Since late 2018, there has been much discussion of a global economic downturn. Business Day published an article in which Swiss-based global staffing group Adecco confirmed that economic uncertainty has made companies cautious about hiring new talent.
It’s true that traditional hiring procedures can be inefficient in terms of finding a truly value-adding placement. But social media recruiting helps businesses triumph over these adverse economic conditions in several ways:
Hiring traditionally using job boards often results in getting a pool of applications that vary greatly in match between your position and candidates’ skills and experience. In an uncertain global business climate, you need to know new placements will have the necessary skills to add value from the start. That they won’t simply apply for fear of not having employment, but will rather provide good fit.
Social media hiring is effective because you can reach candidates who have the skills and backgrounds most relevant to your vacancy, including professionals who may not be actively seeking new opportunities but would nonetheless be interested. A network-based social recruitment system also makes it easy to share vacancies via your colleagues and existing staff, who are more likely to have candidates with similar expertise in their immediate circles.
Debt contributes to the ‘storm clouds’ that have been gathering over the global economy. High expenses place financial burden on companies much the same. Many companies put a lot of budget into hiring, including the often high cost of using virtual job boards.
Yet traditional hiring is one accumulative expense that is easy to reduce. Social recruitment cuts out third party hiring expenses, as you can create social ads fast and share them in your extended social media network.
A global economic downturn is an ideal time to be hiring via social media. Why? Because there are fewer job vacancies and thus more applicants while companies are hiring conservatively. Use these better pickings to your advantage. Set clear criteria for ideal employees to ensure you find the best fit.
The advantage of using social recruitment when the global economy is uncertain is you can find targeted candidates recommended by high-performing associates. Candidates who are eager to commit to a new role and give 100%. Using a social recruiting platform like Global Refer, you can also set referral rewards for successful placement.
This gives your immediate professional and social circle a strong incentive to assist you in finding the ideal person to fill key company positions.
During an economic downturn, competitors may be forced to make very public layoffs that damage their brands as employers. Candidates are looking for secure, stable work environments.
Using social hiring ads you can show trust-building aspects of company culture, telling potential applicants the story of how your business has grown and will continue to with the aid of their sought-after skills.
Need to find fantastic fit for your vacancy? Share, track and manage your first social ad using Global Refer today.