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Recession Proof Recruiting by Nelson Abreu The "R" word is once again making strides as the buzzword of the corporate world. With some industries already experiencing mass layoffs and echo's of spillover effects you may have already considered pushing the "warning" or "panic" buttons. How can we insure that our own demand will not dive or flat line along with the business sectors we serve? The back-to-basics three-step anti-recession plan! 1. Research 2. Strategize 3. Network Research The best expert in your industry is you. Start speaking with your clients and get a better feel for the corporate pulse. Try to find out what their hiring plans are for the next quarter, year, etc. Don't overlook the people you've placed with them either. They'll often give you a very different opinion on what's happening than management does. It may be a good time to make some post-placement follow up calls to hit the root of the vine. If you are probing for restlessness or fear you'll get it from staff much quicker then management. Attitudes will vary from one company to another, from different professional types within companies, etc. The ultimate red flag is receiving streams of phone calls from employed applicants and candidates inquiring about the marketplace. Strategize See the big picture and know what your best available options are. Consider diversifying your portfolio in different areas. There are a few approaches you can take. Consider serving your industry and clients with different professional types than you do currently. For example, if you are a technical recruiter you can begin to provide sales, marketing, human resources and/or accounting professionals from within your industry. If you really enjoy working within a specific profession type you can consider crossing industries. Approach employers in other markets or industries with sharp people from your current industry. Skill sets are transferable and will be attractive to companies in markets experiencing a greater talent demand. Consider establishing contacts in other regional or global markets. It's tough to move people when local markets are thirsty and much easier when saturated. Network Stop turning away searches that aren't directly in your preferred niche(s). You'll yearn for the attention later on. Be the first one to make the shift and you'll have leads and contacts established before everyone else realizes that they need to react. Let's take it one step further! Start reconsidering all the searches you've turned away in the last year or two. The key here is to start planting seeds with your contacts. If new business isn't knocking on your door, market a candidate or two to let your contacts know you're on the ball and to keep your name fresh in their minds. Consider it an ice-breaker. If you do end up experiencing the recession blues your subsequent calls won't be surprises or come across as pleas. During recessions it becomes increasingly important that you close as many job orders as possible because you don't have the luxury of falling onto other openings. In boom economies we tend to have a lot more "irons in the fire" and the impact of losing a deal or two isn't felt nearly as much. Competition will be fiercer and retained searches will be harder to come by. With a limited amount of job opportunities available you'll maximize your earnings by achieving a maximum job order to placement ratio. Your key to success is through establishing a reliable network of peers that you can count on for splits. If you haven't had to count on a split in the past half a fee is a lot better than no fee at all. Don't be left without anyone to turn to when your search takes a turn for the worst! |
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