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Hiring during periods of economic uncertainty

June 22, 2023

Today’s economic uncertainty has caused some organizations to hit pause on non-essential senior executive hiring. But we find that, in times of uncertainty, our clients who are actively searching for candidates are coming across a large array of highly qualified individuals. An economic downturn actually works in their favor, offering stronger candidates than they might find during normal market conditions.

It makes sense: During times of economic uncertainty, weaker candidates are more inclined to stay in place, keep their heads down and avoid being included in any upcoming RIF. Naturally, the strongest candidates are not not worried about a RIF, and can use a slower period to actually consider interesting opportunities that come their way.

Yes, it’s true that stronger candidates might get weaker guarantees than they would in a robust market, but this does not concern them too much. Why? Because these individuals are highly confident that their work will be recognized and that they will undoubtedly be rewarded when more favorable times emerge. These candidates are forward thinkers. They want to be in the best position and ready to go to make the absolute strongest impact when the economy heats up.

So, we recommend keeping an open mind toward hiring, and looking for a career change, during unconventional moments. You might find that there are options available to you that wouldn’t be there during an economic boom.