Dear Leland,
Thanks for writing! I agree that the overwhelming amount of negative news isn’t helping anyone’s mental health. While it would be silly to pretend everything is fine and normal, there ARE reasons to remain hopeful and optimistic. There are certainly pockets in healthcare, warehousing, distribution, logistics and a few others where hiring activity is still solid. Many clients are continuing to press forward with interview plans, even if they are delaying onboarding. Candidates and hiring managers are more available for conversations than they have been for a long time. This means that great candidates and smart companies may have a unique opportunity to upgrade their situations right now. Most members are reporting steep declines in open jobs, but some are reporting that the smaller volume of jobs is leading to a higher fill rate.
On top of that, NPAworldwide has an annual budget that is adopted by the Board of Directors. This budget includes planned income for brokerage, which is a direct reflection of split placement activity. This year’s budget is based on brokerage of just over $7,100 per week. I’m pleased to say that going back over the past 8 weeks, to the beginning of the pandemic, there has only been ONE week in which new acceptance activity was BELOW this target. That was the week ending March 27th, and the acceptance activity was 86% of goal, so lower than planned but hardly catastrophic. The week prior (ending March 20th), members reported acceptances totaling 188% of the brokerage goal. For the seven weeks since, the totals have been 106%, 100%, 116%, 113%, 103%, and 108%. A small number of reported acceptances will result in fall-offs or no-starts, but your network is well-positioned to survive … and thrive. Actual brokerage cash-in for April was about 87% of goal, with some clients paying more slowly than normal.
The membership pipeline also remains strong with steady interest by prospective members. We enrolled 13 new firms in April – take some time to get to know them! Make them feel welcome and look for split placement opportunities.
NPAworldwide members have always relied on each other to survive during challenging economic cycles. This time is no different.
Nicky
Send letters to: nanderson@npaworldwide.com
Dear Nicky,
I’m tired of all the doom and gloom about the pandemic and the economy. I’ve been recruiting long enough to have survived a downturn or two, so I know we’re going to get through this one, too. Is there any data that NPAworldwide can share to help bolster my confidence?
Looking for a Lift in Leland