Tough economic times means picking the right person for the job is more important than ever
The economic downturn has forced many businesses to restructure, downsize or close, contributing to global job cuts across the sectors. From tech and banking to retail, the shifting landscape has made many skilled professionals redundant.
Redundancy can be highly emotional, but it is essential for those affected to remember that job cuts are often a result of unavoidable market forces.
At MM Search, we work with many candidates who have been through the redundancy process, and while initially disheartening, many have told us that it has led them to exciting opportunities that have reinvigorated their careers.
The current economic climate means that many businesses are placing their recruitment strategies under increased scrutiny.
The costs associated with finding talent mean that there is more pressure for companies to make the “right choice” the first time, which has led to longer hiring processes with multiple interview stages.
This is intended to ensure that candidates have the relevant experience and skills for the role and are aligned with the core values and culture of the business.
While more rigorous recruitment processes may seem intimidating, particularly for those who have experienced redundancy, candidates can turn them to their advantage.
A more extended hiring period means candidates have more opportunities to showcase their assets and assess whether a role is right for them.
Redundancy can be an opportunity for candidates to rejuvenate their careers, and an executive search team can support jobseekers to secure roles that are both fulfilling and challenging as well as providing unrivalled access to key contacts in relevant industries.
A dedicated executive search professional can also help candidates to understand and communicate their worth to potential employers.
This is essential in assisting applicants to stand out in a competitive marketplace and in supporting them to bounce back from redundancy.
While market forces can be challenging, MM Search is still seeing a healthy number of opportunities across the sectors.
We understand that value is critical to our clients. We have been collaborating closely with our partners to ensure that we find the talent they need to strengthen their businesses and meet growth targets in unstable climates.
Partner Content in association with MM Search