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Covering Cutbacks Survey: Do you think we have hit Bottom? ( surveys)

The growing economic crisis has precipitated one of the most significant cutbacks in organizations across the real estate industry, ever. An interesting by-product of this situation is the “worker-bee” shortage that reductions-in-force have created in companies. Typically, cutbacks hit lower and mid-level professionals the hardest, the group that gets day-to-day projects done, such as project research, PowerPoint presentations, number-crunching and the like. This puts a burden on higher paid executives, diminishes their productivity and reduces critical management time, as they are forced to focus on the small stuff. An interesting approach to this situation was reported in the March 23rd issue of Business Week. Pfizer has created PfizerWorks, which allows its professionals to outsource these projects to workers in India: send it at 4 p.m., and the project is back when you return to work the following day. The idea appears to be working. It made me think that there must be entrepreneurial types and groups that are putting this sort of service online. It might be worth investigating.

Tony LoPinto is CEO of Equinox Partners, an executive search firm specializing in the real estate industry, and parent company of SelectLeaders. The views expressed in this article are the author’s own.
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SELECTLEADERSSenior Property and Asset Manager(SILICON VALLEY, CA) The manager monitors all financial, banking and business dealings of assigned portfolio, creates annual budget, business plan and occupancy goals; and routinely maintain adherence to budget and addresses areas of variance.

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