Is Now the Time to Identify and Attract Key People to Your Company?
Recession
Layoffs
Limited Credit
Foreclosures
Pessimism
Layoffs
Limited Credit
Foreclosures
Pessimism
There is not a lot of good news regarding business and the economy today. Many companies have been affected by the events in the marketplace, and the future is gloomy on many fronts. Most businesses tend to hunker down, cut costs, reduce staff, revisit budget and growth projections, and/or postpone activities.
You may be making one or more of these adjustments in your organization. As you go through these procedures, keep one thing in mind...
This is a Great Time to Identify and Attract New Leaders!
I realize this idea seems completely contrary to the attitude that may exist within your organization at the present time, but that is exactly why it may be one of your most advantageous moves.
As the uncertainty in the marketplace clears (and it will) and as the cycle hits bottom, many companies, including your competition, will begin to assess their leadership needs for the next move up in the economy. At that point, the War for Talent will reassert its ugly head, and you will once again be reminded of the challenges of identifying and attracting leaders to your organization.
The demographics of the market have not changed during this current downturn. It is still very difficult to find the right leaders for your organization. However, you may be able to take advantage of certain phenomena which occur during these cycles. Many companies are concentrating on what they need to do to endure the downturn, and they are taking their eye off of the importance of their relationships with their key people.
In addition, many individuals will take the time to reflect on their current role and company to determine if they are achieving their long term career goals. They may determine that a new direction in their career is right, and they will be more receptive to hearing about other opportunities. The combination of these factors can directly benefit your company which is distinguishing itself in the marketplace by actively seeking a new key person.
You Need The Best People
You need the best people you can possibly find for your company. The right person or persons will have a huge impact on how your company works its way through the difficult period and how it prepares for the recovery.Keep in mind that it takes time (usually at least a few months) to identify, assess, interview and hire a new person to your management team. In addition, there is additional time involved in getting that new person acquainted with the people and processes in your company and ensuring he/she is prepared to begin to add value to your team.
If you use the time during this current economic slowdown to pursue and fill that existing or anticipated void in your management team, you will be much better prepared to take advantage of the early stages of the next business cycle.
If you have or anticipate a key position opening...
If you need to add and begin to develop some bench strength in one or more areas of your management team...
If you anticipate expanding the markets you serve, the products or services you provide, or some other new initiative as the economy improves...
This is a Great Time to Identify and Attract New Leaders
If you have limited or no internal recruiting resources...
If your recruiting efforts have proven to be inconsistent in the past...
If you do not understand how executive search can bring value to your firm...
If you have used executive search or external recruiters in the past and this experience has been less than positive...
Carl J. Taylor & Co. is the resource to help you identify and attract your next key leader or one-of-a-kind position.
For a free consultation regarding your company’s current or anticipated hiring needs, please call (972) 490-7697
or email ctaylor@carltaylorco.com