CED

November 2012

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Recruitment & Retention Observations from Industry Events Turns out there really is no substitute for talking face to face to find out what's really happening out there. BY JERRY RANDECKER & CHRIS SITTER During my career I have had the opportunity to attend numerous industry-related events. These range from dealer open house events – where local customers stop by for a hot dog and learn about a new product or just receive a "thank you" for their business – to the other extreme where international attendees number in excess of 100,000 (such as CONEXPO or BAUMA) and millions of dollars are spent to market a brand or a service. Since the financial return to attend these events cannot be easily measured, I have often asked myself and the team with whom I worked if it was all worth the effort. During the past couple of months we have had the oppor- tunity to attend three such events: n AED's Executive Forum n An AEM Product Support Seminar n MINExpo, held every four years in Las Vegas Although the purpose of each of these events is different, they all provide an opportunity to network with others in the industry. I always plan to visit with specific people – some I know and may have worked with in the past, and others whom I have heard of but never met. And I always try to meet people randomly during the event; often it is through these encounters that I learn the most new information. After attending the AED Executive Forum, I departed with the following observations: n There must be some secret code among economists that forbids them to present an optimistic forecast. Although there are numerous statis- tics showing an improved economy since 2008/2009, the presentations remained focused on the potential negative indicators, like the "fiscal cliff," still looming in the future. n 80 percent of the attendees indi- cated they intended to vote for Mitt Romney. A second question to the same group indicated that more than 60 percent believed that President Obama would be re-elected. This poll was taken in early September. n Although attendance has improved considerably at this annual event since the downturn, it hasn't rebounded to its former numbers. This seems to be econ- omy-driven, so I guess the econo- mists are right! I'd like to encourage you to put this event into your plan- ning for next year – the program and the networking never disappoint. We were honored to be part of a panel discussion at the AEM Product Support Seminar. The topic was "recruiting challenges" and here are a few things I learned: n As a member of the Baby Boomers (born 1943-1960) I no longer repre- sent the group that is in the majority of the workforce. Baby Boomers now make up 37 percent while Generation X (born 1961-1981) represent 45 percent of the current workforce. n Notable personalities in my era included George W. Bush and Steve Jobs. The most recent group of employees is known as Millennials/ Gen Y (born 1982-2003). Notable personalities from this generation include Snookie and Lady GaGa. Makes me glad I'm a Baby Boomer. n One of the most overlooked sources for excellent potential employees – particularly product support – is from the military. With the planned reduction in the level of troops there should be well-qualified technicians and service managers available with 10-20 years of expe- rience in the coming years. Finally – some thoughts from MINExpo: n Mining equipment just keeps getting bigger. It is hard not to be impressed by hydraulic shovels, trucks and loaders that look larger than the houses we live in. n Las Vegas cabbies were glad to see us all show up. Unemployment, by the way, is 12 percent in Nevada. n The theme of discussion remained consistent with the previous two events – economy, presidential elec- tion, slowdown in China and the uncertainty in Europe. Everyone seems to be holding their breath for a few months before deciding whether to move forward with plans to grow. Most people we speak with in the heavy equipment industry feel busi- ness was better in the first half of 2012 than it has been in the second half. Everyone generally remains opti- mistic that 2013 will show continued modest economic improvement overall. These past three events reminded me how valuable it is to spend some time visiting with industry colleagues and staying current with industry trends and practices. Of course the next major event on the calendar is the AED Summit, sched- uled for Jan. 15-17 in Las Vegas. We're looking forward to seeing you there! JORDAN-SITTER ASSOCIATES is an executive search firm focused primarily on the heavy equipment industry. Jerry Randecker and Chris Sitter can be reached at jerry@jordansitter.com, chris@jordansitter.com, or 210-651-5561. November 2012 | Construction Equipment Distribution | www.cedmag.com | 47

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