How to keep your job as a recruiter through a recession
The current global economic recession is clearly affecting many industries right now. As someone in charge of recruiting, it can be difficult to feel confident about the future of your own role when all we’re seeing is layoffs.
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In a recession, businesses seek out the lowest hanging fruit in order to cut costs and hiring freezes are common.
Obviously this means that there is less demand for recruitment. Making a recruiters life even harder, candidates are less likely to jump ship during a recession, as priorities shift towards job security.
During this time, it is crucial for recruiters to continue to provide relevant value, in ways other than hiring. For internal recruiters, this means showing up as the company’s trusted advisor, who can help navigate the difficult recruiting landscape:
Be proactive
Develop your company’s EVP.
Working on your company’s EVP is often one of those extremely important tasks you never have time for. Use this time to action all of those great ideas you have to make the company stand out as employer numero uno once hiring kicks back up again. Be sure to add these to your plan:
Create micro brands per department
Update LinkedIn company page
Create employee LinkedIn template
Create / overhaul your careers site
Gather top performing employee testimonials for case studies + social media
Build insights through surveys and discussions about your EVP
Build and nurture your talent pools
Having a pre-established relationship with a pool of potential hires can reduce your time to hire and give your company a competitive advantage in the hiring game when you hit the go button again. When thinking about how to nurture your talent pool, remind yourself to keep them front of mind. What do they care about? What would be helpful for them to know? What do you want them to know? During a recession, employers may be looking for different skills than they were before, so be prepared to think outside the box.
Optimise the hiring process
Starting from scratch each time you go to hire is a pain. Spending time getting your hiring process right, with as much of it automated as possible, is an exceptionally valuable project to take on when you’re not actively hiring. When it comes time to hire again, you (and your company) will notice a massive improvement in hiring decisions, and, importantly, a huge drop in time and cost to hire. Plus, removing the need for Agencies and their high fee’s is where you can really save BIG. Components of the hiring process worth taking a look at are:
Deep dive into DATA: how good has your hiring been - in relation to retention/engagement, performance!
Explore conversation at each stage of your hiring process
Review your job ads
Create interview guides
Review all candidate communications
Uplift the existing internal capability
Lean into those strategic talent conversations. You may not be growing the team for the foreseeable future, but that doesn’t mean the business has to stop growing. Initiate internal mobility processes, proactively explore business goals and talent gaps.
Coming up with ways to fill skill gaps by utilising or uplifting the existing internal team during a recession!? Surely that’s reason enough keep you around!
Clean up your ATS
There is no better time for a candidate data spring clean! There’s a bundle of value sitting in there waiting to be rediscovered.
Be flexible
During a recession, companies may be more likely to reduce their full-time workforce and instead rely on part-time or contract workers to fill in the gaps. By being open to these types of work arrangements, you may be able to stay employed, even if it is not in your original capacity.
Reducing to part-time or project work can open up space for other opportunities, be it further education, or other part time employment options. This can help to diversify one's income streams and protect against the risks of relying solely on one employer during a recession.
Be informed
As a recruiter, it is beneficial to always be aware of the latest industry trends and changes. During a recession it is an activity that could help you keep your job. You can become the 'ear to the ground' for all things relating to people in business. Industry publications, attending online events, and networking with other recruiters are examples of low cost channels which can be mined for valuable information.
Be relevant
Keep your skills sharp and be open to learning new things. Whether it’s learning a new, more efficient technology or furthering your education in a complementary field, being willing to learn and evolve will help you stay relevant both to the company, and the ever-changing world of recruiting.
Be vocal!
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As a recruitment professional, your value outside of your normal hiring routine is massive. You know that, we know that - and now is the perfect time to remind your employer. Adapt these ideas into a game plan for your next few months and stick it in front of whoever needs to see it - we guarantee the value will speak volumes!
