Attracting New Recruits in the Credit Crunch

Job roles within times of the current economic climate are said to be reducing - we here all too many stories in the news now of closures and redundancies that follow, but some industry sectors are experiencing a boom in recruitment, simply as there are more candidates out there seeking more secure roles.  Bizarrely, however, the worse the economic climate and the great the job insecurity the more challenging it can be to find the talent that you need.  Generally people who have a job and some continuous service, are less inclined to leave and thus your ability to attract candidates into your jobs reduces.  And yet at the same time, when you do advertise a position you are most likely inundated by applications, many from people whoa are really not suitable but who have not been given high quality career search advice and and are using a scatter gun approach to job search.

Most companies are simply tightening their belts, so whether you are looking for new recruits to fill existing positions or you are lucky enough to be hiring new recruits for brand new openings; a few tips are below to help you seek the best for your business within that squeezed HR budget:

Recruit Internally

You most probably have existing employees that are looking to advance their current role and transfer to enhance what they do already. Your existing employees are a valuable resource -they already know your company and how it works, and have proven what they are and are not capable of..

Using internal transfer benefits you because it's cheaper than hiring an agency and paying them their finders fee, and it's also great for moral as your employees see that you look internally before using outside recruitment.

Using internal recruitment allows you to pinch your budget, and with a good selection of existing employees you possibly already know or can see just how much motivation, energy, knowledge and skills (leadership, assertiveness etc) certain people possess.

Position yourself carefully externally

In order to create a manageable number of applicants be very specific about what you are looking for and ensure that your advert states that applications that do not meet the specification will not be considered. 

Think also about how you position your company, job and benefits to attract candidates who are currently in jobs.  Perhaps you offer them some additional financial security.

Summary

So when attracting new recruits, look first to your current team where you will most likely find a willing candidate and perhaps hidden talent.

Still advertise outside the business, but you may well wish to strictly narrow down the applicants before the interview stage in order to maximize time and effort.

Finally, interview some of your top performers and get a feel for what they are looking for. You have great chances here of getting to know a few of your employees a little more, with a view to transferring them to fill another role. Failing this, you will know what the employee is looking to do and how they intend to use the skills they have learned in their current role - you may well open another role in the future that they are perfectly placed for.