Two mentions of the dreaded ‘R’ word two posts in a row? I know, its practically a curse word but I feel that this topic requires a lot more space on this blog as it is obviously a huge concern for everyone at  large, but more so for the soon-to-be-graduates and job seekers reading this.

Economists predict that this coming year will be tougher than the last for this economy and others such as Australia. There has been debate about whether the vast Down Under has been affected. If the turn out at this weekend’s Ausi expo is anything to go by, many are contemplating fleeing southwards in search of greener pastures (or at least less arid ones). I say, fear not, for the key to survival is determination, being smart, creative and brave.

The job market doesn’t seem very welcoming for fresh grads as unemployment numbers soar. However, many of the agency cutbacks in the PR and marketing industry are higher up the corporate ladder. Having learned from past economic slumps, companies have not halted graduate recruitment, as they realize this will only create a talent/ human resource gap in the future. So don’t bid your ambitions farewell just yet.

Another silver lining in the financial dark cloud is the rapid growth of the digital industry. The government has plans to pump investment into the industry, which ensures that it shall continue to thrive. That ties in with the immense impact social marketing is having on the media landscape. Going digital is clearly the way to make it through the current fiscal droop.

If that doesn’t put a smile on your face, how about this- as Harvard Business School Professor John A. Quelch noted recently:

“It is well documented that brands that increase advertising during a recession, when competitors are cutting back, can improve market share, and return on investment at lower cost than during good economic times.”

This rationale applies equally well to PR and money strategically spent on PR can have the result Quelch notes above. Your clients and potential clients still have their needs and will be looking to fulfil them. Maybe with a lesser budget, but they are still out there looking. This is a clear indication that PR is not perceived as a luxury in times like these. We just have to be more creative about how we go about it.