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.

Paladin is pleased to announce our 2009-2010 Sponsorship with the Chicago chapter of the BMA (Business Marketing Association). BMA/Chicago chapter is the largest BMA chapter with over 450 active business marketing professionals. Members of the BMA are able to experience face to face time with the nation’s top b-to-b marketing professionals at networking events, luncheons, and breakfast roundtables. Check out the calendar of the events for the year and be on the look out for our Paladin team at events. We look forward to an exciting year!

http://www.bmachicago.org/events/upcoming-events

Lately, I’ve been reminded that business Web sites often come in one of two flavors.  Perhaps you can recognize them:

1. What we do – These are sites that focus on attracting business.  They devote most of their pages to describing their services, human capital resources, success stories and the like.
2. Who we are – These are the sites that have chosen to focus on attracting talent.  A significant percentage of the site is devoted to recruiting, so they showcase the work experience, profiles of their office locations and career opportunities.

These are broad brush-strokes and there’s nothing inherently wrong with either approach.  Of course, some overlap occurs when talking about the work experience (showing a potential client how thorough you are) or describing your services (showing potential recruits the level of impact they can have).  Many sites dedicate space to both services and recruiting.  But they could be so much more.

The best sites offer a third option, one that combines the flavors above with a way that keeps clients, prospects and potential new hires coming back again and again.

The knowledge site

Call it the Neapolitan solution because it’s three flavors in one – services, recruiting and knowledge.

The difference, of course, is in what knowledge you make available.  The idea is to make the knowledge you share valuable and useful without giving away the store.  Give them just enough new information on a regular basis – or provide access to a database of information if that aligns with what you do – to whet the appetite or keep you top of mind when the time comes to actually purchase your services.

If you’re a design firm, for example, you could offer case studies on how good designs have made a difference between success and failure in a campaign, or offer tips for how to approach branding, color or layout.

Professional services firms can present examples of best practices in operational efficiency or performance management.  Publishing companies can offer reviews and insights culled from their latest editions.  Industry news, white papers, articles, summaries of round table events – the opportunities to position your organization as a valuable resource are endless.

This isn’t a difficult or particularly new concept but for some reason it’s a rare one to see being utilized.  But examples can be found: just look at what Paladin is doing by publishing these blogs.

What kind of a Web site are you?

It’s not easy to do this.  It takes imagination, management appetite, resources and, just as important, maintenance.  It takes collaboration over the long haul to create the content and promote its existence on a regular basis.

It’s long past time when a company could get away with being an electronic brochure.  The war for talent and the fight for business demand that you reach out to clients and prospects – or give them a reason to reach out to you.

Small businesses are especially vulnerable these days and are looking for ideas to generate revenue.  The good news is that those ideas are right in front of them, in the knowledge gained through the experience of their people, the tools they use, and the services they provide.  The not-so-good news is now that knowledge needs to be transformed into a format where it can be shared.

But it can be done.

Do you have any examples of favorite sites that exemplify the Neapolitan approach?  Remember what your mother said about sharing…

I’ve been fortunate to deal with some great recruiters, both as a client and as a candidate.  And I’ve been unfortunate, on occasion, to have run across some who clearly should have pursued careers in trench digging, coal shoveling, grape stomping or other fields requiring aptitude in wielding a blunt instrument.  The lack of functional expertise, responsive service, and simple finesse in professional staffing is sometimes laughable, and not in a funny ha-ha way.

True story:  A recruiter, who maintained he “knew marketing up one side and down the other,” asked if I had experience in preparing advertising and brochures, promotional materials and the like.  I said I’d developed numerous integrated campaigns with advertising and collateral.  He replied, “Collateral is fine, but what about brochures and promotional materials?” He wanted me to drop everything and immediately re-write my resume, which I did, and then he didn’t follow up for weeks, even after repeated phone calls and emails.  When he finally called, he said he’d never presented me to the client, and commented snidely, “you’re not a good fit but do you know anybody else who is?”  The problem wasn’t that he’d decided not to present me — my issue was that he refused to explain why, that he took so long to do it, and that his attitude reflected the clear assumption that he held the more important position in our relationship.  I was disappointed — but more importantly, I was unimpressed and vowed never to work with the guy in the future.So here are just a few basic tips I think could potentially be valuable for both recruiters and candidates as we all navigate the (hopefully) soon-to-come swell in recovery-related hiring:

 Know the WorkCandidates should know something about the client’s business, even if industry experience isn’t required. Recruiters should know something about the actual responsibilities – don’t just take the client’s job spec and dump it into your template. Ask questions until you get what’s really required.

Follow Up ProperlyThis is so simple, but it’s amazing how many candidates can’t find the right balance between staying top of mind versus being a stalker.  Recruiters should tell candidates when they expect to present to/hear from the client. If the recruiter doesn’t discuss a follow up plan, candidates should simply ask “how/when may I re-connect with you on this? Both clients and candidates should return phone calls promptly; it’s basic courtesy.

Respect the ConnectionThe best recruiters and candidates know that establishing a strong relationship is key to years of future success for both. If you’re a recruiter, try to remember that candidates (especially those who are in transition) are not commodities – they’re flesh-and-blood humans whose lives may well depend upon your engagement; if you’re a candidate, remember that your recruiter works for his/her client, not for you, and has to pay attention to the buttered side of the bread.  If you can unite — finding that middle ground of mutual respect — you can cement those relationships effectively and enjoy many successful placements as a result.

Monica Levy blogs about the good, bad and ugly in marketing and communications at http://www.monicaonmarketing.blogspot.com.  You can follow her on twitter at http://twitter.com/mjlevy.