The layoff numbers are staggering: 32,000 at Motorola, 22,000 at Ericsson, 20,000 at Lucent, 6,000 at Cisco, 4,600 at Gateway?? and this is just a fraction of the number of people that were laid off in 2001. In total, almost two million American?s lost their jobs last year due to downsizing. The terrorist attacks in September didn?t help, as many in New York and around the country had their jobs directly affected by this tragedy. The unemployment numbers have reached 5.8%, and many feel that it could go as high as 7% before we see a turnaround. So have you had enough of the bad news? I for one have heard enough of these dreadful numbers and am looking toward a brighter future. Call me an optimist, but I think that the recruitment market will come back with a vengeance! Here is a number that all of you recruiters will be interested in…$7.1 billion! How does it relate to you? Well, if you are reading this article, you must be Internet proficient and you must have found ERE to be a valuable resource for your job. According to Forrester Research, $7.1 billion will be spent on online recruiting by 2005. We are now in 2002, so 2005 is not that far away. What are you doing to be prepared to compete in a strong online recruiting market?
- Research, research, research. Have you ever purchased something that you thought would solve all your problems, only to later discover that it didn?t live up to your expectations? I would imagine most of you answered yes. But by doing a little research on the latest and greatest in online recruiting tools, you will be able to find out which tools will work best for you. During this “recession” that we have been in since the beginning on 2001, many companies in the online recruiting world have vanished from the map. Not to despair: there are many new products on the market from many of the old players as well as the newcomers. Take stock of what you currently have and spend the time now and investigate what tools are going to best suit your needs. If you wait until you are busy, it will be too late.
- Keep your eye open for talent. Many recruiting departments have scaled back their staff to a bare minimum. If this is the case, start networking now in order to identify top recruiters who may be looking for a new opportunity in the near future. There are many recruiters looking for work right now, but focus your attention the recruiters who know how to effectively use the Internet as an inexpensive tool to identify candidates. An Internet recruiting pro will not only save you time, but it will save your company money. This informal pipeline will allow you to move quickly when the time is right.
- Expect the best but prepare for the worst. That may sound a bit confusing, since this article is focusing the positives. But you need to move with a bit of caution. For example, don?t go out and make a huge investment in a new applicant tracking system until you are sure that your company is going to be in a hiring mode this year. There is nothing worse than going out and spending a lot of money on new tools only to have them sit idle. Take this time to map out the tools you will need and be prepared to make the buying decision once it is clear that fast paced hiring is inevitable.
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2002 is here, and by many Wall Street predictions we should have a very strong pick up in the second half of the year, if not sooner. We as recruiters had a difficult 2001, and should keep our hopes up for a strong and prosperous 2002!