Underserved markets are where it’s at

RIP Shiny Object Syndrome

Underserved markets are where the money is right now. The most opportunity – not just for recruiting, but any sort of business, as well as job seekers – is in overlooked industries, smaller geographies, etc.

I have friends outside of the LinkedIn bubble. (Really, I swear.) People who work in accounting, manufacturing, law, etc. When I’d mention the hiring market being depressed in 2023, they were all like “wtf are you even talking about?” Their companies didn’t do layoffs and were still hiring the whole time.

Not to jinx anything, but our business picked up in 2024. What’s interesting is how:

👉We have more non-tech clients than we have tech clients.

Manufacturing, legal, real estate, financial services, CPG, healthcare, and cannabis are just a few areas where business picked up considerably. That’s not to say we aren’t seeing a lot in tech orgs (it’s still our largest single industry area), but all the real growth has come from elsewhere.

👉Our fastest growing skill area is Industrial.

Manufacturing, supply chain, and engineering have been our fastest skill areas. Not surprising based on the industry growth. But to the point: it’s also a market that is traditionally underserved by recruiting orgs. We just don’t see as much competition in the space because there aren’t as many firms that do it.

👉We get as many jobs outside of major markets as we do in them.

We’ve been a national firm for years now. But historically most of our business has been in Chicago (our hometown), followed by the other big markets that everyone chases business (San Francisco, New York, etc.)

We’ve done business in 20 states so far this year. We kicked off new engagement with companies in smaller midwestern cities like Cincinnati, Detroit, and Columbus. And even smaller markets like Wilkes-Barre PA, Peoria IL, and Meridian ID.

And it’s not just recruiting. I’ve talked to marketing agency leaders seeing the same trends and refocusing their sales efforts.

Some day interest rates will fall and VC money will drive hiring again. But there are other great orgs to work with (and for) that don’t rely on it.

They’ve been here the entire time.

James Hornick

Partner at Hirewell. #3 Ranked Sarcastic Commenter on LinkedIn.