Thursday, 10 April 2008

So is there any form of recruitment downturn occurring?

its the word that dare not speak its name but lets not be shy of at least looking at it. I am going to talk about our narrow world - so no mention of credit crunch or macro economic factors that the media are bombarding us with at present.

My answer is a qualified Yes and No - and please remember this is based on an incredibly short period of time
  • Q1 2008 was OME's most successful quarter in business by a long way- so thats rather good isnt it
  • None of our clients have stopped recruiting - announced a recruitment freeze etc
  • Our most recent launch (OME Search) is getting huge client interest


  • Feb and March were not quite as active as January
  • The extra campaigns from our clients are not as prevalent. So all our contract work is occurring but additional spend is absent
  • The job boards seem to have been hurting in March and deadline deals were dramatically attractive to get something/anything signed off
  • Our new business is not signing off as quickly as i would like (statement of obvious) - in my paranoid mind - is this a sign of caution/an unwillingness to commit
  • the phones don't appear to be ringing as much

Am i worried? not particularly - its end of financial year - we are still growing and as we all know - even a mild downturn will make clients look really carefully at their costs/cost per hire and that is fabulous news for online in general and OnlineMediaExperts in particular.

So in a way - a potential scare like this could be the best thing to happen to us!

1 comment:

Anonymous said...

I agree and think that a scare can be a good thing to keep things fresh. Where some sectors may be experiencing a slow down others continue to keep up their momentum. Its all about a balancing act.