Lay-offs are an inevitable part of the economic cycle and in a downturn even the most robust businesses will feel the pinch, either in spiralling rents, supplier hikes, lost contracts or interest rates on loans. When the squeeze occurs, hiring might not be your business’ top priority but crucial gaps also need to be filled to ensure long term success. Navigating the hiring waters at these times takes skill, cunning and sensitivity. Here are some tips on how to get it right.
Prioritise hiring needs
It may seem obvious but evaluating the actual need against desirable ones in a downturn is a crucial investment decision. Employment costs are hefty and using robust analysis to understand where the actual gaps are is an important strategic decision which may feed into whether the business survives or not.
Embrace the side hustle
Taking on a full-time employee is costly for any business with the total amount including sick pay, parental leave, holiday leave allowances and more. In a recession it may be that a certain need is required for a shorter amount of time and savvy businesses within the sector should consider taking on multiple part-timers, freelancers or those wanting to supplement their income with a second job. This will boost the headcount and talent but diminish your employer responsibilities in terms of costs.
Upskill current staff
Keeping your current staff engaged and motivated during a recession can be met by upskilling them with in-house training and development that in turn can lead to some employees filling more senior gaps in the business. Not only does this boost morale but it also ensures that development is championed internally and that the business is recognised as a good place to work with reward being intrinsic to its culture.
Offer remote or hybrid working
Benefits should be seen as a whole and some perks carry more weight while also not representing a financial element. Offering the opportunity for employees to cut their commute may be worth more to them than a higher salary. Consider opening up opportunities that enable some form of hybrid working if that is possible and supported by digital communication channels as well as the senior leadership team.
Stretch the search
Recession puts doubts in people’s minds and those that may have considered jumping ship may hold on in exchange for the certainty of their salary, employment tenure and benefits. Plucking away key PR talent becomes more difficult in these times. This is where the employer brand, its long-term goals and reputation in the sector can place the business in good stead as a reputable and loyal business that stands by its employees.
Implement selection tools
There may be a hike of newly redundant applicants and therefore a higher volume of candidates. Investing in superior screening tools ensures that the right people are filtered through to the next stage. Ensuring that the process is free of bias is also crucial if the employer is to protect its brand and build a diverse and talented team.
Test, test, test
Hiring the wrong candidate is costly and while screening, interviews and references are all vital in helping recruiters reach the right decision, little else can provide a true evaluation bar measuring a candidate’s potential performance in situ and where two candidates are pitted against each other it can help highlight the right choice.
Advertise with precision
Utilise the tools of the PR profession and lower the costs of job adverts with campaigns on social media and affiliated platforms. Adopt keywords and hashtags to target particular demographics or skills. Consider the vertical job boards specialising in your profession including PRWeek Jobs to ensure that those with the right skills know about the opportunities that you offer.
Taking on staff is a big decision that comes with responsibility. Aligning robust hiring strategies with flexibility, together with an eye on costs, will ensure that your business fills its needs when key talent may be holding onto their current roles for fear of being unemployed or that a plethora of applications doesn’t weigh down time to hire and muddy the way to the right person.
If you would like a free consultation specific to your needs, write to us at hbm.recruitment@haymarket.com or visit PRWeek Jobs
