6 Tips for Hiring Employees During an Economic Downturn
After assessing your future and present recruiting goals, Recruiterie (https://recruiterie.com/) offers these six tips on how to manage the recruitment process amid an economic downturn or other employment market disruption.
1. Assess skill gaps
A skills gap study can discover skills your workforce needs but doesn’t have. Skills gap evaluations can help you hire, train, or fund new technologies or collaborations.
A skills gap report examines your company’s current and prospective employees. With this data, your recruitment staff may reach out to passive applicants, generate more accurate job descriptions, and hire new hires who can help you realize your long-term goals.
2. Contact passive applicants
Do you want to hire industry experts or senior leaders from other companies? Now may be a good moment to recruit them.
During a recession, many workers switch occupations for better pay or stability. Harvard Business Review recommends asking each leadership team member to choose three to five professionals they would want to collaborate with. Next, rate this shortlist by company appeal and decide who to call. The appropriate applicant may be waiting to be approached. Actively recruit people from this pool of potential candidates.
3. Form a workforce task force
If you’re willing to hire a lot, create a task force to find the best candidates from target industries.
You may be able to use labor market shifts to recruit teams of active job searchers, like HP did with military veterans. After 9/11, Apple actively hired developers and engineers to launch the iPod and iPhone.
4. Find screening aids
During hard circumstances, you may get more job applications. This may easily overwhelm recruiters. Add resources to scale hiring.
Recruiterie helps recruiters quickly find top applicants. Our talent tests enhance your hiring process at any volume to locate the ideal applicant for every post. Machine learning rates each evaluation to create a shortlist of applicants for further screening. Recruiters can tell which target candidates are worth interviewing.
5. Remotely hire
During a recession, many business owners think they can’t hire new workers. Remote hiring works. Remote employees are cheaper and provide a variety of expertise that may meet your needs and you may even hire a dedicated software development team.
Remotely filling a position requires the correct tools. Remote interviewing tools can help you get to know prospects. To speed up onboarding, experts recommend remote reference checks and onboarding resources.
6. Develop internal talent.
Sourcing a post doesn’t necessarily imply recruiting externally. You can train employees for new tasks. Consider which of your current employees can be mentored to succeed in new jobs. Training is cheaper than recruiting.
Conclusion
Many businesses are freezing hiring due to high inflation, shifting interest rates, and other factors. This might shift labor market demand to employers. Companies that hire during recessions might emerge stronger than their counterparts that cannot hire during this time.
Consider strategies to increase worker resiliency while designing your recession recruitment strategy. Where do you want your firm a year or five years after a recession? This can direct your recruiting process and help you take advantage of qualified people who may be looking for work.
