Human Capital presents… How will things change when it comes to candidates?

"All failure is failure to adapt, all success is successful adaptation."

-         Max McKeown

I find lately that it's hard even to remember what day of the week it is, let alone feel as though I've gained an understanding of where we are headed. The world is in a state of upheaval. I have no intention of downplaying the Covid-19 Pandemic catastrophe and all the lives that have been lost. Unfortunately, the pandemic followed by the tragic murder of George Floyd has brought to light the long-standing abuses by criminal cops and the underlying systemic racism in our society. I am continually hopeful that positive change will come from these events, and we will begin the healing process and the road to end racism, both overt and systemic.

These events have me pondering how the business will change. Years ago, the internet changed the way we conduct business. Far too many people thought it was a fad, a temporary thing. But it quickly becomes a choice to adapt or die. As people continue to shelter-in-place and state Governors pivot, companies forced to change the way they conduct business. The importance of the geographic location of employees to a company's headquarters is shifting. Based on recent analysis by some of the largest real estate firms, data has been reported that close to 30% of Homebuyers are relocating to affordable locations outside of metro areas. Geography is fast becoming less of a factor in where an employee lives versus works.

In nearly 22 years of Executive recruiting, I have seen high caliber; quality candidates passed over because they refused or were unable to relocate. I've seen companies lose out on someone who fits the bill entirely only because they don't live near the corporate office. That is quickly changing, and the possibilities are limitless.

Had this occurred just ten years ago, the economy would have come to a screeching halt. The tools and resources available today weren't as efficient or effective as they are today. Technology tools like Zoom, UberConference, Microsoft Teams, and Google Rooms have made it possible for entire companies to run productive and organized meetings. I recently spoke with an Executive at a sizable brokerage that said that there is a significant cost saving in having Zoom meetings over face-to-face, but that his overall attendance is significantly better.

For companies looking to fill positions with quality candidates and are not concerned with location, the talent pool has opened up significantly. I grow as weary as everyone else with the "new normal" term thrown around, so instead, I like to refer to it as the "expansion of opportunities."

As I had mentioned in my open letter titled, During these trying times…, I am optimistic that we will emerge more durable and stronger. The only way out of these events is through them. The path to healing is never an easy road, but perseverance and positivity will see us to the next stage.

In the meantime, stay safe, my friends, and remain hopeful that good things will emerge from these difficult times.

About Stephen Kowalchuk:

As Managing Director and Partner of CMA – Corporate Management Advisors Stephen has been an instrumental moving force behind staffing, many of the top industry-leading companies in Real Estate. With over 20 years of experience, he has worked alongside executives In the areas of Residential Brokerage, Finance, Technology, and Vendor Services to the Real Estate industry. His passion for matching up top candidates with established and aspiring businesses is unparalleled in the industry. In his spare time, Stephen is a devoted family man who enjoys travel and has an intense zeal for music and art. https://stephenk.works/ and LINKEDIN.