Things have changed a lot for us over the last four weeks or so. There is an enormous amount of uncertainty, concern, stress, job losses, companies going out of business, workers on reduced hours, staff on furlough and people working from home. Certain parts of the world are emerging from the crisis and others still awaiting the peak.
So how could this possibly be the best time to hire?
Firstly, there are fewer companies hiring and therefore there is less competition for that next superstar employee. Many companies have put recruitment on freeze, and many have laid people off. If you are recruiting now you won’t be competing with anywhere near as many organisations and competing offers as usual.
Secondly, those workers that are on reduced hours or furlough are all nervous, to varying degrees, about their return to work. Will they return? What will their company look like when they do go back? Will their employer be stable, or will it be fighting for its life and therefore not investing in the business? What does this mean for that employee’s future career plans? Will they have a job?
Thirdly, Many Candidates are taking this time to consider what’s really important. They are thinking about their career aspirations, what they like and what don’t like about their current role. They are also looking at how they are being treated and supported during this period. In short, many are open to conversations about alternative opportunities, they are at home and more accessible than ever.
Finally, some amazing talent is suddenly available as companies have gone bust or made redundancies. If anything, the talent pool in many sectors has grown and therefore there is a reasonable supply of great people.
As many Companies retreat, now may represent a unique opportunity to engage with and hire that next superstar and really get ahead of the competition.
Big tech companies hired aggressively during the last financial crisis, and they're doing it again.