Wednesday, October 29, 2008

Interesting Comment...

I received an interesting comment yesterday regarding my posting on solar energy jobs. The comment posed:

I’m curious, do you think it possible or logical for people in a non- sunny climate people and sunny climate people to team up in small groups to produce solar energy?In other words, can you envision a scenario where a low income homeowner in Phoenix and an investor in Seattle could team up to produce an investment that would benefit both while using PV’s in Phoenix?

First, thank you to the anonymous individual for posting this question. In my opinion yes, this is entirely possible. In light of today's economic market, investors are evaluating creative investment opportunities that can yield returns as much or greater than the traditional stock market. (On a personal level, I can relate as I am entertaining such creative measures!) I am not sure how these two parties would get introduced to one another, but the benefit to both would be significant.

One plausible idea would be for the investor to outfit the low income homeowners residence with PV, allowing the homeowner to reap the benefit of the solar energy free of charge. Any additional energy yielded from the PV would be entitled to the investor, to disseminate or sell as they wish.

On an even larger scale, I could see an investor outfitting an entire apartment building or new home development with PV. The investor could then discount the energy costs to the residents and sell the remaining energy for a profit.

There are numerous ways this could play out, but I definitely think you are on to something!

Tuesday, October 28, 2008

Solar Energy - Our New Frontier

There is no denying that Solar Energy and Alternative Energy are going to be utilized to make our reliance on foreign oil diminish. Both Presidential candidates have articulated their desire to explore these avenues and I believe these arenas to have significant projected growth over the next 5-10 years. As such, our office is expanding its focus to include Solar Energy and Alternative Energy.

I have had the great pleasure of working with a solar manufacturer, as well as a biofuel/biomass manufacturer this year and have decided to shift focus desk focus to incorporate this growing business segment. The feedback I have received from a number of industry executives has indicated that substantial growth is on the horizon and a need exists for great individuals to help in this expansion. With this in mind, I wanted to share some job information with you, courtesy of This website is one of the most comprehensive websites I have found and I strongly encourage you to visit it.

Job Options in Solar

The Solar Electric Supply Chain

An understanding of the nature of the solar energy industry may help recognize the types opportunities that can become available.

At the core of the solar electric industry are the cell and module manufacturers – these are the OEMs (original equipment manufacturers) of the industry. However other key manufacturers include those making everything else needed for a solar electric system – particularly inverters and controllers, normally referred to as balance of system (BOS) components. They are supplied by a plethora of other organizations, manufacturers of equipment, not only for production but everything needed for a manufacturing business; from fork lift trucks to paper clips
materials suppliers, including substrate (glass, plastic, steel etc.), chemicals, sealant etc. etc.
service suppliers: some OEMs have their own in-house accounting departments, while other contract it in. All use contract labor to some degree and examples include:
production line and assembly operators
office cleaning
legal support
and any other professional support which corporate management decides to outsource

This supply chain is an integral part of the solar industry and the jobs involved are dependent on its success. These and BOS manufacturers are normally classified as “indirect” jobs, as distinct from the “direct” jobs offered by the OEMs and their agents.

OEMs market their products in a variety of ways: basically they either sell direct to end customers or through distributors – many do both. In any particular geographical area, solar distributors may be the most visible face of the industry. They may stock solar electric modules from more than one manufacturer, install and maintain systems from a few to hundreds of kilowatts and work directly with consumers – whether commercial or residential, and they may also cover other renewable energy technologies in addition to solar electric. Many are very small businesses but increasingly the best are becoming significant as the industry expands. However, even the larger companies employ relatively few people since they have no real manufacturing capacity. However they do employ engineers and generalists in the design, assembly, installation and maintenance of systems.

The solar electric manufacturers form a very mixed group. The biggest are already mid-sized companies, with revenues in the hundreds of millions of dollars, employing several hundred people, sometimes in many different countries. Others may have much lower sales but be more active in research and development. You can get an idea of the range of companies on the Solarbuzz website (

Distributors and Integrators may also employ service, material and equipment suppliers, though on a much smaller scale than the OEMs and BOS manufacturers. For those of you wishing to make a career in the solar electric industry, the important thing to remember is that there are jobs in every sector leading up to the End Users, although their nature earning capacity may differ markedly.

