Monday, May 4, 2009
Is the Recession Changing How Companies Hire?
A new article in The Economist magazine says - Yes!
Here are just four of the ways that this global recession is impacting hiring practices per this article. It could impact the job search strategy you execute moving forward.
1. Screening now and making offers but not to start working until next year or sometime after the recession ends. Companies want to be ready to ramp up when things turn around. Look for employers to defer start dates, "giving them six months or a year to travel or do public service."
2. More companies are hiring freelancers, contractors and part time help. This eliminates the costs associated with full time benefits. Many new college grads, including MBA's have to be satisfied for now with temporary work assignments.
3. Companies are pulling back on the perks they use to offer to attract the best and the brightest. With much talent in the marketplace, employers realize they don't need to offer the same incentives.
4. Less opportunities are now available for international students who thought they would be able to get lucrative job offers after graduation from US schools. Many companies are looking at local talent first.
Read the entire article here.
What changes are you seeing in recruiting at your company?