PeopleKeys Blog

Why You Should Hire During an Economic Downturn

Written by Monica Reynoso | Aug 2, 2022 4:33:54 PM

The shift to remote work left many employers concerned about potential drops in productivity and weakened team dynamics. However, many employees have thrived in this new environment, while others have decided to explore new career paths. This surge in job seekers has presented CEOs, managers, and supervisors with the opportunity to bring in fresh talent. Despite budget constraints and a volatile market that often leads to hiring freezes, many companies are still in critical need of high-quality talent.

Here are three reasons why hiring managers should hire now regardless of market uncertainties:

Job Seekers Have Better Time Management

According to BCG, a survey of 12,000 employees reported that “some 75% of employees said that during the first few months of the pandemic, they have been able to maintain or improve their perceived productivity on individual tasks.” While working from home, employees have formed a daily routine to complete their tasks. They have a firm grasp of prioritizing, and now have a steady workflow. These newly finessed time management skills have allowed many people to create a dynamic work environment. 

During the hiring process, ask you candidate questions about how they manage their time, how long it will take for them to complete a project, and what challenges they faced remotely and how they overcame them.

Employees Have Enhanced Their Skill Sets

Many employees have had time to reflect on what they want out of their career space. As a result, many people have adopted new ways fulfill their financial needs and meet career goals. People not only have discovered new passions or hobbies, but they have also acquired new skills. Regardless of time zone, online classes and Zoom conferences have enabled people to gain knowledge.

HR and hiring managers should interview on courses taken, skills learned, and conferences attended during candidates' time at home.

People are Ready to Work

People on the job hunt are exploring career options that are rewarding and compensate fairly. As a talent manager, using a DISC assessment, along with additional behavioral assessments such as TEAMS thinking styles, Values styles, and Behavioral Attitudes, paired with occupational benchmarks, will give you the best hiring tools to successfully employ the right team members based on their individual strengths. 

Use the DISC profile of candidates to ask questions about team or individual work preferences, how they handle workplace conflict, and other exploratory questions.

Set Your Company Up for Growth

Hiring while the market is unstable will give you the time you need to onboard your new employees. Ensuring their success now will help position your company for growth when the market shifts and business is booming again. 

PeopleKeys aims to help managers hire smarter and build successful teams. We offer hiring tools and resources, including DISC certification, to aid in your search for the perfect candidate for the right position. Each DISC profile brings a unique quality to each team. Don't wait, contact us to learn how to implement predictive hiring in your organization today for growth tomorrow.