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Gingerly We Recover

“Slowly and tentatively, some companies are rescinding pay cuts made during the recession,” the Wall Street Journal reported in a feature article yesterday. Notwithstanding our optimistic view of a recovery, the article jolted me back to the reality that this “recession” is far from over on the employment front. As the recession took hold, companies across the board instituted reductions-in-force, as well as established four-day work weeks, salary scale-backs, elimination of 401(k) matching, and other cost reductions on the compensation front that are slow to be reversed (just like the egregious “extras” airline fees). And, instead of reversing these cutbacks, companies are hiring interim consultants to fill in the gap with variable 1099 expenses, versus having full-time employees return with their attendant tax and benefits load. This is truly a different and slow recovery on the employment front.

Tony LoPinto is a senior client partner and head of Korn//Ferry International’s Real Estate Practice and founder of SelectLeaders. The views expressed in this article are the author’s own.
Job Opportunities
COLLIERS INTERNATIONAL Director –Marketing and Communications, USA (NATIONAL) Colliers seeks a Director – Marketing and Communications to develop and implement marketing and communication strategies; manage and promote all service lines within Colliers International and the affiliated FirstService Real Estate Advisors portfolio in the US; and develop the structure and resources required to execute marketing plans at the regional level as well as at the local market level. Bachelor’s degree required. Seven to 10 years experience also required.
HARBOR GROUP INTERNATIONAL Senior Analyst (NORFOLK, VA) The senior analyst will be responsible for obtaining financial performance data from a variety of sources, including calls to property managers, asset analysts and others, and evaluating and auditing data to ensure accuracy; and prepare reports to investors, potential investors, executive management, etc.; among other duties.

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