Unfortunately during Covid-19, the American public has experienced the grief of not only losing their normal lives, over 20% of our workforce have lost their jobs, downgraded to part-time positions, or accepted positions lower than their qualifications and experience just to bring money into the house. This statistic is from the Bureau of Labor Statistics at the end of May 2020 – https://www.bls.gov/news.release/empsit.t15.htm (U-6).
Many companies had to shed workers as business was forced to shut down. Other companies were vendors to Boeing whose contracts were ended at least temporarily because they had to stop airplane manufacturing.
We are experiencing the negative side of Trickle Down Economics.
What Is Your Strategy For Talent Attraction?
Unless your executives plan to close the business, are you creating a strategy to attract Top Talent when the pandemic ends?
The Talent Attraction process is also known as recruiting and talent acquisition. I have been a professional recruiter since 1981. In my experience in almost 40 years, most companies do not understand that the recruiting process has always mirrored the sales process. What demonstrates that fact? The third-party recruiting business model, i.e. headhunting, would not exist if their clients understood recruiting is sales and marketing.
Recessions are triggered by different events, some created by poor decision making, others by natural events, and some by a combination of both. Since World War ll, our country has a history of going into a recession every 8 to 10 years. Some recessions are worse than others, depending upon the trigger. My feeling is this recession was triggered by poor decisions made by a huge company and compounded by the worldwide pandemic.
When the US economy begins to recover, does your company have plans to recover also?
What 3 Actions Should My Company Begin Now?
- Identify which employees your company had to layoff are critical to attract back. These are people who took important company experience, knowledge and history with them.
- Identify which employees your company had to layoff belong to the bottom 10% of performers.
- Keep in touch with laid-off employees that you want to attract back to your firm.
These actions are important to the growth of your company post-pandemic.
My business for the past 25 years pivots between Talent Attraction while companies are hiring and Career Transition Coaching when they are conducting a reduction in force. I am the published author of 2 books on Finding A Job.
Currently, I am coaching 15 professionals in their search for a new position. Since March 15, eleven other professionals I coached have accepted new offers. Firms are hiring your company’s former employees; and the majority of them received raises over your last compensation.
How Do We Attract The Best Employees Back?
Assuming your company knows who are your best employees that were caught in the layoff, your firm may want to consider contacting them. Inform them of your company’s plans to slowly begin to reinstate them in the coming months, if all goes as planned. Promise they may keep their severance and offer to change their reduction in force to a furlough where your company pays their benefits and keeps their seniority.
This action takes the pressure off of their search for a new job. People who enjoyed working with you will happily suspend the search efforts because you demonstrated their importance to the viability of the organization.
This fact cannot be emphasized enough – Top Talent does not wait around if their former company is not loyal to them. Your competitors who plan to be in business post-recession are using this opportunity to attract the best new employees. Some of your former employees will help propel their new company forward.
Is this the result your firm accepts?
What About Attracting New Staff?
As your company emerges from the recession, it is important to target the most important positions to recruit initially. What experience and skills are required for these new or replacement positions? Create new position descriptions that focus on the new position post-pandemic. What skills or experience would have been nice to have in that position previously? Add the 3 month, 6 month, 9 month, and 12 month goals for each position. Search for that talent. Candidates – and all employees – deserve to know their expectations for the coming year.
What is your strategy to attract the best talent? Post the positions online and pray the top talent is looking at your posting? It is not a sustainable practice if your firm is seeking the best talent. My suggestion is to identify Top Talent in conversations with managers (isn’t building a pool of potential resources part of their expectations for the coming year?). Discuss who they met that your recruiters should call and network to the best candidate. Yes, networking works for recruiting AND the job search.
Practice these suggested actions to propel your company – And your career – forward.
My Talent Attraction business model is my differentiator. I focus on one client at a time and charge a flat monthly fee. This model enables me to attract new talent to your organization while identifying and suggesting improvements to your company’s Talent Attraction process.
Learn how I coach my Career Transition Clients in my most recent book – Employee 5.0: Secrets Of A Successful Job Search In The New World Order http://amzn.to/2D9w39f
I help organizations Recruit, Onboard, Actuate, and Retain Top Talent.
See you on Tuesdays!
Bill Humbert is available for Speaking, Talent Attraction Consulting, and Training contracts.
©1999-2020 B. Humbert – Provocative Thinking Consulting, Inc. –
USA 01-435-714-4425 Bill@RecruiterGuy.com
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