Let’s look at the cell and Module Manufacturers to get some idea of the number and types of jobs available. The figure below is based on a hypothetical company manufacturing and selling about 20MW of product. The total number of employees is 100, of whom 60% are in manufacturing. As calibration, consider the recently opened Sharp 20MW production plant in Memphis directly employs 67 people. Of the remainder, 10% are in technology, essential to new product development in such an industry, and the rest almost evenly divided between corporate management and sales. The proportion shown in management may seem high – indeed for many companies it probably is. However, in this example we have included Human Resources, Information Technology, Accounting and Finance, Marketing, Planning and Logistics in addition to the CEO. If we accept this distribution as reasonable we can then examine what kind of employment opportunities may be on offer.

Let’s start from the top – the CEO of many solar electric companies have been technical entrepreneurs with extensive management experience, a lifetime’s technical knowledge and a vision of the products they wanted to make. In a fledgling high technology industry, this is to be expected. However, as the successful companies grow, the industry matures and demands on CEOs change, not least because of the expectations of the market and anxious shareholders. Replacements for the original CEO, whose real forte may have been technical innovation, are increasingly likely to be individuals whose forte is leadership and business innovation. Obviously, such posts are relatively few and only become available on an occasional basis. Moreover, even when a company is looking for a new CEO it may not advertise the fact and may employ recruitment services to identify suitable candidates. If it is the kind of opportunity you want to pursue, you have two choices: either start your own company or consistently build your profile and reputation by excelling in each of your appointments, develop your management and leadership qualities in a variety of positions and make no secret of your intent.

Marketing is something sometimes done by the CEO, but in anything but a very small company, it is usually someone else ‘s responsibility. Sometimes it is combined with Sales although this does not always make sense. For example, if a company becomes international, it is likely to make sense to have Sales organizations on a regional basis while Marketing may stay a Head Office function. This could be because the function of Marketing is not just to promote its products but also to raise the profile of the company, when it fits with company strategy, and this must be accomplished in a consistent manner worldwide. The Marketer will have had previous experience, perhaps in Sales in the industry or even in Marketing in another industry and will have convinced his employer that he has an understanding of the company strategy, the image it wants to present for itself and its products and the skills to develop and implement a plan which achieves this. The original qualifications of the Marketer are often less relevant than his experience and he may be a graduate from any discipline.

Planning is a strategic activity in which the CEO normally plays a major part. However, in any sizeable company, he normally has at least one professional whom he trusts to help him and take responsibility for the maintenance of the plan. The individual is likely to have previous industry experience and is increasingly likely to hold some type of business qualification.

Human Resources, Accounting and Finance, and Information Technology have at least two things in common – they are usually filled with professionals with special qualifications and, unlike the roles discussed above, they may be outsourced. However, every company in the industry has need of these services whether outsourced or not and opportunities will regularly present themselves to suitably qualified candidates.

Logistics has been broken out here simply to highlight it, although it may in practice be included in the manufacturing organization. Those responsible for it must have the skills to procure everything required and make sure everything is where it needs to be when it is required. In order to do it well, those responsible must have the qualities required to develop and maintain good relationships with suppliers, negotiate sound contract terms and have very good organizational skills. It is a specialist role, which can be key in optimizing the efficiency of the company’s operations, and is normally not outsourced.

In very large companies, Technology, or Research and Development, can become regarded as a corporate overhead to be minimized. However, in the infancy of high technology industries, it is critical in giving companies products with which they can differentiate themselves – whether in cost, reliability, performance or durability – ideally all four! All cell and module manufacturers have in-house technology organizations staffed with individuals possessing a variety of skill sets and qualifications. These organizations are likely to offer opportunities for technologists of almost every description, including materials scientists, engineers of many descriptions, chemists and physicists. The Technology organization is likely to be led by someone who has grown “through the ranks”, either in the same company or in other companies or even other industries, and possesses the organizational and leadership skills to make what is often a disparate group of specialists perform well together.

The Manufacturing organization is likely to be led by an engineer – probably a very skilled but pragmatic engineer, since the success of such an operation depends on minimizing downtime and overcoming the problems which are a constant part of everyday life – breakdowns, late deliveries and accidents included! Obviously, the larger the operation, the more senior and experienced the person responsible is likely to be and should a company be seeking to find a new Manufacturing manager, they are very likely to consider external recruitment unless the company is large enough to have a pool of candidates who have the demonstrated competence. Reporting to this individual will be a core of engineers responsible for the manufacturing plant. The precise nature of their expertise will depend on the type of product and manufacturing operation. There may even be an occasional physicist, especially if the process involves lasers, and chemist, for example in the Quality Control Laboratory. However their roles will be a long way from R&D and very focused on the maintenance of the manufacturing process. The actual production line is likely to be staffed with operators and/or assemblers who may be trained on the job. At least a proportion of these are likely to be contracted in to manage swings in production volume.

