On Friday I had the pleasure of taking part in a panel discussion with graduate students from Northwestern University’s Masters of Science in Communication program. The topics covered included: career paths, job search and the effects of the current economy for recent graduates.

Here are a few of the insights that I gathered and shared with them:

 Masters of Communications vs. MBAs:

We ran a quick pool of several senior level marketing and communications professionals to get their take on the value of a Masters of Communications.  As of today 51 have responded. Nearly 50% said it gave a professional a leg up or was “a must”.  Only 17% said other degrees are better.  The poll is still live. Feel free to participate and check out the results: Poll

Compensation:

One of the trends we are seeing is a polarization of compensation. The top 10% of earners within marketing and communications make at least 50% more income than the average earnings of the bottom 90%.  An article in Marketing Week from the UK gives a global view of this trend: ‘A New Age of Austerity Hits Pay Packets Hard‘

 Where the Money is: 

• US owned companies compensate these Marketing and Communications roles better than their European counterparts.
• Digital natives (those who have worked within online marketing from the beginning of their careers) earn a significant premium in compensation.
• High performing employees may be in a great position to negotiate. 70% of companies reported that they were concerned that these high performing employees may leave.

The Economy

Yes, the economy is difficult. But the anxiety caused by high unemployment numbers is often worsened by media oversaturation. The staggering numbers (8.4 Millions jobs lost since the recession began – Bureau of Labor Statistics) do not provide a  perspective on how communication  professionals will be effected. While white collar workers did experience some of the wrath of the poor economy, they were not affected to the same degree as those without a bachelor’s degree. Bureau of Labor Statistics Education Pays Graph.

 On the bright side:

• The Unemployment rate recently fell to under 10%.
• In January there were 5.9 job seekers on average competing for each job -  a significant decrease from the pervious month
• There were 2.5 million job openings in December 2009- a significant increase from November
• Even with 14.8 million people out of work, there are an estimated 137 million employed.
• A Towers Watson survey released Dec. 2009 states that the number of polled companies that plan to freeze or reduce hiring dropped by half to just 33%. Click here to see the Study
• Marketing, creative and communications professions make up only a very small percentage of the total work force and unemployment rates among those ranks are generally much less than the national averages.
• In surveying the January job postings for Communications roles several groups were up. For example- Internal Communications increased 9%, Communications Managers increased by 10%.

So take a deep breath and start regrouping for the big surge ahead that will surely follow this economic turmoil.  It is time to get back to the hard work – figuring out what you are truly passionate about. Trying to guess the direction of the market, following the hot industries of the moment will never create the foolproof career plan. Being passionate about your chosen path will make you more attractive to employers regardless of which way the current trends are blowing.

Employee vs. Contractor

Temporary employment is becoming the new norm. As companies remain fiscally conservative and credit strapped, they are reluctant to bring on a permanent head count. Marketing, creative and communications departments have had experience with this model for years. This will continue to be a growing trend into 2010 and potentially far beyond. From junior assistants and mid-level specialists to the most senior level strategic directors – contract vs. employee is an important part of the mix. Check out two articles on the subject:

‘Temporary CMOs are Here to Stay – for Six Months or So’ - Brandweek

‘Recruiters See Jobs Pickup in 2010 Despite Concerns’ – Wall Street Journal

As always, I came away from the panel discussion super charged. The talent, dedication, drive and passion these professionals have reminded me why I love this field so much- a big Thank You to the school for inviting Paladin to participate.

Over the last few months, several of our corporate clients have discussed significant changes in how they execute their marketing and communications efforts. Several are planning to drastically shift how they use their agency partners and will bring key projects in-house. Others are looking to outsource marketing and creative functions to concentrate on their core business. These clients differ across industries and size including global b-to-b manufactures, financial services firms, non-profit organizations and professional services firms. Because of the number of clients grappling with the same issues, we want to dive in further to find out if these are unique occurrences or growing trends.

We are turning to the marketing and communications community to hear from you. How are you executing marketing and communications efforts?  Take our poll and check back for results: TAKE POLL NOW

In the mean time, here are a few articles I have come across recently on related topics that may also be of value in this discussion. Feel free to share your comments, insights and opinions on the topic here and on our poll.

