Hiring During an Economic Downturn

In this insightful article, Hoffman makes the point that quality help is harder to find during a downturn. His point is that during a downturn, the applicant pool is large, but not filled with the top people, as they are less likely to be laid off. He may or may not be correct, however. In some cases, great companies, who have great people, do go under during a downturn. That improves your odds of finding a great person. For us, the key is staying on top of the market. Know your competition and also those companies who play in your arena in general. If there are layoffs, that may be the time to look for the few people who you still need to complete your team.