Why A Recruiter Is Invaluable During A Recession
Recruiters play an important role in the structure of the economy and the stability of the job market. Some of their responsibilities include application screening, conducting interviews, curating/selecting interview materials, and reviewing resumes. They connect growing businesses with qualified employees, fill vacancies, and contribute to the continuous outflow of goods and services that make our economy run smoothly.
When the economy is strong, growing businesses rely on the talent and resources of a recruiter to help them fill vacancies with qualified candidates. But what happens during a recession? When employment is low, people are making and spending less money, and the demand for goods and services is low, a recruiter plays a valuable role in keeping businesses afloat.
Recessions and unemployment go hand in hand. When the economy slows down, companies are forced to make initial layoffs. These unemployed workers spend less money in the community, and this decreased demand for goods and services results in more layoffs. And while the cycle doesn’t last very long, people who lose their job during a recession often find it harder to re-enter the job market when the economy picks up again.
During this challenging economic time, a recruiter can be a valuable resource for many reasons:
A recruiter has quick access to a vast candidate pool
A recruiter has instant access to unemployed people who are willing to work temporarily. Temporary workers are one option but permanent placements are also popular depending on your business structure. The hiring process for temp workers is quicker, and these short-term employees typically come on board with a very specific skill set and a flexible schedule. A person coming on for a temporary job assignment may actually be someone that you’d like to hire directly.
Their pool of potential hires is bigger during a recession because people are looking for immediate work. This means they’re willing to accept temp work while they wait for a long-term position.
Using the right recruiter saves time and money
During a recession, businesses are careful about their spending and look for ways to reduce expenses. Usually, the first step is to lay off employees, even some of their top performers. This floods the job market with all kinds of great talent and boosts the number of people applying to each job description. A recruiter has quick access to these newly available candidates and can bring them on board quickly. This reduces the time and money spent posting job openings, screening candidates, and interviewing people who inevitably aren’t the right fit.
Using a recruiting agency makes it easy to hire when the economy improves
Another reason it’s smart to work with a professional recruiting agency is that the temp workers they connect you with could eventually become long-term employees. Taking them on now as a temporary worker gives you the quick, cost-effective help you need when the economy is slow, and these same people will be available to hire full-time once the economy improves. This puts the hiring process on a fast track and saves time and money.
The Bottom Line
It’s easy to dismiss the idea of working with a recruiter during the recession, especially because it could be seen as another expense. But the value a recruiter brings to a business during a slow economic time can lead to steady growth when things pick back up.
Want to learn more about how a recruiter can help your business? Click here to start the conversation.