RDC Articles

Flip Side of Slowing Economy and Layoffs
Philadelphia Business Journal, February 16-22, 2001

Dot-coms going belly-up. Layoffs at both startup and established companies. A growing number of bankruptcies. Rising unemployment. Shaky stock markets. While not exactly the recipe most businesses like to see, executive recruiting firms say it's good for them.

"There's a real demand on the hiring front," said Christopher J. Bilotta, president of Resource Development Co. of Blue Bell, predicting his firm will repeat last year's placement rate of 35 to 40 executives.

Bilotta said layoffs are bringing more people into the job market, although companies hiring now often are seeking different skills. Technical skills are popular, while interest in sales and marketing experience remains strong. The flip side is less interest in production manufacturing continuing a trend that dates back to the 1980s. Manufacturing increasingly moves out of the country or is contracted out, he said. "E-commerce (experience) is something just about all our clients are looking for," Bilotta said.

Full story. Andy Gotlieb. "Slowdown's good news for exec search firms" in Philadelphia Business Journal, (February 16-22, 2001)