Talk of an Economic Slowdown Hasn't Phased Cypress

San Francisco, CA – Late in 2007 the team at Cypress finalized forecasts and goals in an effort to prepare for the economic uncertainty that would undoubtedly lie ahead in 2008. The strategy for growth was simple; the new financial and growth forecasts were easy to follow – it was predicting client movement that would prove to be challenging. “We’ve had the great fortune of partnering with very large clients with well know marquee names. What we didn’t know was what they were going to do regarding their hiring practices. I’m a huge believer of providing the highest level of service and professionalism possible…and to maintain that standard, we knew that we needed to meet with clients and ask them tough questions in an effort to fulfill their needs” said Managing Director, Brian Vesce. The Business Development Team at Cypress met with each client to not only to determine the fate of the teams they assembled, but to also identify the direction of their hiring needs for 2008.

After thorough discovery and consideration, Cypress concluded that many of the clients that utilized its direct hire placement services would shift their focus towards contractors and consultant placements. “We realized that companies would start to call on our contract placement division more to provide them with ‘just in time’ talent, with limited liability. Our economy is clearly going to have some major challenges and companies just aren’t willing to incur that level of employment exposure” said Vesce.

The result has been positive in both regards. Cypress’s contract placements have continued to grow in accordance with the plan and their direct hire placement division has grown 220% more than what they had originally forecasted. “Our initial findings show that the economic pressure hasn’t opened up the pool of candidates like we had anticipated but instead made it more difficult for candidates to justify making a move. Therefore, our clients have increased their demand for our help with respect to direct hires. We’re going to continue to develop both practices and use this increase to have another break out year.”

About Cypress HCM:

Cypress Human Capital Management (HCM) identifies, recruits, selects, and deploys information technology talent for the best and brightest companies in the nation. By combining our intimate knowledge of technology with our understanding of talent and human capital management, we deliver tangible value to each client we serve. Driven to be more than just an IT Staffing Company, Cypress HCM was founded to deliver Services, Solutions, and Tools that enable our clients to improve their IT initiatives. Cypress HCM enhances visibility into the recruitment process, provides superior performance, and delivers a measurable cost reduction for productivity.

Media Relations Contact:
Brian Koehnemann
bkoehnemann@cypresshcm.com