2009 is ready to go into the record books. The worst year of economic news since the Great Depression is just about over. But what did a year of stimulus packages, TARP, CARS, bailouts, layoffs, and extended unemployment benefits teach us in the recruiting world?
Sitting on the sidelines is ok, as long as you do not become complacent and fearful of acting.
In the financial world 2009 turned out to be a great year to stay put with your investments and do nothing. Since March, many investors who stuck with their stock index funds watched portfolios rise 60%, a $1.5 trillion return to American’s nest eggs. But remember, workers’ 401(k)s and savings plans are still below their peaks and with inflation and tax hikes on the horizon other actions to gain returns are going to be necessary. So, staying the course works to an extent. And now with GDP and worker productivity rising, workweek hours getting longer and temp hiring continuing to rise, signs point to companies getting ready to add staff. If you’ve been waiting out the recession, there’s a change in the air when it comes to recruiting. Be active or have strategies in place in order to act or you’ll fall behind.
One of the biggest changes occurring in the past year has been the realization that one of the most effective ways to recruit talent in the new recruiting landscape is through candidate engagement. It’s the impetus behind the rapid adoption of utilizing social networks and talent hubs as an essential recruitment strategy. Remember, though, that technology is a tool, not a crutch, and shouldn’t replace common courtesy and common sense when dealing with candidates. So many companies still view recruiting as a chore and candidates as a bother. Witness what happened to Anne Kadet, author of a great SmartMoney article entitled “My Battle For A Sales Job.” She tells of her desire to land a part time holiday job in the retail industry to get first hand experience in what candidates are going through in today’s job market. Her experience shows that many HR departments still don’t get the idea of cultivating candidates and engaging them in meaningful dialogue. Curt replies from irritable company representatives, computerized interviews with no human interaction, and harshly worded email responses that end the interaction between the candidate and HR were the norm. Admittedly, her experience is with the retail industry but I bet there are other companies and even whole industries that operate this way. Even though there are record numbers of potential employees out there, make sure you treat them in a fair, thoughtful and professional manner in order to promote your company in a way that reflects a positive image. In other words, your employment brand must be enforced on all levels and with all strategies you employ.
The time is now to act as a forward-thinking recruitment function and engage those candidates who will be crucial to your firm’s success. Be ready for 2010.
