Economic News and Job Openings for the JMO

Economic news continues to point to a recovery from the recession.  Last week, the US Bureau of Labor Statistics said that the number of job openings in the US rose by 193,000, the second largest increase since March 2007 and is the highest since February 2009.  Quoted in USA Today, James O’Sullivan, chief economist at MF Global, said, “It certainly is consistent with other evidence that the labor market is turning.”   You can read the full article on the jobs report at http://www.usatoday.com/printedition/money/20100310/jobs10_st.art.htm?loc=interstitialskip

Additionally, US economic growth is expanding.  In 4th quarter 2008, the time when it seemed like the economic world was unraveling (US Gross Domestic Product (GDP), the measure of economic growth and output for our country) GDP declined by 6.3%.  The economy continued to decline 6.1% in 1st quarter 2009, .7% in 2nd quarter, and then a shift back to growth, expanding 2.2% in the 3rd quarter 2009 and then a significant increase of 5.7% in 4th quarter 2009.  It is generally predicted that the economy will grow at slightly above 2% the remainder of this year.  That’s not “lighting the world on fire,” but it is growth, and a far cry from 6% decreases.

Unemployment hovered around 10% at the end of 2009, and at the start of the year, economists predicted that it would continue to increase.  Generally, the unemployment rate is a lagging indicator of economic recovery, so this estimate made sense based on history.  However, the unemployment rate has since dropped to 9.7%.  This is still a high number, though heading in the right direction.

The final statistic I want to share with you is that there are 5.4 applicants per job opening, which is an improvement from the previous figure of 6.1 applicants per job opening in September 2009.

I share these macro-economic statistics with you to highlight that the overall economy is improving though unemployment is still high and very competitive nationally for each opening (5.4 applicants per opening).  What we are experiencing at Cameron-Brooks is significantly different.  Some recent statistics to compare with the macro ones I just shared include – our candidates have averaged 9 to 10 interviews at the last several Career Conferences, there are an average of 2 openings per candidate at the conferences and we still cannot meet all of the needs of our clients, and every one of the candidates has headed into the follow-up process with companies having further interest in follow-up interviews.  The quality of the companies and positions has not changed.  Leading companies such as ExxonMobil, Johnson & Johnson, General Mills, Abbott and more have attended Conferences.  Positions have included Program Managemer, Process Improvement Manager, Project Controls Lead, Senior Financial Analyst, Total Productive Maintenance Team Lead, Project Engineer, Procurement Manager, Manufacturing Team Lead, Clinical Account Specialist, Territory Manager and more.

Why are the Cameron-Brooks statistics different than the national averages?

1. Cameron-Brooks clients consider us a strategic source for recruiting.  This means even in a downturn and tight labor market, our clients prioritize recruiting Cameron-Brooks JMOs.  Our clients think strategically and long term, and know they will need talented leaders for the future.  As a result, they keep the Cameron-Brooks pipeline open.  They do have high standards and want top performers well prepared for the transition.
2. Our clients still have a leadership challenge.  It is expected that 30 million “Baby Boomers” will retire in the next several years.  I hear our clients describing 10 year succession plans to get the current leaders ready to assume key leadership roles in the company.  As a recent FORTUNE Magazine article regarding JMOs as the future business leaders highlights, it’s much easier to hire leaders and teach them the business.  http://money.cnn.com/2010/03/04/news/companies/military_business_leaders.fortune/
3. Cameron-Brooks clients are careful about who they hire.  Hiring mistakes are always painful and so much more in these days.  Our clients value the Cameron-Brooks progress where we rigorously screen candidates looking for those who have both the ability and desire to be future leaders in corporate America.  They appreciate the fact that Cameron-Brooks candidates read numerous books and conduct several exercises preparing for a new career.  This attracts industry -leading companies who know they can count on Cameron-Brooks for candidates to fill critical positions.
4. Companies are concerned with productivity.  One of the reasons why the unemployment rate will stay high for the foreseeable future is that companies will hire 1 person to cover 2 open positions or 2 people for 3 open positions.  When a company looks for a candidate with this high potential, they think of the JMO who has repeatedly done this in the military.

With 5.4 applicants nationally per opening, companies are selective.  This requires a strategy and preparation plan to succeed in the transition process.  Our team is very experienced and we know how to partner with high potential JMO candidates to help them develop the right strategy and preparation plan for success.  Our experience includes Roger Cameron, 44+ years of JMO recruiting experience, Rene Brooks, 39 years of JMO experience, Mary Lou White, 33 years, Chuck Alvarez, 15 years, Steve Sosland, 13 years, myself, 10 years, and Scott LePage, 4 years. We incorporate our accumulated knowledge into our Development and Preparation Program^© that cannot be duplicated without our experience.

 Joel Junker