Will you be ready to recruit when the recession ends? Part 4

Being in recruiting is especially challenging during a recession. This series of posts is designed to help you land on all fours when the pendulum swings up again. Last week's tips included: using free agents, contractors, and student placements, considering the options, in-sourcing and cutting back on full service agencies, being aware of changing motivators, and learning to deal with a cynical audience.

Here are this week's suggestions:

16. Continue to grow your talent pool
One of your most cost-effective sources should be your own database of talent. This should include people that have been recommended, candidates that have interviewed and you rate highly, but you did not have a suitable position at the time, and past employees that have left of good terms. An eRecruitment System can help you to do this seamlessly – make sure you take advantage.

17. Be better at retention
Retention rates should level out during a recession as employees decide they are betting “staying put” rather than risking joining a new firm. However, what are you doing to reduce retention in the long run? On average, 20 percent of your workforce leaves each year. If you could just reduce that by 5 percent, it would make a significant difference.

18. Use incentives
Consider using short-term incentives to motivate and encourage current employees to deliver at top productivity levels. Incentives don’t always have to have a price tag attached (though those are always welcome). Awards, such as employee of the week, offer much needed recognition.

19. Demonstrate you are here for the long run. 
It is a scary time for new hires. Show your company has staying power by making available any stats on growth and longevity. Make sure any future plans are transparent. Communicate, communicate, communicate.

20. Be flexible and be nice!
Being agile and open minded is wonderful trait to have in life, both personal and work. Remember, this recession is a phase and people have long memories.

Keep an open mind and be prepared to work harder than ever and to keep learning.  It’s not often you get the opportunity to reflect on how you do your job. If you use your time wisely and are creative you will come out of the recession with a more efficient recruiting function.

-Susannah
 

Comments

[Gina Walker]

I believe 17 and 18 are closely interrelated. And I agree with non-monetary forms of incentives - I believe the key is to recruit people who are motivated more by their job per se and the challenges that come with it, instead of just the paycheck that they receive.

[Chinese Recipes]

thanks so much, a great post!