News You Can Use: June Jobs Report Bounces Back

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After a sizable slip in May, the June jobs report showed a marked improvement, with the largest gains in the professional and business services industries. Analysts (and employers) have a renewed (if somewhat subdued) sense of optimism leading into the Federal Open Market Committee later this month, with hopes that a potential downturn in the economy can be thwarted.

The recruitment specialists at 20/20 Foresight Executive Search are here to help you navigate the ups and downs of hiring in a volatile economic environment. Connect with us today by filling out the form at right or calling 708.246.2100 to see how we can guide you to your next best hire.

Jobs Jump: U.S. Beats Expectations With 224,000 Jobs Added in June | Cheddar

News You Can Use: Training Your Workforce in the Technological Age

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Corporate management and leadership (along with just about everything else in the workplace) is evolving at a rapid rate in this age of constant technological advancement. As every industry finds its way in the changing marketplace, this Fortune article outlines how AT&T is helping its employees further their career goals by harnessing the power of online assessment tools and continuous training both on and off the job.

The recruitment specialists at 20/20 Foresight Executive Search stay ahead of trends in the workplace, helping companies navigate the complexities of finding, hiring and on-boarding professionals who will help them reach their goals. Find out how we can work with you by filling out the form at right or calling 708.246.2100.

'Upskilling' Your Workforce? Start by Measuring the Skills They Have Now | Fortune

How the U.S. Economy Impacts Executive Search

us-economy

The recent headlines are confusing: The U.S. economy has never been stronger; yet the stock market is at times volatile. How does this paradox affect a company’s 2019 HR goals such as hiring decisions and employee compensation? Here we’ll take a look at how your business might be influenced by the economy at this point in time and how you can navigate the sometimes tricky twists and turns to ensure you’re making the best choices for your company in the long term.

Historic Job Gains - And Some Losses

Job growth in America is on an unprecedented surge: April 2019 marked the 103rd straight month that the economy has added jobs, while the unemployment rate has remained under 5 percent for the past 31 months. In fact, the unemployment rate fell to 3.6 percent in April, marking the lowest level since December 1969.

This is all great news for the job market, right? Well, yes and no. As the world’s largest economy shows continued signs of flourishing, all eyes are on the Federal Reserve. This Crain’s Chicago article asks: Will the Fed ease policy and create rate cuts to avoid sparking inflation and what some are predicting as an impending recession?

It’s helpful to take a closer look at where the gains are happening, as well as the losses, to better understand the current state of the U.S. labor market. The sectors that are experiencing the biggest growth include construction, healthcare and hospitality, while retail and the automotive industry continue to struggle, battered by store closings and manufacturing plants shutting down. All of this information should be factored into the larger economic picture.

Are There Enough Workers?

One of the ongoing concerns of the current employment situation is the lack of workers to fill all of these newly created jobs. As this CNN Business report states: The unemployment rate fell in April partly due to the shrinking size of the labor market. Other indicators of a potential slow-down include a slight decline in the average work week and a lower percentage of people either currently working or looking for work.

What About Wages?

While all of this talk about extraordinary gains percolates, many economists point out that the average worker hasn’t felt the surge in their paychecks. It’s true: Wages have largely stayed stagnant even during this historic period of growth, only recently showing a slight growth (3.2 percent) in April. With this in mind, how do companies attract and retain top talent while keeping an eye on the bottom line?

What This All Means for Your 2019 Hiring Practices

Watching the economy closely is a necessary evil — the inherent ups and downs can be both exhilarating and exhausting, especially if you work in an industry that hasn’t had the benefit of these historic gains. Evaluating your company’s specific goals and vision despite what the stock market might be saying on any given day is key to riding this wave.

“The midpoint of the year is a perfect time to revisit the 2019 initiatives you established for your company,” said 20/20 Foresight Executive Search Managing Director Robert Peck. “Are you hitting your financial targets, which allows for greater growth? Are your overall objectives being met, creating more opportunities and additional job openings? These are the internal indicators to assess despite external factors when making smart hiring and compensation decisions for the rest of the year.”

