The economy is in good shape even with rising prices due to inflation. Unemployment is low, and there are still more job listings than people to fill them.
None of this is news.
But, forecasters are talking about a looming recession and layoffs, and Elon Musk is leading that charge at his newly acquired social media network, Twitter.
How do leaders plan for an uncertain future?
Being nimble and flexible with your talent acquisition strategy can help your business weather uncertainties.
Consider Freelance Workers
For example, some employers are keeping their projects moving by thoughtfully utilizing the skills of freelance workers.
After the pandemic and through the Great Resignation, employees were rethinking work, especially work-life balance. Many decided that working exclusively for one employer was not giving them the flexibility they needed, nor the career advancement they wanted for themselves. This means that skilled professionals are now working on projects not as employees, but as contractors. You can often leverage their skills in less time than it takes to hire a new employee.
It also can help with the morale of your current employees. Freelancers can take the pressure off your teams by keeping workloads reasonable and helping them succeed.
Create a Culture of Flexibility
Flexibility with how and where your people get their work done needs to be part of your strategy. Take the time to review which positions can work remotely and create a policy that is flexible and fair. This allows you to recruit outside your geographic location and opens your company up to talent pools that you previously weren’t able to tap.
Formalizing a culture of flexibility can be helpful to your DEI efforts, too. Women left the workforce during the pandemic at a higher rate than men, and they haven’t regained their previous numbers. Talented candidates from marginalized populations sometimes feel safer working remotely. Reinforcing your company’s commitment to diversity is the right thing to do and it makes you more appealing as an employer across the board.
Provide Development Opportunities
Offer your people development and advancement opportunities. Employees appreciate the chance to update and sharpen their skills. The company benefits from an internal pipeline of skills that may be hard to fill by an outside hire.
Work with a Talent Acquisition Specialist
Hiring the right talent when you need it is really just the tip of the iceberg of talent acquisition. Creating and maintaining a comprehensive hiring strategy that flexes with the hiring landscape is key for every company. Developing relationships with possible candidates and keeping the talent pipeline alive and well can ensure that the company can move forward with the right people.
A talent acquisition specialist can be the help your hiring managers need to make sure your company is poised to succeed and thrive, no matter the economic environment.