Recruiting during a recession is not an easy feat; there is business that needs to be done and not nearly enough funds to hire the quantity and quality of employees. Nevertheless, many economists believe that recruiting during a recession is the best way to find talented employees. Considering the large number of corporations performing cutbacks and layoffs, there is a lot of available talent around the world just waiting to be recruited. However, you are going to need to be prepared as employees do need a certain level of financial security for such talents and you will need to allocate your time properly as there will be hundreds of potential candidates.
The unemployment rate in the United States is at an all time high since the early 80s with about 6 million job lay offs since December of 2007 (http://www.usgov.gov). The same story is heard all around the world of cries of economic woes. The talent is available. Now, it is just a question of how to recruit while in a recession. Although it is true that any job offer is better than being unemployed, this is no reason to neglect one’s moral and ethic responsibility as a recruiter. Recruits need at least a basic and competitive hiring package for their desired talents and not a “race to the bottom”, outsourcing type of compensation plan.
Your company relies on talent in order for it to surpass the difficulties of a recession and to bring you to the forefront, defeating all other competitors. For this reason, recruiters can analyze the past performance, salary and bonus incomes in each previous employment and curriculum vitae to create a recruiting package which will be fair for the recruit and beneficial to the company in terms of newly recruited talent who will be joining the team.
Recruiters need to be on the lookout for talented people who fit the job requirements and who are looking to stay put. You want a professional who will stick with the company through thick and thin. A professional who demonstrates these characteristics will become a valuable asset to the company overtime because companies do need loyalty and faith during an economic recession.
Overall, as a recruiter, you must be adept to what your client is looking for in a professional. Therefore, you must be well versed in the company’s needs, demands, values and even morals. By understanding the company inside and out, you will be more efficient in choosing potential candidates whose talent will be able to revive a company during an economic recession. During economic turmoil, companies are often not only stressed because of poor revenue but also due to the decreasing amount of talent in their company. For this reason, recruiters play a crucial role in the recruitment process because they are able to find the perfect professional to make up for the loss of talent and also as a person who can neutralize the chaotic situation within the workspace.