The line above may have sounded an alarm in the head of many. In the current crisis, it might seem strange even counter-intuitive to go looking for hiring people. But I feel the best time to hire great talent are during the times of mass layoffs. Same as many seasoned stock market professionals would say that the best time to invest is when the market is going down. However, both come with a sincere note. What to do when the stocks are going down? It’s important to invest only in companies with solid business foundations, ethics and future prospects. Doing the due diligence is highly important, in some cases even more so. However, once sure, the investment almost always pays off.
Similarly, if you have the resources and decide to agree with me on this hiring plan. It would require careful planning and execution every step of the way. There are so many who have been laid off. They have lost their livelihood in the current situation. Many might apply for under-qualified or overqualified positions. It’s imperative to identify potential candidates through various vetting processes and they rigorously be checked for the right fit.
Why the candidates would be interested now?
The good thing is many candidates for whom you might not have been an option. Might be due to the size of the organization or even location and infrastructure of the office. They now might have understood the value of an organization that is more stable and humane. Ask around for people who are looking for more than just making money. Reach out to them with values you can add and what skills of theirs do you need. Check their reference, interview them, make them interact with your leadership, even through on virtual platforms. They might be able to explain to them more about future prospects.
Once you are sure about your hire. Know that they would be a great addition to your team for a long time. Find what really would motivate them. People, mature people, always look for more than pay. And more often than not are willing to compromise on pay for suitable work environment or even for higher autonomy or purpose. Give them that if it fits your organizational goals. Do it with a genuine commitment of growth over time. And you would be amazed at how self-motivated team members you might be able to get.
At our company, the tough times that we have been facing right now has been easier to manage. It is because of similar team members. And the one thing I have promised myself and them is that we are going to get through this and grow together no matter what! Not all would have the same commitment and not all would be the right investment. But the way we build our talent pool right now is going to lay the foundation for our future. Just like it helped us survive this current crisis, at least for now, and start growing from here on.