Create High-Quality Demand for Your Company’s Positions
August 30th, 2010 by Louis P. Kadetsky, CPC
For corporate recruiters, the past two years have seemed like a problem of open reqs: specifically, there haven’t been many. The recession has dealt a blow to the profession and the businesses served, and the median duration of unemployment, according to Harvard Business Review, is six months (and counting), double what it’s been at any point in the last five decades. The problem, therefore, seems pretty obvious.
Or, is it?
Maybe it isn’t just a protracted period of unemployment and jobless recovery at work – maybe we’re also seeing a lower quality of demand.
Employers could be investing more in their talent, rather than taking advantage of an unfavorable employment market to secure employees at lower rates and save a few dollars. While this thinking may be attractive now, it can have disastrous consequences down the road.
As the folks over at HBR put it:
Low quality demand, then, means that we buy cheap, but the price is invisibly steep: it ignites a global race to the bottom, what a complexity economist might call a dynamic equilibrium of negative consumption externalities, consumption that results not just in joblessness but a loss in the quality of jobs. The quality of a job is sparked by higher quality demand; or, valuing more than just the dollar price of a thing, but also its human and social impact.
So, the key is to find ways to boost the quality of open reqs, which is crucial to securing better talent … and ultimately higher performance and corporate recruiting ROI. This can be difficult to influence of course, as compensation and other budgetary factors tend to be set from above. Yet, if you can bring sufficient support when you make your case, including information about the long-term implications of short-term recruiting and talent management thinking, you can deliver greater value through every hiring decision.
Work with KGTiger’s TMR service to conduct the talent market research you will need to drive effective decision-making in the executive suite, and you’ll be able to create higher-quality demand … which will translate to better candidates and tangible corporate recruiting ROI.
Information is crucial to using today’s talent market conditions to secure a long-term advantage. Think past the current economic climate, and you’ll gain a sustainable competitive advantage.
via Harvard Business Review