In this Issue:
1. Bob Harrington Associates Introduces Monthly Newsletter
In order to continue to add value to our business partnerships, we will be providing you with a one-page summary of our industry observations, focusing on informative and interesting topics in answer to the question “What’s going on in the market?”
In the course of one year, we are in contact with over 30,000 middle managers and executives in printing and packaging industries. We have an expansive network for information and feel that we can offer a unique perspective to you. Some things you will already know, but some things may surprise you.
2. What is the Outlook for Hiring?
In August 2000, we saw a 30% decline in client openings followed in February 2001 with another 30% decline. As companies anticipated a weakening economy, they aggressively cutback and there were significant layoffs in Q1, 2001. As the recession set in and the events of 9/11 unfolded, hiring activity dropped even further in Q1, 2002. Results for 2001 showed revenue declines in the 15% to 20% range for most companies and more cutbacks ensued. With Enron and similar scandals, more uncertainty continued throughout 2002.
Clients report to us that while revenues are improving and inventories at their customers have been reduced, they are very conservative about hiring. They would like to see one solid quarter of performance before loosening the reins. At best, that means 2Q, 2003 for any upturn to occur. Frankly, it is more likely that 2003 will show improvement over 2002 as the economy slowly strengthens.
Hiring activity doubled in early 4Q, 2002, so maybe this is the beginning of a rebound.
3. Bob Harrington Associates Announces it’s New Website
Please click on the link to see what we are all about.
We welcome your feedback and would be interested in addressing topics of specific interest to you. Just let us know.