How You Can Help Hampton Roads Recover Faster
There’s some gloomy news out there in terms of jobs.
- According to commercial real estate indicators, jobs are returning to Hampton Roads, but slowly.
- Another report from the residential real estate market says that the economic forecast is good for Virginia, but not so great for Hampton Roads.
- And a report commissioned by the U.S. Conference of Mayors says that employment levels in this area won’t reach pre-recession levels until the third quarter of 2015 (more than 4 years from now).
So what can you do to turn that news around and help Hampton Roads recover faster? It’s actually really simple: hire someone.
No matter what business you’re in, whether you’re B2C, B2B, B2G or some combination, all demand begins with one simple condition: people having money to spend and feeling secure enough in their future to spend it. For most people, that requires employment of some form.
In the twentieth century, conventional business wisdom held that salaries and payroll are a “cost center,” a large mark in the loss column for any firm. But new thinking in business recognizes that the act of hiring and developing talented employees is an investment in a company’s future.
And it’s not just an investment in your own company; it’s an investment in your region and the American economy as a whole. Each person with a job (i.e., with money to spend and enough security to spend it) provides additional demand for literally thousands of industries, from airlines to automotive repair to broadband internet to snack foods.
The saying goes that a rising tide lifts all boats. How do we get that tide to rise? We start hiring.
Even if you don’t currently have the resources for an additional full-time employee, you can add to the rising tide in Hampton Roads by adding a temporary or contract worker to your business. (We can help with that.) The people and businesses in Hampton Roads don’t have to resign ourselves to a slow recovery or wait until 2015 for a return to the last decade’s conditions. We can make the recovery happen faster on our own with the simple act of hiring.
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