TWC Group :: Press Archive

Collegeville, PA (February 13, 2001) – The slowing economy, combined with layoff announcements by major companies like Lucent, AOL/Time Warner, Motorola, and CNN may be a relief to employers who have had trouble filling jobs. According to Terry Williams, President and CEO of T. Williams Consulting (TWC), the surge in layoffs will certainly increase the volume of job applicants. However, the layoffs may only have a marginal effect on the quality of candidates available. Even with the layoffs, some of the best talent will still be employed.

On the other hand, the cooling economy may lessen the recruiting challenges faced by some companies that were promising large referral bonuses and expensive benefits and relocation packages to fill openings that are particularly hard to fill. Today, a large number of young emerging growth and eBusiness companies are struggling. With the slowing economy, some of those firms may fold or be acquired by larger, bricks-and-mortar companies. In those instances, great talent may find themselves unemployed.

“The new pool of top-quality laid-off workers shouldn’t have any trouble landing new positions,” says Williams. “In a slower economy if will merely take them three weeks or a month to find a job, rather than two weeks. Despite the layoffs, our economy continues to generate more jobs than hires.”

“Great engineers, software developers, and other technical workers can still toss out a resume and get 30 offers the next day,” he adds.

The slowing economy is also bound to affect investments. Last year, TWC began partnering with venture capitalists, incubators and accelerators to provide strategic staffing support to their partner companies. Investors in fast-growth companies want to protect their investment by helping their start-ups find the best talent.

“The increased pool of highly qualified workers will help companies to gain competitive advantages with respect to talent acquisition and will lessen the risk that their investors have to take. It’s all about building world-class businesses. As some doors close, others will open,” says Williams.

Founded in 1996, T. Williams Consulting (TWC) is a world-class management consulting firm specializing in strategic staffing. With headquarters in Collegeville, PA and offices in Washington, DC; Chicago, IL; and Phoenix, AZ, TWC provides staffing assessments, on-site project staffing, mission critical retained staffing, and staffing process and systems consulting to high technology companies in a variety of industries, including eBusiness, Biotechnology, Pharmaceuticals, Telecommunications, and Finance. Additional information about TWC may be found at www.twcgroup.com.