully adjust to the financial crisis.

How does a business leader prepare for these new challenges? The first step is to keep the company going, which means dealing with today’s challenges. At the same time, take a few hours and sketch out the challenges you expect when the recovery comes. Bring in a few colleagues and brainstorm. Then look at the issues that need current action. Some problems can wait until they arise, but others can be nipped in the bud with a little forethought. The companies that thrive in the recovery will be those that not only survived the recession, but also planned for better times.

by Bill Conerly
Economist
Copyright 2006-2008
Conerly Consulting LLC

1099 VS W-2, AN IRS CHECKLIST

2009-04-14T07:58:00.000-07:00

1099s and Taxes

When a person is paid on the form, 1099-misc, all money earned by the individual is paid on an untaxed basis. It is then the responsibility of the individual to file and pay the appropriate taxes. These taxes can be owed to Federal, State and Local governments. Workers' compensation and unemployment issues also must be addressed independently.

W-2s and Taxes

When a person is paid on the form W-2, the employer automatically withholds and pays all of the necessary employee income taxes as required by the IRS. These taxes include: Federal Income Tax, State Income Tax, and FICA (Social Security and Medicare). In addition, the employer will pay all of the necessary employer taxes. These taxes include: FICA (Social Security and Medicare), FUTA (Federal Unemployment Tax), and SUI (State Unemployment Tax).

IRS 20 Point Checklist for 1099 Workers

Specific factors that are used by the IRS in determining whether an individual is an employee (W-2) or an independent contractor (1099) are listed below. This listing is commonly referred to as the "20 factors" test. This 20-point checklist is only a guideline; it does not guarantee that a person is correctly classified. Most agencies and courts typically look to the totality of the circumstances and balance the factors to determine whether a worker is an employee.

1. Must the individual take instructions from your management staff regarding when, where, and how work is to be done? A worker who is required to comply with other persons' instructions about when, where, and how he or she is to work is ordinarily an employee. This control factor is present if the person or persons for whom the services are performed have the right to require compliance with instructions.

2. Does the individual receive training from your company? Training a worker by requiring an experienced employee to work with the worker, by corresponding with the worker, by requiring the worker to attend meetings, or by using other methods, indicates that the person or persons for whom the services are performed want the services performed in a particular method or manner.

3. Is the success or continuation of your business somewhat dependent on the type of service provided by the individual? Integration of the worker's services into the business operation generally shows that the worker is subject to direction and control. When the success or continuation of a business depends to an appreciable degree upon the performance of certain services, the workers who perform those services must necessarily be subject to a certain amount of control by the owner of the business.

4. Must the individual personally perform the contracted services? If the services must be rendered personally presumably the person or persons for whom the services are performed are interested in the methods used to accomplish the work as well as in the result.

5. Have you hired, supervised, or paid individuals to assist the worker in completing the project stated in the contract? If the person or persons for whom the services are performed hire, supervise, and pay assistants, that factor generally shows control over the workers on the job. However, if one worker hired supervises, and pays the other assistant pursuant to a contract under which the worker agrees to provide materials and labor and under which the worker is responsible only for the attainment of a result, this factor indicates an independent contractor status.

6. Is there a continuing relationship between your company and the individual? A continuing relationship between the worker and the person or persons for whom the services are performed indicates that an employer-employee relationship exists. A continuing relationship may exist where work is performed at frequently recurring although irregular intervals.

7. Must the individual work set hours? The establishment of set hours of work by the person or persons for whom the services are performed is a factor indicating control.
8. Is the individual required to work full time at your company? If the worker must devote substantially full time to the business of the person or persons for whom the services are performed, such person or persons have control over the amount of time the worker spends working and impliedly restrict the worker from doing other gainful work. An independent contractor, on the other hand, is free to work when and for whom he or she chooses.

9. Is the work performed on company premises? If the work is performed on the premises of the person or persons for whom the services are performed, that factor suggests control over the worker, especially if the work could be done elsewhere.

10. Is the individual required to follow a set sequence or routine in the performance of his work? If a worker must perform services in the order or sequence set by the person or persons for whom the services are performed, that factor shows that the worker is not free to follow the worker's own pattern of work but must follow the established routines and schedules of the person or persons for whom the services are performed. Often, because of the nature of an occupation, the person or persons for whom the services are being performed do not set the order of the services or set the order infrequently. It is sufficient to show control, however, if such person or persons retain the right to do so.

11. Must the individual give you reports regarding his/her work? A requirement that the worker submit regular or written reports to the person or persons for whom the services are performed indicates a degree of control.

12. Is the individual paid by the hour, week, or month? Payment by the hour, week, or month generally points to an employer-employee relationship, provided that this method of payment is not just a convenient way of paying a lump sum agreed upon as the cost of a job. Payment made by the job or on a straight commission generally indicates that the worker is an independent contractor.

13. Do you reimburse the individual for business/travel expenses? If the person or persons for whom the services are performed ordinarily pay the worker's business and/or traveling expenses, the worker is ordinarily an employee. An employer, to be able to control expenses, generally retains the right to regulate and direct the worker's business activities.

14. Do you supply the individual with needed tools or materials? The fact that the person or persons for whom the services are performed furnish significant tools, materials, and other equipment tends to show the existence of an employer-employee relationship.

15. Have you made a significant investment in facilities used by the individual to perform services? If the worker invests in facilities that are used by the worker in performing services and are not typically maintained by employees (such as the maintenance of an office rented at fair value from an unrelated party), that factor tends to indicate that the worker is an independent contractor. On the other hand, lack of investment in facilities indicates dependence on the person or persons for whom the services are performed for such facilities and, accordingly, the existence of an employer-employee relationship.

16. Is the individual free from suffering a loss or realizing a profit based on his work? A worker who can realize a profit or suffer a loss as a result of the worker's services (in addition to the profit or loss ordinarily realized by employees) is generally an independent contractor, but the worker who cannot is an employee.

17. Does the individual only perform services for your company? If a worker performs services for a multiple of unrelated persons or firms at the same time, that factor generally indicates that the worker is an independent contractor.

