According to Statista, tech startups in the food sector have laid off close to 11,000 employees this year. Earlier this year, employers announced they would lay off 159,021 workers. While it is unfortunate for the employees, it is an opportunity for recruiters. As changes in the economy continue a company looking to source candidates affected by layoffs is a win-win.
These displaced workers represent a single source of talent for external recruiting. With a good recruiting plan, you can quickly fill open positions, as these recruits are already in the job market.
In this article, we discuss how to source candidates affected by layoffs and hire top talent from those affected by layoffs.
Where Should a Recruiting Sourcer Look To Find Top Talent?
The main source of candidates for external recruiting is job boards, social media, internal referrals, and others. Even so, unconventional layoff lists are a gold mine for active talent. You do not have to attract this group as they are already looking.
Recruiters can find layoff candidates on free websites such as Layoffs.fyi, Candor.co, Talent airport, and others. Some provide details of employees, including contacts, LinkedIn links, and jobs they are interested in. You can also use ‘layoff boolean string’ to find what you need. Or set up Google alerts and search hashtags to look for talent on social media.
Once you have a list, it is important to note that not all candidates are quality. Sometimes an employee may be an underperformer who was slated to be let go regardless of job cuts. So, how do you find the gem?
How to Identify Top Talent in the Layoff Lists
If you ask any former employee why they were laid off, the most common answer is due to Covid-19. But you need to dig deeper to determine if it is true. Most will not be forthcoming enough to tell you if they have performance issues. The following tips should help you shed light on the situation.
1. Ask the Right Questions
Recruiters need to be tactful when asking potential hires questions. For instance, find out the last time the company gave promotions. Was the candidate among those promoted? But even if they were not, do not dismiss them yet.
Find out what is the criteria for promotions in the organization. In some companies, you must work for some years before becoming eligible. If it is not the case, was someone else promoted? Prod further to find which criteria the employer used.
The information you gather from such questions will guide you on whether you need to go on with the full cycle recruitment, or whether you should move on to the next candidate.
2. Find Out How Many Workers Were Laid Off
Here you want to know if a small or large group was laid off. Companies do not let go of their best workers unless they have no other option. So, if it is a small percentage in a company with many employees, they may have let go of the non-essential or underperforming talent.
Supposing the former employer is a small company with only a few employees. In that case, if the job cuts affected only a small number, it should raise a red flag. Ideally, you shouldn’t have a problem if the company has laid off 100%, or close, of its workforce. Also, give the individual a chance if it was on a last in, first out basis.
3. Take a Deeper Look at the Resume
How often have they been promoted? The more frequent, the better. The employer saw potential if an employee seemed to be climbing the ladder in a particular direction. If you look at a person with barely any experience, scrutinize achievements outside work. For example, a candidate who was valedictorian for several years deserves consideration.
Recruiters must realize that these groups present unique challenges. Most are uncertain about accepting new offers. Some were set to retire in their former company, while others are worried about their financial situation. Using the same old strategies will not work. In short: when looking to source candidates affected by layoffs it’s important to look at the entirety of the candidate’s experience.
How to Stand Out When Recruiting From a Layoff
Employees coming from a layoff need to be assured the next employer will have their back. Money may not be the biggest decider for them as job security. So, how can you allay their fears?
1. Offer More Benefits Than the Salary
If you are a startup recruiting firm, an attractive salary alone will not help you close candidates from the layoff pool. Experienced and talented candidates know their worth. These days they can get information about your company online on social media, Glassdoor, and other platforms. You must be upfront about the benefits candidates will get when they sign with you. Your job posting should include promotions, bonuses, and a career growth path. Ensure they can envision a future at your company.
2. Present a Unique Company Culture That Is Employee Focused
An excellent company culture focused on employee well-being will help you attract top talent. Laid-off employees do not want to start a new job only to discover they do not like the environment a year down the line. Full life cycle recruiting helps your candidate put their fear at ease by having all their questions answered by one person.
3. Be Honest Throughout the Recruiting Process
Honesty and transparency are key in attracting and retaining quality talent. Give candidates an avenue and opportunity to ask questions about your organization and the position. Since laid-off employees may be willing to forego a bit of financial gain for other benefits, ensure you emphasize the company’s well-being programs. Lay out what they should expect both financially and physically.
Recruiting Process Outsourcing
Sometimes you just need a helping hand to quickly find candidates and fill the open positions in your company. Partnering with a strategic recruiting partner is the best solution. They guarantee your candidate pipeline is only filled with quality candidates ensuring your hires are on target. Having a trusted recruiting partner can be the most effective way to source candidates affected by layoffs.
Comeet is committed to providing your business with a smooth recruitment process. Our platform is efficient, easy to use, and leverages experts to meet all your sourcing and hiring needs. Contact us for a demo of how our Elastic recruiting services can benefit your company.
