The talent acquisition landscape is facing a situation that offers both challenges and opportunities (and it’s happened before). While some businesses are in a position to grow, the previous stagnation caused by widespread layoffs has given rise to a cautious approach towards hiring full-time employees. Our blog will delve into the recovery of the talent acquisition market and explore how companies can navigate this period by engaging contract Talent Acquisition (TA) specialists alongside strategic partnerships with recruitment agencies.
Recent industry layoffs have significantly impacted talent acquisition teams, finding many TA specialists stretched very thin. According to a study of the 2022/23 layoffs, the largest group of laid-off employees in the sample were from HR & Talent Sourcing (27.8%). The emotional and professional consequences of these restructuring decisions have caused a shift in job market dynamics for TA professionals. Naturally, folks want to get back to the industry they specialize in, but there’s nervousness surrounding the longevity of roles that are being advertised.
There also remains a hesitancy on the employer’s side to commit to hiring full-time TA specialists amidst ongoing market volatility. Financial concerns and risk management strategies are influencing hiring decisions, as does the social pressure of not being “that” company that hires and fires on a whim.
Contract TA specialists are increasingly becoming a go-to solution for businesses facing this challenge. They offer flexibility, cost savings, and specialized expertise for targeted projects without the long-term commitment required for full-time hires.
Who better to connect you with a TA specialist than a Rec2Rec firm? The advantages of these partnerships include access to a talent pool of specialists, industry know-how, quicker hiring times, and risk mitigation. While your existing TA team focuses on critical hires within their range of expertise, our team can focus on finding them an outstanding teammate to support their efforts.
When we speak about risk mitigation, good hires cost, but bad hires cost far more. If a new hire doesn’t work out, you’re back to the drawing board and all the time and associated dollars are spent. While there’s some trepidation as markets and business start climbing, skip the risk of getting it wrong, and choose a flexible solution which also offers you a cost/productivity guarantee. When your business identifies a need for support, look to firms offering flexible TA solutions including project-based hiring and fixed term contracts. Interim TA Specialists continue to use their skills & expertise to support your stakeholders when they need additional heads, and businesses have the capacity to strategically grow at a sustainable rate; it’s a win-win for everyone involved.
If you are a company looking to leverage contract TAs or partner with recruitment market specialists, we offer tailored consultation services & talent solutions. For TA candidates looking to land their next role, send us an email at info@raymondgeorge.agency or speak with Looba or Julianne directly. If you’re new to the RGC community, be sure to subscribe to our LinkedIn page for more updates and trends on navigating talent acquisition in this evolving market.
