Summer 2014, State of the MarketWritten on August 5, 2014
Summer 2014, State of the Market
As I’ve scrolled through my Facebook feed over the past two evenings, I noticed, along with most others, an article citing Richmond, Virginia as one of the Ten Happiest Metropolitan areas in the United States (I swear, half of my friends shared this article). It’s pretty amazing to experience the pride and excitement around stories like this throughout the Richmond market. Furthermore, Newport News, Washington DC, Raleigh, and Atlanta round out the top five “Happiest” cities which are all markets the team at Morton Consulting supports day in and day out. To add to this, Richmond was also named one of Frommer’s Top Destinations for 2014. Needless to say, our team is HAPPY!
We are all now entrenched in the Dog Days of Summer and most can speak to the fact that things do tend to slow down a bit during the summer months. Fortunately, this has not been our experience in the summer of 2014. In terms of new Job Orders, we are up 13% from last year and in terms of new Starts, or candidate placements, we are up 15%. We view this as a positive trend and our hope is to continue seeing these numbers rise throughout the remainder of the summer and year. But wait, summer isn’t over yet…..
With a very strong May, June and July we have seen things slow up in this last full week of July. Not as many fresh Job Orders, not as many new Candidates, and the flow of activity has definitely slowed. Why is this? Is everyone within our customer base taking a vacation this week? It would be nice if EVERYONE was taking vacation this week so that we didn’t have to worry about this the remainder of the summer, but that simply isn’t the case. While the flow of activities might not be moving as fast as everyone would like, we are certainly using this time wisely to engage new candidates, strengthen pipelines in critical areas such as .NET and Java, improving processes for increased quality and efficiency, and strengthening partnerships with new and existing customers.
This is a very exciting time to be at Morton Consulting and in the Staffing Industry. The landscape for opportunity and growth couldn’t be more positive in the summer of 2014. We believe demand will continue to be focused around development in .NET, Java, LAMP, and other specialized areas which unfortunately have lower supply levels. What is amazing for this market is the positive press regarding great places to live and work. Not mentioned above, but definitely worth mentioning is Blacksburg, Virginia. Blacksburg is a focus market for Morton Consulting and was recently named the Best Kept Startup Secret in America.
One benefit that I believe many are realizing in our business and recruitment in general, is that when you work in a strong market, attracting the best talent to that market becomes much easier. With some of the challenges surrounding supply in specific talent areas, it’s promising to be supporting some of the top markets throughout the United States.
Director of Operations