Talent management will be the key as the market recovers

As the market recovers, one of the first impacts on our industry will be a revival of the temp and contract market. Temp-to-perm will be huge. Employers will see increased work volumes as the economy recovers, but will “dip their toes” into the labour market at first, hiring flexible solutions initially. But then, as momentum is gained and confidence returns, they will start to hire permanently. But the first place they will go for their permanent hires will be to transition tried and tested contractors onto their permanent payrolls. The big issue for us in the staffing industry will be talent management. It’s important we strategise and behave as if we are thinking years ahead when it comes to talent – because candidates will become a short resource again very soon.

Invest not only in adding talent to your database, but also ensuring relationships are built with them and that your systems allow you to access them fast. Find a way to shift the consultants’ mindset from running job board ads after they have taken an order – to a fully integrated talent strategy where your company and your staff are interacting with candidates and potential candidates, in their communities, all the time.

It’s going to be a whole new talent world going forward. The other issue is to think hard about the type of talent companies will be hiring in the recovery. Your tactics need to be based around building a relationship with the 10% that will be in demand and able to be placed, so that as the market rises you will be ready with the right stock at the right time.

It’s not about lots of talent, it’s about the right talent.