Momentum

November 15, 2017 Leave a comment

Overall hiring strategy is a momentum game.  Slow hiring, lack of hiring, and reluctance to move forward and hire to improve the team will kill momentum and leave the business stagnant.

One really good hire makes an impact and gets the ball rolling.  A strategy to make a number of key hires over a specific period of time is better and will pick up momentum as you move forward.  The key is to make the first hire strong and one that impacts the bottom line.

 

Todd Kmiec

 

https://www.linkedin.com/in/toddkmiec/

Strong Jobs Report, Real Growth Ahead?

November 8, 2017 Leave a comment

Last week we had a strong jobs report.  261,000 new jobs is not a great number, but it’s a pretty good number.  Considering the fact that this included significant disruption from multiple hurricanes, the number is impressive.  This brings us down to 4.1% unemployment.  The lowest number since 2000.

Yes, we still have a good number of non-participants in the population, not looking for a job, and a good number of underemployed.  Regardless, the raw number is still really good and shouldn’t be ignored.  The stock market is reaching new highs indicating that we are seeing some signs of real growth.  With employment numbers like this there is solid reason to believe that we are finally headed for real growth, not just cost cutting to make operations lean and squeeze out profits.  It has now been over 10 years since we saw real growth.  It’s no coincidence that we are now seeing strong construction across the board and that we have not seen strong construction like this in over 10 years.

The one thing that we don’t have, and do need to see, is wage growth.  We have a tight labor market without wage gains and that is a disconnect.  It also indicates that if we are going to see real growth there is a lot of room for a lot more growth.

 

Todd Kmiec

 

https://www.linkedin.com/in/toddkmiec/

Pulling The Trigger

November 1, 2017 Leave a comment

Sometimes it’s tough to pull the trigger.  This candidate fits, well enough, but we’re not excited about them.  Maybe we can find better.

That’s fine, and a good reason not to pull the trigger.  Just make sure that you are aware of the risk.  If you look for someone better, a candidate that wows you, you may lose this one.  Every situation is different, but if the risk of losing this candidate is something you can deal with then you probably don’t want them at all.

 

Todd Kmiec

 

https://www.linkedin.com/in/toddkmiec/

Rah Rah

October 25, 2017 Leave a comment

Firing up the troops is temporary.  Promoting positive thinking, PMA, and rah rah type motivation will provide a short term boost.  But a short term boost is not what we are after.

Process works.  Strategy, focus, and putting the pieces in place to accomplish something works.

Fire up if it makes you and the team feel good, but don’t forget the process.

 

Todd Kmiec

 

https://www.linkedin.com/in/toddkmiec/

Broad Based

October 18, 2017 Leave a comment

Recent reports show that we are experiencing a wage growth barbell.  Wage growth on the far ends of the income spectrum.  So the highest paying industry, Information Technology, is experiencing wage growth while the lowest paying industry, Leisure and Hospitality, is also seeing wage growth.

This signifies broad based wage growth across the spectrum.  If this holds, it should lead to real economic growth.  A solid improvement in business conditions.

 

Todd Kmiec

 

https://www.linkedin.com/in/toddkmiec/

No Budget

October 17, 2017 Leave a comment

No budget, no hire.  That’s the way it goes.  We get caught in situations where the budget just isn’t there, regardless of how good the potential new hire is.

If you’re working to build a great team, you may need to get creative.  Would this hire impact the bottom line?  Will you be able to find an equivalent or near equivalent hire when the budget is there?  Budgets and plans can be changed.  If your focus is on building a great business, great hires need to be made when the opportunity is there.

 

Todd Kmiec

 

https://www.linkedin.com/in/toddkmiec/

The Impact of Great

October 16, 2017 Leave a comment

Great employees have an enormous impact.  They are fun to work with, make other employees better, and make entire teams more efficient and effective.

They also make the environment much more attractive to potential employees and they make it less attractive for other good employees to consider leaving.  One great hire can be a springboard to building and keeping a great team.

 

Todd Kmiec

 

https://www.linkedin.com/in/toddkmiec/

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