Prof. Appleby's Blog

You’ve heard of the elevator pitch – the 30-second sound bite that an entrepreneur can deliver that captures the essence of his or her business model?  What is America’s elevator pitch?  If you were traveling abroad and someone asked you what the United States is all about – what would you say?

We had a discussion yesterday about strategy, emerging markets, and geopolitical issues.  I started thinking about our elevator pitch.

I’m not sure that we even have a national vision.  It seems like we have competing, diametrically opposed visions. And a national strategy?  Have you ever heard anyone even suggest that we have a national strategy?  Maybe we do.  Maybe we don’t.  I don’t know.  But I don’t think the party platforms that get rolled out every four years are quite what I’m talking about.

I get the sense that our global competitors (for I’m certain that’s how they view themselves) have strategies… and they seem to be working.

I’d feel a lot better if I knew that we had a really smart national strategy.  You know, one where we remain strong and free and prosperous?  Where we create jobs, develop and retain top technical talent, encourage innovation and achievement… that kind of strategy.

And it might be an encouragement to smart, young Americans who can’t find a decent job and who think our best years REALLY ARE behind us.  Yeah.  That would be cool.

Is the social media site LinkedIn the future of corporate recruiting?  It certainly is, according to John Campagnino, the head of global recruiting for Accenture.  Accenture is looking to hire around 50,000 people this year alone and they estimate that 40% of their hires (over the next few years) will be made using social media.

LinkedIn has something on the order of 60 million profiles that corporate recruiters can sift through.  There were over 17 million visitors to LinkedIn in February.  Every Fortune 500 firm is represented there.

LinkedIn has become a disruptive force to traditional recruiting firms.  It provides a window into an enormous pool of talent with access to their resumes, work experience, interests (for example, groups they have joined), and recommendations.

There will continue to be a need for recruiting firms, of course.  Arlette Guthrie, vice president of talent management at Home Depot, points out that the LinkedIn talent pool is largely composed of corporate professionals, so she uses it primarily for supply chain and information technology professionals.

But there is no doubt that LinkedIn has become a major factor in recruiting.  If you’re not making use of it, you probably should be.  If you are, you need to be smart about how to use it effectively.

There is a good article in the April 12th issue of Fortune Magazine that will give you some added insight.

Feb. 27, 2010

Long-Term Joblessness “Off the Charts”

Hitting Middle Class Particularly Hard; Millions of Such Jobs Gone Forever, Reports John Blackstone

via Long-Term Joblessness “Off the Charts” – The Early Show – CBS News.

You should read this article.  But, if you miss it, don’t worry.  These stories are becoming everyday occurrences.  There are two points from the article that I’d like to highlight:

1. In the last 10 years, according to Lakshman Achuthan, managing director of the Economic Cycle Research Institute, “… 8 million jobs have gone and there (sic) not coming back, ever,”
2. A former restaurant owner is starting a catering business. “Many more may have to follow [her] lead and find something they can do themselves – even though launching her catering business has been daunting, especially since she’s doing it on her own. ‘It’s just really frightening.’”

Our economic landscape has changed and, though I’m tempted to say forever, I’ll avoid the hyperbole and simply suggest to you the following:

If you plan to wait around for “big business” to offer you a decent job, you’re in for a long wait.  If you plan on an employer (business or government) looking out for your long-term interests, you’re in for a disappointment.  My advice is to start your own business and understand that you’re financial success is up to you.  Sure, some people are going to get the inside track and may get a piece of the ever-diminishing pie – but for the average guy, you are on your own, my friend.

I’m not trying to sound “doom and gloom” – but I’m absolutely convinced that the key to success is in your own hand and it will require initiative, and hard work, and probably long hours.  Of course, there was a time when everyone understood that to be the case.  Well, those times are back.