Saturday, December 20, 2008

How Companies Are Hiring With A Recession

By Cade Krueger

As we move further into this economic recession it becomes even more important to have your pulse of the finger of larger corporations when it comes to recruiting. It is important to understand their direction with hiring, layoffs, budgeting, benefits, marketing and other things they have done and what they are planning to do during 2009.

Watson Wyatt conducted a survey during the week of December 8th for a variety of companies across numerous industries to get a well-balanced idea of what changes companies have made and what they will continue to make for the next year. This is important to understand because this information will help to understand areas to focus on and what negative thoughts to avoid when sourcing candidates for large corporations.

If you are working with just one company for recruiting it is still important information for you to understand this information. The more knowledge you have, the more skilled you will be to make the right decisions and outperform your competition.

What is good to know is that majority of the hiring freeze and layoffs have already taken place and companies anticipate that it will be a lot less in 2009. 47% of the companies have entered some level of hiring freeze and 39% have performed layoffs. In the next 12 months only 18% are looking at some form of hiring freeze and 23% are looking to layoff more people.

That is a huge drop off from last year, especially for a hiring freeze. Companies are looking to hire, but they want to be more effective about it, which makes recruiting even more important.

Companies have to limit their employees so they need to hire employees that are going to have a huge impact with limited funds. Often they will hire people that other companies can't hire because of budgets.

Companies will cut employees, but they will be looking to hire as times get better. They will hire those same people back and you need to gather as much information as possible and nurture those candidates so you can be a part of the turn around.

One of the best ways to leverage your efforts with sourcing job candidates is to market with TalentSeekr from EnticeLabs. They do a great job of branding corporations and allow for you to find candidates that you can throw in your CRM. - 16651

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