18. Does the individual limit the availability of his services to the general public? The fact that a worker makes his or her services available to the general public on a regular and consistent basis +indicates an independent contractor relationship.

19. Do you have the right to discharge the individual? The right to discharge a worker is a factor indicating that the worker is an employee and the person possessing the right is an employer. An employer exercises control through the threat of dismissal, which causes the worker to obey the employer's instructions. An independent contractor, on the other hand, cannot be fired so long as the independent contractor produces a result that meets the contract specifications.

20. May the individual terminate his services at any time? If the worker has the right to end his or her relationship with the person for whom the services are performed at any time he or she wishes without incurring liability, that factor indicates an employer-employee relationship.

If after reviewing this IRS 20-point checklist you find your "consultants" should be W-2 rather then 1099 we can assist you with that transition.

NOTICE: Management Recruiters of Vancouver has provided the content of this document for general informational purposes only. You should not substitute this information for personal consultation with a qualified professional in the field, nor should you rely upon this information in taking any action. No attorney-client relationship will be created through your use of this document.

MARK TO MARKET CHANGES COULD CREATE OPTIONS FOR BANKS

2009-04-03T08:07:00.000-07:00

ACTUAL TITLE
"Accounting rule change could end bank crisis, or make it worse"

The little-known Financial Accounting Standards Board (FASB) is poised to deliver today a change in accounting rules that proponents say will save the banking system — and opponents warn could bring even more ruin to the U.S. economy.

link for more detail:
(FASB 157) http://www.fasb.org/st/summary/stsum157.shtml

By Kevin G. Hall
McClatchy Newspapers

WASHINGTON — The little-known Financial Accounting Standards Board (FASB) is poised to deliver today a change in accounting rules that proponents say will save the banking system — and opponents warn could bring even more ruin to the U.S. economy.
The FASB is expected to relax the rules on how banks value assets that investors no longer are willing to purchase.
Current rules require banks to list the value of assets on their books at their current market price — a practice called "mark-to-market." The assets, however, at the center of the global financial meltdown — securities backed by bad mortgages — have no market. Investors simply won't touch them.
That's forced banks to lower the reported value of their assets, and quarter after quarter since mid-2007, they've had to write off more and more losses. That forces them to hoard their capital, rather than lend it, to offset their losses. That's how the housing crisis begat the banking crisis, which begat the U.S. economic crisis, which begat the global financial meltdown.
Banks say the mark-to-market accounting rule has worsened the financial crisis by making institutions appear weaker than they really are. The pools of mortgages, they say, should be valued not on what they're worth today, but what they are expected to be worth at maturity.
"Why should all assets be treated as if they're really for sale?" asked Bert Ely, a banking expert who gained wide recognition during the savings-and-loan crisis of the late 1980s.
During the S&L crisis, government regulators initially eased federal accounting rules for troubled S&Ls, which hid their negative worth and allowed them to make even worse decisions that led to their collapse and an expensive federal rescue.
Could it happen again?
Enter FASB. The Norwalk, Conn., private-sector entity adopts common standards that are accepted by regulators such as the Securities and Exchange Commission (SEC).
FASB moved with breakneck speed to consider the rule change after its chairman, Robert Herz, was roughed up by lawmakers on March 12 and warned that Congress could impose new rules if he wasn't willing to do so. Democrats, led by Massachusetts Rep. Barney Frank, the chairman of the House Financial Services Committee, insisted on the change.
FASB is expected to relax mark-to-market rules, sometimes called fair-value accounting, to recognize the maturity value of the mortgage securities often referred to as toxic assets.
Supporters think this will provide a tremendous boost to banks and ease the economic crisis.

"I think change in mark-to-market (rules) would make a big difference. If there's a bottom spotted on the economy, then the banking thing goes away. As soon as Wall Street sees a bottom, then you can make accurate forecasts. When you can do that, the banking crisis ends," said James Paulsen, chief investment strategist for Wells Capital Management, a subsidiary of Wells Fargo. "That's equivalent to a huge toxic asset (being lifted) because you bring private investors back in."
The rule change could allow banks to use one accounting standard for what it reports to the SEC, whose mandate is investor protection, and a more relaxed standard for reporting to banking regulators. That would ease the demand on banks to raise more capital in a distressed environment.
Critics think the change would allow banks to cook their books by hiding their truly bad assets behind longer maturity dates.
"The biggest problem with mark-to-market isn't mark-to-market, it's what part of the balance sheet is mark-to-market and what part is not," said Franklin Raines, the former chief executive of mortgage-finance giant Fannie Mae. If FASB relaxes the rule for distressed bank assets, he said, "You have got a distortion in the balance sheet that nobody can understand."
The changes would allow banks to revise their first-quarter 2009 reports to reflect a hold-to-maturity value on assets that no investor will buy now. Some advocates have proposed allowing this change to apply retroactively to the dismal last quarter of 2008, and perhaps even further back.
The change has been debated from the very start of the financial crisis in mid-2007, so action now raises eyebrows.
"It's an awkward time to do it," said David Wyss, chief economist for the credit rating agency Standard & Poor's in New York. He said it gives the appearance of sweeping problems under the rug.
The action could add more uncertainty, warned Gary Stern, the president of the Federal Reserve Bank of Minneapolis.
"I think it would raise as many problems as it answers," he told McClatchy Newspapers.

How will this benefit your Financial Institution?

