According to the KPMG 2022 India CEO Outlook, 66% of the CEOs in India believe there will be a recession in the upcoming years. And 33% have implemented a hiring freeze.
What is a hiring freeze?
A hiring freeze is when a company decides to stop hiring temporarily. There could be different reasons for the hiring freeze. Sometimes, it is the economic downturn and recession. Companies, thus, to preserve their finances, lay off the additional workforce and stop hiring for new positions.
6 Smart Things Recruiters Can do
Respond wisely to hiring freezes. Consider doing the following when you are not looking for new candidates.
1. Maintain your candidate pipeline
You don’t have to look for new candidates during a hiring freeze. However, it is wise to maintain the existing candidate pipeline. It will strengthen your relationship with the candidates. And you have to put little effort into filling vacancies when hiring resumes.
2. Reach out to newer clients
When companies lay off and stop hiring during a recession, there would still be companies looking to attract some top contenders. Hence, recruitment agencies must constantly look to acquire new clients during a hiring freeze.
3. Keep invested in employer branding
Most recruiters give up their employer branding activities during hiring freezes. It can seriously impact how candidates and clients perceive you as a recruiter.
Continue to invest time, effort, and money in promoting your employer branding. You can use the time off from recruiting to brainstorm and come up with new ideas and exciting employer branding initiatives.
4. Upgrade to a better recruitment software
Implementing an applicant tracking system is a complex process. You must carefully decide which ATS has all the features you want and pick one that looks promising. Later, migrating data and getting familiar with the functionalities could take some time.
It is the best time to consider upgrading the existing recruitment software with a cutting-edge alternative. Accepted by over 3800 companies, PyjamaHR ATS could be one such software to consider.
5. Revisit your content strategy, both candidate-centered and client-centered
Use the time of hiring freeze to tap into your creative side. Avoid using predefined job description templates and copying ideas for social media posts. Draft out-of-the-box ideas for job ads and social media, and write fresh ideas to make job descriptions appealing.
6. Brainstorm on innovative hiring strategy to implement when hiring resumes
Most recruiters struggle to find suitable candidates with the hiring tactics everybody is using. New ideas can help you stand out from the crowd and hire faster.
Use time off from recruiting to think creatively and come up with innovative ideas to implement when companies start hiring again.
Consider hiring freezes as opportunities to revisit how you find candidates and clients. Follow the above tips to fill gaps in your marketing and recruitment processes. Focus on creating the best strategies to implement when hiring resumes.