Hire Now or Later?

Hire Now or Later?

June 2020

Written by: Kelly Renz, President & CEO

Top talent is always in demand.

Novo has been sharing best practices and ideas about how to approach talent during your workplace recovery and “normalization” to the new environment.

In a previous blog, we shared that hiring will continue even if companies are doing layoffs.  Evolving business needs is something that needs to be addressed with the right talent in the right seat, so it’s not unusual that during times of crisis and disruption, we see our talent needs shift as well.

What does this mean to recruitment?  I was on a recent call with a group of CEO’s and the conversation turned to their employees and staffing.  The original comment from one was, “Well, we won’t have a tough time hiring for a while now that unemployment is higher again.”  I asked the question, “How do you know you have the top talent now, and how are you going to compete for the top talent now available?  They will have many choices still.”  That conversation quickly turned to a more strategic need for continued targeted recruitment and better selection processes.  Just hiring bodies to fill positions will not be feasible in new expense constraints – they will need better talent.

Top talent is always in demand.  During downturns, many organizations halt hiring, putting key roles on hold to see what happens.  The cost savings is understandable to do so.  However, as we start to regain traction in our businesses, everyone else will be turning on the talent spigot at the same time, making the demand for the top talent the same as it always has been – fierce. 

We posit it will be even more competitive because organizations have learned about their performance over the past three months – who made it better and who didn’t.  Many organizations will make changes to their leaders and teams, looking to do talent upgrades and hire people who operate more like athletes (those who are more flexible and wear more hats naturally).

Now is the right time to refresh your top talent needs and avoid being left behind your competition who is going to scoop up the best people and top-grade their own organizations.