ATLANTA - Topgrading guru Brad Smart has a great post on his blog called Topgrading in a Down Economy - a Good Time to Hire!
Simply put, Mr. Smart believes that a down economy is a good time to Topgrade, because there is more talent available, often at lower comp levels.
Mr. Smart, a renowned expert on hiring, thinks that all companies "talk the talk" of hiring A-players, but very few of them "walk the walk." Mr. Smart quotes a McKinsey article that stated "... too many firms still dismiss talent management as a short-term, tactical problem rather than an integral part of a long-term business strategy ..."
Yet just like beaten down stocks that are a bargain in the current market -- A-players are available right now for less than they normally would be. I have seen this happen in my own VP-level marketing and ecommerce recruiting practice. More talent is available at lower comp.
According to Mr. Smart, "This happens in every economic downturn -- more people are out looking for jobs, A players can be attracted more easily, and you have the luxury of being able to get more talent cheaper."
Like my dad used to tell me: "You gotta buy your straw hats in the winter."
