Copyright 2008 Talent Connections. All Rights Reserved. Best of Times, Worst of Times: Recruiting in...

Copyright 2008 Talent Connections. All Rights Reserved.

Best of Times, Worst of Times: Recruiting in a Down Economy

Presented by Tom DarrowFounder and Principal, Talent Connections, LLC#86 on the 2007 Inc. 5002006-2007 President, SHRM-AtlantaMember, SHRM Staffing Management Expert Panel

May 20, 2008



Agenda

• Implications Outside the Company

• Implications Inside the Company

• Implications for Yourself


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


Down Economy?

• Mortgage lending• Home values• Gas Prices• Inflation• Stock market• Hiring

– 20,000 jobs cut in April, the 4th consecutive down month (U.S. Bureau of Labor Statistics)


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



• 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



• 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



• Alliance Connections– Alumni (Boomerangs)– Campus– Service providers– Peers

• Competitive profiling

• Beware of vendor reliability

• Don’t ever use “hiring freeze”


Implications Inside the Company

• Recruiting Infrastructure– Sizing– Expertise– Alignment with the business– Utilize contract resources and others



• Alternatives to cutting HR/recruiting staff– Tour of duty in another department– Developmental assignment– Overseas assignment– Contract work outside the company– Get creative!!



• 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



• Process Efficiencies– Metrics– Technology– Separation of duties– Sourcing channel analysis


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


Implications for Yourself

• Continue to work hard

• Enhance your recruiting expertise– Conferences– Training (AIRS, DDI, etc.)– Certification (SPHR, PHR, etc.)– Books– Articles– Webinars– Peers



• Learn other skills– Leadership– Sales– Negotiation– Time Management– Accounting/Finance– Technology

• Deepen relationships with your supervisor



• Assume a leadership role in the profession– SHRM

• Staffing Management

– Local SHRM Chapters– Other Recruiting/Staffing organizations



• Enhance your personal brand– Write an article– Speak– Conduct a webinar– Write a book– Professional Image



• 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


Questionsand

Answers


Good luck and Thank You!

Tom DarrowFounder and Principal

Talent Connections, LLC175 Inverness Approach

Roswell, GA 30075770-552-1550 ext. 111

[email protected]

Copyright 2008 Talent Connections. All Rights Reserved. Best of Times, Worst of Times: Recruiting in...

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