The 20/20 Foresight Executive Search team is made up of industry experts with in-the-field experience. We inherently understand your business to help you navigate the current economic outlook while making savvy executive placements that advance your company’s mission.  Connect with us today by filling out the form at right or calling 708.246.2100.

News You Can Use: March Jobs Report Restores Confidence

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After February's lackluster employment report, good news for the U.S. job market returned in the month of March. As CNBC reports, payrolls expanded by 196,000, and the national unemployment rate held at a record 3.8 percent, restoring confidence across a range of industries. 

How is your company faring in the face of this unprecedented time of growth? We can help you source the country's top talent to add to your executive team, ensuring your staff is positioned to grow and prosper in today's economy. To connect with our team of expert recruitment specialists, fill out the form at right or call 708.246.2100. 

Job market bounces back in March with 196,000 gain in payrolls | CNBC

New Year inspiration: What 2018 can teach us about the 2019 job market

As one year comes to a close and another kicks off with fresh energy, ideas and inspiration, it’s instinctive to evaluate the lessons of the last 12 months and assess what will bring us professional and personal advancement in the future. 2018 was full of highlights both for our clients and our company, and before we focus on the anticipation of the new year, we’d like to celebrate some of our collective successes.

2018 achievements

The 20/20 Foresight Executive Search team was thrilled to once again be named to the Forbes’ list of “America’s Best Executive Recruiting Firms” for the second consecutive year. With a #15 overall ranking and the #1 spot as the nation’s top real estate executive search firm, 20/20 Foresight is honored to be recognized in this prestigious compilation for our highly specialized approach to recruitment.

Our ongoing collaborations with our clients to achieve their executive search goals are our main cause for celebration. In 2018, the 20/20 Foresight team:

  • Successfully completed 36 C-Suite searches

  • Realized a 94 percent success rate of searches within 6 months and a 99 percent placement rate within 9 months of the beginning of a search

  • Sustained an average 4-month search time for a C-Suite placement and 2.5-month search time for a mid-level Executive placement

  • Maintained a “stick rate” of higher than 92 percent on all placements since the beginning of 2017

These accomplishments set a high bar for our work throughout the new year and beyond.

As we enter 2019 with renewed drive and motivation, what industry insights and job market trends should we keep top of mind?

2019 employment trends and predictions

As we are all aware from the headlines, 2018 saw one of the strongest job markets in decades, continuing a surge of steady growth for the past nine years. The national unemployment rate hovered at 3.7 percent — the lowest it has been since 1969. This is all encouraging news, but how will the ever-changing job market fare in 2019? What will be the disruptors we should look out for?

We predict that heading into the 1st and 2nd quarters of the new year, hiring executive-level talent will remain hyper intensive, with the areas of finance/accounting and construction/development serving as bellwethers of these employment trends. However, as the year progresses, we do anticipate an overall slow down in the employment sector for the remainder of 2019, most notably for upper-level executives.

While the economy doesn’t seem to be slowing down as of yet, cracks are beginning to show. As a recent Forbes article explains, recessions are oftentimes unexpected and tend to be preceded by economic strength. The author notes that watching indicators such as retail sales, industrial production and the unemployment rate can help predict if and when a recession might hit.

Your 2019 to-do list

Armed with the learnings of the past year and the prospects of the new, what will your team’s success story be in 2019?

Prepare for your hiring needs in the new year by partnering with knowledgeable experts who specialize in your field. We call our approach the 20/20 Difference, and it means that you’ll have the industry’s best database, next-level search technologies, an extensive candidate evaluation process and a one-of-a-kind hybrid fee structure to bolster your searches and bring your company the nation’s top talent.

The 20/20 Foresight Executive Search team wishes you all the best in 2019. We look forward to working with you as the year unfolds and opportunities arise to add to your team.