Most of the news we hear
about lately is bad--job losses, companies going bankruptcy, customers refusing
to buy and the numbers of Americans on unemployment growing. But what the headlines don't tell us is
that now is the perfect storm for recruiters and employers to find high quality
talent at a lower cost. Below are the reasons why:
- Many employers are holding back because of
fear. They fear that their company's
revenue won't generate enough to support new hires so they wait for
indicators that things are getting better. Unfortunately for them, smart companies realize that
they have less competition for top talent when other businesses "wait
out the storm."
- There are a lot of job seekers on the
market. Yes, there is a labor
surplus in America right now, which gives employers and recruiters more to
choose from.
- More high quality talent is unemployed, which
means that they are available to recruiters and employers who may have had
difficulty accessing them previously. In good times, high quality talent
is rarely laid off.
- Because the numbers of high quality talent has
increased, many previously expensive job seekers are now willing to accept
offers that they may not have considered before. This offers an opportunity for smaller businesses to
access high value candidates that were previously only accessible to the
"big players."
So the next time a client
tells you that they are waiting out the storm, remind them that this storm could
benefit their business.