Managing Partner Larry Rubin quoted in Monster article on attracting candidates amid recession fears.
How to attract candidates amid recession fears
Between it being an election year, various global events from Corona Virus to tensions in Iran, and the long streak of economic prosperity that many feel has to end at some point, people fear that a recession is right around the corner.
That was a big reveal in Monster’s latest State of the Candidate survey with 3 in 5 (60%) saying they are worried about the current state of the economy and more than 1 in 3 (35%) worried that their jobs would be at stake if the U.S. were to experience a recession. Compared to last year’s survey where just 16% of respondents identified recession as the biggest threat to their job, the fear has grown.
Among the generations, Millennials (65%) were more likely than Gen X and Baby Boomers (both at 55%) to be worried.
The challenge for recruiters is how do you convince passive job seekers to make a move when recession fears loom? Despite the survey’s findings that today’s workers aren’t entirely happy (they don’t think they’re paid enough, for starters), 58% said they aren’t planning on looking for a new job this year. Recession fears – and the worry that being last in may mean they’re first out – could be a big reason why.
The solution: Position your company and the job itself as a place where the candidate can grow, no matter what happens. We turned to the experts for tips on how to do just that.
Another strategy is to share information about the company with interested candidates, says Larry Rubin, managing partner at Talent Partners, an executive search firm and member of the Sanford Rose Associates network. “There are lot of resources that candidates can utilize to research your company, but don’t assume they will see the ones you want them to,” he says. “Send them an email with the proper links that might point to articles on your growth, your financial health and even favorable reviews that may give them a well-rounded understanding that your company is stable, growing, and well-funded,” he suggests.
Read the full article here.