Despite the current FUD  in the world surrounding COVID-19, now is still the time to hire – if your company can. Wait. What?! We’re seeing massive layoffs, historic unemployment, and slow-downs left and right, what is this guy saying? Right?!

That’s exactly what I’m saying: hire now! Why? As long as your company is not looking at a looming bankruptcy, or the industry has significantly dried up, it should certainly be looking to add people as things will swing back upward. This doesn’t mean just go out and hire blindly, for sure! This means focus on strategic hiring goals, critical roles and hard-to-fill positions. None of us truly knows how long things will last, but we’re already seeing companies up-staff and hire as some of their products and services are under increased demand, markets creeping back open, and so on.  That means that the light at the end of the tunnel is not an on-coming train!

What’s the point though, right?  Isn’t everybody in a hiring freeze?  Simply, no.  Some are slowly adding, and some are hiring massive amounts.  Most companies are not hiring tens or hundreds of thousands of people, but they also feel that while the current market is unfortunate, it’s a set-back.  This is always the time to define and realign.  We only have to look back at 2008-2009 when the banking crash hit, or post-9/11 when horrific events shook the world to see that we will rebound and overcome.  Humans learn, and businesses adapt.  The companies that are slow to gather this will be behind when the talent pool dries back up.

The approach is simple, and is hinted at above.  The dynamics of hiring still follow the good/fast/cheap model.  Like in many things, you can’t get something for high quality, great service, AND at a low cost.  Something has to give!  Even in a down market, the A-players will always have choices.  Because of this, there might be a false lull and there will be some great people available right now and willing to work for low dollars.  While the top-notch players — the alphas — will always be in demand, no matter what the economy, and they may be part of a RIF and therefor more available, they likely already have a line of suitors contacting them.  So sitting back and waiting for them to come, or having an ivory tower attitude toward external candidates is a grave mistake.  Instead, there needs to be a renewed focus on hiring.

Without putting you to sleep and going in the weeds, start first with critical roles and hard-to-fill positions (currently open or not), and look at the broader picture down the road.  If you have turnover in these areas, it could be devastating to have a long search.  Search for great culture matches that fit your company’s leadership principles (example).  Network and pipeline candidates that fit your target personas so that you can expedite the process.  Open your mindset to altering the roles you are hiring for in order to bring in a top contributor, instead of plugging holes reactively.  Align your thinking around networking with and hiring the best talent ahead of headcount numbers and role-types.  All of this takes time to evaluate, understand and execute and there is no time like the present!

A little about me:  I’ve been involved in Human Capital for over 20 years with the last 15+ in Talent Acquisition leadership and advisory.  My quest is to expedite hiring processes, bring the best people to the best companies, and help people along the way.