Buffalo Business First: This is what Buffalo-Based Headhunters are Seeing In The Local Job Market
By Dan Miner – Reporter, Buffalo Business First
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Two months ago, recruiters across the world were working in a job market of unbelievable bounty, with companies big and small competing into the international talent pool with checkbooks in hand.
Things have changed so drastically, so fast that the numbers boggle the mind. More than 30 million Americans have filed for unemployment over the past month, according to the latest federal jobs data, in the face of a Covid-19 pandemic that has shown no economic mercy.
Maggie Shea's recruiting firm, StaffBuffalo, focuses heavily on professional services such as accounting, law, insurance and human resources.
There has been a pronounced slowdown in hiring among those businesses, even though they're busy with the immediate needs of desperate clients, she said. That's partly because the immediate reaction of business managers in crisis is to halt spending and partly because people are dealing with the suddenly intermingled process of working alongside spouses and children.
But it's also because the professional services industry is facing the realistic prospect of a slowdown in their recurring revenue lines.
Shea said most of her calls right now are from clients trying to restructure operational, technology and workplace plans.
"People are asking themselves, 'What does the future look like?'" Shea said. "A new normal will evolve sooner rather than later. People need to wrap their arms around that idea and stop trying to get back to what we were doing before, because that won't work anymore."