Sales is very different from the foregoing in at least these respects – it has an almost completely external focus, it involves daily contact with the external world – particularly customers and prospective customers, and is normally the sole source of the company’s commercial income*. It is perhaps the ultimate key to a company’s success – unless it sells products at a profit the company by definition will always be loss-making. The person leading the Sales organization may have almost any kind of academic qualifications (or none) but is likely to have demonstrated his competence in previous sales positions. This competence will include the ability to cultivate potential customers – convincing them of the company’s product offering (when the price, quality, warranty etc has probably been determined by others), satisfy existing customers by ensuring that promises are kept – products are delivered on time, installations are completed and work from the start, and problems are addressed promptly. In larger organizations, his competence will also include demonstrated ability to plan, lead and motivate a sales group. While the leader may have no technical qualifications there are likely to be some in the sales force – particularly, but not exclusively engineers, especially if the company sells into high technology industries such as Telecommunication companies. If such a relationship is to be successful and long-standing, it probably must be founded on a sound understanding at a technical level and the lead sales person is likely to be technically competent to explain the detailed attributed of his products – not just the modules but the systems they are incorporated into. Also, should the company integrate and sell systems, it will employ engineers to design and build them and installers to put them into operation. Installation may be contracted out or done by in-house staff. It is worth recognizing however that installers are needed throughout the industry, that most are trained on the job (although there is now a certification process in the USA) and it is probably one of the easiest ways to break into the solar electric industry

Friday, October 24, 2008

Work/Life Balance

It's FRIDAY!! As another work week comes to a close, I wanted to share a recent article by Kevin Wheeler that I thought was insightful. Today's workforce is changing and has different expectations than the workforce of 20 years ago. Having a work/life balance is paramount. And I'll be the first to raise their hand and say, Yes, this is important to me. As such, I wanted to share this article with you to get your thoughts....

So enjoy today's posting and let me know what you think!

Do you have a strategy for a good life? Can you offer prospective employees a path to develop their own strategy? Have you decided what part work plays in your life and what engages you?
I have been noodling for quite some time over the work/life balance movement. I call it a movement because it really was not even something anyone mentioned or thought about when I entered the workforce in the 1970s. It has come about over the past 15 years and has swept corporate America and the world.

I can’t think of any organization that has not had to change policies or at least address its employees on the issue of work/life balance. Perhaps it emerged because more Gen X employees moved into leadership positions and were more aware of the precariousness of employment and about how quickly corporate can swing from breakneck hiring to layoffs.

But whatever the causes, the issues involved are core to whether people accept offers, stay with an organization, or decide to work for themselves.

Over the past few weeks most recruiters have had to spend some time thinking about their own employment situation and assessing its relative security, engagement, and continuity. They have also had to deal with reluctant candidates, uncertain retirees, and fearful employees. How we think about work is fundamental to almost everything else we do.

The work/life balance movement is based on set of assumptions that aren’t questioned very often, yet are very strange from the perspective of a Baby Boomer such as myself or from that of anyone who has studied or thought about the history of work.

If I were to state the assumptions that underlie the work/life balance movement, they would go something like this: Work is something we do for money, is generally not very enjoyable, and interferes with more important things like family. Work, therefore, should be regulated and time with our families should be mandatory. The work/life balance cause assumes a more or less digital world: work is on or off, family is on or off.

Yet, for centuries work and life were co-joined. Men toiled in fields, small shops, bazaars, and at home without paychecks, labor laws, or a day off. Women and men often shared skills and children were almost always part of the working and life equation as soon as they were old enough.

Work might not have been fun in our modern sense, but it was a family activity and it was the fabric of life. Most people chose to do something they liked, or at least something that provided them food and shelter and employed members of their family. Even learning was a family activity and fathers and sons often co-invented things or passed their knowledge to each succeeding generation.

