Playing the Hiring Market to Win
By Michael Robinson
During previous turbulent economies, a knee-jerk reaction for conservative stock market investors has been to grab hold of whatever money they could, and then take themselves out of play.
Many employers have followed suit during the recession - locking in on whatever employees they have, freezing all hiring, and bracing their companies until the worst is over.
These tactics might have made sense in the short-term, but after more than three years of uncertainty in the U.S. economy and more to come, smart investors and employers are now questioning the definition of a "tough market" and how to operate within it.
While the frothiness of the current markets may keep conservatives at bay, many see this as a time for opportunity. Despite recent declines in the stock market, seasoned, opportunistic game changers like Warren Buffet are buying stocks right now. With the job market's recent return to a decline in hiring, some industry-leading companies are still making their move to find their best employees yet.
Your Best Future Employees
As conservative employers hold off on bringing on new talent, prime employees are questioning their next best move in a strained market. These employees may work for your top competitors, they might not consider making a move under different market conditions and they may be some of the best employees you could ever hire.
The shrewd companies who are willing to reach out to potential job seekers in difficult times are the ones who will win out overall. Employers willing to dip their toe in the current churning market will find a huge pool of people to choose from - including employed and unemployed candidates.
Historically and regrettably, the unemployed have been stereotypically tied to a negative bias. But with 13.9 Million unemployed people in the U.S. (all for various reasons), they are no longer a group that can be shunned or ignored solely because of their employment status.
Tackling a Large Labor Market
Your potential candidate pool is so vast that your recruiting strategy needs to be as efficient as possible. Make use of the tools available to you so you can appropriately screen and proactively search for candidates, while putting your company's best foot forward to attract top talent.
Normal times call for standard actions, but in light of the current economic situation, it's important to question traditional recruiting. What may ordinarily seem like a risky move during calmer times, may be the best choice for your company today. Your best employees may still be out there.