RSS Feed | 
ShareThis
Proper Recruiting Strategy in Uncertain Times
By Patrick Ropella Posted 3 months, 15 hours, 56 minutes ago.
Traditionally, our economic cycles have swung like a pendulum. As a result, recruiting peaks and valleys have been relatively predictable. Your company has probably been able to enjoy the ride, anticipating needed shifts in recruiting scope and strategy. But hang on – the ride’s getting wilder. Today’s unpredictable economy has made recruiting feel more like a rollercoaster than a gentle swing. Instead of the conventional highs and lows, your company must be prepared to handle radical, unpredictable changes in human capital needs. Here are a few tips for how to do it:
Defend your recruiting budget. Above all else, fight against your CFO’s temptation to institute a company-wide hiring freeze. The knee-jerk reaction may initially cut costs. But, it will also seriously impede your company’s responsiveness once the economy improves. Instead of issuing a blanket freeze and slashing recruiters, suggest that your CFO implement a spot-freeze. Analyze which business units are growing and which are shrinking, then select the best targets for hiring suspension.
Prepare for an onslaught of applicants. Company layoffs and downsizing translate into more work for your recruiters. Scrutinize your resume sorting process now, to ensure you can handle the higher volume while maintaining your standards for quality.
Churn your talent pool. The demand for relentless innovation in the chemical industry will continuously alter the skills needed by your firm at any particular point – even during this economic downturn. To keep pace with rapid change, you must “churn” your available talent pool – continuously hiring workers with new and needed skills, while simultaneously releasing employees whose skills are obsolete or whose performance is poor.
Churning may seem counterintuitive in today’s slump, when you may be tempted to declare a moratorium on hiring. However, the sluggish economy provides the precise strategic rationale for churning – right now, when your competitors are laying off top employees, it’s faster and cheaper to recruit new talent (innovators with the skills you need) than to develop it in existing employees.
For more information on these and other methods of properly recruiting during negative circumstances, read Patrick Ropella’s white paper on the topic: Recruiting in Uncertain Times.