The modern separation mindset is new and is a result of the physical isolation of work in factories and offices. It is the result of physical and mental separation from family. It is the result of over specialization to the point where your spouse cannot understand what work you do.
Yet I see that the Gen Y folks, the Millennials, seem to have an intuitive understanding that you should seek out work you care about. They are rejecting the work/life notions, much to the chagrin of their elder Gen X colleagues. Gen Y tends to look for work they are passionate about and then they tend to work in ways foreign to Gen X. They take any sense of balance away and may work for days without a stop or not work much at all for some time. They try to choose meaningful and interesting work and embrace it with a passion only seen once in a while with Gen X or Baby Boomers.

In order to most effectively deal with the questions this economic turmoil raises, be able to answer these questions:

Question #1: If I am able to make an adequate living doing whatever I am now doing, what does your organization offer me beyond that?

You should have a clear understanding of the contributions employees can make to society or to fulfilling an employee’s long term career goals. Every recruiter should encourage the organization to commit to funding and supporting social and environmental improvements and activities. Google, for example, allows employees paid time to work for charitable organizations on a regular basis.

Question #2: Can you accommodate my preferred work style?

Many younger employees and also many Gen X and Baby Boomer workers are asking for flexible working schedules and telecommuting opportunities. These will be core benefits offered by successful organizations over the next decade. Without these you will find it very hard to hire and retain your most productive and valuable people. As soon as any competitor offers them an opportunity for these, they will leave you.

Question #3: What opportunities are there for me to fulfill my life ambitions here?

Work is no longer all about the employee doing things only for the organization. It is also about what the organization is doing for the individual. Some corporations offer employees college programs in areas that have nothing to do with work. For example, some pay for things like nursing school or law school while the employee is doing some totally different type of work.
Others offer cross-functional movement and provide the training and coaching needed to make the person successful. And they make this a significant part of the employment experience, not just a perk for the privileged few.

This is the out-of-the-box stuff that will keep the best people, at least for awhile, and improve the productivity and engagement of everyone.

I am not the only one predicting that it will be increasingly difficult to convince younger people to work for large corporations unless they have more input to the type of work and the conditions they work under. As work returns slowly to individuals, entrepreneurs, small shops, and small organizations, we will see more and more integration between work and life. More spouses will work together and more children will be part of that work. The days of specialization, physical separation, and mental isolation are ending, I think and hope. We have traversed across a century of change to return to where we started.

Thursday, October 23, 2008

Brief Interview Tips


1. In order to have a successful interview, you must find out what people want and then show them how to get it. Uncover the employer’s wants, needs, desires, goals, and priorities.

2. Listen well to the interviewer. Be attentive – show him/her that you understand the needs of the firm.

3. Establish rapport. Switch the situation from “you against me” to “you and me against the problem.”

4. Be yourself - let your natural strengths come through.

5. Be truthful. If you don’t know how to answer a question, say so – ask for clarifications if necessary.

6. Demonstrate integrity – never divulge confidential information about your previous employers.

7. Never be negative about anything - including former bosses, companies, or employees.

8. Never get into an argument with the interviewer.

9. Always show loyalty to former employers.

10. Be on your toes at all times and with every person you meet: secretary, company employees you pass in the hallway, etc. If invited to lunch or dinner, remember that’s part of the interview as well. Remember – job interview behavior is different from normal work behavior, just as interview dress is different from normal job dress.

11. If you wish, take notes – but ask first.

12. Finally, don’t ask the employer about salary until you’re offered the position. To get into a salary discussion too early will handicap your negotiating ability. Be sure the employer wants to hire you first, then you will negotiate from strength.

Wednesday, October 22, 2008

Interview Strategy

Your objective is to obtain a job offer by outshining the competition. You have already done it with your work history, now you need to do it with your appearance and interviewing strategy.

¨ Shake hands firmly while establishing direct eye contact
¨ Be gracious and enthusiastic in your greeting
¨ Address interviewer as “Mr.” or “Ms.”
¨ Offer interviewer a copy of your resumé
¨ Always look at the interviewer – maintain eye contact
¨ Maintain high energy level
¨ Sit Up
¨ Back Straight
¨ No Drinks – to spill
¨ No Smoking
¨ Avoid nervous habits – showing anxiety through your legs, feet, and hands
¨ LISTEN to questions
¨ Never talk while your interviewer is reading
¨ Respond formally – “Yes, Ma’am / Sir” – be sure not to say Yeah/Yep
¨ Eliminate such phrases as “you know,” “uh,” and other fillers
¨ Never be negative about anything
¨ Never bring up the subject of money
¨ Never chew gum
¨ Do not take portable phones or beepers into the interview
¨ Be prepared for a group interview

NOTE: Be yourself. Poise, confidence and self-respect are of great importance. Conduct yourself with confidence and determination - don’t play coy. Sell yourself. This is your first meeting and the position, as well as future promotions, may depend on your presentation. Are you going to sell your prospective employer on the idea of hiring you, or will the interviewer sell you on the idea that this job is not for you? You must present a positive attitude to the prospective employer. You must not appear to be disinterested or appear to be job shopping.

