An Easy Mistake – Putting Recruitment Plans on Hold
At the time of writing it is October 2020. Manchester has just gone into a Tier 3 lockdown after one hell of public spat with the Government in order to do so. Northern Ireland has locked down for 4 weeks. And several other cities are due to follow imminently. Many companies are playing it safe and putting recruitment plans on hold.
We are experiencing the most redundancies since…well the last recession. Boris Johnson is inspiring less confidence than England’s chances at a football world cup. And there is no cure for a virus that is causing absolute havoc globally.
So, you’d be forgiven for deciding that now probably isn’t the best time to hire staff.
An Easy Mistake to make
I understand if financially your business is at deaths door. However, if your company is not in that position and has money in the bank then what are you doing with it? Putting your recruitment plans on hold?
The sensible thing to do is to hold on to what you’ve got and try to ride things out. But are you missing a trick?
History indicates against putting recruitment plans on hold
If the last recession is anything to go by the companies that emerged stronger from it used a different tactic. Those companies strategically hired for future investment purposes. This didn’t mean they spent all of their money, but they saw the opportunity staring them in the face.
1 year ago when you were hiring left, right and centre who were the dream candidates you were after? How easy were they to find? Tough? Really tough?
Today those same people are either getting let go or looking over their shoulders.
The Window is Open
Now, right now the window is open. The very people you were after 1 year ago are now on the market. If you hold off until early or even mid 2021 where do you think those great candidates are going to go?
They’re not just going to be sat there waiting for you to take your recruitment plans off hold. Some savvy company, probably a competitor you might not even know will use their loaf and get them now. And that competitor who isn’t even on your radar will emerge with the talent to cause you problems in future.
Take the Opportunity
If you have the money to invest now, get the best people. Take the opportunity whilst you can.
If someone opened a bottle of champagne for you would you let it evaporate over time or drink it whilst you can?
There’s playing it safe and then there’s missing an opportunity. People are hiring. Companies are investing. What are you doing?
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