Interestingly enough, Accountants One is swamped on the Direct Hire side. In fact, within the past months we’ve been part of two of biggest deals of our 36 year history. What is happening is that companies who are able to afford a very specific upper-level search are taking advantage of this economy.
We have found that companies are still valuing talent; however, they are not willing to hire unless they are certain of the fit from both the technical and corporate culture standpoint. This has slowed the process somewhat, but people are still hiring. In fact, last week I was honored to talk with Duffie Dixon from Channel 11 News regarding this trend. click here to view.
Unfortunately, companies are not utilizing the contract and staffing resources that this market provides. We’ve seen our pool of contractors decrease to roughly 70% of our usual volume. Many companies are holding off or canceling projects and absorbing any extra work that would usually be taken on by a temporary.
While I have no idea how long companies can hold out, at some point they will need employees to absorb the work from those who have made it through the rash of lay-offs. If history holds true, that means that companies will take advantage of the flexible workforce that is offered through contractors. Further, if history holds true, staffing on both the Accountants One Contract side and the WATERS Organization’s Office Professional side will act as a leading economic indicator.
I remember coming out of the economic dip in 2001 – we saw steady increases in the need for Contract staff. Within a few months we saw these numbers reflected in the stock market and then the overall economy. Let’s cross our fingers and hope that we’ll see this trend sooner than later.