Preparing for the Storm
A recent study has shown that just 36% of CEO members of the business roundtable plan to add workers over the next six months, which is down 6% from 42% when the same survey was taken three months ago. Obviously, this is NOT good news if you are one of the many Americans who find themselves unemployed at the moment.
Jim McNerney, the group’s chairman and CEO of The Boeing Co. tried to explain this dip in confidence by saying that there is “concern over increasingly persistent obstacles to a stronger recovery.” Mr. McNerney was talking about uncertainty over future tax increases and of course the financial crisis that is currently striking Europe.
However what is also a little discouraging is not only are CEOs cutting spending in human capital, but there was a 5% drop in CEOs who said they would plan on increasing spending on machinery, computers, and other large goods. These same CEOs all believe that sales will increase in the next six months.
After a rapid start to the economy this year, job growth slowed to an average of 73,000 between April and May after an average of 226,000/month between January and March. The unemployment rate, which many believed might dip below 8% actually rose to 8.2% in the month of May. We can expect the trend to continue downward as companies are fearful for the end of the year taxes that may be imposed on them. President Barack Obama has said that he hopes to delay the onset of the changes, but McNerney and other CEOs are preparing for the changes now.
Companies are certainly holding back in all facets of the business, from human capital to assets. These same CEOs have also cut their forecast of growth in the US believing now the GDP growth to be closer to 2.1% rather than the previous forecast of 2.3%
These troubled times, where CEOs certainly don’t believe that the economy is good shape, it has to be hard for the unemployed to find themselves with any hope. Fortunately, there are many companies out there who are looking for nothing more than to help. For example, a Minnesota dry cleaner (see photo) has a sign posted that says if you need a suit washed for an interview, they’ll do it for free. Elite Cleaners in Minneapolis, MN has reportedly lost $32,000 with this campaign. The good will they’ve created however is likely to keep them in business for decades.
That same concern for their fellow man (and woman) is also a key element of what makes Crossroads Consulting the most unique employment agency and executive search firm in the world.
For 16+ years now, Crossroads Consulting has taken the job hunting experience from brutally painful and brought it into the realm of treating people like people. While Elite Cleaners is giving away clean suits, we’re helping you find those interviews to go on and we’re doing it with a smile and a hand up rather than treating you like a product on our “store shelves” so to speak.
Also, here at Crossroads Consulting, we cannot stress how important it is to have your resume up to par for what companies are looking for, and most efficiently displays your skills to potential employers. While just 36% of CEOs in that group plan on adding to the human capital of their workforce, we have an ever growing and changing database of current high-paying job openingsfrom sales, to accounting, to programming, and then some. We’re generalists and have placed everything from a dog groomer to a President of an international company. So if you’re a professional at any level, we want to see what we can do to help. Sometimes sadly there’s not much we can do more than offer a word of encouragement or advice and other times we may have an exact fit (or real close) and place you in a way to advance your career.
We want to see your resume as soon as possible, hopefully we can help you optimize it and get you the job that you’re currently looking for.
Remember, at Crossroads Consulting, our motto says it all… “We’re putting the ‘human’ back into ‘human resources.’