We set our recruitment business up during the last recession – and nearly 15 years later, we continue to do what we love – connecting people to thrive.
There is no denying the UK is going through a period of economic uncertainty, and it can bring with it doubts about how to manage employee retention and new recruits that will drive a culture to thrive so your company can take advantage of post-recession opportunities. Reports suggest this recession might buck the trend as recruitment intentions continue to grow in several sectors.
Fast-moving changes in recruitment
Business owners, HR Managers, recruiters, and everyone in between have felt the fast-moving changes in recruitment, with vacancies remaining unfilled and employee retention rates dropping. There are speculations around the reason for this recent evolution in the workplace, include employees having higher standards and expectations of their employers than previous generations and companies now under more pressure than ever before to good retain staff members.
Our team understands the multiple layers businesses face during economic downturns, especially in the employee market.
We have captured our top 5 tips for recruitment during a recession:
Listen closely to what your candidates want:
We know a quality candidate when we listen to one and realise they have the potential for multiple offers. They will desire to work with a company that best aligns with their reasons for changing jobs. This may come from various reasons, from redundancy, stability or the need to change to achieve their goals.
Focus on quality wins:
The demand for the best talent does increase during a recession, so by focusing on quality, not quantity you could fulfil the company’s needs closely and be less expensive than hiring multiple employees.
Don’t drag your feet:
When you find your ideal candidate – don’t wait! Give them a call and share why they are the right candidate for your company and your vision for them within that role and beyond. Explain the benefits they might receive, like pensions plans, gym memberships, holidays etc – it helps to build interest and excitement. We talk about this more here:
Make prospective employees feel welcome:
First impressions really do count, especially when retention is high on the agenda. Engage, respond and inform. Communicate the value they will offer to your company and ensure candidates understand your mission and value.
Work with professional recruiters:
If you decide to work with a recruitment company, it’s worth engaging with someone with experience leading through a recession. These turbulent economic conditions require a different skill set and an understanding of what needs to be built, and how to communicate and follow up.
Recruiting in a recession is challenging, and it’s common for companies to look for ways to cut costs or freeze recruitment plans. Your actions now can now pay dividends for your company’s long-term success. By focusing on the candidate experience and prioritising, your recruitment strategy can weather the recession.
We would love to share our experience of recruiting during a recession with you; why not give us a call and discuss your recruitment plans for 2023? Recruitment is at the heart of everything we do, and together, we can weather this stormy period, boost productivity and help you drive a culture that ensures retention.