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NEWS AND VIEWS

Clarity.

At McClellan Tesar Reynes we are dedicated to keeping you informed, such as market conditions, events and from time to time, we'll give you our point of view about the world around us.
 

“A Year to Forget — What Do Think?”
Commentary by Chuck McClellan

We are so ready to say good riddance to 2009 and look forward to a more promising new year. We are often asked what trends we see going on out there in the marketplace.  Here is a distillation of what we are hearing from clients in recent months:

The Economy

• The worst is over

• Probable slight improvement in the 4^th quarter

• Conservation of positive cash flow is crucial; expenses are micromanaged

• Expectation for slow gradual improvement throughout 2010

• There is a reluctance to commit spending beyond the next quarter
   

Industry Trends

• Continue to do the same with less

• Constant heavy pressure on margins

• Client reluctance to completely forsake investment in network TV

• Social media gains more traction, but there are many who still have their doubts

• Green and innovation training are the hot new categories

• A nagging thought: what is our new consumer going to be and how will it affect our business models?
   

The Workplace

• A number of good people are unable to relocate because this is still not a good time to sell

• Many qualified unemployed are leaving their past and have gone into new industries

• Great reluctance to leave a current firm even if people there are unhappy

• Twitter, Craig’s List and Monster are now generating leads of mixed quality

• Interns continue to work for minimum wages

• Salary cut-backs/freezes seem to remain in place until next year
   

Hiring

• In general, companies want to refill many of the slots they have cut, margins permitting. There is great thought being given to the changes in the specs of these jobs and the requirements needed. We have been fortunate enough to help some of our clients in this planning. Bottom line, many are new jobs requiring new types of people.

• As in past recessions, the really good people who are idle will be hired fast and the mediocre will still be out there looking; further, many people go into new industries when their old one has no openings. Unlike past recessions, the really good people, even though they are overworked and underpaid, will be reluctant to give up the security of their current job and look at new opportunities.

• We sense there will be a growing shortage of talent across the board. Money is not necessarily the answer. We are seeing other inducements being discussed.

• HR has not been immune to staff cuts. As a result, many departments are so overwhelmed and understaffed that qualified resumes may be overlooked.
   

Agree disagree?  Looking ahead, we would like to discuss what you see for next year and hear your comments.