Don’t assume hiring has turned the page.
Recruiters may have turned the page on 2023, but that doesn’t mean things are going to get “better.”
By better, I mean easier. Internal recruiters are the only skill area in the typical company set up that need headcount growth to justify their seat.
A company can be flat revenue but profitable. Keep the same headcount. Sales, marketing, tech, accounting, HR, and operations are all ok.
But recruiters? If there’s no hiring, they’re likely gone.
As for agency recruiters? Looking back at the last 10 years of low interest rate fueled growth, it was easy to find companies who needed our collective services. (If you don’t think it was easy, you really should find a new line of work.)
Succeeding in this field – both internally and externally – will require a mindset shift.
👉Internal recruiters may need to do one of two things:
1. Be a hired gun. (i.e. Plan on bouncing around more.) Whether it’s contract recruiting or going into a perm role knowing the need may not be long term.
2. Become an industry expert. Banking, healthcare, insurance, etc. Tried and true industries that may not be the sexiest. But their demand is consistent and stable.
And as cheesy as it sounds, branding yourself as such. Great recruiters can fill anything, but execs still want ‘experts.’
👉Agency recruiters must commit to being great.
Customer Success is an imperative. It took over the software work, but the recruiting space is always 10 years behind.
The best firms (and individuals at those firms) will outperform everyone else because they do the little things right. Responsiveness, transparency, over communication, advisory, etc.
You know, all the stuff the industry has a bad reputation for not doing well.
The days of waiting for the phone to ring are over. At least until the Fed cuts rates back to 0%.
Full episode of The 10 Minute Talent Rant, episode 79 “How High Interest Rates Tanked Recruiting” available here.
Partner at Hirewell. #3 Ranked Sarcastic Commenter on LinkedIn.