2009-03-04T13:32:00.000-08:00

Fed launches new $200B consumer credit program

By JEANNINE AVERSA, AP Economics Writer Jeannine Aversa, Ap Economics Writer – Tue Mar 3, 5:00 pm ET

WASHINGTON – The government launched a much-awaited program Tuesday to spur lending for autos, education, credit cards and other consumer loans by providing up to $200 billion in financing to investors to buy up the debt.
If the program succeeds, it should help bust through the credit clogs in place since last year and make it easier for Americans to finance large and small purchases at lower rates, Federal Reserve Chairman Ben Bernanke told Congress. That, in turn, would help revive the economy, he said.
Created by the Fed and the Treasury Department, the program has the potential to generate up to $1 trillion of lending for businesses and households, the government said. It will be expanded to include commercial real estate, though that won't be part of the initial rollout.
"There's a looming crisis in commercial real estate whereby owners of shopping malls, hotels, rental properties and many other types of buildings are unable to refinance or to pay for new construction because the (commercial) securitization market is completely shut down," Bernanke said during an appearance before the Senate Budget Committee.
The program will start off by providing $200 billion in loans to investors with the goal of jump-starting lending to consumers and small businesses. The program, dubbed the Term Asset-Backed Securities Loan Facility, was first announced late last year and originally was scheduled to start in February.
Participants — companies and investors that pledge eligible collateral to back the loan — must request the new government loans by March 17. The Fed will provide the three-year loans on March 25.
"We should see immediate benefits to students, to credit cards, to small businesses, to consumer loans," Bernanke told lawmakers.
Under the program, the Fed will buy securities backed by different types of debt, including credit card, auto, student and small business loans. The credit crunch — the worst since the 1930s — has made it much harder for people to obtain such financing , and those that do can be socked with high rates.
Before the financial crisis, banks relied on packaging such loans into securities and selling them to pay for additional lending. That process had financed about 25 percent of consumer loans in recent years until the credit markets ground to a halt in October, the government said.
Anil Kashyap, a professor at the University of Chicago's Booth School of Business, said the program should make it easier for consumers to get loans. But he cautioned that the Fed's involvement in this area could have unintended consequences elsewhere by making other debt securities not backed by the government less attractive to investors.
"We'd really rather the credit markets just work properly," Kashyap said.
The Fed plans to keep the program running through December, but said it could be extended.
The Fed and Treasury expect that securities backed by car-fleet leases as well as by certain equipment, including for heavy construction and for agriculture, will be eligible for Fed funding in its April operation. Participants in the second round of funding must request the government loans by April 7, which the Fed will disburse on April 14.
The program, the Fed said, will remain focused on securities that are best able to aid the economy and financial markets and that can be added at a low risk to the government.
Limits on executive compensation that apply to financial institutions receiving capital from the $700 billion rescue program won't apply to lenders and other participants benefiting from the program. That's because it wants "to encourage market participants to stimulate credit formation" and use the program, the Fed said.
___
AP Economics Writer Christopher S. Rugaber contributed to this report.

Happiness!

2009-01-15T07:44:00.001-08:00

"The U.S. Constitution doesn't guarantee happiness,

only the pursuit of it.

You have to catch up with it yourself."

Benjamin Franklin (1706–1790) American statesman, scientist & printer

The "No Jobs" Myth -

2009-01-07T14:55:00.000-08:00

Recently the news media, economists and any pundit who could get space in a newspaper, on TV or on the radio talked about the US losing over 500,000 jobs in the month of November. For those who lost jobs, as we know, these are difficult times, financially, socially and emotionally.

We do not minimize that loss for anyone.

As we consider what this means to our company (and the unemployed we continue to help), it is important to keep things in perspective. Compared to the media's version of our job market, the real data is encouraging when we consider our economy's: 1) total jobs and, more importantly, 2) overall hiring activity.

First, consider the number of jobs lost in November – 533,000. We're told that: "It was the most jobs lost in one month since December 1974." That's a nice sound bite if you are writing a newspaper article. Another accurate sound bite is: "In the month of November, we lost 34 one hundredths of one percent of the total jobs in America." And it looks like this:
And consider that in each month of the first 10 months of this recession over six times as many people were hired. How does that make sense? How can we be hiring millions and be losing jobs at the same time? The answer is employee turnover and what economists call "churn".

Churn refers to the natural number of businesses failures and startups. Employee turnover refers to such things as employee quits, relocations, deaths, terminations and retirements. Even when there is not economic growth, both churn and turnover lead to job openings, which in turn lead to hires. And the number of hires each month is a more relevant and meaningful number for both the unemployed and the staffing industry.

So how many hires do we normally have and how has this recession affected the number of hires? In a good economy such as September 2006- September 2007 the number of hires was 58 million. In our current recession the following year (2007-2008) it has fallen by only 8% to 54 million according to the latest data. And it looks like this:

So, even in the middle of this recession, though you wouldn't know it from the media, there were 54 million hires. This means that if you were in an average US town of 100,000, employers hired 17,500 people in the last year. In the year before, they would have hired 19,000 people. Fortunately, for our company and the job seekers we place, employers keep hiring, even in a downturn.
Staffing has grown to be a great solution for employers who need people to keep their businesses healthy as well as for job seekers who need jobs to keep their lives and families healthy. Staffing companies save both employers and job seekers time and money and are a key in keeping our country healthy in this economic downturn. Instead of stepping back and waiting for a recovery, this is a time to step forward and help make it happen.

2008-12-03T12:03:00.001-08:00

“It’s the visionaries that are searching and hiring right now, those companies who are able to take advantage of the top talent that is available right now like never before.”

“I am seeing this in both big and small companies, public and even more so private companies who still have access to capital, willing to reduce today’s profits to have an explosive payout when the economy turns around, AND even take advantage of market share opportunities in this economy.”

Stan Taylor, CSAM
Management Recruiters of Vancouver.

What Recruiting Will Look Like After the Recession

2008-11-07T08:24:00.000-08:00

by Kevin WheelerNov 6, 2008, 6:00 am ET

This is a strange recession.

It is not affecting employment across the board as many of the past ones have, but rather seems to be targeting specific sectors and types of work. Obviously banking and financial services, but also manufacturing and anyone in a semi-skilled job such as auto workers are especially affected. Needs are pocketed and specific. Talent shortages remain.

Yet, I have had calls from search firms looking for key sales and marketing people, and for R&D talent. Senior HR executives are in demand, especially if they have global experience. Sectors still largely unscathed by the recession – healthcare, gaming, entertainment, pharmaceuticals, and biotech – are still facing talent shortages and global competition.

The growth of global supply chains, increasing automation, and greater process efficiency means we can do more with fewer. New jobs are being created daily, but they all require education and skill beyond that of many current candidates.

This, combined with the different attitudes candidates and employees have about work and about how they live their lives, changes how we recruit and employ people.

