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.

You know that the time will come when the “employer market” will change back to a “candidate market”.  My friends, that day is fast approaching!  For those of us who went through this cycle in the 90s (yes, I was there), it was a great time for qualified talent to make a change but not so good for companies who had invested thousands of dollars and years into cultivating the talent.  Firms were often in bidding wars over candidates and many times there would be 2-3 offers up for consideration.  Sign on bonuses, relocation packages and stock options were commonplace, not the rare exception.

There are some basic steps you can take as an employer to solidify your relationship with your employee so you don’t find yourself looking for help when you didn’t see it coming.

1. Make sure your employee knows where they stand in your business.  Tell them how you feel about them.  Show them they matter in their pay, benefits and involvement in the decisions of the business.
2. Be flexible with things like time off, work hours and virtual work when possible. Today’s workplace has changed dramatically and employees are juggling much more in their schedules and the employers who offer the most flexibility will grab more of the top talent.
3. Don’t try to play the bidding game with an employee who is already looking on the outside.  If they matter to you, counter quickly and decisively if necessary but be willing to let them go their own way.  If their decision to leave is all about more money, the desire to get more will continue to be there.
4. Promote your best people and give them a clear career path that is set in your firm.  People who have been patiently waiting through the Recession for those long ago promises will not be so patient moving forward. 

As a candidate looking to make a change there are also key factors for you to keep in consideration.

1. Have your resume always up-to-date and references available.  Some jobs will appear out of the blue and you don’t want to keep a potential employer waiting.
2. Keep your social networks open and always looking for new potential matches.  Remember, other people will have the same idea as you.
3. Don’t just “kick the tires” to see what is out there.  While as a candidate you might have the upper hand, you can burn bridges and get a bad reputation with recruiters and clients that will spread like wildfire.

The bottom line is that things are improving and the market will be much more competitive for the top talent and keeping the people you already have in place.

Now is a good time to do some “soul searching” and make sure you haven’t capitalized too munch on the current market and irreparably strained the staff relationships that your business needs to continue to be successful.

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

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.