Tuesday, October 21, 2008

Pumpkin Patch Adventure

Father and Son on their First Adventure to the Pumpkin Patch

Wednesday, October 15, 2008

MRI Corporate Announces New Leadership

As of today, Michael Jalbert will no longer be leading MRI Corporate. As he "steps down" to pursue outside ventures, an announcement has been made that Tony McKinnon, CEO of, will be assuming this challenging role. A few other organizational changes have transpired and can be reviewed in the announcement below.

I personally liked Michael Jalbert and the direction he was taking MRI Corporate, so I wish him all the best in his new endeavors. Tony has some BIG shoes to fill, so stay tuned....

"Tony" McKinnon, a former Chairman & CEO of and President & CEO of Amadeus North America, will succeed Michael Jalbert as President of Management Recruiters International on October 15, 2008. Tony is an executive with deep marketing/sales experience and a solid background in leading organizations comprised of independently-owned businesses and I am excited to welcome him to MRINetwork.

Michael and I have been discussing opportunities that would allow him to return to his entrepreneurial roots and he will be pursuing opportunities outside of MRINetwork. I want to thank Michael for his contributions.

As Michael’s successor, Tony’s focus will be on continued development in a number of areas including: Training, to ensure every office has the tools to effectively find, hire and train talented producers; the Field Service Management Team, to ensure that offices have access to solid operational support as owners and managers strive to grow through every phase of their business lifecycle; and, the Contract Staffing model to improve the overall enterprise value of participating MRINetwork offices. He will work closely with your Representative Council so that the needs of MRINetwork owners and managers are understood and that the Home Office team is aligned with those needs and organized to effectively deliver solutions. He is also committed to harnessing technology in support of profitable MRINetwork revenue growth.

Additionally, I would like to announce the following organizational changes that will allow us to better focus on delivering the guidance and services that MRINetwork offices need to drive through the current economic turmoil:

Richard Kusmer is leaving his role as Chief Operating Officer in order to pursue other outside interests. I want to thank him for his efforts and contributions to the Network.

Evan Davis has been promoted to the role of Chief Operating Officer. While performing his financial role as Chief Financial Officer, Evan has gained a solid understanding of office operating dynamics, the placement process, and the performance metrics that create a successful office business model. He will continue to work out of the Philadelphia office and will report directly to Tony.

Jeremy Jordan will assume leadership responsibility for the MRINetwork Finance organization. In his eight years with CDI, he held a number of corporate financial positions before being promoted to the role of Chief Financial Officer for the IT Solutions division in 2006.

As MRINetwork CFO, Jeremy will manage the overall MRINetwork corporate financial organization while helping individual Network office owners understand the metrics that are essential to driving profitable office performance. He will continue to be responsible for the ITS Finance organization, will work out of the Philadelphia offices and will report directly to Mark Kerschner (CDI CFO), with dotted line responsibilities to both Tony and Andy Cvitanov (President, ITS).

While these transactions mark a change in leadership, they do not mark a change in direction. Tony shares the same core values and commitment to strengthening the training and operations environment on a worldwide basis that Michael has established. With the new members of the leadership team, as well as with the support of all of the Home Office professionals, Tony will make the transition without skipping a beat.

With your support, Tony and his team will lead an even stronger MRINetwork as we not only react to the current economic climate but as we proactively build the Network into the world’s most powerful talent organization. So please join me in wishing Michael and Rich well in their new endeavors, in congratulating Evan and Jeremy on their new roles, and in welcoming Tony to the MRINetwork family.

Tuesday, October 14, 2008

Employment Statistics

Our office owner and manager recently shared some employment statistics that I thought worth passing along.....