Tough economy forces marketers to reorganize http://tinyurl.com/yfjghjd

Small ad agencies go over big http://tinyurl.com/yg98soe

Down economy drives small businesses and EAG http://tinyurl.com/yghcv6h

Marketing Business Services in Down Economy http://tinyurl.com/yl8etfc

Avoid the temptation to cut marketing budgets http://tinyurl.com/yf9ahe2  

In-house SEO vs. SEO Provider http://tinyurl.com/yf87yr9

Whether you are a frequent Twitter user or not, you most likely caught wind of the new Twitter trend known as “Twitter Lists.” It recently launched and I’ve already found it useful for personal use as well as for Paladin. A Twitter List is a new way of categorizing the people you follow and their tweets by your own preference.

Over the past few months, I have helped oversee the social media networks for Paladin with most of my focus on Twitter, Facebook, and LinkedIn. I find Twitter to be useful as a quick, interactive site to connect with our candidates and clients. The Twitter Lists now help us organize tweets from candidates, clients, marketing/creative/communiations associations, publications, news, events, etc.

Are you ready to create a Twitter List? Well, do you follow someone, but they are often overwhelming your home page and keep you from noticing other updates? Do you follow a variety of tweeters, such as celebrities, news, and job search firms? Are you ready for more organization within Twitter? If so, it’s time to get started! So…how do you create a Twitter List? I’ve listed a simple version, but if you are a visual learner, like me, the website below will give you detailed version: http://tinyurl.com/yjkle2n

1. Click “create a list,” a dialog box should pop up on your screen
2. Name the list to a category you want your followers to fall under
3. Search and start following tweeters under your list
4. Another way to search is to go through your followers’ profiles and click the button on the right labeled “manage lists” and add to your specific list (this option also allows to create a list in case you think of something on the spot!)

Twitter will give you the option of making the Lists private or public. If a List is public, you can follow other tweeters’ Lists and groupings.

Will this make Twitter more confusing? We don’t think so, in fact it makes Twitter more friendly and organized. The guys behind Twitter are predicting it will increase the number of new users. Twitter also promises the the roll out of List descriptions within the next week so public lists are easier to understand and, in turn, create more followers.

Let us know if you have created a Twitter List. Why did you decide to create a list and has it been helpful? @PaladinStaff has already been added on others’ Lists under the labels such as career, HR recruiting, work, etc. We also have started our own Twitter Lists to help us categorize marketing, creative and communication news/updates. Follow our Lists and let us know what you think.

@PaladinStaff/marketing

@PaladinStaff/creative

@PaladinStaff/communications

The old adage that “time flies when you’re having fun” really hit home for me this morning. As I was reflecting on the last ten years I’ve spent in the professional working world, I realized that one of the common denominators in each of my positions has been healthcare. 

I began my career on the public relations side, working with healthcare systems and big pharma. That interest has carried over into my role in the recruiting world. In the last four years at Paladin, I’ve worked with nearly 30 healthcare associations, providers, insurers and pharma companies, providing a vast array of talent for marketing, creative, programming, membership, training, event and communications departments.  Working with marketers and creatives in this space has allowed me the opportunity to stay abreast of trends, pressures, challenges and nuances in the field.

To get an even deeper understanding of these trends, I launched a survey of my healthcare association clients last month. The goal was to better understand the marketing, membership and staffing trends within these organizations.  I think you’ll find the survey results interesting.

A few key findings:

- The healthcare association world is a “healthy” one, despite the turbulent U.S. economy. The majority of respondents noted that their overall membership base in continuing to grow and that from an organizational perspective, they plan to continue expanding in other markets.

- As with many organizations, healthcare associations are embracing the new social media movement and offering new online and interactive forums to help their members and employees communicate. Facebook and Linked-In are becoming the top social media tools in the communications arsenal of these organizations.

- In order to remain competitive, healthcare associations are expanding their product and service offerings in 2009, including e-learning programs, online conferences, and social  media tools.

I encourage you to review the full survey findings in the hope that you’ll be able to leverage them as you continue to build marketing and communications campaigns and products for your members this year.

http://www.paladinstaff.com/promo/survey-results/

I also welcome your insights and hope you will help create a larger dialogue on this topic.  Feel free to comment here, or to contact me off-line with questions, ideas, suggestions, requests or additional resources: elise@paladinstaff.com.