4 Steps Organizations can Take Now to be Prepared to Hire Talent When the Economy Ramps Back Up
As a business leader, hopefully you have stabilized your organization over the last few weeks and can now start to plan on how you are going to attack the rest of 2020 and start growing again. As we all know, we need the right team to attain our goals and those who start now will have a distinct advantage!
Not an exact science, but I looked at all 94 categories of the March 21 through April 11 unemployment numbers released by the Minnesota Employment and Economic Development department and in my estimate, approximately 70% of the current Minnesotans on unemployment should hopefully be back to work soon! These are individuals within specific categories such as Food and Beverage Serving, Cooking/Food Prep or Retail Sales etc.
Prior to the COVID-19 outbreak, we all struggled to attract top talent and now we all have a short window of relief when it comes to recruiting. Thankfully, as mentioned, many (70%) of the unemployed will be back to work soon but that still leaves 30% temporarily displaced. Within that group, there are some very talented people that could add tremendous value to your organization. Below are four steps to get a jump start!
- Assess your org chart and find any gaps
- If you had to make cuts to your team, prioritize the critical roles/skills needed as business normalizes.
- Revisit your hiring plan for the year and again, list out what roles/skills are needed.
- Develop a plan to identify potential candidates
Now that you have your list of roles or skills needed:
- Spend some time on LinkedIn to identify potential candidates and make connections.
- Post the role on different platforms and state in the job posting that you are being proactive.
- Reach out to a recruiting firm partner and let them know. They will be able to make you aware of specific candidates that match.
- Start informational interviews
- Set time aside each week to have conversations.
- Make sure they know your current situation and that you are not actively hiring but will be soon.
- Goal of the conversation is to get to know people personally, understand where they want to take their career and what they are most passionate about, in addition to what their specific skill set is.
- Have a plan to stay in touch and hire when ready
- If you are not sure on when you may be in position to hire for a specific role, after each informational interview, set a follow-up call with them to stay in-touch.
- If there is a high degree of interest, do not be afraid to ask them to call you if they are getting close to taking a new role in case there is a possibility to speed up your hiring timeframe.
While the slowdown in business can be scary for your organization, it also presents tremendous opportunities for you to have a head start on building relationships with talented professionals who you will want to hire once business starts moving again.
Other Posts by the Author
- How Companies Can Prepare for a Virtual Interview in the Wake of Covid-19
- Looking to Improve Your Employee Retention? How’s your Employer Brand?
- Vistage Executive Summit Recap: Economic Forecast & Recruiting Struggles
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