Monday, September 28, 2009

You don’t know what rough times are!

We have just completed 8 months in the most challenging year for this country since the 1930's according to our elected officials and the talking heads (and radio voices).

Now, I am fortunate to have both my parents alive approaching their 89th year on this earth and they were both teenagers during the “Great Depression “and they laugh at today’s comparison. I have always hated when my parents would say “you don’t know what rough times are” but after speaking with them and doing a little research (just a quick Google search) I noted the following.

· By 1932 unemployment had reached 23.6%, and it peaked in early 1933 at 25%, we are currently under 10%.

· By 1933 more than 5,000 banks had failed. In 2009 it looks to be about 70 added to the 16 in 2008.

· In 1933 hundreds of thousands of Americans found themselves homeless and they began congregating in the numerous Hoovervilles, basically tent cities. And my parents included the personal viewpoints of the food rationing, cardboard in the bottoms of shoes and ketchup sandwiches.

Heck, I lived with the gas rationing in the 70’s and as far as any teenager was concerned then, THAT was the end of the world! My 1st mortgage rate was 16.5 %

Suddenly I don’t feel so bad about today and we should feel better about our tomorrow.

Sean Sweeney, CPC | Team Leader

1300 Route 73, Suite 313
Mount Laurel, NJ 08054

856.505.6700 x12

Money in the bank

Inflation will likely be on our horizon within the next two years, most analysts believe, as a result of all the money the treasury is pumping into the economy.

I met a Remax top 10 broker/realtor for lunch last week (long time friend) and she recalled entering the industry in 1980 when mortgage rates were 20%!

So... with interest rates at a very low current rate, now is the time to prepare yourself for what could happen a few years from now. -- Interest rates will rise!

Of the two million jobs lost since January 2008, only about 2/3 will return by 2013.

Starting salaries for new college grads averaged $48,633. – That’s $40k more than I received, albeit quite a few years ago. J

What is interesting, perhaps, is that I was able to buy my first house 2 years later!

7 out of 10 employees do not believe there is a clear relationship between their pay and their job performance.

Thus... job satisfaction is dropping while job-hunting activity even for those who are quite satisfied with their jobs is increasing.

Harvey Dorland

Pacific Recruiting

936-597-6500 - direct

Monday, September 14, 2009

Money in the bank

401K’s might not be what they used to be.
Quite a few employers have stopped matching, and fees that are being charged by the administrators are frequently more than they should be (there’s no cap on how much many of these plans can take off the top in fees).

Your asset might be returning you 4%, but an expensive asset manager may take 2%.

Also, watch out for target date funds.

Their allocation mix is supposed to get more conservative as you get older, but they’re not all doing that.

Some 2010 ones lost 40% of their value last year because they were too heavily invested in stock.

Harvey Dorland

Pacific Recruiting

936-597-6500 - direct

Thursday, September 10, 2009

You may never know....

Is it OK to interview when I really do not know if an opportunity is right for me or if I am not sure if the timing is right?

Yes it is OK. How else can you determine without question if a position and a company are right for you? Of course, you should have some knowledge of the position and the company to reflect on before proceeding with any interview. Do your research and expect valuable, helpful information from your recruiter. Many successful professionals might agree that the best time to possibly interview is when there is no pressing need to make a job change. The reality is, opportunities that you may never hear about arise for various reasons; a retirement, a promotion, a new strategic initiative, etc. It makes good business sense to confidentially watch for that one great opportunity that may make a difference in your career.

Jeff Saeger, CPC
Saeger Search, LLC
St.Louis, MO

Tuesday, September 8, 2009

Money in the bank

Your credit (FICO) score is made up of timely payments (35%), what you owe versus your credit limits (30%), length of your credit history (15%), new credit/debt (10%), and what your mix of credit types are (10%).

800 is best score, and you need at least a 740 to get the best rates (mortgages, loans, credit card APR).

Jobless rate is now 9.4% (about 2.2 for insurance), and there seem to be hints that recession is ending.

The problem, however, seems to be that we could be in a stagnant economy for some time to come (consumers who account for 70% of our economic growth are still very wary about spending).

Harvey Dorland

Pacific Recruiting

936-597-6500 - direct

Tuesday, September 1, 2009

Times are tough, rest up!

Is the economy taking a hit on your paycheck? Your 401K? Your annual bonus or raise? Maybe it is time to kick back relax and let that stress go with a nice long vacation! Here is how!

Laura Hill
The Hill Group, L.P.

Fasten your seatbelts, the rides about to begin, again!

It seems like yesterday when I would hear the “old” guys talk about the last down cycle in hiring and when the turnaround came it was rather hectic since many recruiters had disappeared and companies needed their new hires immediately. Well, 20 years have passed by and I have seen a few down cycles, but I must admit this was the ultimate, stomach in your mouth, nosedive. Some of our biggest clients disappeared overnight and the doom and gloom was sent out over the airwaves on an hourly basis.

Well, thank goodness, that ride seems to be over and companies are taking a look at 2010 and saying “To achieve our goals we need to staff up immediately”. If your company is not one of them, what are you waiting for? The aggressive, flexible, forward thinking managers are already putting their plans in motion. As recruiters, we have to be prepared to identify, locate and evaluate the strongest candidates that excel in their particular field. Has your company made that same commitment to hiring staff that will have an immediate impact on your bottom line?

We thought you might also be interested in reading about why others feel this is The Greatest Recruiting Opportunity in the Last 25 Years.

By Sean Sweeney, CPC

1300 Route 73, Suite 313
Mount Laurel, NJ 08054