San Francisco, CA. October 4, 2009 - With the close of the 3rd Quarter comes optimism about the current economy and high hopes that a rebound is imminent. Recruiters are asked daily whether they think organizations are beginning to hire again, a question that can now be answered with positive retort. The IT industry, or economy for that matter, is no where back to where it needs to be, but over the last quarter things are definitely becoming encouraging. Although unemployment in the Bay Area is still very high, 9.1%, there is an influx in business confidence as organizations start to get serious about rebuilding their workforce, and glimmer of hope to the unemployed that they should start to see the light at the end of this “recessional” tunnel.
Throughout the past few months, it has not only been the unemployed who are tirelessly hitting the job boards and their personal contacts in hopes of finding the next opportunity, the employed are looking as well. It is not uncommon to come across a candidate who is happily employed but has posted their information, as they are simply keeping their eyes peeled and ears open for that niche opportunity that will take their career to the next level. Companies were hiring very selectively throughout the 3rd quarter, looking to bring aboard contractors possessing strong backgrounds within several different skills sets. Looking for one candidate capable of taking on the responsibilities that were previously allocated to two or three employees. As a result, the higher-level candidates are having a lot less trouble finding and/or retaining employment. Those who are qualified and willing to “wear many hats” for that organization were about the only ones with a secure stance on the current job market.
The bottom line for the 3rd quarter: everything was calculated; risks were not being taken; each move, be it for an entire organization or just on a personal level, was diligently thought out and executed based on guaranteed odds; people were holding onto their money and spending only on products with minimal up front cost and unbinding terms; businesses were trying to gain control and bring themselves back up to a thriving state. As this quarter ends, an economic rebound is becoming a reality and the dormant nature of the job market will soon be coming alive.
About Cypress HCM:
Cypress Human Capital Management (HCM) identifies, recruits, selects, and deploys information technology talent for the best and brightest companies in the nation. By combining our intimate knowledge of technology with our understanding of talent and human capital management, we deliver tangible value to each client we serve. Driven to be more than just a Technology Staffing Company, Cypress HCM was founded to deliver Services, Solutions, and Tools that enable our clients to improve their IT initiatives. Cypress HCM enhances visibility into the recruitment process, provides superior performance, and delivers a measurable cost reduction for productivity.
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