What’s Happening Out There?

In the Q1 issue of this newsletter we wrote about the situation we had seen up to that point. We had seen a few layoffs of BV talent across the country. We asked, rhetorically, whether it would get worse. Using a crystal ball which proved to have a limited warranty, we answered: Not materially.

Here’s our updated perspective:

Layoffs in larger numbers have been seen among larger practices. Even smaller ones have shed professionals here and there.

The total number across the country may not be material relative to the total number of professionals in the industry. But, try telling that to the person who is now without a paycheck.

The supply/demand pendulum has swung in the direction of employers. Those who are hiring have more options. Quality talent will always be in demand, however.

Employment is a lagging indicator. In that sense, it’s no surprise that the belt-tightening that we see elsewhere has reached BV. What may be worse is that, out of an abundance of caution, BV practices are likely to “do more with less” longer than they may need to.

None of this means you can’t make a good career move. You just have to make a smart one. Contact us for perspective you can’t get anywhere else.