How many times have you logged onto your favorite new blog or social media platform, picked up your local paper, dialed into your local news radio program, or caught the news headlines on your most watched TV station only to be barraged with economic doom and gloom?
Quite simply put, you have two options: You can buy into the negative propaganda being forecasted in the media or you can take some initiative to make a difference in your organization. This starts with your overall recruitment strategy and employee retention programs.
In 2008/ 2009, and recently at the beginning of 2015, a number of perspective clients had indicated that due to the number of candidates on the market, they are going to recruit on their own as opposed to having a specialized recruitment firm manage the process and identify candidates on their behalf. They are right about one fact; there were more candidates available in the market. That was clearly evident by scanning any of the on-line recruitment job boards.
What is actually happening in the market is that the majority of the candidates available through on line job boards are individuals you may not necessarily want on your team. There is always that “diamond in the rough”, however these candidates tend to be the first wave that have been released from their employers due to the changes in the market, and they are also the same candidates having the most difficulty with finding a rewarding new career. Companies tend to not release their top tiered employees at the first signs of economic challenge. Whether these employees are in human resources, sales, marketing, or operations, top tiered employees are part of the longer term strategic plan and retention program for the company.
If you still decide to take a run at the on-line job boards, be prepared for an ineffective use of your time as you start to review the plethora of real estate agents, mortgage brokers, investment advisors, insurance agents, and software sales reps…..all of whom are looking for a short term fix until the markets turn around again.
Partnering with a reputable recruitment firm that specializes in the area of your current recruitment needs will enable you to have access to top tiered candidates who are passively seeking a new career, enable you to have access to potential candidates from direct competitors, and be able to attract candidates with transferable skill sets if you are looking for an individual outside of your industry or sector.
An economic downturn is an ideal time for change. The market is seeing more leadership positions becoming available simply due to companies realizing that they may have a better opportunity to attract direct or indirect competitors to their company. Another benefit to the market is the opportunity to upgrade your sales and marketing teams, or to look at initiating new relationships with affiliated businesses and suppliers.
There is no hiding the fact that a number of industries and companies are being affected in today’s market. How your company evolves through this challenge will in part be decided by being proactive with your recruitment strategies and ensuring that you have access to the most qualified and successful candidates on the market, as opposed to being able to attract the best of the unemployed.
President & Managing Partner
Fusion Recruitment Group