Get More for Your Money When Recruiting in an Economic Downturn

It seems like not long ago the recruitment industry was faced with a shortage of talented candidates to fill available positions and now recruiters are faced with a completely different dilemma. In a healthy economy, hiring managers spend the majority of their time searching for the best talent out of a thin candidate pool. However, with such a large pool of highly qualified candidates now looking for a job during our recession, it can be nearly impossible to narrow down your candidate search. Below are a few tips on how to streamline and manage your recruitment process to find quality talent during an economic recession:

• Be choosy, numbers are on your side - It is important to match the right candidate to the right job. Don't settle for the first qualified candidate that walks through the door. It is important to broaden your selection to include criteria other than just experience and education. Look at other areas such as passion for your organization's industry, cultural fit within the company, and the presence of soft skills such as strong interpersonal communication, empathy and likeability.
• Utilize niche job boards - Applicants from niche job boards are typically more targeted and offer higher quality, especially for specialized positions, than those that can be found on general job boards. On large job sites, candidates may be tempted to apply for any job they see, even if they are not really qualified, creating too many applicants for you to evaluate which can complicate your hire and require more time and resources towards your hiring process.
• Leverage social networks – The growth and popularity of social networking has helped make recruiting possible with even the smallest budget. Take advantage of social networking sites, such as LinkedIn and Facebook, to create a “fan page” or “company profile” to enhance your corporate branding, interact with potential candidates and promote open positions. You should also encourage their current employees to promote the company on their personal social networking pages to provide increased exposure for the company to potential candidates.
• Always pre-screen potential candidates - In an economic downturn, it is important to not waste management’s time or a potential candidate’s time (let alone getting their hopes up!) Phone interviews and video resumes are an excellent way to determine if a candidate is worth interviewing and can also help reduce recruitment costs. Consider using an intern or administrative assistant to screen candidates using a list of scripted questions. HR should review any video resumes and conduct first round interviews to reduce the time commitment that management would spend interviewing unqualified candidates.
• Take advantage of free tools to reduce recruitment costs - Many job boards, such as Nexxt, offer free tools to help streamline the recruitment process. You can utilize an Applicant Tracking System to easily and efficiently track candidates, data and team collaboration from one central location. In addition, you can create a free Corporate Career Center which allows you to post jobs for free or upgrade to post across the entire Nexxt Network of thousands of sites, saving you money.

With an overabundance of qualified candidates currently searching for a job, all employers should ensure their recruitment tactics are aligned with the current economic times and consider these tips to help streamline the recruitment process to effectively find the right candidates for their business.