Copyright 2008 Talent Connections. All Rights Reserved. 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 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 m etrics Quality of Hire Cost Per Hire Time to Fill 1980’s to early 1990’s Dot-Bomb Era 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, PHR, 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 ext