Doom & gloom is the impending economic forecast according to the media. Having flourished through two previous recessions, I have learned to look for the opportunity that comes with the adjustment. 

And when it comes to hiring, the opportunities to thrive are bountiful!

One trend that I have personally observed throughout the years is that companies like Google & Facebook silently ramped up passive recruiting during those times and were able to come out of the adjustment even stronger.

Today I challenge you to recognize the opportunity that lies ahead and to commit to the growth of your people. This can and will only have positive results for them and the business. 

Today’s Question:

  • How do you build a stronger company in tough economic times?

Today we’re going to discuss:

  • Why it is critical that you continue hiring activity
  • How to hire effectively to increase the productivity & retention of your people

Challenge today?

  • Keeping your High performers engaged

    • Your best people are MORE valuable!

      • They will be hunted by your competitors 
    • Hiring stronger people challenges & motivates the people you already have
  • Growth through an economic downturn
    • Look for the opportunity for your people

      • People become fearful and move to more “stable” environments
      • Recruiting remains a reactive activity
        • We only hire when we feel the pain 
    • Hiring happens regardless if you chose to participate
      • Participate 

Why is this important to the company?

  • Downturns are opportunities for growth!
  • The people onboard Fuel or Stifle growth
    • Fear drives people to make poor decisions
    • Poor decisions kill business
  • Avoid being forced to hire anyone who is willing to accept your role… because they need a job
    • Due to attrition

How do we solve the problem

  • Perspective
    • Understand the value of continuously hiring
      • Higher bar, less volume
    • Opportunity to opportunistically hire 
    • Attract people who will elevate performance in the organization  
      • New ideas, new energy
  • Increased Communication to retain your current people
    • Career pathing
    • Know the “What’s in it for me” for every one of your people
    • Planned exits
    • Promote purpose
  • Engaging New People
    • Dedicate 1-2 hours a week

      • Passive talent engagement; NOT RECRUITING
    • Reconnect with past talent
    • Ask for new referrals
    • “Get to know you for the future”
    • Commit to 2 meetings a week with potential hires - Coffee ok
      • Use Discovery Call script
      • Purpose: positioning & value alignment
    • Empower the hire
      • Communicate timeframe and allow the person to be proactive
    • Pull the trigger!

Key Takeaways -Value:

  • Proactive hiring: Commit to 1 hour a week to expand your talent network
  • Communication: Recognize the opportunity for your people and the business to thrive
  • Action: When the opportunity arises to hire a high performer, embrace it. Allow the new person to fuel the energy of your team 

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