Tuesday, 9 December 2008

Doing Business in a Downturn

What are your recruitment and advertising agency clients worried about?

1 Maintaining cash flows
2 Curbing costs

How can you change this to a strategic advantage?

Want to survive the downturn? Here are my top tips for ensuring that your recruitment/advertising business continues to thrive:

• Talk to your clients - it is too easy to rely on email - your clients are lonely...let them know you are out there!

• Talk to your ‘stars’ - your top performers can always get another job elsewhere, even in a downturn. Make sure they know you value their contribution.

• Swing towards consultative ‘help’
–Mini outplacement assistance
–Flexible working / reduced hours

• Offer interim candidates - this may seem a safer bet in uncertain times

• Get into new functions or sectors - the power of the internet means you can easily attract new candidates - you just have to find out where they are!

• Reach into Europe / E Europe / Middle East - not all sectors and geographies are affected. Research new areas where your skills are transferable. Again the internet is a good way to find both new clients and candidates.

A few more points:
• The downturn is here – creative tactics can help ride the wave
• Executives do use the internet to find jobs – and even more are registering for job boards every day
• The UK is ahead in online executive recruitment but the world is shrinking
• There is a role for traditional media coupled with online
• The fastest growing executive market is India but the largest in Europe is Germany
• Candidates want the same experience online as in the newspaper – high quality and integrity - make sure your ads reflect the high standards you want to attract.

For more articles and information visit www.bettythayer.com.
Copyright Betty Thayer, 2008