The national unemployment rate in October remained at 6.1 percent, though total nonfarm U.S. unemployment continued to fall by another 159,000 positions. The professional unemployment rate also remained at 2.8 percent, up from 1.8 percent a year ago. However, unemployment of the most educated workers, those having earned a bachelor’s degree or higher, edged down to 2.5 percent from 2.7 in September, the first time this number has fallen this year. Natural resources extraction and health services remained the strongest sectors, both posting payroll gains in October.

Monday, October 13, 2008

What is a Human Resource?

A colleague recently shared with me this assessment and I thought I would share it with you.

What is a human resource?

Does your organization struggle with the problem of properly fitting people to jobs?

Here is a handy hint for ensuring success in job placement.

Take the prospective employees you are trying to place and put them in a room with only a table and two chairs.

Leave them alone for two hours, without any instruction.

At the end of that time, go back and see what they are doing.

If they have taken the table apart in that time, put them in Engineering.

If they are counting the butts in the ashtray, assign them to Finance.

If they are screaming and waving their arms, send them off to Manufacturing.

If they are talking to the chairs, Personnel is a good spot for them.

If they are sleeping, they are Management material.

If they don't even look up when you enter the room, assign them to Security.

And if they've left early, put them in Sales.

Friday, October 10, 2008

Dilbert on Reference Checking

Person A: Hi. I’m calling to check the references of your ex-employee named Ted.

Old employer: We have a company policy against giving references but I’d be happy to discuss the weather with you.

Person A. Okay.

Old employer: The clouds are moving lazily across the sky. And everyone thinks they’re stupid.

Wednesday, October 1, 2008

Job Cuts Galore

A recent article highlights that the bottom is still a ways off, as more companies continue cutting jobs.

On a side note: I hate all this doom and gloom about the economy and job losses, but I think you as readers probably want to remain abreast of this information. If I am wrong, let me know!!
Happy Wednesday -

More job cuts loom as economy slows
Tech and and auto industries lead the number of planned layoffs according to a monthly surv
By Kenneth Musante, staff writer
October 1, 2008: 7:36 AM ET

NEW YORK ( -- The number of job cuts announced in September rose as the economy slowed, according to a report released Wednesday.

Positions on the cutting board rose 7.2% to 95,094 from 88,736 the previous month, and were 33% higher than the same month last year, when 71,739 cuts were announced, according to outplacement consultancy Challenger, Gray & Christmas, Inc.

September brought the announced layoff total for the third quarter to 287,142 - the largest number since 2005, according to the report.

The computer industry was the hardest hit, with 25,715 positions on the line after PC maker Hewlett-Packard (HPQ, Fortune 500) announced the largest workforce reduction of the year, the report said.

HP said it would cut 24,600 jobs worldwide as a result of its acquisition of Electronic Data Systems Corp. But since those cuts were a result of the deal and not a consequence of the ailing economy, the report noted, HP's workforce could gain many of those jobs back.

The struggling auto industry came in second place, with plans to drop 14,595 jobs, while the apparel industry came in third place, announcing 8,350 cuts, according to the report.

Surprisingly, planned job cuts were relatively modest in the financial sector, the report said, despite the turmoil that plagued the nation's financial institutions during the month.

Banks wait for bailout

The data showed that finance industry had announced 8,244 job cuts in September, compared with a spike of 27,169 during the same month last year as the credit crunch began to unfold. But they did jump from 2,182 in August.

September saw a major reshaping of the financial landscape as institutions such as Lehman Brothers, Merrill Lynch (MER, Fortune 500), AIG (AIG, Fortune 500), Wachovia (WB, Fortune 500) and Washington Mutual were acquired, bailed out, or went bankrupt.

"While all of these scenarios are being played out, the fate of the workers remains in limbo," John A. Challenger, chief executive of Challenger, Gray & Christmas said in a statement.
Financial institutions are waiting to see if Congress passes the Bush administration's $700 billion rescue plan that would allow the government to buy up tainted assets in order to keep their businesses from failing.

Whether the bailout plan is approved by Congress - and what form it takes - will affect the number of layoffs that may eventually be announced, according to Challenger.

"One of the big questions is: Are there going to be more runs on banks and financial institutions?'" he told

If there is no bailout plan, financial job cuts will likely increase, according to Challenger. On the other hand, if all banks take advantage of the government's offer, the number of layoffs could be limited, since no one institution is singled out.

But if a bailout plan passes and is only embraced by a few institutions, that would emphasize the weakness of those companies, and we might see more job cuts, he added