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How you can create value from your talent acquisition teams during economic uncertainty

November 9, 2022

Its 2020. A global pandemic has taken over, and companies are panicking at the thought of having to adjust. Hiring freezes and layoffs are frequent across all industries and departments, but especially in HR.泭

Fast forward to 2021, and as COVID-19 settles, an economic explosion takes place. A record-breaking amount of money from private markets is invested into the economy . Open positions are abundant on LinkedIn as scaling companies struggle to fill roles they cut in 2020. The amount of job postings for HR (specifically recruiters) surpasses pre-pandemic levels, with a shocking .泭

Finally, we arrive in 2022. This year, companies are beginning to realize they might have been a bit too ambitious, and they just arent able to perform to the expectations of shareholders. History repeats itself as again, were seeing mass layoffs with recruiting and HR teams often being the most affected. It seems like a repeat of two years ago and I 釵硃紳t help but ask myself, Havent we learned from the past?.

The extreme volatility that were seeing in the HR industry can be avoided. Economic uncertainty shouldnt lead to a complete uprooting of your HR department, and namely, your talent acquisition (TA) teams. Its a matter of rearranging, restructuring, and reprioritizing the people and resources available.泭

So, lets talk about it: how we can learn from past mistakes and create value from our TA teams during periods of economic uncertainty.泭

What can your TA team do?

If your company is at a stage where youre conducting a hiring freeze and are even considering layoffs, your TA team is probably one of the most vulnerable. The logic that most companies have is that TA roles arent necessary when there arent any roles to hire for but instead of thinking about the work they 釵硃紳t do, try asking yourself: what does the company need, where do we lack resources, and what work is available? There are several options you can examine before resorting to cutting back the team.泭

Build out your own HR team structure

The first alternative is to take a good look at your HR department and company as a whole, and consider what strategic projects need focus. When recruiting and TA slow down, look at it as a chance to focus on other parts of HR that can sometimes be neglected.泭

Ill use 91做厙 as an example; we have a People and Talent department in lieu of a traditional HR department and its organized into four disciplines: talent acquisition, employee experience, people operations, and information technology.

If your companys HR department isnt as robust as ours, thats alright but this is the perfect opportunity to build out those other functional areas. Think about the needs of your company as well as the people on your TA teams to find a good fit.泭

For example, if your company is lacking in equity, diversity, and inclusion (EDI) initiatives, members of your TA team can move into an employee experience role to focus on creating an EDI framework, or EDI roadmap. If your performance management processes are outdated, you could leverage the TA team to initiate a deep-dive into whats not working, and what they can fix.泭

Internal lateral movement

Another alternative for your TA team is internal lateral movement. Many people think movement in a company means a promotion. But lateral movement doesnt include a level change rather, it focuses on an employee gaining new skills and experiences in a role that has around the same pay and amount of responsibility as their last one. It usually includes moving to another department and working with different people in the company.

An example of internal lateral movement could be someone from the TA team in the HR department moving into a customer support role. This can be a good fit as there are certain transferable skills (e.g. effective communication, problem solving, empathy) between HR and customer support that will allow members of your TA team to succeed. Or, you might move someone from TA to sales; your recruiters know how to sell the company to talent in interviews, so with a little bit of training, they can learn to sell your product or services to clients.泭

Development

Lastly, think about investing in your TA teams learning and development. People are eager to learn and this could be the perfect time for your team to self-assess, recognize gaps in their skills, and design a plan to improve. When the hiring freeze ends, youll have a team thats recharged and ready to kick things back into high gear.泭

Other ways you can reprioritize

When I think of how I would refocus my TA team during a hiring freeze, I turn to my to-do list; the list of things Id like to tackle thats overlooked because we dont have the time and/or resources for it. In a slow hiring environment, reprioritizing these things is top of mind.泭

Workforce planning

Analyzing, forecasting, and planning for workforce demand, and assessing gaps in the company to ensure we have the right people in place when things pick back up.

Succession planning

Identifying critical leadership roles in the company and developing plans for individuals to assume these roles.

Hiring manager training

Creating training programs for hiring managers to ensure best practices are used across the company.

Hiring process improvements

Taking a look at the companys current hiring process and optimizing it for efficiency, candidate experience, and EDI.

Employer branding strategy

Revisiting past interviews to see how candidates think of the company, and using this information to evaluate and adjust culture and values.

Building talent pipelines (outbound and sourcing)

Strengthening relationships with top talent for when hiring picks back up again.

Career website optimization

Updating the careers page to ensure it accurately reflects the current company and enhances user experience.

Analyzing talent data

Analyzing data, such as time-to-hire, for insight into optimizing the candidate experience and hiring funnels.

EDI support

Strengthening EDI initiatives with a focus on hiring.泭

Co-op or early talent programming

Developing programs that employ students and/or recent graduates.

Internal talent bootcamps (i.e. for lateral movements)

Creating training programs for other employees to move from one department to another.

Internal application processes

Optimizing the process of current employees applying to available positions within the company.

Support for internal career mapping/development

Building plans that support employees in career development.

Final thoughts

Hiring slowdowns and freezes are always difficult to navigate with a TA team. But the ways you can refocus and rearrange this team are endless. If theres any lesson we can take away from the pandemic, its that simply cutting these roles isnt an effective solution. When things pick back up, well have to put twice the effort into recruiting than it would take to create a plan for reprioritizing.泭

Your hiring slowdown or freeze will inevitably end, and when that time comes, youll have a TA team thats refreshed and ready to go. The bottom line is: your people are willing and eager to do good work its just a matter of giving them the opportunity to contribute in other areas.泭

Current open roles

For those of you that have recently been laid off and are looking for work in Canada, here is a list of talent acquisition roles that are currently open on LinkedIn:

  • - Remote (Canada)
  • (British Columbia)
  • - Hybrid (Ontario)
  • - Remote (Canada)
  • - Hybrid (Ontario)
  • - On-site (Toronto, Ontario)
  • - On-site (Vancouver, British Columbia)

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