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My prediction on what we’ll learn from the current downturn?
Not much. Lol.
What? You were expecting something more optimistic?
Let’s review a few trends:
Here’s the kicker: these were the trends from the mid/late 2020 Covid hiring slowdown. And we’re seeing them all over again now.
And they’re the exact opposite of what we saw in the hot hiring markets of 2021 and early 2022.
So yeah, that will come back too. When the market gets hot.
I’ll be clear: this isn’t a complaint or a dunk. It’s merely an observation of human and organization behavior, which I believe is true in any aspect of business. Not only hiring or recruiting:
👉We spent most of our time in “react” state. Not “cause” state.
I do believe the industry is changing for the positive. By industry I mean all aspects. Internal processes. External agencies. And most of all, the partnership and collaboration models between them.
But it’s slow. Hot markets, when things fire on all cylinders, trick us into thinking the positive changes are permanent. Interview efficiency, positive candidate experience, the high priority placed on recruiting, etc.
In reality, they last until your organization gets an economic punch in the face. Forces out of your control cause you to react by changing plans and abandoning things you know you should do.
You’ve probably seen lots of recycled business hot takes echoing “a down economy is when the next empires are built.” I don’t hate that one, actually. Because it’s simply suggesting that you remain in cause state when things are at their worst.
👉Do proactive, impactful things with long term in mind. Even when you’re in reactive panic-mode about your short term issues.
Tldr don’t let a down market turn you into an empty suit.
Partner at Hirewell. #3 Ranked Sarcastic Commenter on LinkedIn.
In this episode of The Balancing Act, host Sarah Sheridan interviews Kate Dohaney, the global CEO of Orb Group and mom to two. Kate shares her unique path from performing artist to executive leader, detailing her transition through the music industry, advertising, and major roles at The Wall Street Journal and NewsCorp. She emphasizes the importance of resilience, being data-driven, and the power of surrounding oneself with the right people. Kate also discusses the challenges and rewards of balancing a high-powered career with motherhood, offering motivating insights for aspiring female leaders. Tune in for an inspiring conversation about career evolution, leadership, and family.
Episode 4