It seems completely counter-intuitive, but right now - in the midst of a historic recession - might just be the very best time to hire both contingent and direct-hire professionals
Before you hit delete, here are three reasons you should increase your pursuit of top talent in a down economy:
- Your competitors let go of some premier talent that's been beating your brains in.
Even the best, most talented employees suffer from layoffs. In tough times, many outstanding professionals get laid off. Now could be the time to strike and bring your competitor's former all stars on to your team. Upgrading your talent in a down economy must be one of your core talent acquisition strategies if your business is to emerge in a stronger competitive position when the economy rebounds.
- The contingent labor pool is better than ever.
In a strong economy, it's much more difficult to find highly-qualified professionals who are willing and able to work as temporary employees. With over 4 million people out of work temporary staffing firms are overloaded with outstanding, highly-skilled professionals who would be more willing than ever to consider contingent work.
If you have projects that must get done, and you can't commit to hiring FTEs, you should strongly consider contingent labor.
- Entrepreneurial professionals are looking for stability.
You know them well – in fact you may have lost a few of your highly valued employees to the allure of a dot.com or startup. Now these same highly-driven, successful professionals who left traditional corporate America are looking for financially strong, long-term bets. If your organization can demonstrate its financial strength and staying power, you have a huge advantage in this market. Capitalize on it and recruit the hard-working, highly talented risk-takers who make things happen.