There is no guidebook for what just happened. The past few weeks have affected different businesses in different ways.
One thing all business owners have in common is that they’ve had to quickly adapt company operations and demonstrate agility in these challenging times to adjust to the way they now carry out business. And for some, certain operational elements may never go back to the way they were.
For recruitment, it would be naive to say that it is carrying on as business-as-usual and the employment market will continue to fluctuate for some time. In the short-term many businesses may focus on keeping existing employees in employment rather than looking at hiring new.
Think longer-term
As a business owner, it is an opportunity to ask yourself some challenging questions that will help you future-proof your business. Use it to think beyond the relatively short-term operational needs, and consider how the world might change, and how your organisation will need to respond. This should include a review of your staffing structure and capability. If you were looking at hiring pre Covid-19, but you’re now limited with finances, are there any roles that can be merged? Are there areas that you can multi/cross/upskill your employees to assist with future operational changes? Investing in your people at this time will be motivating for them and could see you come out the other end of this ‘temporary’ crisis in a better position than you entered.
An optimum time to hire
If you are looking to hire new staff, over the next six months or more could be an optimum time to proceed with your search. Pre Covid-19 the demand for talent outstripped supply, and unemployment in Hamilton and Waikato was one of the lowest in New Zealand. In a matter of weeks, we’ve gone from a tight employment market, to one with more talent. For employers looking to secure business-critical talent right now, this is an obvious advantage.
Explore your hiring options
There is of course still a lot of uncertainty in the employment market. If you are not in a position to take on a full-time permanent employee at this time, then there are other options to consider. Temporary employment, fixed-term employment, and contractors are all options that could be explored as a solution to suit your more immediate operational needs.
If you’re looking to hire or would like to discuss your current staffing structure, do get in touch with our team. As we navigate these uneasy times, we’re focused on providing support and guidance to help you find the best solution for you and your business.
This article first appeared in the Waikato Business News, May/June 2020.