9.3 to 9.7% That’s right, that is the expectation for the 2010 unemployment rate from the Federal Reserve based on this abcnews.com story. I find that number shockingly high, but it is realistic. Then there is this bit of information from Reuters (emphasis mine): Speaking at American Economic Association’s mammoth yearly gathering, experts from a range of political leanings were in surprising agreement when it came to the chances for a robust and sustained expansion: They are slim. Many predicted U.S. gross domestic product would expand less than 2 percent per year over the next 10 years. The depressed economy combined with the high unemployment numbers has started to change… Read More
Continue ReadingSwamped By Applicants
I am hearing more discussions about incredibly large responses to sales job postings in this present economy. Some of the companies I talk to are overwhelmed by the sheer numbers of resumes they receive. I went back to look at an old article we wrote back in 2005 when the economy was in a much stronger position. In today’s economy, the points are even more applicable: If your ideal sale starts at the VP level, state in your ad that a needed skill is the ability to communicate at the VP level. If your sale involves many competitors, state in your ad that the successful candidate is able to close… Read More
Continue ReadingSalespeople – Born Or Made?
The nature vs. nurture debate is one for which I am most intrigued. My Bachelor’s degree is in psychology and this topic was a popular debate topic in my courses. Yesterday I came across this article from CNNMoney.com – Are entrepreneurs born or made? As I look at the stats, I tend to interpret the result as saying entrepreneurs are made: Shane and his fellow researchers compared the entrepreneurial activity of 870 pairs of identical twins — who share 100% of their genes — and 857 pairs of same-sex fraternal twins — who share 50% — to see how much of entrepreneurial behavior is genetic and how much is environmental.… Read More
Continue ReadingNewspaper Meet The Dodo
This is an advice column from the Selling Power archives: E. Kinds of ads. Classified ads are found in the help wanted section of the newspaper, organized on the basis of occupation or industry and often alphabetized by the first word of the ad. Display ads have special borders with the company logo and sometimes artwork, drawings or photos. Open ads identify the name of the company. All inquiries from such ads must be answered, usually by mail or phone. Blind ads do not reveal the name of the company; the reader is asked to respond, by letter or resume, to a box number. In this case, you can respond… Read More
Continue ReadingWhen Will It End?
The Great Recession roars on during this holiday season. Our company is focused on sales hiring, both assessing candidates for our customers and running full recruiting processes. The hiring outlook is of great importance to us and a topic I try to track closely. That being said, this abcnews.com article provides a mixed bag (emphasis mine): The November outlook by the National Association for Business Economics, which is set to be released Monday, shows economists expect net employment losses to bottom out in the first quarter of next year. Employers are seen starting to add to their payrolls after that. I would be more comforted by these economists if I… Read More
Continue ReadingThe Non-Employed
Every week more numbers come out to reveal another level of ugliness in this economy. Today comes this article from CNNMoney.com. The state that speaks volumes: Every state had an unemployment rate in October that was higher than a year ago, and every state has lost jobs over the course of the year. The recovery from this recession is going to take a long time as the hole keeps getting deeper. I think it is safe to say that the unemployment rate is higher then what is being reported: Unemployment rates, which are taken from a separate survey, tend to rise even as the employers start hiring again, because the… Read More
Continue ReadingJobless Recoveries
Jobless recoveries is an all-too-frequent phrase in our modern economy. The 3.5% growth in 3rd quarter GDP is a bit misleading as the government poured money into the economy (cash for clunkers, first-time home buyer program, etc.). The hiring trend continues to be abysmal as somewhat expected as it is a lagging indicator. But is it becoming more of a lagging indicator? This article from Commentary Magazine makes an observation I haven’t heard elsewhere (emphasis mine): The underlying reason for increasingly jobless recoveries in recent decades can be found in Chart 5 of the New York Fed’s report. In the early 1980s, 51 percent of industries were undergoing structural change… Read More
Continue ReadingShould You Involve Customers In Hiring?
Quite the question, don’t you think? That is the title of this article from Selling Power. I have to confess I was perplexed by the entire thought – how would you as the hiring manager benefit from having your customer help you hire the salesperson? I see nothing but pitfalls in this approach. My first thought is mentioned in the article: “For example, the customer could be shopping around for someone he could squeeze on margins,” she says. “It’s more that they are looking for an easier mark, and that’s not to anyone’s advantage in the long run.” No kidding – there might be a great advantage to the customer… Read More
Continue ReadingThe Future Of Social Networking
The Herman Trend Alert’s topic this week is the future of social networking. An excerpt for you (my bolding): “Social networking is in its infancy”, says David Nour, Relationship Economics CEO and Web 2.0 guru. “We’re on the upward swing of the hype cycle”. Lots of people are discovering the power of Social Networking and investing their time and energy to make it work for them. “The real power and promise of Social Networking is a mass collaboration platform, accelerating one’s ability to get things done”, adds Nour. Enlightened individuals are shifting from “not invented here” to “invented everywhere.” It gives us the opportunity to extend our reach beyond any… Read More
Continue ReadingSales Interviews Are Uncomfortable
I about fell out of my chair reading this SellingPower.com article – Interviews Get Comfortable. A quick excerpt to set the tone: “It’s your job as an interviewer to make the candidate feel comfortable and it starts from the moment you see that person,” says Barbara Pachter, a speaker, trainer, coach, and author of numerous business books, including The Power of Positive Confrontation (Marlowe & Co., 2006). Pachter does acknowledge that there are times when interviewers put candidates in awkward positions to view reactions, but for the most part they should work to put candidates at ease. Her suggestions for putting candidates at ease include: Be a gracious host.… Read More
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