Will Your Business Be Ready When the Economy Bounces Back? Three Ways to Leverage Your Hiring Process Now

We’re facing a historic recession. Even though some businesses are reopening their doors in the COVID environment, it feels like a different world than it was just a few months ago.

Even so, the setback won’t last forever.

As the world adjusts to the new business as usual, the economy will ramp back up. Will you be ready —and will you have the workforce you need?

Here are three ways to consider leveraging your business’s hiring process now, so that you’ll be ready to produce when the economy bounces back.

Related: 10 Video Interview Tips for Employers in the Covid-19 Environment

1. Hire Temps

A rebounding economy creates the ideal environment to rely on temps in your workforce. You may not be ready for a full commitment to hire permanently, but you still need the help.

By having a scaleable workforce through a staffing agency, you can get the workers you need on a probationary period with the option to make them permanent. Workers know upfront that there is an opportunity to be hired on permanently, but that’s not a guarantee. Since many people are looking for work right now, they may be happy to have a job, even if it’s temporary.

Having temps is also useful if you have any special projects you want to focus on during periods of low production, such as redoing production areas, assessing inventory or adding an expansion. 

If you need to scale down your business at any point, you can lay off temps and the staffing company will either reassign them or their unemployment will cover the workers. And you still retain the option to convert them to permanent workers, often without a fee, if your business stays strong.

2. Pick Up Available Talent

Amidst the struggling economy, there is talent available now that hasn’t been available for years. These individuals will be in high demand when more companies start hiring. But since they’re looking for jobs now, now is the time to recruit them.

Even if you’re not ready to offer a position, you can still begin the hiring process and express your intentions to bring them on. If you find a candidate who is a good fit, consider presenting them with a conditional offer. Then, when you hit a certain benchmark in your business, you can start them immediately ahead of your competitors.

In some cases, a candidate could also be put on a temporary assignment while they wait to be brought on by your company. That way they can remain employed during the interim (more on this below).

3. Give Your Laid-Off Workers Other Options

Many businesses have had to make the difficult decision to lay off quality workers due to economic slowdown. While they can hope that it’s only temporary, not all employees are going to sit around and wait to be rehired, especially if their unemployment benefits run out.

This is another scenario where a staffing agency can be helpful. Partnering with a staffing company, workers may be able to get temporary assignments while they wait to return to your business. This can make a big difference in employee retention during economic uncertainty.

And, as mentioned above, the same process can apply to a job candidate you present a conditional offer to.

Ready to Get More Strategic About Your Hiring?

Our recruiting professionals have over 80 years of combined experience in many economic climates. Contact us to discuss your hiring needs.