FROM ELECTRONIC RECRUITING NEWS
Recruiting In The Trough I
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(November 13, 2007) Everyone agrees that the economic downturn is imminent. Maybe it’s already begun, maybe it will wait until the beginning of the next American administration. It’s coming to theatre near you.
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As inflation eats a hole in the pocketbooks of pensioners, there will be an interesting dampening effect. The effective retirement age has to rise by a year for every 10% of inflation. Since more senior employees are less vulnerable to inflation (and career transitions are harder to manage), attrition will be skewed towards a younger demographic.
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It would appear that there is a “sub prime bust” coming to the employment marketplace in the next year.
That tells me to advise my turkeys:
(1) Adjust your job replacement formula:
{For those, who aren’t aficionados of the Big Turkey’s methodology for calculating “job replacement interval”. Using my patented and copyrighted methodology, you can easily determine how many months YOU will need to find a new job. That is a function of: Annual Salary; the likelihood of a layoff in your company, industry, or skill set; the ease of finding another job in their skill set; their age; and the economy.}
Without going into great depth, I am advising all my Turkeys to adjust “the economy” value to THREE from ONE! This is one notch below it’s all time high of FOUR during the dotcom bust. This unprecedented jump is justified on the signals for Wall Street that rough times are ahead.
(2) Batten down your financial hatches.
Begin immediately to reduce your financial burn rate and increase your savings rate. Beware taking on any indebtedness for any reason.
(3) Solidify your current employment situation
Do whatever is necessary to make yourself valuable, popular, and worth keeping on the payroll. Now is not the time to “get thrown” off the bucking horse.
(4) Increase networking activity
You need to aggressively network to ensure your continued employ ability. Turkeys are advised to review their days outstanding in their various networking panels with an eye towards lowering them if feasible.
(5) Increase internet work on your “brand”
Since the internet works for you 24/7, it’s important to have sites, social networking presences, blogs, wikis, and forums that represent your brand. Spruce up and freshen up all online assets.
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Reinke Faces Life 