The Change Is Already Here
The power is shifting to employees, creating the conditions for potentially more people to jump ship. Allow me to explain.
You may have noticed that the hiring cycle is shifting as our economy improves. At its peak the market favors those who have the supply, the job seekers, at the other extreme, during recession, the advantage goes to what employers want.
Recruiting Across The Extremes Of Economic Ebb And Flow
At the low end
When the economic cycle is at a low point, as it was in 2008, the terms on offer reflect the desires of hiring companies: Even the top player candidates feel intense pressure to accommodate employer demands and to ignore workplace discord. Although this seems like a win for companies it sets up future unrest and turnover as employment conditions improve.
Moving toward the midpoint
As recovery builds momentum the best employees begin looking for more, for a better culture fit. Pay is not the highest priority for them generally. They are attracted by less tangible factors that complicate the equation. Even if your company survives the worst of a recession you can be hit with retention problems at a time you least expect.
Economy in full swing
At the peak of the economic cycle top players may not be taking hostages exactly but they are concerned still about their work environment and culture changes as their employers scramble to fill vacancies. The need to hire for production capacity can lead to a drop in standards that puts perverse pressures on company culture, giving rise to restlessness and higher turnover.
Those Great Recession Hires Are Getting Restless
As I write this, the trend is shifting past the mid-point, back to pre-2008 employment conditions. The balance of power in the hiring market is once again in favor of candidates.
That means that it’s up to hiring managers and recruiters to shift into a more creative approach to the hiring process. Your search company should be preparing you for the hiring process.
Without good people you are not going to succeed and good people have choices now. You have to work harder to get the best and attract them and it will pay you dividends to employ a search and recruitment service to create and execute an effective hiring strategy.
By employing a professional recruiting service your company leverages a well-established knowledge base of recruiting staff. Choose a service that will work closely to find the right candidates for your company culture and train your managers to sell the job and then retain the new hire longer, as happy and well-adjusted employees who contribute to your company’s continued success.
Professional Level Employees Are Always Empowered
Career level is a big factor in this too. The higher the position in the company the more extreme the swings in the balance of power are going to be. When you hire qualified and experienced people to manage and lead your company, they are going to feel empowered as professionals even at the worst of times.
So, keep it in mind as a business owner or manager that you have to make the effort to engage with them on the level that they expect and deserve. When you have the right recruiters and search services helping you out, they can do more than just find qualified employees for you at the right time.
Professional recruiting services can help you match the personalities and styles of new hires to the culture that you’ve spent so much time building for your company. They can also help you get those new employees onboard after you’ve spent so much time courting them. They can assist in building the best strategies to increase your company’s retention rate, at any point in the economic cycle.