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Recruiting a Resilient Workforce could be Your Best Strategy as Economic Uncertainty Undermines Confidence in 2023

Google “recession” and “2023” and the results are unlikely to provide any comfort regarding the global economy:

The warnings are ominous.

Consider that the economy is still recovering from the pandemic, inflation is driving finance, interest rates have been climbing at a steady rate and the financial outlook for the coming year keeps getting worse.

Layoffs are also weighing heavily on the 2023 global economic outlook, with JPMorgan Chase, Coinbase, Amazon and Salesforce all trimming their teams. But the pandemic changed everything related to the economy. So is slashing positions the best step forward, even with all the uncertainty?

Luke Doubler, CEO and Founder of RecruiterCentral, argues that companies during economic downturns should be shoring up their operations by strengthening their workforce with teams focused on resilience.

 “This is when it might make sense to double down, doing more marketing and making sure that they stay at the top,” Luke said. “Don’t pull back. You just experienced a slow year like everyone else? Let’s talk about it a little bit.”

And, Luke added, it’s worth keeping in mind that, “Recessions are cyclical. It’s just how it is. Take a step back. Look at your revenue drivers. Build a strategy for the downturn. Don’t just slash.”

Relying on decades of in-house corporate experience, prioritizing diversity and harnessing the power of research-backed data, RecruiterCentral sources talent in a range of career fields, including finance and accounting; human resources; engineering; skilled labor; production; operations; and supply chain. RecruiterCentral recruits candidates with experience and transferable skills who can drive innovation and growth.

And what could be more important to a company during an economic downturn?

 Luke said reducing a salesforce during a downturn can be a mistake. Keep it going, he continued, and build on the momentum you’ve already generated as any downturn looms.

He also recommended “adding value through product”—assess your engineering team, focus on innovation and expand value by creating a better product.   

“Continue refining your product and listening to the needs of the market and keep evolving from there,” he said.

Building on this theme, Forbes in an article titled “Four Ways To Adjust Your Hiring Strategy In Economic Uncertainty” suggest building a talent pipeline.

“Building a pipeline of high-quality talent is essential when facing a looming recession,” reads the article. “As positions become available in your organization, having a short list of quality candidates can help you move fast to stabilize business performance.”

CNBC details the three most “recession-proof” job candidates that remain in demand, despite an economic downturn:

The “Maker”—A designer, software engineer or product manager who creates products or services.

The “Shaker”—An account executive, strategic partnerships manager or market research analyst who extends a company’s reach by drumming up new business.

The “Taker”—A pricing analyst, accountant or client service representative who helps companies organize their finances and increase profits.

“These roles all have a consistent focus and help businesses improve their bottom line,” the CNBC article reads, “either by reducing costs or boosting revenue.”

For Luke, everything—a sound strategy, success and an upbeat outlook—emanates from maintaining a strong team that can weather the ups-and-the-downs.

“Regardless of the economic outlook, there is nothing that can ensure a company’s success and financial security better than having the right people in the right positions,” Luke said. “Everything comes back to your leadership and your team—the people behind your product.”

Visit www.recruitercentral.io for information.