There is a time honored belief that when a business survives the hardest economy, it will emerge successful and a company to be reckoned with. The thinking is what it has learned during the recession will work to its advantage when the economy turns around.
Carl Schramm, President of the Kauffman Foundation discuss in Inc.com why some of the reasons a business that starts up during the recession is often slated for greatness. Among other things, Schramm notes that through the seventies, eighties, and nineties, start ups were quick to rebound, after the respective recessions. He notes that metrics indicate that there are fewer startups at the beginning of a recession and many more as the economy begins to turnaround. It is well worth reading the entire article and following his logic on the website provided.
As a background checking company who specializes in pre-employment screening, Corra Group sees some of its clients experience robust growth. Some are start ups, and some were established not all that long ago, have languished and now have begun to grow. These are employers who are hiring people. They are hiring IT people, managers and the relevant support groups.
While the economic downturn has forced some companies to pare down and layoff employees, there are others that are ramping up. Our clients in the health care industry, in general, have remained pretty steady, and some of the manufacturing companies are now beginning to hire again. While consumption is down, there are still certain necessities that people and businesses ultimately need to replace. While sometimes it pays to repair what you have, there are other occasions when buying new, the updated whatever with advanced technologies is often far more cost effective. Like most of us, companies will hold out and then figure they are either in business or they are not in business and will start to replace their worn out machinery and technology.
As an employer, it is helpful to read Schramm’s article. If nothing else, it will give you, as he says, a glimmer of the silver lining.
Check them out before you hire.
