In recent times, looming trade wars between the USA and China and other global factors have weighed on emerging market currencies, creating a volatile, risk-averse economic climate.
Global shocks affect everything from government interest rates to simple bread-and-butter issues for workers in emerging markets, such as the price of petrol. Yet there is an upshot: These tremors in the global economy can be useful to recruiters looking to hire new candidates. Here’s why:
Say, for example, you run a business in an emerging market country but most of your clientele is based in a developed country more immune to current ups and downs in global trade. Your business would make an attractive employer to a candidate looking for a placement that has a little more security.
With social recruiting you can message whatever benefit you like in your social ads and target them at segments of job candidates who are aware of the global economic climate and are looking for security over perks or other elements.
Unpredictable economic conditions can also be daunting when you have expenses such as the cost of hiring staff to manage. With social recruiting, you don’t have to pay expensive listing fees. Instead, you can set a fixed reward for each successful placement with your company, paid to the person whose share leads to finding your preferred candidate.
One challenge many businesses in the hiring cycle face is how to retain good employees who might leap at higher paid or otherwise appealing opportunities. During a time of economic uncertainty, it’s easier to find employees who are motivated to perform and earn a permanent (or long-term contractual) place. Social recruiting helps you target candidates who fit segments that tend to retain better, such as older candidates or candidates looking for substantial work experience.
When two countries like the USA and China (for example) pursue protectionist policies, this makes it harder for global job-seekers who are not citizens of these countries to find local job opportunities. Because local workers and suppliers are favoured over international ones.
The good news for recruiters is this leaves qualified candidates seeking international work experience or post-training placements more abundantly available. Make use of periods of isolationist business policy abroad to attract competent staff who’ve been denied opportunities elsewhere purely on account of their nationality.
In business, there’s long been talk of a ‘fourth revolution’ or ‘digital revolution’, whereby developments such as automation and big data have shifted work from manual and manufacturing based to digital services and skills. Countries entering trade wars are still pushing manufacturing, mining and other primary industrial activities as key sources of employment. This means that you have great access to candidates whose niche digital skills may not be sufficiently recognised and sought-after.
A global trade war focusing on manufacturing jobs and other manual labour is thus a good time to find candidates via social recruiting whose skills will be relevant not only tomorrow but next week, month and year.
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April 15, 2019 Back