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How to handle recruiting during times of economic transition

During times of economic transitions companies often face unique challenges when it comes to hiring top talent. Using a recruiting firm can be the right investment for many companies whose hiring initiatives remain critical despite the economy. Here are a few questions to ask yourself to decide how you should handle recruiting during these uncertain times:

Do you need access to a large talent pool of top talent?

Recruiting firms have access to a network of candidates, not just including active job seekers but also passive job seekers who may not be actively looking for a new position but may be open to the right opportunity. Having an expanded talent pool increases your chances of finding top talent, no matter the state of the job market.

Are you experiencing the costs associated with high turnover or not having the right positions filled?

Have you calculated the cost of employee turnover at your company? Separation and vacancy costs can add up quickly especially when you consider the loss of productivity of co-workers and managers and increased workload for employees. There is a high rate of return on your investment in a recruiting firm when you add up these mounting costs into account. 

Does your team need to increase its talent acquisition bandwidth?

Who is responsible for the talent acquisition work at your company? Is it a dedicated department or individual or is it a component of an HR generalists’ job? Is your team stretched thin with too many responsibilities?  Consider what a dedicated expert in talent acquisition could do for your hiring goals and how they could help boost your company’s efficiencies and effectiveness in hiring top talent.

Are you spending too much time and money on sourcing, attracting, and identifying top candidates?

In a transitional economy, oftentimes roles and responsibilities must be realigned and/or reassigned, decreasing the amount of time available for talent acquisition. When you work with a recruiting firm like M3 Placement and Partnership, you have a dedicated expert recruiter in your corner who can take the load off you and help you to meet your hiring deadlines faster and more effectively.

Do you need someone to analyze and streamline your hiring procedures and processes?

Here at M3 Placement and Partnership we don’t simply fill open roles, we advise you on best practices, how to set up your recruiting department for maximum efficiency, and top trends in hiring and recruiting. We look at every relationship as a partnership, providing advice and guidance on all things hiring and recruiting at your company.

Are your hiring needs constantly changing?

The best part about working with a recruiting agency like M3 Placement and Partnership is that we customize a plan according to your needs. For companies with fluctuating hiring needs, bringing on a full-time talent acquisition professional may not be the right direction but using a recruitment firm will provide you with on demand help when you need it.

If you’re looking to explore what a partnership with a recruitment firm would look like for executive recruiting or for RPO or outsourced recruitment initiatives, contact us today at