Recruiters Say Hiring Is Coming Back to Life, Slowly
Searches Rise for Talent Across Most Categories and Experience Levels
NEW YORK (AdAge.com) -- Since the start of the recession, the advertising industry has whittled away more than 11% of its workforce. But some good news is on the horizon. September job data released this month showed a slight improvement, with the industry adding 800 jobs, the first increase since October 2008. Industry recruiters say that after months marked by plenty of candidates and few jobs, business is picking up.
"It's a slow build, but we're seeing activity we didn't see 90 days ago," said Jennifer Carroll, client partner at Korn/Ferry.
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Recruiters repeatedly noted areas such as digital, mobile and social media, shopper marketing, interactive agencies, health care, financial services and multi-unit retail as those that are seeing more traction right now. Smaller, upstart agencies or media ventures and venture capital-backed companies are also looking to bring in new talent.
Emerging from the recession, companies are looking for those with an analytic approach or international exposure, as well as "hybrids," or "people with multiple perspectives," said Elizabeth Zea, a partner at Gilbert and Co.
The unemployed
The majority of companies also are willing to look at talent that's either unemployed or employed. Several recruiters, however, admitted that certain companies prefer to look only at candidates that are employed, reasoning that they must be the best of the best, if they survived cuts.
While David Wiser, managing principal at Wiser Partners, called that "old-school thinking," Erika Weinstein, president at Stephen-Bradford Search, said that "companies are not using me for people out on the street. They're looking at us for corporate raid of competitors, to look for the stars that weathered the storm, so to speak."
And while some recruiters say companies are primarily focused on $100,000-and-under talent, others point out that companies can only go so long without filling empty, pricey senior-level roles.
"We're getting more phone calls and queries from potential client companies thinking about doing a search," said Susan Denison, managing director at Cook Associates. "The bulk of activity is in revenue-generating positions: heads of ad sales, chief revenue officer, head of business development."
Several firms also noted that they have recently conducted talent-mapping exercises. Korn/Ferry said it is in the process of mapping out the market in digital media, highlighting top players in agencies that have built a more rigorous analytic approach to digital marketing. The second phase involves identifying a team to surround that person.
"[It's] essentially a 'lift-out' strategy, as an alternative to the costly, slow and rather complicated -- given the current economic climate -- acquisition of an entire agency," Ms. Carroll said.
Shallower pool
All of this could mean that the buyer's market of the last few months is showing some early signs of shifting in favor of job hunters. "Up until August, the talent pool had been very deep with a lot of great people looking for opportunities," said Carlos Cata, regional managing partner at Heidrick & Struggles. "Starting in Q3, Q4 this year, it's getting shallower. Clients that are being opportunistic in picking up good talent, that window is closing."
Mr. Wiser argues that companies don't have as much leverage as they may think. Because of the implosion of the housing market, it's become "almost impossible" to convince people to relocate, he said. And few employers are offering assistance in buying or selling a home or relocation. That's forcing more companies to entertain flexible work schedules and telecommuting, he said.
"There's a mobility and relocation issue, there's a feeling of appreciating where you are and not wanting to risk a change. And today, if you're last in, you might be first out," Mr. Wiser said. "For those reasons, companies that think they're in the driver's seat should rethink that."
Still, it's certainly too early to herald a complete recovery. Although most recruiters were optimistic, some said that business remains soft. "I don't think we'll see any return to great hiring until the second half of 2010," said Anne Ross, founder of her eponymous firm.
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Anne H Ross Executive Search
Headquarters: Chicago. Other offices: Boulder CO with representation in NYC
Website: Under construction
About: National industry vertical specialist for both agency and client side; innovative placement for strategic communications roles. Strategic/ account/context planning, client services, creative and senior media agency positions--digital and "analog". Also the occasional GM, CFO or COO, when the requirement is that they hail from the communications industry.
Key Contact: Anne Ross, founder/owner, 773.525.7879, aross@annehross.com, http://www.linkedin.com/in/annehross
Anne H Ross
Many of the recommended firms are retained generalists, not the bread and butter industry specialists who really know the biz and the people after years of tracking who and what and why: Marianne Gordon, Bob Herman, Cathy Hurless (Media), etc.
A "digital mapping" effort. Please. The pros in digital are in San Francisco, LA, Chicago, Denver, Austin, and NY (some, maybe, Dallas; less so in Atlanta). Such a pronouncement makes this recruiting effort appear scientific. Ummmm, not so much. It is far more of an art these days than a science.
The business must push truly earnest clients to articulate what they want to do for clients or their companies; how to deal with the huge ambiguity facing clients and agencies alike as the previous silos are torn down(please?); and helping them articulate what they think "digital strategy" really is.
Of utmost urgency is to identify, understand and apply the talents and aspirations of professionals who can connect the dots and have proved they can evolve.
The "recovery" for which many hope, will be, instead, a "reset." Professionals who are multidimensional will be in great demand.
Those clients who understand what that means and how those skills can be applied to solve their issues of thought leadership in this new, wonderful, challenging world will win.
I am the first to want the "short sale" to win (I may have forgotten how to create an invoice in 2009). But the reality is--the industry I love needs to get a grip, think proactively and decide what it wants to be, whether internally for advertisers or for agencies.
And it all starts with the people who can drive thought. Not the "talent," not the jargon-y stuff, but the passionate, innovative people in the biz who do it because their curiosity is piqued, their comfort zone needs to be challenged and their aspirations are to contribute and solve problems. "Fit" must be defined in future think, not "with whom I might want to share a beer."
Only about 30% of the candidate pool is truly engaged professionally, whether "employed" or not in this economy.
Rather than finding professionals that meet the box-checkers' requirements, maybe it is time to demand that recruiters-internal or external- look for the real best and brightest. As hiring entities-you need to articulate what that means, relative to your corporate vision.
Are you up to it?