The highly skilled, experienced, and educated will have an increasing edge in employment. And this recession should be a clarion call for an increased focus on education, training, and employment development. Everyone involved with talent will need to look at both development and acquisition as channels to meet their needs, rather than focus entirely on recruiting.
There are a number of permanent changes we will see.

Candidates Become Smarter, Warier

The first change is that many candidates will be reluctant to work under the same conditions as usual. Candidates have access to unparalleled information about a prospective employer through the Internet and its many sources. Reliance on a single firm for security has already eroded, and this recession will strengthen employees’ wariness about promises and deferred compensation. More top employees will seek employment contracts that include clauses that spell out layoff pay and benefits.

Candidates will probe positions more deeply and they will want more influence over the type of work they do. Prepare for candidates to negotiate what they will and won’t do.

Free Agency

Recessions have, in the past, increased the pool of people who decide to become free agents – contractors, consultants, and part-time workers. More people than ever are trying out life as independent workers. Many will not make it and return to the corporate fold, but they will be wiser and better prepared to abandon ship than they were before.

Many others will find they would rather work on their own than go back under the very insecure and fragile corporate umbrella. Companies will have to identify and take care of their key producers better than ever. While many firms do work hard to keep key talent, they will have to increase this effort and explore more creative ways to engage those people.

Charles Handy, a management writer and educator who has written numerous books on the organizations of the future, predicted that up to half of some company’s talent may eventually work as free agent, contracting to those firms as temporary staff, contractors, or part-timers. This will be a lasting change that is accelerated because of the recession.

Recruiters and HR staff will have to accommodate these free agents. Our internal regulations will have to be modified to make the use of contractors legal and compliant with IRS regulations and it may be necessary to lease employees, employ more employment contracts, and learn to share talent between organizations.

These changes will be fought by the legal department and more HR leaders, yet I believe companies will eventually have to embrace these ideas to be competitive.

Values Rule

Gen Y candidates, in particular, but all employees to a growing degree, are seeking companies that hold values high and make and keep commitments to their employees and their families. They seek environmentally sensitive, charitable, and ethical firms.

Gen Y is the tip of a spear followed by the even more morally and environmentally committed Gen M. They will have even higher expectations than the Baby Boomers ever did. While shareholder value will always be a core concern of the management team, they will also have to understand how important employees feel that values are and how close a scrutiny they will give every corporate action and statement.

Recruiters have to understand the values of the firms they work for and find better ways to match people to those values. They will have to also convince the management of firms that what they DO is just as important as what they say and that this emerging candidate pool focuses on actions almost entirely.

Flexible Work Arrangements

Employees now want to work where they want. The Internet has made it possible for most services and knowledge workers to be located far away from the physical center of their company.

Designers, call-center staff, sales people, some HR folks, and most anyone who works with information, writing, or data can effectively work wherever they wish. Only a handful of people – those whose work requires their hands or eyes on the work being produced – will need to physically be present. Even jobs we cannot yet imagine being remote, such as that of a diagnostic physician, may soon be possible using instruments and video from anywhere.

Recruiters will need to encourage flexible work arrangements and lobby with hiring managers to make these arrangements normal.

Recruiting will be more challenging and those recruiters who like to “fill positions” will find themselves looking for other kinds of work. Recruiters will need to be proactive, great influences, technically savvy, and adaptable to emerging work trends.

Article printed from ERE.net: http://www.ere.net

PayScale’s 2008 Market Pricing Practice Survey

2008-10-30T10:58:00.000-07:00

Summary of results:
· Organization’s employment growth between 2007 and 2008 was not as bad as economic news might indicate. Only 23% of organizations reported downsizing their workforce between the period, while 45% of organizations reported increasing their size and 32% remained unchanged.
The average decline rate was 15% of the total workforce. Organizations employing less than 100 full time employees declining by 22% while organizations employing more than 100 full time employees reported declining by just 11%.
Industries that experienced employment growth were Telecommunications, Pharmaceuticals, Banking, Staffing/Recruiting and Human Resource Consulting, Healthcare and Technology/Computers/Software. Industries that declined were Real Estate, Hospitality, Mortgage Financing, Wholesale, Insurance and Construction.
· Only 11.6% of organizations reported that their compensation data budgets declined from 2007 to 2008, while 48.5% reported that their budget had increased. Additionally, 48.7% of organizations reported that they expected their 2009 budgets to increase, while only 9.7% believed that their budgets would decrease in 2009.

· While 2007 industry forecasts indicated that employee retention would be the top HR priority of 2008, only 28.2% of organizations reported retention as their top concern. 26.3% of organizations reported that retention was only one of many concerns and almost half of all respondents, 47.5%, indicated that retention was only a minor concern or not at all.
Interestingly, organizations were split between whether employee retention would be an issue in 2009, with 52.5% of respondents indicating that they thought it would be, and only 47.5% thinking that it would not.
The top three reasons that HR professionals reported employees leaving a job were personal reasons, 41.4%, poor performance, 41.1%, and seeking advancement opportunities elsewhere,34.6%.
· Employee retirement does not appear to be affecting many employer’s recruiting or retention efforts. Only 15.5% of organizations reported that retirement affected their 2008 staffing efforts and only 21% believe that it will be a factor in 2009.

· When it comes to structuring compensation, it appears that organizations broadly fall into two buckets: ad hoc programs to meet objectives and formal structures. 65.8% of organizations use Salary Ranges to structure their pay while 26.5% set pay on a case-by-case basis. Only 7.7% of organizations reported setting pay using broad bands.
Half of all organizations, 49.5%, adjust their pay structures as needed, while 44% of organizations set their pay every year. Only 7.7% of organizations reported adjusting their pay structures every other year. Of the organizations that structured their pay as needed, only 40% reported doing a benchmarking project in 2007. 62.6% of organizations conduct focal point reviews at a specific time each year, while the remaining 37.4% adjusted compensation on the employee’s anniversary.
· Types of bonuses used vary significantly across organizations. 72.1% of organizations offer incentive bonuses, but only 29% of those organizations offer bonuses across the board. 59.8% of organizations reported using spot bonuses, 27.3% hiring bonuses, 17.5% retention and 67.1 target incentives.

