Should Tech Companies Hire an IT Recruiting Agency During a Recession?
Recession fears, instability in the banking system, record inflation… There’s no question that the economy is in a tough spot right now. By some definitions, the U.S. has already entered a recession – we experienced two consecutive quarters of negative GDP growth last year. But whether we are already in a recession period or it’s looming on the horizon, your company needs to be prepared to face the storm.
During difficult economic times, it can seem like hiring a recruiting agency is the last thing your organization would want to do. However, your company’s personnel needs won’t stop just because of a recession, much less the possibility of one. In fact, you’ll need top performers more than ever, so your business stays afloat. But finding and hiring IT professionals and other kinds of tech experts on your own can be time-consuming and expensive. Plus, there’s the risk of a bad hire, which can be extremely costly and draining on morale.
That’s where the services of a professional tech staffing and recruitment agency come in. An IT recruiting agency can help you find, hire, and retain the people you need at a cost you can afford – and that’s more important than ever in a downward economy. Keep reading to learn more about why tech companies should rely on IT recruiters to source top talent when the economy takes a dive.
Why Should Tech Companies Continue to Hire Talent in a Recession?
During difficult economic times, many companies make the mistake of putting a stop to things – hiring, marketing efforts, etc. – to save money. This is often a mistake. It might seem counterintuitive to hire during a recession, but there are actually many great reasons to do this.
Since your competitors are cutting back on hiring or even laying people off, you’re able to acquire talented tech professionals with the crucial skills and knowledge your company needs. Additionally, hiring through a recession helps you maintain a healthy talent pipeline – once the recession is over, you’ll be stronger than ever.
How can you find qualified candidates in a tough economy? With the help of an IT and tech staffing agency.
Here are the Steps an IT Recruiter Takes to Help Employers Find Qualified Candidates in an Unstable Economy
One great thing about the technology industry is that it tends to keep growing, even in the face of a recession or an economic downturn. The demand for new and innovative technologies doesn’t go away simply because the economy is in a slump – and your company needs access to the best people who can make that technology work.
Here’s how an IT recruiter helps your business find the best candidates, even during a recession:
IT Recruiters Optimize the Hiring Process
Hiring managers for tech companies have a lot on their plates. They probably don’t have the time to take a deep dive into the data and see what parts of the recruiting process are working well – and which ones aren’t. But when the hiring funnel can be analyzed, your company sources better candidates. For example, if you can spot a bottleneck where candidates tend to drop out of the process or from what source your most diverse candidates apply.
Of course, this all takes time. That’s why relying on a tech staffing agency is the smart move – IT recruiters make it their mission to optimize the hiring process, reducing bottlenecks and roadblocks so you get the right candidates for your open roles. Another benefit of this optimization is speed. When you allow a recruiting firm to take care of the administrative side of things – sourcing, background screening, setting up interviews, and more – your core staff is free to focus on important business objectives, rather than the details of hiring. This means you get qualified candidates presented to you faster.
IT Recruiters Help Get You Ahead of Your Competitors
A laid-off IT professional from another company could be a great asset for you. During a recession, take advantage of the talent pool that’s out there. IT professionals will be looking for work during a recession if they’ve been let go, and you’re in the perfect position to snap them up if you work with a dedicated IT recruiter. Plus, since specialized recruiters can access passive candidates – those who aren’t looking for work but might be open to new opportunities – you’re doubling the chances of successfully finding the next great candidate for your open job.
Help Improve Your Recruiting Strategy
A recession might slow hiring down, but it doesn’t mean it has to stop. Furthermore, partnering with a tech staffing and recruitment agency is a great time to overhaul and improve your recruiting strategy.
You can work with your recruitment partner to identify key roles you need to hire for or backfill. You can evaluate your interview process – are there too many interviews or too few? You can identify areas where candidates lose contact with your company and take steps to fix them. You can revamp your job descriptions to attract better candidates right off the bat. The possibilities are endless.
IT Recruiters Provide Quality Candidates-Fast
One of the greatest benefits of partnering with an IT recruiter is access to industry expertise. Tech recruiters know the field, and they know what kind of skills and knowledge your company needs from its employees. Sometimes, your company’s HR team isn’t fully aware of the details of a software engineer’s job description or the skills needed by a systems analyst. If they make a hire, but the person isn’t totally qualified, you’re out a lot of time and money – and you have to start the search over from scratch.
An IT recruiter ensures you’re making the right hire the first time because they know the IT industry itself. Thanks to their technical knowledge, it also avoids the risk of a bad hire. Plus, your company can access the vetted, qualified talent you need faster than you would be able to on your own. It’s a win-win-win.
IT Recruiters Help Your Organization Save Money
For business leaders, few things are as important during a recession as saving money. And as mentioned above, it might seem counterintuitive to hire an IT recruiting firm during tough economic times – but it’s actually a good way to save.
IT recruiters can supply you with temporary IT staff, which allows you to scale your workforce up or down as needed. Add employees when you need extra help for projects and scale back when you don’t. Also, with temp-to-hire staffing options, you can evaluate an employee on-site before deciding whether to add them to your team full-time. This lets you avoid the risk of a bad hire to ensure your dollars go as far as possible. Of course, if you’re looking to add full-time team members to your roster, direct-hire services allow you to attract, identify, and hire qualified candidates cost-effectively and timely.
If you need help finalizing your compensation structure for open tech roles, your IT recruiter can help with that, too. Thanks to their familiarity with the industry and common salary ranges for any given position, they can help you ensure you’re finding the best value-for-money candidates out there.
Partner with a Tech Staffing and Recruitment Agency to Find Quality Candidates for Your Team
Is your company in search of quality IT candidates for your open jobs? Looking for an IT recruiting agency to partner with to find those people and strategize the best options for hiring? Look no further than PEAK Technical. Our IT staffing services are designed to help your company fill temporary and permanent openings with the right people when it matters most – including during tough economic times like the ones we’re facing now. We offer temporary staff augmentation, temp-to-hire services, permanent placement, and employer of record (EOR) services to ensure your organization’s personnel needs are met.
Since 1968, PEAK Technical has been helping companies across a wide range of industries find the quality personnel they need to get important work done. If you’re ready to find the IT experts you’re looking for, contact our team or submit your request for talent today. We look forward to working with you to supply your organization with the skilled IT talent it needs.