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10 Reasons Why I Really, Really Love Recessions!


9 Comments

I love recessions. I practically drool every day I hear more bad news. Recessions provide unique opportunities to achieve goals unobtainable during normally robust economic times.

In a nod to David Letterman’s “Top 10” skit, here are my own “Top 10” reasons why I love recessions starting from 10 and working upward to my number-one reason.

Some involve recruiting specifically and directly, others indirectly impact recruiting by reducing operating costs or presenting other unique opportunities relevant to my business such as autos, computers, fleet autos, or office space.

HERE IS THE LIST:

10. The furniture deals are out of this world!

9. Car lots are bursting at the seams with last year’s inventory and dealers are finally, finally getting serious about dealing…up to 25% – 30% off MSRP and more!

8. Real estate investment opportunities are at all time rock-bottom prices. Great time for buying a Myrtle Beach vacation or office condo.

7. Office rentals and leases are down and commercial property (even in prime locations) can be signed at rock-bottom pricing.

6. Everyone is laying off, even my competitors. I can interview top recruiting talent from the competition that never would have considered leaving 1.5 years ago.

5. Even if I don’t hire the competition’s recruiters, the interview debriefings and competitive intelligence garnered is terrific. Now I can go after their clients too.

4. Some of my semi and “pseudo” competitors are thinking of selling their business. I’m receiving offers to buy out companies inconceivable two years ago.

3. The stock market is in the tank: AWESOME! Stocks can be purchased at a fraction of their book value at P/E ratios that may not be seen for another 15 years. I’m buying. Are you?

2. Time to crank up our own internal hiring! With so much recruiting talent wandering the streets in search of work, there’s never been a better time for hiring recruiters, recruiting trainees, researchers, and sourcers. Our company has about 20 ads on Monster alone (just for IRES) to take advantage of the loosened talent pool! We’re having a party interviewing each and every week for positions in 10 key states and regions we are focusing on. Party hats and noise makers included.

1. And the number-one reason I LOVE RECESSIONS is….drum roll please…C-Suite executives who would never return my calls are now returning my calls and doing so promptly!

Never have so many C-Suite executives been nervous about anticipatory layoffs, mergers, or acquisitions like the present. Terrific! They are not only cooperative, but have updated their resumes and are eager to submit them, return emails promptly, and speak to me directly.

When this economy turns around – and it is already doing so — I will have developed more warm C-Suite executive relationships than ever possible during normal boom times. Fantastic.

I will have the inside track because I was one of the few recruiters willing to help out, lend a hand (even if indirectly), and they will be appreciative once they are back in charge of hiring!

Now you know why I get so worked up about recessions. I’m practically jumping up and down on my office desk and dancing in the halls!

The phenomenal opportunities that now surround us are amazing.

Isn’t this fantastic?

Editor’s note: Be sure to catch Frank’s next article in the March issue of The Fordyce Letter (entitled “Magic Methods for Getting Calls Returned”), which will mail in a couple of weeks.

Frank made the plunge into the search industry in 1987. Within two years he was earning fees on a monthly basis that were comparable to his entire previous annual salary. Today he specializes in the low to mid-six figure hires and manages multiple openings each month. While he has not invented recruiter training, he views himself as someone that improves, perfects, and enhances pre-existing techniques. His newly published book, “A Manager’s Guide To Maximizing Search Firm Success©” by Searchlight Publishing has earned him more partial retainers and engaged fees — while knocking out contingency-only competitors — than any other technique ever used. It is available now on www.amazon.com
  • Gina

    Capitalizing on the fear and misery of others is no way to run a business. This is one sick and twisted post.

  • David

    I don’t think this post is twisted at all. Perception is reality and to grow and succeed your perception cannot be one of fear but one of opportunity and growth. Think fearful thoughts, live in fear, think prosperous thoughts live in prosperity, recruit on, I’m on my 150th call and its only 9:47 :)

  • Kara

    It all depends on the type of Industry you are associated with to have that attitude. There is a real shortage of Rehab Therapists (Physical Therapists, Occupational Therapists, Speech Language) as well as nurses & other related healthcare workers.

    I wish I had the luxery of multiple candidates for each position. Then again, I wouldn’t know how to act. This industry has been living with shortfalls for years now.

    But – I do believe in the power of prosperity and abundance and the candidates find me and I find them!

  • http://www.linda.com Linda

    While the 10 reasons are interesting ones, there is no mention about the #1 Reason we are Recruiters and that is to locate job opportunities to help people with their search.

    There are only so many candidates, office furniture, etc. we need. What we really desire is a placement!

  • http://renwickportugal.com carmo botelho

    I thorough ENJOYED your article and read it twice.
    I found it SOOO funny and SOOO TRUE.
    Congratulations
    Carmo Botelho

  • Tallis

    Yeah Frank. Trying to take the recession, misery, and constant negative drumbeats on the nightly news and turning it into a list of 10 silver linings to the recessionary cloud is indeed horrible, ill, and so very gnarled….

  • Jana Rugg

    I guess if you were an attorney you would also greatly enjoy a huge plane crash, huh??

    I’m in healthcare recruitment and I thank God that I’m in this space, as many of my friends who work in accounting, finance or general business space are indeed feeling the pinch of this recession and working as hard as they can to make it through. Yes, I love that the weak and lazy recruiters will find something else to do during these “hard times”, but to find so much joy in the suffering of the auto, retail and financial failures so many people are bearing seems very twisted and sad to me…

    Or maybe this was written tongue in cheek???

  • http://zionpartners.com/ Chris

    Great article. Although I feel for people who are recruiting in an industry that is completely dead, I also believe that those of you who are crying about what he wrote need to get over yourselves. If you don’t have the strength to capitalize off this market, or just to survive, then you are the weak ones that are meant to be left behind. The recruiting market is oversaturated by no-talent, soulless resume sending monkeys that give us real recruiters a bad name anyway. Let only the strong survive. If you don’t have a competitive heart, get out of sales.

  • http://www.kingscroft.com.au Elaine

    You people all need to lighten up. It’s a recession not a depression! I imagine you have all bought masks for possible swine flu infection!