Survey Results:

How has your workforce changed in size in 2008?
Increased – 45%
Decreased – 23%
Remained the same – 32%

By Organization Size: Increased Decreased Remained the Same
<100>1,500 Employees: 49% 21% 29%

By Industry: Increased Decreased Remained the Same
Telecommunications: 65% 25% 10%
Pharmaceuticals: 63% 25% 13%
Staffing/Recruiting: 62% 23% 15%
Human Resource Consulting: 57% 14% 29%
Banking: 54% 21% 25%
Healthcare: 54% 10% 36%
Retail: 48% 15% 38%
Finance: 47% 26% 26%
Technology: 44% 33% 22%
Manufacturing: 42% 24% 33%
Government: 41% 14% 45%
Construction: 36% 43% 21%
Insurance: 34% 34% 31%
Wholesale: 33% 24% 43%
Hospitality: 13% 19% 69%
Real Estate: 7% 57% 36%

Total 45% 23% 32%

How big a concern has retention been to your organization in 2008?
Not at all/somewhat – 47.5%
One of many concerns – 26.3%
Top concern – 28.2%

Do you believe that retention will be a major issue in 2009?
Yes – 52.5%
No – 47.5%

What are the top three reasons people leave your organization in 2008?
Personal reasons (family, relocation, work/life balance) 41.4%
Poor performance (organization initiated) – 41.1%
Seeking advancement opportunities elsewhere – 34.6%

PayScale, Inc. - (886) 699-0709 www.payscale.com

Note from Boss Saved 50 Years: Little Things Do Matter

2008-04-11T08:53:00.000-07:00

It's amazing how the little things mean so much, stan.

By Elaine Quayle, BLR Editor
Just MY E-pinion

We may think that small tokens of appreciation don't matter to workers, but here's the story of a boss's congratulatory letter that was treasured for 50 years.

My mother put only her most valuable things in her white leather jewelry box. And since her jewelry collection was meager, she used the drawer in the box to hold pictures, newspaper clippings, and other important memorabilia.

After she died, as I was going through the drawer, I came across an ecru vellum envelope with my father's name handwritten in script across the front. When I took the letter out, the first thing I noticed was the indentations made in the translucent paper by the punctuation marks, hit hard by the keys of a typewriter. Then I noticed the dark blue embossing on the top: William S. Simpson, General Manager, Raybestos Division, Raybestos-Manhattan. It was a letter from my father's employer that my mother had kept for more than 50 years!

This letter came to mind when I was editing BLR's update of the Encyclopedia of Prewritten Personnel Letters (see below for info), which includes sample letters of congratulations. And that is exactly what this letter was.

Dear George:
Congratulations on winning the Men's Industrial Horseshoe Championship. Raybestos is proud of the record set by our team and hopes that you enjoyed being a part of this activity. In recognition of your victory, we have arranged to give you an award, which we trust will serve as a reminder of your accomplishment.
Sincerely,
Bill Simpson (signed in ink)

It may have been the "Bill" that prompted my parents to save this letter; he was always referred to as "Mr. Simpson" out of respect for his position and the esteem the workers held him in. Or it may have been because the company was "proud" of my father's "accomplishment."

Raybestos-Manhattan in Stratford, Connecticut, was a "family-friendly" company long before the term was coined. My father, uncle, and several other relatives worked there making brake linings. I had seen Mr. Simpson several times at the annual children's Christmas Party, where there were goodies, clowns, and presents in a giant pile for a child to select from. And his face was on the monthly factory newsletter, along with the bowling scores, births, birthdays, and results of the safety incentive program. I had even spoken to Mr. Simpson when he attended the wake of my father, who was a 30-year employee.

I recently thought of this letter again when I read in our newsletter Best Practices in HR an interview with Judith M. Barwick, Ph.D., about what she has named the "Psychological Recession" in American's workplace, which is causing low productivity, employee apathy, and high turnover. "When people are perceived as a cost and not a resource, when they are treated as a liability and not an asset, when no one seems to know or care that they are there, [employees] don't work well, and they don't stay," says Barwick.

This statement made me wonder if, in our current workplace culture, a worker would have anything meaningful from an employer (and I don't think a printout of a generic email would count) to save in a jewelry box for 50 years. Would your employees? Are your employees a part of the psychological recession, or are they made to feel, like my father was, that they are important to the company no matter what their job?

Positioning the Strategic Role of Recruiters in Volatile Economic Times

2008-02-13T07:34:00.000-08:00

Is your organization marching down the wrong path?

Monday, February 11, 2008 by Dr. John Sullivan
by Dr. John Sullivan and Master Burnett

The U.S. economy is like a sprinter trying his best to run a long-distance race. It takes off at full speed until it burns up its resources and has to slow down while it recovers, only to take off again shortly thereafter. Time and time again, companies in the U.S. have weathered periods of economic expansion and contraction, but for the first time in recent history (since the Romans ruled civilization), the circumstances are a little different. The conditions are so different, in fact, that the recruiting profession may avoid being decimated this time around.

While many economists agree that the U.S. will likely avoid a recession despite the collapse of the housing market (which is leading to widespread layoffs in construction, mortgage financing, and supporting industries), macroeconomic growth rates are going to be much lower than we have become accustomed to, but they will still be positive.

In January, layoffs by U.S. employers surged 69% to 74,986 according to Challenger, Gray, & Christmas. Despite that gloomy news, more than 58,000 of those cut from their organizations found other employment by the month's end, resulting in a net increase among the jobless of just 17,000. These numbers are pretty good when you consider that natural attrition associated with the aging workforce should already be leading to a significant reduction in the available labor pool. But, the housing crisis isn't over. Some say we have only experienced the tip of the iceberg, so the volume and size of layoff announcements are likely to grow in coming months.

So what's the good news? From a recruiting perspective, this period of economic contraction is different than ones we previously endured for a number of reasons, including:

· The Weak Dollar. While many Americans bemoan the dollar's current value, its relative weakness is doing something very important for the U.S. economy: It is making goods and services produced in the U.S. more affordable to consumers in other nations, which is bringing money back to the United States. This trend is contributing to a growing number of U.S. companies achieving record revenue growth based primary on sales in Europe, Asia, and Latin America. Whirlpool, for instance, reported record results despite a dramatic decline in demand among U.S. consumers. Sales in Europe were up 12%, Latin America 30%, and Asia 26%. Growth abroad creates new jobs here as corporate functions grow to support operations.

