Tuesday, October 4, 2022
HomeRecruitmentMaking Expertise Acquisition Much less Painful In a Down Market

Making Expertise Acquisition Much less Painful In a Down Market

Many corporations are decreasing headcount budgets in gentle of the financial downturn, bringing about new challenges for expertise acquisition professionals:

  • Layoffs or hiring freezes in your Folks group could make it tougher to handle the recruitment course of. As an illustration, you could not have devoted sourcers to seek out passive expertise or recruiting coordinators to schedule interviews.
  • Decreased headcount in different areas of your group could imply your fellow group members (learn: interviewers) are busier as they tackle extra obligations. This leaves much less time for them to interview and submit suggestions.
  • Headcount reductions may additionally impression your candidates if provides are rescinded or job requisitions are placed on maintain as soon as the recruitment course of has already begun. These situations can impression your employer model, making it tougher to draw and have interaction expertise now — and doubtlessly for years to come back.

In the meantime, the U.S. Bureau of Labor Statistics reviews that there are nonetheless two job openings for each unemployed candidate. Job seekers have many decisions in relation to the place they wish to work and it’s main employers to face vital expertise shortages.

In actual fact, an Make use of report discovered that 4 in 5 expertise acquisition professionals say that attracting prime expertise has turn out to be tougher over the previous yr, with 33% stating that it has been very difficult.

5 tricks to make your life simpler

A down market could introduce many new challenges for expertise acquisition professionals — however it might probably additionally present some alternatives to level-up expertise maturity at your group.

Listed here are 5 issues you are able to do to make your life simpler over the subsequent few months and bounce again stronger as soon as the economic system recovers.

1) Automate guide duties

Decreasing or eliminating guide duties will help you construct a extra environment friendly recruitment course of. This permits your group to get by with decrease headcount now — and scale up sooner when hiring resumes. For instance, you possibly can automate:

  • Job distribution
  • Interview scheduling
  • Candidate follow-up messages
  • Interviewer suggestions reminders

An automated and streamlined expertise acquisition course of additionally lets you enhance your candidate expertise so you possibly can win extra nice expertise on your group.

For instance, a nurture queue will help you construct stronger candidate relationships and enhance your candidate conversion charge.

2) Use structured interviews

Structured interviews are sometimes used as a result of they give every candidate the identical recruitment expertise so you possibly can consider them on a stage taking part in area. However this recruitment technique additionally has one other key profit: interview effectivity.

Having a longtime course of and a set set of questions you ask each candidate allows interviewers to take part within the recruitment course of with much less effort and extra success.

And once you use the hiring standards to create a scorecard for every place, your interviewers can simply test off packing containers and jot down notes as they chat with candidates. This will velocity up the interview suggestions course of so you may make choices and get again to candidates sooner.

3) Preserve involved with candidates all through the recruitment course of

Communication is among the most necessary features of the candidate expertise. Even in case you’re understaffed — and particularly if headcount funds points impression a candidate — nice communication is essential to keep up your employer model and construct robust candidate relationships.

Let your candidates know instantly if something in your course of modifications and the way they’ll be impacted. Open, sincere, and well timed communication can maintain your candidates engaged in your recruitment course of, even when it’s on maintain in the meanwhile.

The market will finally bounce again and also you wish to be certain you continue to have a prepared expertise pool when it does.

4) Recruit, prepare, and promote high-potential expertise

When headcount budgets are low, you could not be capable to pay prime greenback for top-tier expertise. However that doesn’t imply you possibly can’t develop your individual prime performers.

Recruit high-potential candidates — these with the power and motivation to turn out to be prime performers — and develop them to succeed in their full potential.

Take into account inner expertise when new job requisitions open so you possibly can fill roles with certified candidates sooner, whereas additionally bettering worker retention. In actual fact, LinkedIn discovered that excessive inner mobility can double worker tenure.

5) Make extra compelling job provides

You don’t wish to discover a terrific candidate solely to have them flip down a proposal or just ghost you after accepting a proposal.

Jobvite’s 2022 Job Seeker Nation Report discovered that candidates have many causes for looking for new roles:

  • 27% are searching for higher compensation
  • 20% need alternatives for skilled progress
  • 16% need the flexibleness to make money working from home
  • 16% need higher work-life steadiness
  • 16% need higher well being advantages

Discover out what motivates your candidates so you possibly can focus on how your group suits the invoice — and be sure to reiterate your finest promoting factors throughout the provide stage.

This will help you improve your provide acceptance charge and maintain your time-to-fill in test.

Preserve waiting for construct a greater expertise acquisition perform

Financial downturns are difficult for a lot of however they don’t final endlessly. Preserve wanting forward so that you’re ready when the market recovers.

Construct expertise pipelines with expert candidates — together with these you want you would rent now in case you had the headcount funds for them. Consider your expertise acquisition know-how stack and establish alternatives for enchancment. Develop a extra environment friendly recruiting workflow. Overhaul your candidate expertise.

Any enhancements you implement could make your life simpler now — and enable you to come again stronger on the opposite aspect of the down market.

Request a Lever demo to find out how our TA suite will help you streamline your recruiting, enhance your candidate expertise, and scale your hiring as soon as the economic system recovers.

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