While the jury is still out on whether or not we are actually heading for a recession, it doesn’t hurt to plan. Recessions and economic downturns are part of the natural economic cycle and tend to happen every 10-12 years, so having some tools to recruit during those times is helpful for any recruiter with a long-term vision. Here are four tips for successful recruiting during a recession.
Now, this might seem obvious, but listening takes on even keener importance when the economy is uncertain, particularly in a time like the current one where there are more jobs than qualified candidates even amid increasing rates and inflation. Candidates aren’t just looking for a new job, they’re looking for what comes with it. Listen closely to make sure you are both aligned.
2. Quality over quantity.
If you’ve been in the recruitment industry through an economic downturn, you likely already know that more companies seek high-impact candidates during those times–one person that can fulfill multiple needs or positions. Make sure that the compensation package is adjusted accordingly because those candidates will likely have many offers to choose from and you don’t want to be passed over.
3. Make an excellent first impression
As mentioned above, quality candidates are likely going to be fielding multiple offers, even (especially) during a downturn. Communicate clearly, respond quickly, and ensure that you are adequately representing the mission and vision of your client’s company as well as the benefits they offer. Being “unwelcoming” may lose you a top candidate.
4. Time is of the essence
If you decide to move forward with a candidate, don’t wait. Let them know right away, offer a competitive package, and express your enthusiasm and a sense of urgency to hire. If you choose to wait or try and offer a less enticing compensation package, you may well find yourself without a quality candidate.
If you are looking for a recruiter with successful experience recruiting through economic uncertainty, ROI can help.