· The Aging Workforce. We know this topic has been beaten to death, but 2008 is only the first year of the projected contraction in the U.S. labor force. It's possible that we talked about it too much before it actually got here, leading people to believe it was a non-issue because they were not feeling the pain. While it is likely that older workers will remain in the workforce longer due to a decline in the value of their retirement funds, not every older worker will have that as an option as medical conditions, skill obsolescence, and declines in physical capability play out.

· Reduced Product Development Life Cycles. Product life cycles are not often talked about in recruiting, but they should be. Over the course of the last decade, advancements in technology and growing competition from abroad have forced product development life cycles (the time required to take a product from conception through delivery) to become significantly shorter. Cell phones, which once took 18-36 months to develop, today start flying off store shelves in as little as 90 days. It's all about innovation. In the last decade, brands kept customers loyal and, before that, it was proximity to customer and customer service. But today, keeping customers loyal requires innovation and price control. Rapid innovation requires talent capable of producing it, and with life cycles as compressed as they are, it requires a constant stream of such talent.

· Global Competition. Would you travel to India for surgery, or would you carry a credit card issued by a financial institution in Indonesia? More and more U.S. consumers are. Nearly every industry in the U.S. is facing competition from a foreign competitor, if not for customers then for material resources. It used to be that the U.S. could win every battle simply because the dollar was so strong, but that isn't true anymore. Foreign upstarts that U.S. companies once outsourced to are now leveraging their store of U.S. dollars and starting to compete head to head with these companies they once serviced. It is a phenomenon happening around the world.

· Global Labor Demographics. When HR practitioners in the U.S. think about the aging workforce, they think about the U.S., but they should be thinking much larger. With the exception of South America and a handful of small countries elsewhere, the aging of the Baby Boom generation is a global phenomenon. Japan, China, India, Germany, and Italy are all in much worse shape than the U.S. This fact will drive the value of available labor up in these nations, further reducing the economic viability of outsourcing provided by wage labor arbitrage.
The long and short of the story is that your organization will continue to need a significant influx of talent despite a contraction in the U.S. economy.

It's All about Capability and Capacity

To survive, grow, and best the competition, organizations need to have both the capability to produce innovative products at a price point consumers will accept and the capacity to produce enough units at the right time in the right place. While capacity is a function involving talent, equipment, and material resources, capability is almost entirely derived from talent. When it comes down to manipulating the capability of an organization, corporate leaders have but two options: either build capability by training and developing talent or acquire talent through recruiting, be it for employees, consultants, contractors, strategic partnerships, or outsourcing agreements.

For most corporate leaders, the desired option is clear: Both CEOs and CFOs have ranked their organizations' ability to recruit top talent among their top concerns for a number of years. Despite the growing visibility of their unhappiness with their organizations' capability in this area, a number of HR leaders continue to adopt development over recruitment as a method to mitigate the potential impact of the aging workforce.

This critical "make" versus "buy" decision is one that organizations make without nearly enough insight. Skill sets and employees, for that matter, face obsolescence just like any other resource that organizations consume to produce goods and services. It's kind of harsh to think of it that way, but organizations often keep obsolete talent around for way too long.

When making the critical decision about how to manage the capability and capacity of the organization to achieve its objectives, organizations really need to answer the following questions:

Realistically, what percentage of the workforce will need to be replaced in the coming years either due to attrition, natural obsolescence, or business change?
What percentage of headcount growth will be needed to fuel growth initiatives?
Historically, what has been the cycle time associated with developing talent into the roles that will most likely be vacant?
What percentage of talent developed fails post-attainment of the role?
What percentage of talent developed separates from the organization prior to attainment of the role?
Does a significant supply of talent exist inside the organization that can be developed into the role by the projected time needed, accounting for failure rate and turnover?
What would be the cost associated with the development initiative compared to that of an acquisition initiative?
What would be the cost of an extended vacancy in a key role should either initiative fail?

In some cases, development makes sense, but in the vast majority of cases related to professional talent, the economics involved point to talent acquisition as the more viable option.

It's All About Who You Are As a Company

For organizations that depend upon operational efficiencies to maintain small profit margins, such as computer component manufacturers and grocery stores, pursuing a "promote from within" strategy makes sense. There is a lot of operational knowledge that needs to be imparted from generation to generation in order to drive sustainability. But for organizations that depend upon innovation and have extremely compressed product development life cycles, "promote from within" strategies can be disastrous if they permeate the organization. The sole reason stems from a famous quote that basically says organizations that focus solely on building leaders within the organization will never know what they don't know. It's a lesson that Shell Oil had to learn the hard way, and one that UPS is probably learning now.

Step Up and Reposition Recruiting as the Strategic Activity It Is

The economic points are clear: The skies are going to be partly cloudy with areas of sunshine. Organizations need to become more adept at routinely releasing obsolete talent and replacing it either through recruiting or development, whichever makes the most economic sense. But, the decision must be made based on data and not on personal interests or beliefs. Recruiters need to step up; understand the business strategy; figure out the impact of top talent, average talent, poor talent, and no talent; and advise corporate leaders where talent opportunities exist. No one understands the labor market better than recruiters; unfortunately, way too many accept the transactional part of their job as the job. To "build" versus "buy" is a decision that could make all the difference in an organization, but it is one that too few organizations ever research. Since no one else is doing it, step up and preserve your job. No one else will!

Dr. John Sullivan (JohnS@sfsu.edu) is a well-known thought leader in HR. He is a frequent speaker and advisor to Fortune 500 and Silicon Valley firms. Formerly the chief talent officer for Agilent Technologies (the 43,000-employee HP spin-off), he is now a professor of management at San Francisco State University. He was called the "Michael Jordan of Hiring" by Fast Company magazine. More recruiting articles by Dr. Sullivan can be found in the ER Daily archives. Information about his numerous other articles, books and manuals about recruiting and HR can be found at www.drjohnsullivan.com. Dr. Sullivan is also the editor of VP of HR, an e-newsletter providing "out of the box" solutions for senior HR managers. Free subscriptions can be obtained on his website.

