Hottest Spring Break Event: the UCLA Anderson Forecast

Today was the quarterly UCLA Anderson Forecast.  Anderson’s most noted economists presented their research, made conjectures about the economy, and proved that they have a sense of humor.  For a few of you, this was the culmination of your Spring Break.  For the record, I was not playing Words with Friends with Francis Quimby.  Rather, I was live tweeting.  Here are some of my main takeaways:

Jobs are on the rise in this slow 7-year recovery.  This graph is good news for all of you.  However, during this economic improvement, more money is being spent on sophisticated technology than on human capital than in the past, so we need to find ways to be unique value adds to organizations.

Keynote Address

Caroline Nahas, Managing Director of Southern California Korn/Ferry.  So polished.  So knowledgeable.  So real.  Plus, she gave a nice shoutout to our very own Dean of Career Services Rob Weiler. 

• The differentiators amongst candidates are:

o   Innovation management
o   Dealing with ambiguity
o   Inspiring others
o   Learning agility

• How to get learning agility? Take on as many experiences and get out of your comfort zone.
• The functional area of project management is red hot. Companies are looking for people who can lead using skill not authority.
• The growth in consumer product is concentrated in Health & Wellness.  We want to look and feel better, and are willing to pay for it. Companies like Allergen (Botox, Lattise, etc.).
• Banking firms are not hiring at the executive level, but they are at the MBA level since Anderson grads can quickly get up to speed and add value.
• Further changes to industry: Korn/Ferry now has a search consultancy for risk management/compliance, which they didn't have 10 years ago.
• Pharmaceuticals are down but healthcare providers are up and should stay strong. Hospitals are local and patients don't usually go oversees for care.
• Social Media is still the rage and youth driven.  Firms would benefit from pairing social media experts with more experienced executives like the powerful combination of Mark Zuckerberg and Sheryl Sandberg.

Panel

• CEO Empowered Careers Steve Poizner: There are currently 3.5MM job openings in the US.  Applicants just need the right skill set, so Poizner's company is pushing certificate training for baby boomers.
• President FilmLA Paul Audley: Entertainment represents 230,000 jobs in LA with a multiplier of 2.3.  Getting movies made in LA more than pays for itself in taxes
• President UCLA Health System David Feinberg: Too many quotes to list.  This man is so impressive and you should be very glad to have access to UCLA healthcare.

The UCLA Anderson Forecast should definitely be on your Anderson bucket list. Very high ROI, particularly since this normally pricey ticket is free. 

And now I am wishing I could be as funny as those Anderson economists.

-Emily Taylor '08, Associate Director of MBA Education & Communication

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