If you read the recent story in the San Francisco Chronicle, reporting survey results about hiring in Silicon Valley, you’d be pretty discouraged. Here’s the Chronicle’s headline: “Silicon Valley CEOs describe bleak job market.”
The survey, of 148 companies and performed by the Silicon Valley Leadership Group, reported that 4 in 10 companies cut jobs last year. Nearly 42 percent of the companies said they’d cut jobs since January 2008, compared to an average of 12 percent for earlier.
Shall we file this one under “Gloom, Doom,” and buy into the despair? Not so fast. On the flip side, what this survey tells me is that 6 in 10 companies did not reduce their workforces last year. And if you’ve got 42 percent of companies cutting jobs since January 2008, that means 58 percent have not cut jobs.
More to the point: I’ve sat at the table with fellow business executives at 3Com Corporation and Cisco as we made decisions on cutting budgets and headcount. But usually, after the cuts were made, a funny thing would happen. Managers with “special projects” would ask for special consideration to fill one or more all-important new positions.
And so, in my experience, at the moment some employees are being escorted out the front door, new employees are entering quietly through the back door. You could be one of them.
Go for it.
For a complimentary consultation, please call Nick Parham at (415) 602-5595. Or send e-mail to [email protected]. I have offices in San Francisco and Silicon Valley.