The Power of Stories for Employment Branding and Referrals

2008-01-17T09:34:00.000-08:00

It's time to build a corporate story inventory
Monday, January 14, 2008 by Dr. John Sullivan
Few people would disagree with the premise that stories are powerful mechanisms for selling ideas and concepts. In fact, there have been books written about how stories can help build and maintain corporate cultures. But, what most recruiters don't know is that stories can and should play a prominent role in building a firm's employment brand and in improving the effectiveness of the employee-referral program. No recruiting ad, brochure, website, or recruiter pitch can have the same power and effectiveness as current employees telling powerful stories about what it's like to work at their firms.
Google: the Master Story Creator
Certainly, no firm has mastered the use of stories for building its culture, for recruiting, and for building its employment-brand image better than Google has. In fact, as a result of its efforts to continually create new stories about its people-management practices, Google has become the most talked about firm in the history of the world, which is an amazing feat in a handful of years. Its "story-a-day" strategy of providing every employee with an exciting story to share is a model for everyone to emulate. It has made it the number one employment brand in the world. Unfortunately, most recruiting and branding managers under-appreciate the value of this and certainly under-utilize stories as recruiting tools.
If you want to take advantage of the power of stories, read on.
Why Stories are Powerful Sales Tools
Employee stories are powerful because they come from individuals who "live" the job. Because they come from people who have first-hand experience, the stories that they tell are just more credible and believable than anything a recruiter or PR specialist could possibly put together. Similar to someone telling you about his or her experience at a great restaurant, the resulting impact (whether positive or negative) is many times more powerful than any recruiting ad could be.
Other factors that make employee stories a powerful tool include:
· Since friends and colleagues can get close to potential applicants, there is little resistance to a story because the individual telling it is trusted and not a stranger.
· Because employees have various personal and electronic interactions 24/7, they have numerous opportunities to spread stories to many individuals like themselves, who are thus good recruiting targets.
· Since individual conversations can last longer, it's possible to deliver detailed stories and much more in-depth information than is possible in a recruitment ad.
· Face-to-face interactions and some electronic communications allow the target of the story to interact with the storyteller and to ask questions. Make the story personalized and add whatever details the receiver has an interest in.
· Because stories don't sound like sales pitches, there is less initial resistance to hearing them.
· Stories are almost always interesting or entertaining, so they are more easily remembered and passed on to others.
· In certain situations like at restaurants, in bars, at sporting events, and at social and family functions, everyone tells stories. This provides an opportunity to share something that might, in other situations or in other forms, be resisted.
· Employees hearing and passing on compelling stories serves to reinforce their decisions to join and stay at their current firms. Family and friends positively reacting to their stories can also reinforce their desire to stay.
· Hearing a good number of stories can increase their pride in the firm and the motivation to be productive.
Make Stories Available to Employees and Managers Through a Story Inventory
Stories only add value if they are spread to others. Most companies have no book or central depository that contains a list of all the firm's stories about their people and management practices. Instead, they have to be sought out and put into an inventory that can be used to support the recruiting and branding efforts. Employees need access to powerful stories about the firm in order to use them in attracting potential referral candidates. Managers need to be aware of powerful stories for use in speeches, to respond to reporters' inquiries, and as sales tools for closing finalists for their open positions. The best way to make the stories available is through a corporate or business unit "story inventory."
A people program and story inventory provides the basic ammunition the company can use for building its brand and image both internally and externally. It's not enough to have a large number of programs and stories. The stories themselves must be in areas (benefits, rewards, learning, or community related, etc.) to be considered important by your target audiences. In addition, these stories and programs must have some glamour factor, which makes them exciting enough to be talked about by your employees, the media, and others in your industry. When you finish building your program and story inventory, it becomes the basis for your internal and external branding and referral efforts. A story inventory is no more than an internal website (or, in some cases, an Excel spreadsheet) that collects and then categorizes stories, best practices, exciting people-management programs, awards for use in employment branding, "best place to work" applications, employer referrals, and recruiting.
Stories and exciting people-management programs can be identified through a variety of methods. PR, the head of employment branding, and HR generalists are usually the ones charged with seeking out powerful stories. The stories are then categorized by type, location, and function or business unit involved. Stories are assessed and weighted based on their relative power. In addition to direct access, stories can be proactively spread by including them in newsletters, executive speeches, management meetings, and as part of employee-referral program materials.
After formally compiling its story inventory, one well-known coffee retailer found that instead of having 65 compelling stories, it had over 360 for use in branding activities. The fact is that by not having a formalized effort to gather and distribute stories, you are limiting your ability to recruit and brand by letting 75% of your stories remain in limited distribution.
How to Identify Stories Within the Organization?
The search for best management practices, programs, and stories can take a variety of paths. I find that the best way to begin the search process is with a complete list of the possible information gathering approaches and then narrow them down, based on your time and budget constraints. Next, do a quick sample of each approach and assess whether that approach is producing useful results. Continue the information gathering for awhile and then, after comparing results, narrow down the list even further and focus on the approaches that have the most success in identifying stories.
Before You Start Gathering Stories, Anticipate Some Reluctance to Cooperate
It's important to recognize that the culture of the organization helps determine what approach to gathering stories is most effective. In a centrally-organized firm, it is very likely that the corporate offices are already aware of the best stories, programs, and practices. However, in a good number of organizations, headquarters is kept in the dark because individuals outside headquarters are extremely reluctant to share best practices. Why? Because most managers have a well deserved fear that if corporate found out about a local practice, it would make them stop. In these all-too-frequent cases, you probably need a one-on-one visit with the local managers in order to get them to share. It is important to identify these informal programs and the related stories because, oftentimes, they are the most creative and innovative.
