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Recruiting Passive Candidates in Tough Economic Times
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Recruiting Passive Candidates in Tough Economic Times
Consider this as a basic truth: in tough economic times every job looks better, especially the one you already have.
This would imply that during recessions there are fewer good people actively looking and it’s tougher to get the best passive consider to even discuss your career opportunity. If this is the case, one could conclude that the bulk of the people who are looking during economic downturns tend to be those who are unemployed or marginally employed.
Since this group does not represent the best-of-the-best, you’ll need to rethink your entire sourcing strategy to make sure it’s targeting the people you want to hire. Here’s a short video describing how good people enter the job market. Now here’s a quick test to determine how well you’re doing: if you’re seeing less good people than last year using the same sourcing techniques, stop using them!
However, if you do find a few good people, regardless of how you’re finding them, expect these candidates to have more objections and concerns than usual. And the better the candidate, the more objections the person has. So, if you can’t smoothly and professionally handle objections, you won’t be placing many top performers.
Here are some ideas on how to deal with some common objections. They’re more prevalent with the economy on shaky ground. The theme behind them all is to reveal very little information about your assignment until you have a complete understanding of the candidate’s background. By withholding information, you’ll gain candidate interest. This is the key to applicant control.
Handling Common Early Stage Objections
1. What’s the compensation? When someone asks, don’t tell! Say, “Before I tell you that, I’d like you to think about the best jobs you’ve ever held, those that gave you the most personal satisfaction. Were the reasons they were the best due to the amount of money you were making or due to the work you were doing?” (PAUSE and wait for an answer.) “Now, if the job I’m representing offered you a chance to maximize your personal satisfaction plus offered a competitive compensation, wouldn’t it make sense to at least discuss it for 5-10 minutes?” Most people will say yes.
2. First, tell me about the job. You must never tell the person about the job, even the actual title, until you have conducted a quick work history review. Start the conversation by asking your prospect if she’d be open to discuss an opportunity if it were clearly superior to what she’s doing now. Most people will say yes, then immediately say “Great. Could you please give me a quick overview of your background, and I’ll then give you a quick overview of the job. If it seems mutually interesting we can schedule some time to talk in-depth.” You have applicant control when the person says yes. You lose it if your job is less appealing than the one the person has now. By having the candidate talk first, you can look for potential areas where your job is bigger. If not, you’ll have developed a relationship with the candidate that will allow you to ask for referrals.
3. I’m not interested. If anyone says this, you’ve violated a fundamental law of recruiting – the candidate must tell you about their background before you tell them about the job (see Point 2). To recover from this faux pas, say, “That’s exactly why you should consider this job.” Just the fact that it’s illogical helps gain the person’s attention. Follow up by asking, “Are you aware that you just made a major career decision using minor information?” Describe a few strategic nuggets about your job that make it worthy of a short discussion. Something like your company has just invested in a start-up to exploit a new market opportunity, so growth should skyrocket over the next few years, would be a good example of how to get someone to talk a few minutes. Here’s a YouTube video podcast describing my “Magic Bus Theory of Recruiting” which will provide you some insight on how to better handle the “I’m not interested” objection.
4. I don’t like the company. If your company is struggling, or has received some bad press, you’ll need to conduct some preventive PR to offset the recruiting damage. Describe the impact the person could have in restoring the company’s image. It’s also possible the company’s reputation is based on old info, and a turn-around has begun. In this case, make sure you have some real evidence you can use to offset the negative beliefs. As you begin these damage-control efforts, make sure you understand the candidate’s concern and then ask, “If we can demonstrate that your concerns while true in the past have been rectified, would you be open to explore an opportunity with our company?” Of course, then you have to prove your case, but at least you’re moving the process forward....
Source:
http://www.ere.net/2008/07/18/recruiting-passive-candidates-in-tough-economic-ti
This would imply that during recessions there are fewer good people actively looking and it’s tougher to get the best passive consider to even discuss your career opportunity. If this is the case, one could conclude that the bulk of the people who are looking during economic downturns tend to be those who are unemployed or marginally employed.
Since this group does not represent the best-of-the-best, you’ll need to rethink your entire sourcing strategy to make sure it’s targeting the people you want to hire. Here’s a short video describing how good people enter the job market. Now here’s a quick test to determine how well you’re doing: if you’re seeing less good people than last year using the same sourcing techniques, stop using them!
However, if you do find a few good people, regardless of how you’re finding them, expect these candidates to have more objections and concerns than usual. And the better the candidate, the more objections the person has. So, if you can’t smoothly and professionally handle objections, you won’t be placing many top performers.
Here are some ideas on how to deal with some common objections. They’re more prevalent with the economy on shaky ground. The theme behind them all is to reveal very little information about your assignment until you have a complete understanding of the candidate’s background. By withholding information, you’ll gain candidate interest. This is the key to applicant control.
Handling Common Early Stage Objections
1. What’s the compensation? When someone asks, don’t tell! Say, “Before I tell you that, I’d like you to think about the best jobs you’ve ever held, those that gave you the most personal satisfaction. Were the reasons they were the best due to the amount of money you were making or due to the work you were doing?” (PAUSE and wait for an answer.) “Now, if the job I’m representing offered you a chance to maximize your personal satisfaction plus offered a competitive compensation, wouldn’t it make sense to at least discuss it for 5-10 minutes?” Most people will say yes.
2. First, tell me about the job. You must never tell the person about the job, even the actual title, until you have conducted a quick work history review. Start the conversation by asking your prospect if she’d be open to discuss an opportunity if it were clearly superior to what she’s doing now. Most people will say yes, then immediately say “Great. Could you please give me a quick overview of your background, and I’ll then give you a quick overview of the job. If it seems mutually interesting we can schedule some time to talk in-depth.” You have applicant control when the person says yes. You lose it if your job is less appealing than the one the person has now. By having the candidate talk first, you can look for potential areas where your job is bigger. If not, you’ll have developed a relationship with the candidate that will allow you to ask for referrals.
3. I’m not interested. If anyone says this, you’ve violated a fundamental law of recruiting – the candidate must tell you about their background before you tell them about the job (see Point 2). To recover from this faux pas, say, “That’s exactly why you should consider this job.” Just the fact that it’s illogical helps gain the person’s attention. Follow up by asking, “Are you aware that you just made a major career decision using minor information?” Describe a few strategic nuggets about your job that make it worthy of a short discussion. Something like your company has just invested in a start-up to exploit a new market opportunity, so growth should skyrocket over the next few years, would be a good example of how to get someone to talk a few minutes. Here’s a YouTube video podcast describing my “Magic Bus Theory of Recruiting” which will provide you some insight on how to better handle the “I’m not interested” objection.
4. I don’t like the company. If your company is struggling, or has received some bad press, you’ll need to conduct some preventive PR to offset the recruiting damage. Describe the impact the person could have in restoring the company’s image. It’s also possible the company’s reputation is based on old info, and a turn-around has begun. In this case, make sure you have some real evidence you can use to offset the negative beliefs. As you begin these damage-control efforts, make sure you understand the candidate’s concern and then ask, “If we can demonstrate that your concerns while true in the past have been rectified, would you be open to explore an opportunity with our company?” Of course, then you have to prove your case, but at least you’re moving the process forward....
Source:
http://www.ere.net/2008/07/18/recruiting-passive-candidates-in-tough-economic-ti
