Best of Times Worst of Times Recruiting in
Best of Times, Worst of Times: Recruiting in a Down Economy Presented by Tom Darrow Founder and Principal, Talent Connections, LLC #86 on the 2007 Inc. 500 2006 -2007 President, SHRM-Atlanta Member, SHRM Staffing Management Expert Panel May 20, 2008 Copyright 2008 Talent Connections. All Rights Reserved.
Agenda • Implications Outside the Company • Implications Inside the Company • Implications for Yourself Copyright 2008 Talent Connections. All Rights Reserved.
References • Interviews with key recruiting leaders – The Coca-Cola Company, Booz Allen Hamilton, Children’s Healthcare of Atlanta, Autotrader. com, others • Articles • My own experience Copyright 2008 Talent Connections. All Rights Reserved.
Down Economy? • • • Mortgage lending Home values Gas Prices Inflation Stock market Hiring – 20, 000 jobs cut in April, the 4 th consecutive down month (U. S. Bureau of Labor Statistics) Copyright 2008 Talent Connections. All Rights Reserved.
Implications Outside the Company • Candidate pool – Larger pool of “B” and “C” candidates • Positive: less effort/cost to source • Negative: more volume • Hiring Managers often want to see more candidates – “A” candidates still hard to find and recruit Copyright 2008 Talent Connections. All Rights Reserved.
Implications Outside the Company • Recommendations: – Leverage Employee Referral Program – Reduce use of search firms • Keep executive level searches in-house – Identify industries/companies that are down – Ensure your assessment process is effective Copyright 2008 Talent Connections. All Rights Reserved.
Implications Outside the Company • Candidate Management – Communicate • Positive news • Often • Openings – Deepen relationships with “A” candidates – Be cognizant of housing market on relocations • Brand refresh – Renew recruitment marketing messaging – Career site Copyright 2008 Talent Connections. All Rights Reserved.
Implications Outside the Company • Alliance Connections – – Alumni (Boomerangs) Campus Service providers Peers • Competitive profiling • Beware of vendor reliability • Don’t ever use “hiring freeze” Copyright 2008 Talent Connections. All Rights Reserved.
Implications Inside the Company • Recruiting Infrastructure – – Sizing Expertise Alignment with the business Utilize contract resources and others Copyright 2008 Talent Connections. All Rights Reserved.
Implications Inside the Company • Alternatives to cutting HR/recruiting staff – – – Tour of duty in another department Developmental assignment Overseas assignment Contract work outside the company Get creative!! Copyright 2008 Talent Connections. All Rights Reserved.
Implications Inside the Company • Connect with the business – – – Conduct a Recruiting Process Audit Build relationships with Hiring Managers Build relationships with Senior Management Attend industry/product specific training Re-recruit top performers inside the company Copyright 2008 Talent Connections. All Rights Reserved.
Implications Inside the Company • Process Efficiencies – – Metrics Technology Separation of duties Sourcing channel analysis Copyright 2008 Talent Connections. All Rights Reserved.
Changes in key recruiting metrics Quality of Hire Cost Per Hire Time to Fill 1980’s to early 1990’s 2 1 3 Dot-Bomb Era 2 3 1 2001 -2003 2 1 3 2003 -2007 2 3 1 Today 1 1 1 Copyright 2008 Talent Connections. All Rights Reserved.
Implications for Yourself • Continue to work hard • Enhance your recruiting expertise – – – – Conferences Training (AIRS, DDI, etc. ) Certification (SPHR, etc. ) Books Articles Webinars Peers Copyright 2008 Talent Connections. All Rights Reserved.
Implications for Yourself • Learn other skills – – – Leadership Sales Negotiation Time Management Accounting/Finance Technology • Deepen relationships with your supervisor Copyright 2008 Talent Connections. All Rights Reserved.
Implications for Yourself • Assume a leadership role in the profession – SHRM • Staffing Management – Local SHRM Chapters – Other Recruiting/Staffing organizations Copyright 2008 Talent Connections. All Rights Reserved.
Implications for Yourself • Enhance your personal brand – – – Write an article Speak Conduct a webinar Write a book Professional Image Copyright 2008 Talent Connections. All Rights Reserved.
Implications for Yourself • Pay it Forward – Help others in a job search • Inside the company • Job seekers in the profession • Job seekers in the community • In the end, during a recession is the best time to be in the recruiting business Copyright 2008 Talent Connections. All Rights Reserved.
Questions and Answers Copyright 2008 Talent Connections. All Rights Reserved.
Good luck and Thank You! Tom Darrow Founder and Principal Talent Connections, LLC 175 Inverness Approach Roswell, GA 30075 770 -552 -1550 ext. 111 Tom. Darrow@talentconnections. net www. talentconnections. net Copyright 2008 Talent Connections. All Rights Reserved.
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