In this video, I discuss the challenges firms address when hiring during times when there is economic volatility or a down economic environment.
Stock market volatility has reminded me of a subject I haven't covered in a while so I thought I would bring it to the fore. And that is from a hiring perspective, volatility evokes fear and that has an impact on your hiring process. How? Real simple. People get nervous. They get nervous about whether they should change jobs. After all, the story goes, the last one in is the first one out. Now, you know, both of us know, that this isn't true. But that is such a part of American lexicon that it's hard to dissuade people about it. So, you may start to see the number of resumes decline during times of volatility as people get nervous or if there's an altogether, slow down in economy.
You know, until firms start the layoffs, you may see resumes drying up as people become fearful of changing their circumstances. After all, here's another one of those cliches, the devil they know is better than the one that they don't know.
So, what I would encourage you to do is be proactive. As you get people in the door for your jobs, I'm not telling you to be flexible. I'm telling you to sell. I want you to sell hard.
So, if your stock market prices down sharply as many prices will, there are firms that at the time that a person is giving notice is going to point to that and go, "Gee, you're going to a firm that's been hit hard by the the slowdown. Why would you want to do that?" And most people don't have already answers to that. So they wind up being susceptible to counter offers, I want you to take the bull by the horn, and really sell the people that you're interested in, even ones that you aren't.
The reason for selling to the ones that you aren't, is because there's less noise. You don't want to have the negative remarks that people make online or to friends, or to colleagues or to former colleagues interfere with the flow of potentially good employees, because no one feels cared about. Even when you turn someone down, you need to do it in a good way and simply say, "we thought long and hard about this one and you came in second," or there was some good people that we saw that were a little closer fit to what we were looking for. Nothing wrong with your background. You were terrific. And these were just a little bit tighter." You know, it just goes a long way toward the PR part of how you wind up recruiting.
From a recruiting standpoint recognize that the old tactics of just inMailing people on LinkedIn and hoping for the best won't work as well. You really do have to call them so they hear your voice and that you care for them. You need to reach out to more people probably to fill jobs and when you get them in the door, you need to always be selling. If there are areas where you firm might be susceptible, like your stock prices down 20 - 25%, you have to speak to that and simply say, "hey, look, this is one of these market corrections; our businesses strong. You know, our sales are, on course for hitting our numbers."
Whatever it is, you need to speak to that in the interview so that people don't become susceptible to counter offers as they often are.
ABOUT JEFF ALTMAN, THE BIG GAME HUNTER
Jeff Altman, The Big Game Hunter is a career and leadership coach who worked as a recruiter for more than 40 years. He is the host of “No BS Job Search Advice Radio,” the #1 podcast in iTunes for job search with more than 1400 episodes and his newest show, “No BS Coaching Advice.” He is a member of The Forbes Coaches Council. “No BS JobSearch Advice Radio” was recently named a Top 10 podcast for job search. JobSearchTV.com was also recently named a Top 10 YouTube channel for job search.
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