Transcript Document

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. 500
2006-2007 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?
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Mortgage lending
Home values
Gas Prices
Inflation
Stock market
Hiring
– 20,000 jobs cut in April, the 4th 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
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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
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Sizing
Expertise
Alignment with the business
Utilize contract resources and others
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Implications Inside the Company
• Alternatives to cutting HR/recruiting staff
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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
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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
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Metrics
Technology
Separation of duties
Sourcing channel analysis
Copyright 2008 Talent Connections. All Rights Reserved.
Changes in key recruiting metrics
Quality of
Hire
Cost Per
Hire
Time to Fill
1980’s to
early 1990’s
2
1
3
Dot-Bomb
Era
2
3
1
2001-2003
2
1
3
2003-2007
2
3
1
Today
1
1
1
Copyright 2008 Talent Connections. All Rights Reserved.
Implications for Yourself
• Continue to work hard
• Enhance your recruiting expertise
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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
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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
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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 30075
770-552-1550 ext. 111
[email protected]
www.talentconnections.net
Copyright 2008 Talent Connections. All Rights Reserved.