Warning bells are ringing. The emerging economy will be quite different from the one we have come from. There are signs of change everywhere. General Motors breaks down, and Tesla, Phoenix Motorcars, and Detroit Electric begin to make electric cars, changing the paradigm about what a car manufacturer should look like. Companies like IDEO are organizing themselves differently and deliberately to foster innovation. They are small and look for capabilities and interests and passion in the people they hire — not degrees and pedigree.
Rather than a focus on rapid growth, companies will look for sustainable growth. To achieve this, many more workers will be contractors, consultants, or work as temporaries or part-time. The average age of the workforce is going to get older as Baby Boomers stay longer and fewer young people seek regular corporate jobs. Learning to re-use and find new positions for internal talent will be important.
Many economists are worrying that we may have a jobless recovery, which means that rather than hire lots of people, companies will not seek to fill the jobs eliminated in this recession. They will try hard to maintain a small, highly productive workforce. Today’s BLS figures indicate that productivity is at an all-time high, despite the layoffs and slower economy. That means we are all working harder (and maybe also smarter). So CEOs may be asking: why do we need to add more people and lower our productivity?
What Does This Mean for Recruiting?
Recruiting is full of managers. These are the people who run their recruiting organizations efficiently and effectively. They implement processes, cautiously install technology, focus on customer satisfaction, and stay within their budgets. As long as the world doesn’t change too much, they thrive.
For many organizations, this can be outsourced. A solid, well-chosen RPO can take over the transactional side of recruiting and provide the people you need. It may cost a bit more than the internal recruiter and may not always be as tuned-in to the environment, but they will be capable and offer flexibility in times when hiring is slow.
As I have written many times before, internal recruiters will have to become competent in thinking more broadly about talent. Here are five things you can do. keep reading…