Are Recruitment Consultants Recession-proof?

Ever since the onset of the Covid-19 pandemic, the worldwide stock market has experienced a shocking collapse. It is estimated that the downturn has been three times worse than the 2008 financial crisis.

As a result, most industrial sectors are suffering from the worst they could imagine. However, even though most industries went into crisis, some sectors were able to dodge the bullet. Prime examples of such sectors were the medical and healthcare, food, and IT.

However, there was one industry that was not just unfazed but impressively expanded during the recession period. Recruitment and consultancy!

So, how did recruitment consultants manage to flourish during such testing times?

Well, here’s how.

Reasons Why There’s a Demand for Recruitment Consultants During or After the Recession

A rise in demand for contractors and part-timers

Many would assume that during the recessionary cycle, businesses would not recruit new employees as they would want to cut back on their expenses.

Though this might seem true theoretically, the reality is a bit different!

During challenging times, businesses require every possible competitive advantage to establish themselves optimally for survival. Therefore, to replace the employees that the companies have decided to let go, they try to hire contractual workers. This makes way for recruitment consultants to guide the companies in such times of need and introduce them to the best-suited candidates as per the requirements.

The overflow of job applicants

During the recession, the market is flooded with unemployment, and most individuals rush to get another job.

Companies are overwhelmed with applications for jobs during such times. However, with numerous resumes to go through, several companies often fail to acquire proper candidates. The reason? Lack of appropriate resources and effective selection tools to ensure that they get the best choice for what they need.

This calls for the need for a recruitment consultant. Recruitment consultants can help companies and businesses to see through the pile of applicants through an extensive screening process to make sure they meet their best match.

Finding suitable candidates without heavy spendings on advertisements

Companies that do not have a proper recruitment department sometimes lack the knowledge of where they should post their recruitment ads to get the right kind of applications without spending over the budget.

During the recession period, every penny counts. Recruitment consultants can help companies save advertising expenses and find the ideal candidates suitable for the job role.

This helps in hiring the best of talents and saves companies from heavy marketing expenditures.

Opportunities to become an advisor.

Both job applications and businesses try to look for advice on how to solve the difficulties presented by the market amid an economic recession.

If you are a recruitment consultant, this can be your time to shine.

While applicants worry about getting placed in companies suited for their personality and skills, businesses are on the hunt for professionals who could contribute to their growth. This is where recruitment consultants can be of great help.

Recruitment Agencies such as DaoDe Search advises on legal recruiting and employment possibilities for both clients and applicants. This helps both parties to make the best use of the resources.

If you’re Good, You’re Going to Stay!

You, as a recruiter, can indeed find the method to preserve your position at any firm if you are in with your A-game.

Any employer would try to prevent their finest recruitment consultants from leaving the firm so that they can recapture the market as soon as the economy bounces back.

It can be considered flawed for a company to lose a high-performing employee in the middle of an economic depression. Efficient and hard-working employees are pretty crucial to keep the business on track.

Recruitment agencies know the value of efficient employees because once you lose them to a recession, it is tough to get your best people back.

Conclusion

Ever since we have entered this pandemic, the entire dynamic of employment in almost all sectors has changed. And the only professionals who can help both job seekers and businesses simultaneously are recruitment consultants.

So, even though everyone who works in the corporate setting fears being at the mercy of the market fluctuations, recruitment consultants can lay back with the relief that they won’t be losing their jobs in the downturns!