By Jeff Herzog, President, FPC National
“Opportunities are like sunrises. If you wait too long, you miss them.” ~ William Arthur Ward
With so much turbulence in the economy, some companies are putting recruiting on the back burner, taking a wait-and-see approach to strengthening their teams as they emerge from this crisis. On the surface, cautiousness may seem prudent in these uncertain times; but in reality, hesitation will lead to missed opportunities.
In just a matter of months, the labor market has been completely transformed. Talented professionals who seemed untouchable at the beginning of the year are now entertaining offers. While some have been furloughed, others do not feel secure in their current positions.
At a time where most senior executives list skill shortages as one of their greatest challenges, the pandemic has created an unexpected pathway for companies to fill in the gaps that have been holding them back from achieving their growth objectives.
The time is ripe for forward-thinking companies to acquire the cream of the crop. But this will not last long. When uncertainty begins to wane, more and more companies will be ready to bolster their workforces and extend offers, creating a massive increase in competition.
Seize the Opportunity
As the owner or senior executive in your company, it’s important to take a long-term view. Are you planning to be in business one year or three years from now? Unless you are on the brink of closing your doors permanently in the next few months, you must look beyond the immediate horizon.
Bold organizations are taking advantage of this opportunity and ramping up their recruiting efforts. And with a stronger, more talented workforce, they will emerge from this crisis stronger than ever, poised for exponential growth, and ready to secure a significant competitive advantage in their industries. Hesitant companies that are operating out of fear will miss this rare chance to augment their team with superstars.
If you wait until all uncertainty has disappeared, the labor market will be right back to where it was at the beginning of the year. Now is the time to plan for the future of your company. As author Harvey Mackay said, “Dig your well before you’re thirsty.”
While budgets may be tight, consider this a strategic investment in your business. And like all strategic investments, there is some risk at the beginning, but wise decisions are worthwhile in the long run.
Make a Wish List
Begin by performing a comprehensive assessment of your current workforce. Where are the gaps? Where are you strong? Create a recruiting plan that prioritizes the areas that you need most.
Think about the top performers you tried to recruit in the past, but lost to competitors. Now is the time to re-open channels of communication with the ones who got away. Even if they are currently employed, they may be open to a new opportunity in this turbulent climate.
Enlist your executive team to make wish lists for their departments. Who would their dream team be? Are there superstars working for competing companies? Making a list of target candidates is a good start to creating an effective talent acquisition strategy.
Partner with Your Recruiter
Our talented FPC recruiters across the country are partnering with companies to take advantage of current opportunities in the market. We help businesses formulate and execute talent acquisition plans to position them for success. FPC recruiters are experts in identifying top talent, opening lines of communication, negotiating offers, and acquiring professionals who are perfect matches for companies.
To find out more about how FPC can strengthen your workforce with top talent and position you for growth during and after this crisis, contact your local office and arrange a consultation today.