Headhunter: Market not so bad

October 31, 2008
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A corporate recruiter says employers in Indianapolis arenâ??t acting like their counterparts elsewhere in the country, if headlines are to be believed.

The employment market here has stayed fairly resilient, says Steve Mattei, a partner in Pinnacle Partners Inc.

Pinnacle specializes in accounting and information technology positions that offer $50,000 to $130,000 in annual salary. Those types of jobs tend to weather economic ups and downs better than others, Mattei acknowledges. Nevertheless, Pinnacle has hired employees to keep up with its own demand and anticipates greater revenue this year than last.

Companies â??are certainly not out there throwing money around,â?? he says. But, â??Theyâ??re still moving forward.â??

Some companies have shifted a small portion of IT and accounting positions to contract status, but the number is nominal, Mattei adds.

Mattei says he hasnâ??t analyzed trends in compensation levels. His impression, though, is that compensation isnâ??t dropping.

What do you think? Do Matteiâ??s observations line up with your experiences?
  • I agree that IT and accounting roles will remain steady. It is specific industries that have been hit hard. i.e., real estate, contruction, banking and financial services. And, the trickle down effect has hit companies that serve those industries.

    The credit crunch has affected many start-ups. Among my client base, some have had to let go staff. Some have called it quits. Others are still beating the pavement for money so they can ramp up staff.

    Smaller companies in stronger industries are still hiring, however, they will be making cautious investments in people. And, there are still ample companies that are growing steadily, particularly in life sciences and technology. Companies with strong business models will thrive.

    Generally in poor economic times, companies tend to shift to contract/temporary staffing solutions. This allows for greater flexibility. What this means for the recruiting industry is that direct hire placements will probably be adversely affected in the coming year, while contract and temporary staffing firms might experience an increase in demand.
  • I'm not seeing the movement Mr. Mattei is seeing. I've been out of work for two months, seeking senior level opportunites in the human reosurces field without as much as a phone screen. Obvioulsy, accounting and IT are different fields, but alike in being support functions just as HR. Not only does there appear to be no movement, but it is amazing how many people in the HR field don't return calls and emails. The lack of basic business communication skills and responsiveness boggles the mind at times.
  • I've been in the human capital business for more than 10 years and have seen some ups and downs. This is down despite what Mr. Mattei says. for the past 4 years I've worked in the same market and space (IT). Candidates are not making a move, clients are not hiring. I would agree that when times are tough there is more movement on the contract side. Just because there is movement, doesn't mean we should start high fiving each other. I think Mr. Mattei is seeing more of an up tic for customer service representative job orders and not his 50k- 130k positions. As far as hiring for it's own demand, that's probably due more to attrition than increased business. Thanks in advance.
  • This market is down. Mattei is similar to a Realtor. They never want anyone to perceive thier business as worse than any other head hunter. And, they will never admit to a down market.
  • It took me 14 months to get a job in the IT field from graduation, but I have seen many, many interviews durring those 14 months. This was ofcourse may 2006 to July 2007. I can see what Chesty is saying. Who wants to make a bad move in a bad market?
  • Random, I'm glad you were able to find something. It's too bad it took so long. Indy is a small IT town. Good IT opportunities are hard to find unless you want a help desk position. Keep your resume updated, join some networking orgs, keep in touch with GOOD recruiters. You'll find most of your best opportunities thru networking. That's how GOOD recruiters find GOOD candidates. Don't forget online resources like Monster and CareerBuilder. I hear Monster is upgrading their entire site, and implementing a new search technology.

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