Amidst an ongoing pandemic, hiring has likely become a topic of angst for many companies. While the need to operate carefully during these uncertain times is obvious, falling into a mindset of scarcity can lead to limiting beliefs that spread company-wide, stirring up fear and dissatisfaction among staff who, now more than ever, need to be operating with grace and precision.
Despite present challenges like handling remote interviewing and hiring, many companies are recruiting as normal during COVID-19, picking from a remarkably diverse pool of talented candidates. If your business is currently wondering whether hiring during the pandemic is the right choice, here are three key reasons why the risk is worth the reward.
1. There is an unprecedentedly large pool of talent to pull from.
As a result of layoffs, furloughing and staff shuffling that has occurred throughout the pandemic, the current pool of talent actively looking for new work is unusually large and full of skilled candidates.
As founder of MyNonExec Alex Arnot notes in his blog post on ‘why hiring now could supercharge your business,’ this pool is made up of a variety of candidates, including: employees who left their jobs before or during the pandemic after feeling that they were being treated poorly by their employer; those who have been furloughed and, with time to reflect, have decided that they want to move on from their current company; those who have turned the pandemic slowdown into an opportunity to pursue a start-up idea (and who could be worth a calculated investment); and high-quality candidates who have lost their jobs due to business cash pressures.
With so many to choose from, there’s a good chance your business can find a perfect fit for the role you want to fill. And while each of the groups mentioned above has the potential to add significant value to your business, this last group of candidates, in particular, brings us to the next reason why now is an opportune time to hire:
2. Top-tier candidates are out there–and they’re getting snapped up.
The economic chaos caused by COVID-19 made many companies hastily tighten their belts and let go of some of their highest-quality employees. Thrown into the market by surprise, these highly accomplished candidates are available purely by chance, and their value is so obvious that it won’t be long before someone seizes the opportunity to scoop them up.
When debating whether or not now is a good time to hire, it’s important to note that while current hiring may have slowed, companies are still hiring. As the new year approaches, many companies are creating new roles, new departments, or expanding the responsibility of existing departments in order to better operate during the pandemic.
Companies choosing to hire now can reap the benefits of what Alex Arnot calls “first-mover advantage,” beating out apprehensive competitors by taking on top-tier candidates that simply won’t be available once the pandemic is a thing of the past.
3. Strategic hiring now can mean major rewards in the future.
Many economists are predicting a global economic bounce back will occur in the relatively near future, from anywhere within the next few quarters to the next few years. Although the exact timing of a full recovery can’t be pinned down, gradual improvement is inevitable as companies and consumers look to shake off the lethargy of past months.
Critically, experts say that this period is not devoid of opportunity. Companies that innovate, adapt to a remote workforce and remain nimble throughout the coming months can become the success stories of the post-pandemic era, and these goals can be achieved through the hiring of smart, creative and qualified candidates.
Making a smart investment in future growth is never a bad decision, and with the help of a skilled staffing agency, finding extraordinary talent can be easy. At Bower, we screen candidates in a way that doesn’t start and end at an assessment of their past experience, but includes testing that examines each candidate’s calendar and logistics abilities, includes cognitive games and judgment testing, and evaluates emotional intelligence – EQ. By leaning into technology and data, we are able to avoid industry stereotypes to find surprising, diverse and deeply brilliant candidates that count among the top 1-2% of the best talent in the world.
If you’re ready to take the plunge of hiring during COVID-19, Bower is here to take the guesswork out of finding a great candidate and leading your business to its next phase of success.