In December, I interviewed Greg Dubas, managing partner of Core Resource Group’s public relations and communications practice to gain his perspective on the 2024 job market for corporate communicators and agency talent.
We originally talked because I wanted to get on his radar screen as a candidate for selected full-time roles and contract work through FEND Communication. In a tough economy, I am leaving no stone unturned in my pursuit of meaningful and intellectually rewarding work.
At Core Resource Group—a full-service recruitment firm focused on communications, public relations, and marketing—Greg recruits for client companies and agencies in pharmaceuticals, biotechnology, and healthcare, connecting them with candidates targeting supervisor, vice president, senior vice president, and managing director roles on the agency side. For in-house opportunities, he works with companies seeking manager, director, senior director, and higher roles. Mainly six figures and up.
Today’s job market reminds him of the conditions faced after the subprime mortgage crisis and ensuing global financial crisis in the late 2000s. “In my years of doing this it is a little reminiscent of 2008, 2009, and 2010,” he said.
COVID-19 HANGOVER
It seems the challenges of today are piling on to some lingering traumas of COVID-19.
“Everything was shut down,” Greg recalled. “I came back to the office in late June (2020) to get out of my house. I had my first placement in July of that year. The fourth quarter was fairly strong, mainly due to a lot of healthcare, pharma, and biotech. The other strong sectors were technology and finance. Consumer packaged goods and consumer were still crushed.”
Things improved at record levels in 2021. “It was unbelievable—probably a hundred-year year,” he said. “The amount of activity was mind boggling and 2022 would have been a record year but it was down because 2021 was outer-space stuff.”
He saw a shift in late 2022. Roles hadn’t been filled because of a lack of talent. Clients were telling him budgets were off a bit, and they were going to hold off on what they were doing.
“That rolled into 2023 and it was the complete opposite of 2021—a record level in a negative way,” he noted.
Layoffs from over hiring in 2021 and 2022 have contributed to the severe lack of activity Greg saw last year. Companies are scaling back.
“As recruiters, we talk about candidate-driven markets and employer-driven markets,” he said. “This is kind of a candidate-driven market where employers are telling me they don’t need us to help recruit for certain positions.”
Due to the number layoffs, there is an abundance of quality candidates making their way to companies without the engagement of trusted recruiters.
2024 OUTLOOK: SEE 2023, CONSIDER FRACTIONAL SUPPORT
Greg doesn’t think things are going to change much for corporate communication or agency candidates until after the presidential election in 2024. “Interest rates and inflation are high,” he noted. “Agency business is off because their budgets are off. When their budgets are cut, they’re making do with what they have. If they’re losing someone, they’re allocating those billable hours among others.”
On the corporate side, Greg thinks the use of qualified contractors could trend upward, in part because the lower risks and costs versus full-time talent make them attractive to companies in need of communications support. It’s also easier to suspend work with a contractor than it is to lay someone off.
“It’s like when you look at the housing market, there’s renters and there’s owners,” he said. “When one’s off the other one’s on.”
GREG DUBAS’ JOB CANDIDATE TIPS
Target roles with an 80-100 percent fit. Fit is essential to making the cut because Greg thinks many companies are getting double or triple the number of qualified candidates per 100 applicants (four to six or more). He noted: “It’s a competitive market. I always talk about how candidates need to focus on the role where they’re an 80-100 percent fit. You’ll probably get a call.” If a 60-80 percent fit comes in and looks good, Greg thinks hiring teams might say, “let’s call them and figure this out.”
Stand out going for high-fit B roles. The minute Facebook, Starbucks, Pfizer, or Coca-Cola post nice-looking jobs, everyone is applying for it. “The odds of getting recognized are tough,” Greg said. “I always say go for the job not everyone is applying to where you’re going to have a higher percentage for success. You’re going to get more activity going for the B job than the double-A job.”
Craft and summarize your fit. “When I have a candidate,” Greg said, “I tell them to tailor their resume to the job and sometimes I have them submit what I call a summary of fit, which is basically a cover letter highlighting their successes and skills for what the company’s looking for.”
Greg’s clients are typically national companies seeking candidates for positions east of the Mississippi River with an emphasis on New York, New Jersey, Massachusetts, and Pennsylvania. He is based in Mountainside, New Jersey and you can reach him via Linkedin, email, or phone.
About the Author: Dave Schuellerman is a professional writer and communication consultant with 30 years of experience helping B2B and B2C companies inform and influence targeted audiences. Learn more about his background, perspective, and available services, including fractional support, at FEND Communication, Ready to engage on a project? Reach him directly at schuellerman@gmail.com.
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