A Note From Our Senior Vice President of Recruiting + Development, Denae Bluethmann
Today, every recruiter is wondering: What will next year look like? Most have already experienced a dip in revenue, and some firms have already started layoffs. This will be the fourth economic downturn I’ve experienced since I’ve been in search, and one thing I’ve learned is that search doesn’t halt…ever. It gets more difficult to find, but it never stops. The search professionals who survive market fluctuations share two common traits, a positive mindset and a relentless discipline for relationship development.
Our Co-Founder and Managing Partner, Chris Bull, recently hosted a dinner with 35 CFOs where an economist presented insights on today’s economy and predictions for next year. Chris shared that “the economist acknowledged the challenges we are facing with inflation, rising interest rates, and the war in Ukraine, but he also cited low unemployment rates, better than expected consumer spending moving into the fall, and real estate prices that he believes will hold their value through 2023. He reinforced the underlying strength of the U.S. economy, and suggested a shorter and less impactful recessionary period than we may have expected.” You can read Chris’ full article on his 2023 outlook here.
We may not know what tomorrow brings with the economy, but we can control how we approach it and work hard in continuing to serve our clients and our people.
We can’t control what happens next year, but each of us can control our mindsets and activities. Our firm-wide belief in these tenets has helped us navigate success under similar economic conditions in the past. I am proud to report that during the COVID-19 pandemic, we didn’t layoff a single employee. This wouldn’t have been possible without a team of people, at every level of our organization, that were willing to do what was necessary to “work our way” out of the problem we faced. We may not know what tomorrow brings with the economy, but we can control how we approach it and work hard in continuing to serve our clients and our people.
Nathaniel Swokowski serves as Senior Talent Acquisition Partner for McDermott + Bull, where he assists with internal hiring and expanding the firm’s people resources. Nathaniel’s principal focus is on building strong relationships with high potential talent for our Managing Director role domestically and internationally.
Prior to joining McDermott + Bull, Nathaniel built teams and rapidly scaled business units at companies like Apple, Carvana, and Yelp. Regardless of the industry in which he works, Nathaniel is driven through connection and is fueled by the convergence of passion and profession.