Another problem is that in some organizations, there is a great reluctance to brag. And, you certainly can't find or spread great stories without the willingness to brag. In these cases, an announcement by the CEO that he or she supports and sponsors a story-gathering initiative is an absolute requirement. Finally, some cultures hate surveys and meetings of any kind, so they require individual interviews and phone calls to gather stories.
17 Steps to Make Your Branding Stories As Powerful as Possible
When you're speaking to reporters, you want to make your examples and stories as powerful as possible. The same is true when you're writing an article, preparing a "best place" list application, or giving a speech. I have researched this issue for many years and, as a result, I have identified 17 factors that you can add to any story to make it more powerful. Or in some cases, it turns an average story into what I call a "wow" story.
Once you have identified a simple story, conduct more research, then add to the story any of the following factors to make it stronger and more compelling. Remember, stories with numbers and comparison figures are the best and individual testimonials about one-time incidents that use just words have the least impact.
1.Comparison with Industry Average/Best in the Industry. Compare and show how "yours" is superior to "theirs" using a side-by-side basis. The use of direct comparison percentages or numbers makes for an even better story. Being first in your industry or region to offer a program is also an excellent story builder.
2.Comparison with Last Year's Goals. Show how you have dramatically improved your numbers from last year (or any period).
3.Quantifying Program Results. Using statistics to demonstrate the business impacts of a program is helpful. Using dollars as well as numbers to describe program outputs makes any story stronger.
4.Defining What Is a Good and Bad Number. By including inside the story a description of a good/high number and a bad/low number, you can make a good story better and make any number more meaningful.
5.Awards Received. Programs or events that were recognized with an outside award or commendation are superior. Internal awards are less powerful, but still helpful.
6.Degree of Participation. Just having a program isn't compelling if no one participates in it. Showing the estimated percentage of workers that participate in or actually use a program helps make the message stronger.
7.Stories Involving Ordinary People. Stories that focus on the success of the "little guy" (low-level employee) impress most people. Showing how the little guy matters and that he received some attention or benefit from a program is always good.
8.Stories Involving Diverse People. Stories that focus on the success of diverse employees are very powerful. Showing high-participation levels by diverse individuals or the inclusion of diverse individuals at higher-organizational levels is a great addition to any story.
9.Demonstrating the Amount Spent or the Program Costs. Showing either the large amount spent per employee or a large percentage of all total expenditures for the program tells the reader right away you think this is important.
10. A Great Program Name. Often, just having a program with a great name can make an informal event into something credible. A cool or catchy name for any program makes it even better.
11. Concern for the Environment. Demonstrating that we show a deep concern for environmental issues in a story or program helps us gain points. Programs that protect or support green issues are very important. Individual environmental and community work can also add value.
12. Compelling Quotes. A good story becomes a better one with a short quote that one might remember and repeat. Quotes from average people about their jobs and experiences are great. Notable quotes from CEOs aimed at commitment also add value to any story. Quotes from major publications add significant value. Customer quotes can also be compelling.
13. Testimonials from Individuals. Short testimonials from individuals outlining their passion for the firm or program are powerful. Testimonials about their treatment or experiences provide added value. Video testimonials on the website can also, on occasion, be powerful.
14. Add a Video Clip (If it's a Website Story). Sometimes, words aren't enough. Short video clips (3-5 minutes) can be included on the corporate website (or, in the case of "best place to work" applications, in supplemental materials).
15. Add a Picture. A picture that raises emotions can be a valuable addition to a story, application, or website. Test it first to see if the picture actually does add real value.
16. Add a "Wow." A "wow" is a short story element (1-2 paragraphs in length) that, when told, is so powerful that the person literally responds with a verbal sound (i.e., "Wow"). Most "wow" stories are passed on to others verbally or in e-mails.
17. Add a Web Link. Add a web link to a written story or award application so the reader can easily find more detailed follow-up information.
What Kinds of Stories Have the Most Impact on Recruiting and Brand Building?
They are many categories of stories that can have positive recruiting and branding impacts. And, there are other categories of stories that can help build the firm's image and its referral success rate. They include stories that illustrate:
· How employees are free to innovate and experiment.
· How employees are involved in decision-making.
· How managers listen to their employees.
· How performance is recognized and rewarded.
· Opportunities when the little guy can jump job levels or be offered extraordinary opportunities.
· Job security.
· Strong ethics or corporate values.
· Flexibility and work-life balance.
· That employees have a chance to make a difference or change the world.
· Learning and development opportunities.
· That employees share in the company's success.
· The firm's concern for the environment.
· Teamwork is encouraged.
Examples from Google
In the case of Google, the company has utilized almost every story category to build a culture, attract recruits, and develop its employment brand image. Some of its programs and activities might on the surface seem outrageous, but you have to admit that they have resulted in compelling stories that have been widely spread and repeated in the media by employees and over the Internet.
Here are a few examples of Google's practices that have helped build its employment brand:
· Demonstrating It's Different. Doing things that would never be allowed at most organizations sends a clear message that working at that firm would certainly be different than at almost any other firm. You can search the Internet and easily find stories about Google's Pajama Day, valet parking, on-site massage and laundromat, Movie Day, and on-site concerts. Of course it doesn't hold Pajama Day every day, but the fact that it could never happen at your firm in a million years says it all.
· Demonstrating Its Trust in Employees. Once again, it's easy to find stories about Google's trust in its employees. In addition to the 20% free time, there are stories about executives celebrating million-dollar failures, not tracking sick time, and allowing employees to work remotely. Google has provided real examples that it lives its values.
· Showing It's a Fun Place. Almost all firms use the term "work-life balance," but stories about how no employee should be more than 200 feet away from free snacks, a martini blow-out, free meals all day, and allowing dogs on-campus illustrate that it's a fun place better than any website bullet-point could.
Final Thoughts
The business world generally focuses on "hard" things. But, in direct contrast, stories work because they are "soft" and interesting. Stories are powerful because they highlight real events and incidents that the average worker can relate to. Unlike most of the corporate information that is provided to employees (which is often considered to be propaganda), employees are more than willing to listen to and spread compelling stories that illustrate some of the positive things that their corporations do for them. Although gathering and spreading stories isn't always on the radar of the heads of recruiting and employment branding, it should be.

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The Power of Stories for Employment Branding and Referrals