Welcome to the Roaring Twenties! As we enter into a new decade, it seems that the economy is booming and unlike the “jobless recovery” we saw after the Great Recession, everyone who wants a job has a job. The latest unemployment numbers show us at a 2.6% unemployment rate, the lowest in more than 50 years. Federal Reserve economists have said that full employment — the economic situation where all labor resources are being used in the most efficient way — is about 4.7%. This has been great news for the American worker, with individual income rising, however, it is presenting brand new challenges for companies.
How can you hire people when people already have a job? Recruitment and retention of talent are vital to the success of your organization. A job posting that used to get 100 qualified candidates now gets only a handful of unqualified applicants — they applied randomly on a job site, without reading the job description, having little or no experience, and have unrealistic salary expectations. It’s enough to make an HR manager use inappropriate language at work. #NSFW
I talk to business owners of all shapes and sizes and recruitment seems to be the #1 concern as we enter the new year. If you cannot attract and retain the right people, then your lofty goals for 2020 may not be realized.
Now don’t get me wrong, low unemployment is a wonderful thing. Let’s put things into perspective. Unemployment rates 100 years ago in the 1920s reached a staggering 24.9%. But as we all know, the very definition of insanity is doing the same thing over and over but expecting different results. Take a good, hard look at what you’ve been doing over the last few years and ask yourself if that is going to work for you this year.
- Do you advertise on the same job sites?
- Is the salary and benefits package you offer adequate?
- Have you updated the job description recently?
- Can people apply for jobs on your website?
- Is your website optimized for job listings?
- Have you used Google to advertise for jobs?
- Do you post your job offerings on social media?
- Have you thought about calling some professionals for advice? #hinthint
2019 was a great year for Madison+Main and our clients and as a result, we’re hiring. Our job link for an Account Executive was seen thousands of times and garnered more than 120 responses, the vast majority of them qualified. Next week, we’ll have two awesome new Madison+Main-iacs joining the team.
I will also be joining some very smart folks for a panel discussion entitled “The War for Talent: Finding and Hiring the People You Need” at the University of Richmond’s Jepson Alumni Center on Wednesday, January 22. This is a quarterly luncheon of the Virginia Council of CEOs, but you can attend even if you’re my guest by clicking here — there is a fee for guests.
Monday, December 30 – Are You Game To Help?
Tuesday, December 31 – Moving The Needle
As we close out 2019, our clients at Compass Entertainment Complex are officially putting fun on the map. Their 28,000 square foot facility of family fun and entertainment is on its way and Coastal Imagery has pictures to prove it. We couldn’t be more excited. Check out the progress on Compass’s Facebook page.
Meanwhile back at the office, the Madison+Main-iacs got an early start to the New Year celebrations by having an extra day off. #BestBossAward
Wednesday, January 1 – Happy New Year!
To ring in the New Year and celebrate Jack’s 18th birthday, I booked an impromptu trip to Las Vegas. We packed light for a short stay — our bags were mostly weighted with 2020 party supplies — and I am too cheap to pay for checked bags on American Airlines. If you follow me on Facebook, you’ll know that Hattie won $120 starting with a random 43 cent voucher she found in a Wheel of Fortune penny slot machine. The lucky ducky could’ve paid for the entire vacation. (Spoiler alert: She didn’t.)
Speaking of the New Year, our first Media Mixer of 2020 is right around the corner. Join the Madison+Main-iacs on Wednesday, January 15 as we bring together our clients, partners, and friends to celebrate the New Year at Morton’s Steakhouse. To RSVP, email Leanne Ferry.
Thursday, January 2 – Reaching The Pinnacle
Despite the fact that Thursday felt more like Monday, I returned to a mountain of email messages. In the afternoon, we traveled to beautiful downtown Innsbrook to present our Discovery Report to the friendly folks at Pinnacle Living. Pinnacle, formerly Virginia United Methodist Homes, operates the Hermitage senior living facilities in Richmond, Roanoke, and Alexandria, in addition to Cedarfield. We met with CEO Chris Henderson and his team. They were very excited about the presentation and ready to kickstart 2020 marketing plans. They were also excited that we brought Red Eye Cookies, but alas, who wouldn’t be?
Last night my beloved VCU Rams improved their record to 11-3 after defeating the “other” Rams by 18 points. VCU brutally beatdown the Bronx boys from Fordham to officially go 1-0 in the A-10 and I really really really must like our Copywriter Derek Fair, because I gave up my tickets to let him go to the game last night. #ThankGoodnessForESPN+
Friday, January 3 – T.G.I.F.
The Madison+Main-iacs spent this morning hard at work, literally. They assembled new desks and rearranging workspaces on the first and second floors. #NewYearNewOffice Meanwhile, Creative Director Art Webb, Director of Account Services Kaitlin Thomas, Director of Business & Marketing Leanne Ferry, and I managed to escape the office mayhem by hitting the road to pitch a potential new client in Tidewater. Keep your fingers crossed, I may have good news in next weeks Weekly Report.
A Few of Our Favorite Events
M+M New Year’s Media Mixer
111 Virginia Street | Richmond, VA
January 15, 2019 | 5:30 – 8 p.m.
Join the Madison+Main-iacs Wednesday, January 15 as we round up our clients, partners, and friends to celebrate the new decade at Morton’s Steakhouse! Our New Year’s Media Mixer will include bar bites, a cash bar, and great conversation. Learn more or RSVP by emailing Leanne Ferry!
Virginia Council of CEOs Quarterly Luncheon
422 Westhampton Way | Richmond, VA
January 22, 2020 | 12 – 1:30 p.m.
Virginia’s unemployment rate (2.6%) is the second-lowest since 1969. The single biggest issue for most small businesses is workforce. The companies that do succeed in finding talent are doing it in creative and systematic ways. Come out and get tips from myself, Jane Holmes (RTS Labs), Mark Smith (Midas of Richmond), and Carrie Todd (Entercom Media) on how to stay ahead in the war for talent. The luncheon is free for members and sponsors, but has a fee of $95 for guests. Register today!
Virginia Spirits Roadshow: A. Smith Bowman Distillery
1 Bowman Drive | Fredericksburg, VA
February 8, 2019 | 12 – 5 p.m.
Come join us for the Virginia Craft Spirits Roadshow at A. Smith Bowman Distillery! Tickets will include all samples of artisan spirits as well as craft cocktails from numerous Virginia distilleries; while guests can mix, mingle, and engage with Virginia distillers firsthand! Purchase any bottles you enjoy to take home — they’ll even store them at their concierge station while you enjoy the event. Save money by purchasing your tickets at the advanced promo prices vs. the day of: $20 for one general admission, or $35 for two general admission tickets.
Got an upcoming event you want to share? Can we come? Send us the deets!
“For auld lang syne, we’ll take a cup o’ kindness, yet for auld lang syne, and surely you will buy your cup, and surely I’ll buy mine.”
— Robert Burns (poet, 1788)