Notes from the SIA Executive Forum
Posted by jtarabini on March 22nd, 2010Last week’s 2010 Staffing Industry Analysts Executive Forum in Las Vegas gathered more than 500 senior executives from the staffing industry for three days of learning and networking. The conference, the 19th annual, had a theme of “The Upside of the Downturn…Thriving in a Brave New Staffing World.” Representatives from many “brand name” companies (Manpower, Allegis, Spherion, and others) were in attendance, in addition to hundreds of others from up-and-coming enterprises.
In reviewing the state of the staffing industry, new SIA president and chief analyst Barry Asin struck a cautiously optimistic tone in his opening keynote address:
· U.S. staffing revenue was down 26% in 2009, but is expected to grow 5% in 2010
· The Economic Cycle Research Institute (ECRI)’s leading index indicates growth
· Unemployment claims were down in February
· Bureau of Labor Statistics shows Temp employment heading higher
While his talk was optimistic, he tempered his remarks in light of the ongoing challenges many companies face, including continuing pressure on margins, market consolidation, and the vagaries of an unsettled economy. Among the keys to achieving success, Asin says, are critically assessing the markets you compete in and refining your positioning (find a defensible niche).
Geoff Colvin, author and senior editor of Fortune Magazine give a fascinating address entitled, “The Upside of the Downturn: Ten Management Strategies to Prevail in the Recession and Thrive in the Aftermath.” As the economy recovers, the business world we’re entering won’t be anything like the pre-recession world. What is the new normal? What are your most valuable assets? Dramatic changes aren’t necessarily dangers – they’re typically opportunities for companies and leaders that respond fastest and smartest.
Among his recommendations on how to ensure that your business moves from recession to recovery:
· Evaluate employees better. In good times it’s easy for employees to look like stars, so evaluations tend to be less rigorous. In tough times it’s much easier to distinguish the true stars from the third-stringers.
· Set new priorities to confront new realities. Example: Government is taking a larger role in the life of every business. The global economy is becoming less U.S.-centric. What are the ramifications for your business?
· Find new solutions to new problems; don’t just discount prices on current inventory. Develop a creative culture that looks for needs customers didn’t know they had.
· Re-examine your business model. What is your essence? The core? What is the one thing you’d never cut? Also, what is the profile of your customer base, and has it changed with the recession? Take a look at your industry – has it changed fundamentally, or just been thrown off a bit?
· Grow yourself. Expand beyond your previous limits. Be seen early and often. Act fast. And show fearlessness; employees want their leaders to demonstrate that they’re not afraid. In business that means facing bad news head-on without cringing.
Separately, the SIA conference breakout sessions were also worthwhile, with each finishing with a list of actionable takeaways. Overall, the 2010 Staffing Industry Analysts Executive Forum was a worthwhile event that provided a good snapshot of the development of the industry.
For more about how to intelligently use the high-end of the flexible workforce, visit www.msquared.com or call us at 888-818-2505.

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