Companies that are surviving and even thriving in an economic downturn face the daunting task of sifting through a mountain of job applications for any position they have open. Successful recruiting in this kind of economy boils down to information management. Hiring managers need to take advantage of the high supply in the job market and pull in the right people who can take your company to the next level. With the economy as it is, you may be able to get a bright shining star on your team that you wouldn’t have dreamed of being able to attract in the past, but now they’re just another resume on the street with everyone else that’s unemployed. Three tips for companies looking to hire during a recession are:
- Organization. Hiring managers are inundated with applications and resumes when there are so many candidates in the market competing for so few positions. Put tools and processes in place to streamline applicant tracking and management. Make sure you are equipped to handle the rush.
- Watch out for window shoppers. Highly skilled employees might just be looking for a job offer so they can get a counter offer from their current employer and bump their salary without leaving. Dig into this during the interview process to make sure you’re not dealing with a time waster.
- Talent is talent. Make sure you utilize your top talent. During economic downturns, you need to retain your key performers and be extra diligent about who you hire.
