Recession-proofing your tech stack does not mean compromising on good business practices or dispensing with growth. But there’s nothing wrong with doing some spring cleaning!
Taking a long hard look at your technical assets and understanding if you’re getting the right sort of recession-proof bang for your buck is a critical job on the new year to-do list.
2023 will be a uniquely challenging year for most industries. Maintaining a useful, efficient recruitment tech stack in light of potential workforce changes to your sector, and the business risks that arise as a result of turnover and tightened budgets, could be the difference in guaranteeing a sustainable talent pathway into your organisation.
The future of your company is your people. So how do you make sure your recruitment tech stack is agile enough to suffer the slings and arrows of recession, and continue to support your candidates and future hires throughout the recruitment process?
Do a “Recruitment Recession SWOT”.
The cost of living crisis is affecting everyone. The great resignation is not quite over. The tech staffing “winter” is slated to continue even whilst the vast majority of companies suffer from tech talent shortages. Public sector workers are predicted to continue to go on strike, inflation will stay high and mortgages will be going up.
So how will all the above affect your organisation’s ability to attract talent?
If you don’t know, you’re operating with both hands tied behind your back. You need to make sure your recruitment tech stack can improve recruitment efforts in real-time, using verifiable data on everything from changing candidate attitudes and behaviours around flexible work in your sector, to understanding exactly which talent channel is better for talent attraction.
In short, do a Recruitment Recession SWOT – take a diligent eye to how your company sits in relation to others, and in relation to potential risks and issues.
Then make sure your tech stack fits your needs.
Then, analyse your specific business leadership needs.
Is your recruitment tech stack fit for purpose, or are you simply muddling along with an “if it ain’t broke” attitude?
How does your tech stack help you, a business leader, achieve your own specific business and leadership goals?
We know it can be hard to take an objective step back from the day-to-day, but it’s more essential than ever that your assets can support company leadership through a recession.
- We’ll give you an example – a good tech stack helps pull together the disparate data sets needed to source, mentor, and develop future leaders.
- From recruitment tech that helps isolate the best-in-class potential hire, to HR tech that helps elevate performance management analysis and worker outcomes, tech provides the heavy-lifting element of effective workforce management. Every leader must know how their tech stack works to these ends.
This means efficiency, but not at every cost. It means cost-effectiveness without compromising on quality. And it means integration across the board without compromising on the human element of quality recruitment practice.
Go back to basics and compare what works with what doesn’t.
We urge every business owner to go back to basics, and try and get an objective viewpoint on simply what works, and doesn’t, in your recruitment tech stack.
2023 will be a challenging year. Getting your tech ducks in a row is a step to guaranteeing your people are capable of working flexibly, effectively and consistently.
Rectec’s ATS and recruitment CRM free comparison service is a case in point – it provides an objective view of leading providers of recruitment tech and isolates only the most appropriate technical providers for an employer’s needs.
This, in turn, reduces affinity or proximity purchasing bias and provides immediate, objective purchasing value for business leaders everywhere.
The bottom line.
Recession-proofing any business asset takes diligence, data and bravery. It may be that certain functions simply don’t meet the moment, and previously fixed systems of work are not appropriate for our fast-approaching future.
But, in our view, this represents a critical moment in your company and leadership evolution – so take the opportunity to create a more sustainable business ahead of a downturn!
A quick, responsive process is what you need to attract and engage the best talent.
At Rectec we help organisations to find the best Applicant Tracking System or best Recruitment CRM to suit your needs, accompanied by our unique complementary technology marketplace, to help you build the perfect recruitment tech stack for your business.
You can click here to register for Rectec Compare – and best of all, it’s completely free of charge.