The Alcohol Industry is Back in "Hiring Mode" for 2024
Gary Schneidkraut, ML, WSET II
Vice President- Spirits, Wine, Beer & Adult Beverage / 40 Under 40
Welcome to Q4-? Let’s Get To Work
In the first half of 2023, we experienced a slowdown as companies postponed new and replacement hiring initiatives. It was no shock that the summer period tends to be a slothful period for business activities.? BUT- now is the time that organizations restore balance by addressing their objectives and team structure to enter 2024 ahead of the competition!
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“We anticipate a notable surge in [hiring] demand come September.? This expectation stems from the diminishing concerns of an impending recession and the URGENT need for companies to address the backlog of delayed positions that require filling… This change in sentiment is projected to lead to a substantial increase in the number of approved open positions.” ( Gary Erickson , Hunt Scanlon Media )
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The number of searches/roles on my desk, for Alcoholic Beverage companies and brands, has increased 100% since the last week of August!
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What Happened to Alcohol?
As a result of the pandemic, alcohol sales went through the roof.? Companies had to hire more talent to keep up with demand as well as to stay ahead of their competition (including the mass influx of new brands that entered the market over the past 3-4 years).?
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2023 was a different story… Inflation and an uncertain economy ushered in a climate in which many companies’ org charts were now too robust to be sustained.
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SipSource attributed the declines for H1 2023 to “tough comparable in 2022” along with the impact of inflation.? Danny Brager noted volume declines spread broadly across mainstream product segments and says, “It’s likely the issue is that the very high growth rate of the category over the last two years has simply caught up with us.”?
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We’re Back, Baby!
Not to fret… Brager’s prediction is that spirits should return to growth as the second half of 2023 will crucially indicate the “trajectory and health of wines and spirits.”
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According to The IWSR , alcohol eCommerce is expected to contribute an additional $10B to the sector between 2021-2026.? RTD value is estimated to rise at a CAGR of +7% between 2022-2026 (boosted by its convenient packaging). A report by Technavio predicted that the vodka market would grow by over 400 million liters from 2022-2027, a CAGR of 2.5%.
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Next Steps
Strategically analyze your company and assemble an all-star team of leaders.? People are the most important part of an organization- Don’t you think they’re worth investing in?
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After almost 7 years with Metro NY’s largest Wine & Spirits distributor, and over 5 years leading Wine & Spirits recruiting at another agency- I joined Protis Global early this year.?
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My profession is to “geek out” on the industry I have so much love and passion for, and to provide consultative executive search services.? With my trusty team of experts (sincerely awesome people), I want to discuss your company’s hiring needs and land you the best talent to elevate the strength of your brand.
#Wine and #Spirits #Hiring. The Spirits Business + Nicola Carruthers
Protis Global , Wine & Spirits Wholesalers of America , Women of the Vine & Spirits , National Beer Wholesalers Association , Shanken News Daily , Beverage Industry Magazine , LinkedIn , MRINetwork , Chilled Magazine , Wine & Spirits Magazine , Spirited Magazine
Vice President- Spirits, Wine, Beer & Adult Beverage / 40 Under 40
1 年According to Morning Brew's "Brew Review" Salesforce: Despite cutting 10% of its staff last year, the software giant recently kicked off a big hiring push by holding an event for former executives and giving them?stuffed bears?to woo them back. Crunchbase Daily shared: "Are layoffs leveling off? ... all told, we saw fewer than 100 confirmed U.S. tech jobs cut. Is it just a lull, or a sign that the brutal job cuts… this year are finally waning?" If you are an adult beverage company/brand working to rebuild your team- please contact me! My role is to understand your goals/needs and mobilize Protis Global's fulfillment team to land you absolute all-stars!! #spirits #wine #hiring #recruitment #executives MRI Network Global Search "Tell ya friends, tell ya friends!"
We're Hiring! | Research Associate | Protis Global
1 年Great article Gary! Now is the perfect moment for companies to lift their heads and bring the talent they need to prepare for an impressive start come January 1st. Gotta hit the ground running to make 2024 a year of success!
Startup Advisor, Investor, GTM + Revenue Leader
1 年Thanks for always sharing good content Gary Schneidkraut! ????