Between the aftershocks of the pandemic, inflation, and supply-chain issues, it’s becoming increasingly clear to experts and common Americans alike that a recession is coming.
Giacomo Santangelo from Monster says that business owners will need to find ways to cut costs and be more efficient to survive this upcoming recession- and hiring is no exception.
The most common way that businesses ride out a recession is by laying off workers or stopping the hiring process altogether. But in a world where talent is already scarce, and job seekers are more selective than ever when it comes to choosing a job, is it really a good idea to lay off workers or halt the hiring process?
Using our own expertise and 67+ years of experience along with insights from Monster and Enrollme, we’ve compiled an extensive list on what you can do during a recession instead of slashing your recruitment budget or conducting mass layoffs.
Prioritize positions
When looking at your entire workforce amidst preparations for a potential recession, it’s important to be purposeful about prioritizing your open roles. Enrollme advises employers to ask the following questions before diving into the hiring process: what positions impact your company’s revenue the most? Which vacancies do you need to fill as soon as possible?