Welcome to the Avoidant Economy, where cash is king and companies have made it their thrones, sitting on piles of it. Welcome to delayed decisions, fear of overhead and the permanent change in the psyche of buyers as a result of the Great Recession. The Avoidant Economy is not going away; in fact, it’s getting broader and deeper as volatility, uncertainty and fear continue to prompt leaders to pause before making decisions and choices. Even the upcoming election will do little to change the Avoidant Economy as people have found perceived safety in hoarding cash, minimizing overhead and mitigating risks.
Yet, business must still get done and companies must have the people to get that work done. That’s why the Great Recession and the subsequent Avoidant Economy are the single greatest opportunity the staffing and recruiting industry has seen in the past three decades. If you are ready with talent at hand and are building, expanding and nurturing your customer network, you will have unprecedented opportunities to bring value to companies and profits to your bottom line.
The key is, are you ready? Have you enhanced how you sell, recruit and lead? Are you thinking that you are already good enough, right now, today, based upon current circumstances? If so, you are likely kidding yourself as the Avoidant Economy requires a level of preparation your firm has not needed in the past 30 years. You will need to be more nimble, more responsive, and more innovative than you are today. Only in taking immediate action, starting today, will you be fully prepared to serve a growing contingent of customers who are hesitant to hire people and, thus, need the people you can access for them.
It comes down to a simple choice — be a part of the Avoidant Economy or serve those who are in it. For me, that’s a simple choice.