Making the Most of a Tight Recruiting Budget
How will the eventful news cycle of 2017 and cyclical nature of many industries affect recruiters’ budgets this year? Orion CEO Mike Starich answered these questions, and others, in a recent article for Recruiting Daily, “What Do You Do When You Need to Hire But Don’t Have the Recruiting Budget?”
Mike discusses the massive layoffs experienced by the automobile industry with the 2008 recession, only for them to have to begin hiring again when the economy gained steam, but on much tighter budgets. He likens this to the current fulfillment center boom, where talent demand often exceeds the budget for acquiring new hires.
Fluctuations in various markets lead to understaffed recruiting teams and companies unable to meet hiring demand. He explains that companies get hit with these problems for one of two main reasons: First is internal attrition. Second is the impact of an unexpected market disruption or acceleration that was not in the current budget.
Mike goes on to give eight tips for how to make the most of a tight recruiting budget, going beyond the obvious first tactic of trying to get more budget room. Importantly, he advises that managers keep on top of industry trends and be prepared for what is coming down the pipeline.
Read Mike’s article here and get prepared for your next recruiting budget crunch.