Softening job market beginning to free up ‘best talent seen in years'
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Softening job market beginning to free up ‘best talent seen in years'
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Category: Worldwide - Industry economy -
Trends / Expert's advice
This is a press release selected by our editorial committee and published online for free on 2008-11-24
TMS Asia-Pacific has advised those industry employers placing a moratorium on staff hire that now is in fact the perfect time for companies to be stocking up on quality staff in anticipation of the global business upturn predicted next year.
The travel and hospitality recruitment specialist said that while many companies were continuing to stick with hastily implemented hiring freezes, other more canny businesses were using the current situation to source top level candidates in preparation for next year’s eagerly anticipated business boom.
TMS Managing Director - Asia, Andrew Chan said it was those companies taking the initiative now which would pull ahead of the rest in terms of their staffing and company performance when the current situation changes.
“We have seen a major shift in the market in recent weeks with yesterday’s job-heavy, candidate-light scenario being almost completely reversed on an overnight basis,” he said.
“The upside of this is that we are now starting to see some very strong talent emerge – in fact some of the best we have seen in a number of years.
“Now is the ideal time to hire supreme talent to ensure companies are meeting their service level agreements.”
Mr Chan said that many companies had ‘knee jerked’ in the current environment and in numerous instances, effectively frozen recruitment until further notice.
“But it is these companies which are the ones most likely to be encountering staffing problems when the tide finally turns and things start to improve,” he said.
“Those who have taken the initiative and filled their critical roles or started the ball rolling by developing a pipeline of quality candidates and talent pooling are the ones who ultimately stand to benefit from all this.
“There is a silver lining to every cloud and invariably it is during these turbulent times that employers are presented with the perfect opportunity to snare those quality candidates.”
Mr Chan said that for many companies, talent pooling, while still a relatively new concept for employers, presented them with a good alternative solution to overcome future staffing problems.
”Companies developing an effective talent pool strategy are more likely to succeed.
“Talent pooling not only helps employers identify good people, it’s also enables them to build relationships and networks with these candidates – even before an employment opportunity becomes available.
“It should always be remembered that while times of crisis present many difficulties, they also present innumerable opportunities – talent pooling is one of those emergent opportunities.”
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