Talent Recruitment is Key in the Property Market

During an economic downturn, companies often overlook the importance of a solid talent recruitment strategy. This is not the time to become complacent. An effective team will be your important weapon in your fight for survival.

As a result of the downsizing that's going on, a growing pool of qualified, talented people is available on the market. Organizations have the opportunity to thoroughly screen and assess candidates to ensure appropriate skill level and corporate culture fit. Pinpoint the key competencies that you require in your management team. Clearly define your requirements. Incorporate behaviour based interviews, rigorous reference checks and work samples into your talent recruitment strategy.

Apply the same diligence to your promotional decisions.  You need top talent who will produce results and help you through these uncertain times. Sometimes this means looking at people who don't quite fit the mold in terms of sex, age and race.  Remember, you're running a business and the name of the game is survival.

EMPLOY OR OUTSOURCE

In an uncertain economic climate, the decision to expand your team should be weighed carefully. Is there any point in dramatically increasing your employee base to respond to new projects? An unexpected change in the financial stability of even a few of your key clients can mean a bunch of layoffs a few months from now. Hefty payouts for benefits, severance and vacation pay can substantially trim your bottom line. There is a pool of freelance and contract talent available to handle challenges at all levels of the organization. 

Ask yourself:

• Does this project really have to be handled by an employee?
• Is outsourcing a viable option?
• Would we gain more flexibility by responding to this increase in business by using freelancers or contract workers?
• Can tele-commuting be used as an alternative to increasing overhead in the form of office space, furniture, and computer equipment?

We can provide you with an analysis to compare the full cost of filling a position with an employee vs a contractor. Factor in the costs if there is a need to lay the employee off. The results may surprise you.

Visit us for more information on how to improve your staff recruitment.