Even if the cuts are having an effect on recruiters, it isn’t significant, at least in the majority of the cases.
Canton, OH (PRWEB) March 12, 2013
The sequester cuts (also called sequestration) have been in the news heavily during the past few months. (Sequestration is a term that describes the practice of using mandatory spending cuts in the federal budget.)
These cuts were officially made on March 1 of this year. While the full effect of the cuts may not be known until the end of 2013, how much of an effect are they having after two weeks? Specifically, are they having an effect on the employment marketplace, especially in regards to executive recruiters, who depend upon the health of the job market to place people and generate revenue for their firms.
According to a recent poll conducted by Top Echelon Network, an elite network of highly specialized search firms, nearly 75% of Network recruiters indicated that the sequester cuts have so far had “no effect” on their recruiting business.
As part of that poll, Top Echelon Network asked the following question: “What effect are the sequester cuts having on your recruiting business?”
Nearly 75% of poll participants (73.9%) indicated that the sequester cuts are having “no effect at all” on their business.
In addition, 19.6% of recruiters stated that the cuts are having “a minimal effect,” and only 2% were of the opinion that the effect the cuts are having are “more than a little, but still not a lot.”
On the other side of the spectrum, 2% of poll participants indicated that the sequester cuts are having a “substantial effect” on their recruiting business. In addition, another 2% admitted that they don’t know exactly what the sequester cuts are.
According to Top Echelon Network President Mark Demaree, the results of this poll illustrate that the sequester cuts aren’t having a large impact on executive search firms, at least not initially.
“Even if the cuts are having an effect on recruiters, it isn’t significant, at least in the majority of the cases,” said Demaree. “It’s true that the effect of the sequester cuts might become more pronounced over time, but recruiters aren’t being hampered that much in the short term. I suspect part of the reason for that is the fact companies are still having trouble finding the candidates with the skills they need, and they’re willing to pay executive recruiters to find those candidates.”
Top Echelon Network was founded in 1988 in Canton, Ohio. Nearly 400 recruiting firms from all major industries are Preferred Member recruiters in Top Echelon Network.