Benefits February 2, 2009

Recession Offers Opportunity to Bring in Top Talent

February 2, 2009 (PLANSPONSOR.com) - While many employers throughout the United States may be cutting back on overall staffing levels during the economic recession, companies also recognize this period of time as an opportunity to hire top-quality job candidates, according to Jobfox.
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More than three-fourths (76%) of more than 200 in-house corporate recruiters interviewed say the recession offers an opportunity to bring in higher quality talent to their organizations during the first half of 2009, Jobfox said in a press release. However, 53% of in-house recruiters expect their companies to hire fewer new employees during the first six months of 2009 compared to the same period a year ago.

“It’s the typical recession reaction whereby companies want to cut or freeze staffing levels, but not at the expense of losing good people or hiring top-flight contributors,” said Rob McGovern, CEO of Jobfox, in the press release. “The companies that will emerge victorious will be the ones that are most resourceful in managing cost-efficient recruitment activities.”

The survey also found recruiting budgets are under closer scrutiny, with 48% of in-house recruiters expecting to operate with decreased budgets during the first half of 2009. Meanwhile, recruiters say they are inundated with job seeker applications.

The Jobfox 2009 Poll, Recruiting and Hiring in a Recession, was conducted during the months of November and December, 2008, using a random list of current and prospective Jobfox employer clients.

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