If you’re asking yourself if now is the time to hire or not, you’ve come to the right place. It may seem like there is no reason to take on new employees at this time. But, there are a lot of benefits to doing so.
Atrium’s Regional Managing Director, Melissa Monteiro, shares how investing in talent today yields even greater value for your workforce.
5 Reasons to Hire Now:
1. Talent to Hire is Available.
Unlike the candidate-driven environment we knew a few months ago, the active talent pool is greater than we’ve seen in the past 5-10 years, and the passive pool has become more active. As a result of layoffs, furloughs, compensation and cuts, reduced hours and many other “you name it” workforce challenges, more professionals with highly coveted skill sets are seeking opportunity for the first time in quite a while.
2. Talent to Hire is Accessible.
Since people are working from the privacy of their home, they are more willing to take calls to entertain new opportunities. A positive outcome of an otherwise gloomy situation is that we are more virtual-friendly than ever before. People are more readily available to meet for a virtual interview. Once employees return to their office settings, they are less likely to take time off work to schedule an interview. It may even be more difficult to request days off after working from home for 2+ months. Who knows what the “new normal” brings! Either way, returning to work will likely make scheduling in-person interviews a bit more challenging.
3. Hiring Now Yields Top Talent.
There is less competition! We are coming out of a market where applicants were getting multiple offers and companies had to compete aggressively for top talent (i.e. bidding wars, counteroffers, sexy packages, etc.). However, right now there are fewer available roles for job seekers, and companies have a much better chance to hire their first-choice!
4. Plan to Hire Future Talent.
This climate is temporary. We don’t know how long it will be here. But, we know it shall eventually pass. While we don’t know what the long-term effects may be on our economy or businesses, we do know that many companies chose to cut deeply to weather this storm. With all of the layoffs and furloughs that companies are undergoing, they will not be able to service their clients at pre-Covid19 levels without (re)hiring staff. When businesses recalibrate, there could be even more competition than in the past.
5. Source Now for Greater Capacity.
If you have internal Talent Acquisition teams or partner with external agencies to source candidates, they likely have more time available to find you the best talent. With fewer requisitions to fulfill, they can deliver greater volume and stronger applicants for you and your team.
In the current labor market, employers who are continuing to interview and post jobs, are not only seeing stronger applicants but also differentiating themselves as a remarkable brand during challenging times.