Tap the Brakes - Don't Slam Them

The last couple of weeks have brought enormous changes for everyone. From how we communicate, work, travel, and socialize, many things are uncertain right now.

Along with these changes, there has been much discussion in various media about the economy and how it impacts the job market. It is understandable for any industry to question what is going on and wonder how this will affect individuals, jobs, and businesses. A quick online search pulls up hundreds of recent articles on what companies and individuals can do to prepare for uncertain times.

I’m not writing to give my thoughts on what to do but really to advise both job seekers and companies to keep moving forward.

With entire countries closing down, it is understandable that plans might be scaled back or delayed. But that doesn’t mean to put a hard stop on interviewing and hiring.

Candidates:

If you have been considering potential opportunities, those reasons to look will still be there when all of this calms down. Waiting to explore your options, learn about other companies, and continue in the interview process will put you in the same boat as everyone else when things pick up. Now is the perfect time to make sure your resume is polished and you have great examples of your work to share in interviews and with your network when needed.

As an executive recruiter, I consult with people in difficult times.  What can sometimes seem like a terrible situation can turn into a perfectly timed opportunity, so you want to be ready. Some of the best opportunities came about at the end of the last financial crisis.

If you are working with a recruiter, talk to him or her about your game plan, your goals, and the experience you bring to the table for your next opportunity. We have seen it all, in good times and bad, and can help you in preparing for the next role as well as understanding the market and your competition. That next opportunity might come to you sooner than you think, yet it rarely happens when you stop.

Hiring Managers:

For most companies, there are critical positions that have to be filled with talented people. There could be delays in the interview process, but great companies don’t want to stop entirely.

I would always encourage companies to stay engaged with candidates even if the hire might take longer than expected. I’m sure you’ve heard of companies announcing a “hiring freeze.” That is a stop sign, a huge red flag for attracting future top talent.

I always recommend that a company continue hiring when possible, continue interviewing and engaging with people to show why your company is a great place to work. 

Companies are doing more video interviews and phone calls during this time of social distancing. But social distancing doesn’t mean stop communicating – it means communicating differently. The companies that understand and take advantage of this now will reap the benefits as the economy improves. Those companies that slam the brakes and park will be seen in a negative light when we continue in a candidate-driven market. When top talent has choices they will remember how companies worked through this tough time and how they treated their employees.

During uncertain times, it is normal for companies to assess their business and evaluate their talent needs. Unfortunately, there can be layoffs. How a company handles layoffs can influence how the company is perceived in the market and by future prospective employees. We partner with companies to offer outplacement services for their transitioning employees.

Recruiters are a great sounding board for companies to get ideas on how to retain good people and prepare for future talent during uncertain times.

Regardless of whether you are a hiring manager, talent acquisition manager, or potential candidate, this is a time to tap the brakes, assess the situation, maybe recalculate. You may decide to proceed with caution, but don’t stop. Let’s connect, communicate, engage, learn, and keep moving forward.