Why We Should Invest in Talent Now- Tammy Jersey
Despite the COVID-related layoffs plaguing the U.S., some of you may have witnessed what’s happening on the other end of the spectrum: companies are hiring! Our firm just completed 4 searches since January — two CEO searches, one CHRO, and one for a brand experience leader — all for companies that are in high growth stages. Two of these searches began in April, well into the COVID chaos.
This was initially very surprising to us until we figured out that businesses are committed to doing what they need to do to stay relevant and thrive during the turmoil. The good news for hiring executives is that many people are open to moving into new roles because COVID-19 is causing people to re-evaluate their lives and they are becoming more comfortable embracing change. Candidates are willing to take the leap they may have previously considered but hadn’t made the move on due to inertia.
And the best news for candidates is that companies are no longer ‘skittish’ about letting new hires work remotely part of the time. This has become the new normal.
I got inspired by this tip of the day by Harvard Business Review:
As strange as it may seem, the current crisis may be a great time to hire top talent. There is an unprecedented number of people looking for work. If your company has the resources to hire, set up a task force to source potential candidates who may now be looking for work or open to a change. Ask your colleagues whether there are any vendors, advisors, clients, or previous job candidates that they’ve been keeping an eye on, then check in with those people to gauge their current job status. Interview and check reference virtually with the same rigor you would in person. Once you’re convinced that you have the opportunity to bring in someone who’s a good fit, learn what motivates them. It’s not always pay — sometimes people are looking for a flexible arrangement or a high level of purpose or autonomy. Arrange to have your candidate speak to senior leaders who can share their vision for the organization and describe the value they hope to build with the new hire. Investing in talent now will help you lay the groundwork for future growth.