When the threat of a recession is looming, it can incite feelings of insecurity, stress or even fear about the future of your business. And when you’re in – or trying to avoid – crisis mode, employer branding may not be the first thing that comes to mind. But, it can be even more critical than ever during times of uncertainty. Because what happens during a recession can have long-lasting repercussions, even after the economy bounces back.
- The available supply of job candidates may increase in the event of a recession. You need to optimize your brand and brand messaging, so you can make lemonade from lemons at this time and continue to draw the best talent towards your organization.
Here’s how your brand can work for you.
Balancing cost-saving measures with preserving your employer brand can be daunting. It’s important to be transparent with candidates and employees about any impact a recession is having on your company, and to protect your culture and reputation at the same time. Your brand adds value during a recession by:
- Reinforcing your values. During a recession, continuing branding efforts that emphasize your company values reminds current employees of what initially attracted them to your organization. It also puts those values clearly in front of job seekers, so they know right away whether their own values are in alignment with yours. This is key to the right cultural fit.
- Protecting your company during a time of change. Here’s where regular, ongoing brand communication comes into play. Now may be the right time to conduct a survey to not only take your company’s employee engagement temperature, but also identify and address any potential issues. Seeking team members’ input, actively listening, and making every effort to understand their concerns is always effective – but especially during challenging times.
- Growing and refining your talent pipeline. No matter how devastating, recessions are temporary. So even if your ability to grow or even maintain your full workforce is limited for the time being, you will eventually need to hire again. Your investment in employer branding today will pay off when that time comes.
Recession-proof your workforce.
Most employers are familiar with recession-proofing their business: becoming as economically resilient as possible through steps such as cutting expenses and more tightly monitoring cash flow. But, also focus on strengthening your brand as you recession-proof your workforce: Maintain morale, motivation, inspiration and loyalty, even during economic downturn. Because without your workforce, there would be no business.
Employer branding is one of the pillars supporting your successful recruitment marketing efforts, in good times as well as uncertain ones. With nearly three decades of experience, Haley Marketing is the largest website development, social and content marketing firm serving the temporary staffing and executive recruiting industries. Let us put our expertise to work optimizing your branding strategy and communications as you plan for the future, and whatever challenges it may bring. Contact us today to learn more.