There is a wealth of qualified talent available during tight economic times, however this also means there is even more work required to find the best talent. So how do you find the best talent? In a healthy economy, hiring managers spend the majority of their time searching for the best talent out of a thin candidate pool. However, during a recession, there is such large pool of highly qualified candidates looking for jobs that it can be nearly impossible to narrow it down. To ensure their recruitment tactics are aligned with the current economic times, employers will need to find new ways to manage the recruitment process during an economic downturn.
I’ve put together a list of tips to help employers streamline their recruitment process to find quality talent during an economic recession:
- Be choosy, numbers are on your side - It is important to match the right candidate to the right job. Don't spring for the first qualified candidate that walks through the door. It is important to broaden your selection to include criteria other than just experience and education. Look at things such as passion for your organization's industry, cultural fit within the company, and the presence of soft skills such as strong interpersonal communication, empathy, and likeability.
- Utilize niche job boards - Applicants from niche job boards are typically higher quality and better qualified for the position than what can be found on general job boards. On large job sites, candidates may be tempted to apply for any job they see, even if they are not really qualified. In addition to accessing millions of qualified candidates, employers can also take advantage of specials to post jobs to niche job boards, such as Beyond.com, which is currently offering a free job posting to every employer in America.
- Leverage social networks - The availability of social networking and other web-based technologies has helped make recruiting possible with little or no budget. Most organizations are likely to have employees that currently utilize one or more social networks (i.e., Facebook, LinkedIn, MySpace) both on and off the job. Employers should take advantage of their presence and use these employees to supplement their existing recruitment program. Start by encouraging employees to include company information in their profile and ask them to add compelling facts and stories about the organization. Next, encourage employees to proactively create group connections and to provide the company with names of potential job candidates.
- Always pre-screen potential candidates - In an economic downturn, it is important not to waste management's time or the potential candidate 's time (let alone get their hopes up!) Phone interviews are not used nearly enough and can be very helpful when trying to determine if a candidate is worth interviewing. To reduce recruitment costs, employers should use interns to conduct a phone interviews, and should also consider first round interviews with HR to reduce the time commitment from management needed to interview candidates that would not be a good fit for the position.
- Take advantage of free tools to reduce recruitment costs - Many job boards, such as Beyond.com, offer free tools to help streamline the recruitment process. Employers can utilize an Applicant Tracking System to easily and efficiently track their candidates, data and team collaboration from one central location. In addition, employers can create a free corporate career center which allows them to post their jobs for free. Another useful tool available online is the ability to test drive a resume database before purchasing a recruitment package.
It seems like not long ago, the recruitment industry was faced with a shortage of talented candidates to fill available positions, and now recruiters are faced with a completely different dilemma. With an overabundance of qualified candidates currently searching for a job, employers will need to consider new tactics to help streamline the recruitment process and effectively find the right candidates for their company. I hope these tips were helpful and I welcome any feedback or tips from other employers who are actively seeking new employees for their business.
