As a recruiter, you rely on your clients to supply you with an influx of jobs to fill, but when an economic downturn occurs, these openings significantly decrease. Whether the economy as a whole is tumultuous or your biggest client experiences a sharp decline in revenue, you have to get a little creative to keep your staffing firm up and running.

A little savvy thinking can help your staffing agency shift from talent provider to a trusted advisor to both companies and employees alike.

Three Ways to Remain Profitable in Economic Turmoil

Help People Strategize

Weathering economic uncertainty is tough, and people remember those who stuck by them and helped them get through it. Use this opportunity to build relationships with new clients and deepen existing ones by offering advice. Help companies decide whether layoffs are necessary, and if so, which positions to eliminate. Work with employees to help them determine if their job is in jeopardy and start searching for safer, more stable opportunities.

Offer Guidance

When companies are forced to lay employees off, step in and offer your services. If possible, set up an on-site office to help those who receive a pink slip figure out the next step. This can include services such as career counseling and resume assistance to help freshly unemployed people bounce back as quickly as possible. Companies don’t like to lay employees off, so management will be very grateful for your assistance. When the organization gets back to a better place, you’ll have already built a trusting relationship, so there’s a very good chance you’ll become the new go-to recruiter.

Steer Employees Toward Temporary Work

Many people shy away from contract work due to a desire for long-term job security, but challenging economic times may cause them to reconsider. Work with employees who have been laid off or think they will soon be out of work, and help them understand the benefits of temporary employment. Once a nearly impossible demographic to sway, these people will be much more receptive to alternative types of employment when their paycheck is on the line.

To remain profitable in an economic downturn, you need to run your staffing firm as efficiently as possible. ECS offers cost-effective services to help recruiters manage their contract workforce personnel in an efficient and compliant manner, so key resources don’t have to be exhausted on these tasks. Contact us to learn how a partnership with us can increase your bottom line!