What will it take for the market to rebound in 2009?

Recently aUSA Today headline stated - Federal Reserve Chairman Bernake accentuates the positive on the economy, saying the economy should pull out of a recession and start growing again later this year.

If so, what’s our role in helping the market rebound? If “Rebound” means getting back to the sales levels and home values experienced just a few years ago, the answer is NOTHING, which is not necessarily bad. If the definition of rebound implies simply returning to sales volumes and prices more in line with historical norms and growth patterns (normalcy), the situation is not nearly as bleak as some daily headlines and cable news shows lead many to believe.

For a rebound to happen, jobs will need to be created and growth in existing home sales will need to occur. And if Florida, California and a few other culprits that contributed to the speculation frenzy were deleted from current statistics, the picture of the overall market changes dramatically. “The housing market, which has been in a slump for three years, has shown signs of bottoming,” Bernake says. A rebound is coming, but who will rebound quicker, stronger and more profitably depends on one major attribute-PEOPLE.

Therefore, the better question is not “What will it take?” but rather, “For whom” will a rebound occur. The rebound will not be an all or none phenomenon-not every business will rebound. This challenging business market will continue to lead many to consolidation, where only the stronger companies will survive by themselves. It is ever increasingly important to make sure you have the “right” people on staff - PEOPLE who can produce, sell and perform. And it will be similarly important to have the right tools and technologies to support and differentiate your organization. But I caution you—it is not better to have Anybody vs. Nobody. Those firms that identify professionals that have an aptitude to do the job will be positioned for growth. And don’t ignore the Gen Y folks-you don’t need only experienced professionals-you just need the “right professionals.”

Managers and recruiters should target career minded prospects rather than simply hiring as many as possible; differentiate your value proposition to prospects; and use professional hiring tools to better assess prospects. Managers should provide training and mentoring to enhance effectiveness versus simply acquiring meaningless designations. And managers should focus attention on performers; non-producers can’t be allowed to remain because “they don’t cost anything.”

If you want to rebound, you’ll have to make it happen; you can’t just wait for it to happen on its own. The time is right; the real estate market is poised to rebound with first-time home buyers as home prices settle at more affordable levels and historically low interest rates. Bernake also said that the recession may be loosening its grip on the country. With a better job forecast for later this year, the next step is job creation. Remember, PEOPLE are the lever that will allow you to rebound - your most valuable asset.

by Cabot L. Jaffee, CEO/President of AlignMark, Inc. in Maitland, Florida