Interesting report from The Conference Board in which it argues that while “during economic downturns, organizations will often look to talent acquisition (TA) as the first place to cut expenses,” this actually does not make sense, that “retaining recruiters during the downturn is crucial to a quick recovery once the economy starts to turn around.”
Some context from the report: “Recruiters are expensive and time consuming to replace. After an economic slowdown, organizations that laid off their recruiters will not only have to scramble to replace them but will lose the organizational expertise they had.
“Rather than cut ties, shift focus: During a hiring freeze, recruiters can instead focus on creating and nurturing talent pools of top performers; transforming the company’s TA strategy, processes, and technology; or they can be temporarily redeployed to other positions within the organization.”
KC’s View:
In sports, it would be described as “having a bench.” In baseball, the key to great organizations often is the existence of a strong farm system. (Right now, the New York Mets are spending a fortune to make the club competitive while a farm system that went to hell during the previous ownership is rebuilt.)
This makes utter sense – you know you are going to need people eventually, so you might as well keep the apparatus alive that will stock the organization effectively at the right moment.
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