What Happens if the Turnaround Isn’t Real?
August 23rd, 2010 by Louis P. Kadetsky, CPC
After a severe financial crisis and signs that the economy has turned the corner, we’re all eager for a recovery, however cautious, to get under way. But, what happens if that isn’t the case? There are signs that some risks could flare up again, which would require a fast change from any plans you currently have in the works. Since traditional corporate recruiting tends to have a fairly long lead time, this could leave you in a tough position.
I ran into a story on FINSwire that claims some investment banks may be instituting pay cuts and layoffs in the coming months, with up to 20 percent of them being cut. This is not a trivial amount. And as we all know, action in the financial services industry has a way of affecting everyone else.
Will this actually happen? Well, it’s obviously too soon to tell … but that doesn’t mean you can’t take steps to protect your company and your workforce now.
The most effective approach is to have a flexible sourcing and recruiting model that can help you adapt quickly to changing market conditions. KGTiger’s STREAM service can develop and cultivate talent pools for you, managing a rich community of potential candidates until you are certain that you’re ready to begin the hiring process. Instead of having to commit large amounts of internal resources, you’ll be able to move quickly – whether to begin the hiring process or suspend plans you made under different assumptions.
The direction of the economy continues to be uncertain. But, you can act with certainty even in the face of uncertainty. Rather than commit to an approach and find yourself locked into it, the flexibility afforded by our STREAM service can protect your organization and your recruiting strategy, regardless of what the outside world throws at you.