The crazy year continues from plagues to locusts, wildfires to hurricanes, Charmin shortages to murder hornets – I even hear rumors of a hot new hair metal glam band called Hunter Biden’s Laptop….but I cant seem to find any information about them. I’m feeling like the last of the Whac-a-Moles forever one hole ahead of the hammer.
Through it all the toy industry has survived, some product categories like puzzles, games, arts and crafts and big outdoor toys are even having their best years ever. Other producers of movie based product have been having a very tough go. That said, overall things seem to generally be getting better. I must say that I was completely taken by surprise by Mattel’s stellar third quarter earnings numbers.
I’m pretty much winging this piece because there really isn’t much new. Covid Time drags into it’s ninth month and there is no real end in sight. We’re still muddling through but the muddling is better. Even as coronavirus case counts rise business is improving.
After a four month long backyard barbecue intensive, toy industry hiring slowly started to return in mid-July. September was an inflection point towards stronger hiring trends. As I write this Toyjobs is going pretty much full throttle although it remains to be seen how long this pace will continue. The number of searches that we are currently working on is not accurately reflected on our job board. There are two reasons for this. First, I like to do my work reaching out to the candidates that I think are most appropriate before inviting everyone else to raise their hands. Secondly, there are several underemployed headhunters out there who spend their time reading our job board in the hope that they can glom onto a search that we’re already doing. I can’t think of a single reason why I should help them do that.
In most industries, companies get new budgets at the beginning of the year and can start any additional hiring immediately. The toy industry tends to run a little differently. Toy sales are so fourth quarter loaded that most companies want to get their results and crunch their numbers before finalizing their future plans. Additionally, in a typical year, the toy industry spends most of January and February criss crossing the globe to attend what can only be described as too many trade shows. Also, the toy industry is so seasonal in nature that many companies start their fiscal year on April 1st. These factors usually cause a delay in start of the year hiring which usually takes off in March and April.
In 2021, things could be different. While companies won’t have done all of their calculations by early January, quite a few of them will already know they have done quite well. When you factor in that nobody is going to be traveling in January and February, I see toy industry hiring taking it’s next leg up in about the third week of January. Unfortunately, I don’t really see Covid-19 coming to an end and things beginning to return to normal until August or September. That said, if you have to go through a pandemic it is far better to be employed than not. We here at Toyjobs will being doing out utmost to get as many people hired as possible.
….Yes, I know we get paid for that, but that doesn’t mean it isn’t helpful!
Keep your heads down and your hands clean!
…..and your fingers crossed!
All the best