Thu 18 Sep 2008
Hiring Tips for a Slow Economy
When the economy slows down and bouts of panic start to cloud your mind, it is better to think and act rather than just react to the situation.
In fact, a slow economy is the right time to pick up some good employees without having to pay through the nose. Here are some hiring tips that you can implement in a slow economy.
Proceed Slow and Steady For a New Face
Do not hire new staff in a hurry. Take some time to browse around in the job market since there might be an ample supply of good employees.
You might be able to hire experienced employees at very reasonable salaries.
Check Your Prospective Employees' Backgrounds
Do not forget to crosscheck the background of all new employees before you hire them.
Remember that you need to search out efficient and honest employees at reasonable rates.
You could pay heavily in your excitement of getting new employees at low salaries if a new employee is inefficient or dishonest.
Do Not Hire Over-Qualified Employees
Do not hire over-qualified employees just because you can now afford them. You might not be able to find the right work for them and will probably lose them once the economy picks up.
Make Sure They Fit In
You need to ensure that your new employees fit in with your existing employees. Keep an eye out for any friction and soothe ruffled feathers as soon as possible.
Interact with all your employees at regular intervals to find out on whether they are happy or unhappy over certain issues.
You may be able to lay your hands on some excellent employees during a slow economy - but keep the long-term picture in mind when you do so.