A down market looks easy for hiring on paper. There are fewer open jobs and more candidates applying for each one. The catch is that the best people often stay put. When jobs feel less secure, someone in a stable role is slow to leave it for one that might be less stable, even if they are not fully happy where they are. The people you most want become harder to reach.
You can still hire them with a proactive, flexible approach. Here are six ways to go about it.
Six strategies
Go to candidates first. Strong candidates may not be looking, so you have to reach them. Plan a deliberate sourcing strategy, run employee networking campaigns, and host virtual recruiting events.
Offer flexibility. Remote work or part-time hours can win over people who are nervous about making a move right now.
Be honest about where the company stands. Tell candidates about market conditions and the challenges your company faces. When they understand the context and the risks, they are more likely to accept an offer.
Get creative with your offer. Extra vacation, professional development or a flexible schedule can set your offer apart.
Focus on the roles that matter most. Some roles will be harder to fill than others. Put your recruiting effort into the ones that are critical to the business.
Give it time. Expect a longer process than in a strong market, and do not rush to fill a seat with the wrong person.
Bringing in a recruiting partner
A recruiting partner like Mavericks Recruiting on Demand can also help. A good partner reaches a wider pool of candidates, scales its effort up or down as your plans change, and shares data on recruiting trends. That expertise improves your odds of finding and hiring great people when the market is slow.