February 2008: In this issue...

2008's Employment Picture Is Murky, So Strategize Wisely To Keep Your Talent Pool Intact

By Ron Torch, CEO & Chief Marketing Officer - Torch Group Inc.

In 1980, Ronald Reagan, then a presidential hopeful for the Republican Party stated the obvious, "Depression is when you're out of work. A recession is when your neighbor's out of work." Whether we are in one, heading for one, or in the final throes of a recessionary period, it's a good idea to strategize for smart employment in what will likely be a wild ride in 2008.

Questions about the status of our economy are posted in the January 20 issue of The New York Times Magazine. Roger Lowenstein, who writes for The New York Times said in this article, "Many observers, including Lawrence Summers, the former Treasury secretary, as well as a group of bearish stock traders say the United States may already be sinking into a recession… stoked by fears of the rise in unemployment (reported earlier in January 2008)."

The economy is certainly in a downturn, and, Americans are confused and concerned about the future. In addition, the state of economic unrest leaves employers and employees concerned about the employment picture in 2008.

The country's talent pool is shrinking and if you've got shoes to fill, finding the right candidates could be more challenging than ever.
Nancy S. Ahlrich, SPHR on Monster.Com

We've been hearing that the talent pool is shrinking for several years now. And that trend has an even greater impact on front line positions such as marketing and sales. However, if we are staring down the barrel of a recession - or at least an economic slowdown - that must mean there will be an abundance of good talent looking for good jobs. Well, not necessarily. Follow me on this logic trail. We are in an economic slowdown. When this happens, employees (even the best), tend to stay with their present employer, even if it is just for the sake of safety. Then we have all those Baby Boomers. We have been saying they will retire, and now - they are retiring. Research from the Human Capital Institute indicates, "As 25 percent of the US working population becomes eligible fore retirement by 2010, a projected worker shortage of nearly 10 million is expected to occur."

The most recent Society for Human Resource Management (SHRM) Workplace Forecast asked 9,000 of its 200,000 thousand members to reply to the question: How are you preparing for the potential labor shortage due to the overflow of baby boomer retirements? A whopping 46 percent of small companies (1-99 employees) said they were just becoming aware of the issue; 5 percent of medium size companies (100-499 employees) were just waking up to the fact, and 23 percent of sleeping giants (500 or more employees) were just waking up to this fact! Yet, all agree that their company's most important resource is its people!

The message for employers is quite clear: Think about how you will keep your company well stocked with valuable marketing, sales, communications and creative talent before you fall short.

*Companies are recognizing globally that they are losing talent with 30 years of experience that isn't going to be in the marketplace. (However), the people retiring are not interested in playing golf for the next 30 to 40 years… They're re-entering the workforce as consultants, contractors, and interim managers… (and) we are capitalizing on those trends.

Ron Torch, President and CEO
Torch Group

*Excerpted from Bureau of National Affairs (BNA) White Paper: Workforce Strategies: Using High-Level Temporary (Interim) Employees for Short-Term Staffing Needs.

*For your copy of the entire 28-page White Paper on Workforce Strategies, valued at $50.00, send an email request to rontorch@torchgroup.com, or call me at 440-519-1822.

The question companies should be asking: What is the best way to replace senior level staff and still be mindful of a volatile economy? My answer: Be prepared, and use an emerging strategy that relies on interim management - the hiring on a temporary basis of high-level corporate decision-makers for specific, limited assignments. According to the June 2007 BNA Whitepaper on Workforce Strategies, "This relatively new staffing trend, which began to gain momentum in the 1990s is being fueled in part by aging baby boomers who want to keep working well into their 60s (as they choose). (Plus), a growing number of interim management practitioners are establishing businesses and recruiting experienced executives for temporary, well-paying assignments in decision-making positions at companies of various sizes."

During its 18 year history, Torch Group has been providing the right talent to companies across the country and assisting them in solving their marketing challenges. Torch Group has emerged as a leader in finding the right marketing talent for companies, agencies and organizations large and small.

As technology, globalization and the work/life balance change the landscape of the marketing workplace, it's essential to think differently about how to search for talent and seek out job opportunities. And Torch Group, located in Cleveland, Ohio can help clients and candidates adapt to these diverse conditions by providing flexibility, speed and staffing options.

By carefully analyzing the true needs of our clients and the unique skill sets of our marketing, sales and communications professionals, we're able to deliver custom-tailored staffing solutions to our clients and challenging opportunities for our registered marketing, communications and sales professionals.

If you are looking for cost-effective/unique options to fill organizational gaps or the right opportunity with one of Torch Group's well-known clients; contact us at 440-519-1822, or email rontorch@torchgroup.com.

For more information about Torch Group, visit us at www.torchgroup.com.

*Ask for your copy of the BNA White Paper discussed in this Newsletter. Just send an email to rontorch@torchgroup.com, or call me at 440-519-1822.

Signup To Receive TorchLight Via Email

We can help.

As acknowledged experts in the field of marketing and innovative talent solutions, we’re structured and poised to help you find that perfect CIO -- or complement your existing staff with highly-specialized marketing talent. Whichever way you go, Torch Group can be a valued partner to your company. We’re experienced in finding the talented full-time marketing professionals you need . . . or flexible marketing contractors and consultants if desired. Give me a call at 440.519.1822 or e-mail me at rontorch@torchgroup.com.

Ronald S. Torch
President & CEO
Torch Group, Inc.
. . . your source for marketing talent