Sales and Marketing Search
 



 
Welcome! Vol 4, No 4, April, 2005

Dear Hiring Manager,

This month we talk about the changing demographics of the labor workforce and how it will affect your company and your hiring. With aging baby-boomers starting to retire and not enough Gen-X'ers to replace them, most experts agree on one thing — this bodes well for the more "seasoned" job candidates.


Betsy Harper
Managing Partner
Sales and Marketing Search

in this issue...
  • It's Good to Be Gray
  • We're Bookworms
  • Signup for This Newsletter!
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  • EGB Band
  • Impending Crisis
  • Clint Eastwood
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    It's Good to Be Gray
     

    My son Evan is an R&B musician. His band, The EGB, has released three CDs and is producing their fourth. They play in clubs in and around Boston and New York — and they even "opened" for B. B. King last year. I admit I'm a very proud mother.

    But most of the time I don't get to see Evan perform. His life and mine are on very different tracks. When Evan is starting his work (usually around 9PM most nights), I am winding down. But, last week was different.

    St. Patrick's Day was on a Thursday and the EGB was booked into a popular local Irish pub in the next town. When I got there at 9:30 p.m., the line was out the door. I almost turned around but then realized that this line was for the ID check. Now, there are a few advantages of the aging process, and not having to stand on that line was one of them!

    It's Good To Be Gray!

    Not having to show an ID when you go into a pub isn't the only advantage of getting older.

    I have been reading about the changing demographics of the workplace and how they will affect companies and management. For the past two years this has been a very prominent, important topic in every recruiting industry program I have attended.

    While the projections used for total number of people in the workforce, projected job growth, number of outsourced jobs, etc. may vary somewhat, all of the analysts agree on one basic fact — there is now and will be in the future a significant shortfall between the number of job openings and the number of people there are to fill those openings.

    In Impending Crisis (reviewed below), the authors say that in five years there will be 10,033,000 more jobs than there are people to fill them. Their argument is that fewer people are coming up through the ranks to replace retiring baby-boomers. (My parents put six people into the workforce. I only put two in — and some might even argue that what Evan does may not qualify as "work!") They write that companies will find it more of a challenge to remain competitive — and some will outright fail.

    What's To Be Done?

    This is a very large, national problem and I don't mean to oversimplify the solution. Certainly, companies will have to be very creative in their approach to any labor shortage.

    But it seems to me that one thing companies can do is embrace the "Good to be Gray" principle.

    Embrace the "Gray Heads"

    We have a youth-oriented culture. It's been that way for the past 40 years. But that is changing. For myriad reasons (mostly financial), people are not retiring as early as they used to. And they shouldn't! There are real contributions to be made by older workers who have kept up their skills and their energy levels.

    Add to this mix the wonders of modern medicine and a more health-conscious population and you have a graying constituency that is nothing like their counterparts of 50 years ago. Just this week Southwest Airlines management has decided to support pilots who plan to contest the federal rule that dictates these pilots retire at age 60.

    What Can You Do?

    First, take a look at your hiring.

    Are you guilty of trying to put together a department or a company that looks like your ten-year college reunion? If so, admit it to yourself and work hard to change that. As always, hire the best person for the job but actively seek out candidates who have a long career history. Their diverse experiences could prove valuable when brainstorming an issue or problem.

    Second, remember this:

    Many times, the "more seasoned" candidates come to the table with a maturity that a younger candidate just does not have. "Time on the planet" has given them a perspective that other candidates may not share. That, along with a high energy level, is a winning combination. Don't fight it — make it work for you!

    Third, put a picture of 74-year old, Academy Award-winning director Clint Eastwood on your desk!

    Speaking of Clint, the first three people who click "reply" and tell me who was Clint's date at the Academy Awards this year will get a genuine, Official Sales and Marketing Search "It's Cool to Take Your Lunch to Work" Cooler. As Jim Mocera of Mocera, Visconti & Company CPAs LLP said, "Forget about lunch. This fits a six-pack perfectly."



    The 5 Deadly Sins of Hiring
    The hiring process can be loaded with pitfalls - even when you do everything right! Here are the five most commonly made mistakes, or the "deadliest sins" in hiring. Download Now

    We're Bookworms

    Roger Herman, Tom Olivio and Joyce Gioia are out to give you a few gray hairs. In their book Impending Crisis: Too Many Jobs, Too Few People they say that "employers have been lulled into complacency by the demands of economic, stock market and competitive issues. Even with all these problems, there's a bigger challenge on the way: Cyclical economic growth will create more jobs, providing abundant opportunities for workers who will make their own choices. Will they choose your company?"

    I highly recommend this "reality dose" read to any CEO or hiring manager.

    Sales and Marketing Search is a recruiting firm that specializes
    in placing sales and marketing professionals in growing companies.

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