1、How to thrive in an uncertain economyBest practices and how-tos for todays marketEBOOKTable of contentsEvery industry has its moments of economic uncertainty.The past few years have seen incredible highs for the staffing industry,as well as some stiff headwinds.How can staffing firms set themselves

2、up for success,regardless of these headwinds?IntroductionHow to navigate economic uncertaintyOptimize business processes a.Understanding your business b.Leveraging data and technologyBuild a culture of connection a.Culture matters b.Growth through trainingInnovate in the face of uncertainty a.The va

3、lue of A group of researchers conducted a study of 4,700 companies before,during,and after a recession and uncovered some valuable insights.*The organizations that flourished werent those that battened the hatches and weathered the storm;they were forward-looking and took a progressive approach.What

4、 did they do differently from their competition?With these strategies,these businesses outperformed their peers by at least 10%in sales and profit growth.*Harvard Business Review,Roaring Out of Recession,201017%of companies dont survive a recessionOperate efficiently to reduce costs permanently.Stay

5、 closely connected to customers to win market share.Invest strategically in tools to respond faster to a future rise in demand.80%that survive dont return to pre-recession sales and profit growth rates even three years afterward9%flourish post-recession on key financial parameters and outperform We

6、spoke with staffing industry consultants to learn how organizations can take a progressive approach in the face of uncertainty.This eBook will unpack the insights they shared and examine how you can:Optimize business processesBuild a culture of connectionInnovate in the face of uncertaintyClick any

7、icon to jump to that area,or follow the eBook to navigate each set of insights in Optimize business processesUnderstanding your businessHaving a clear understanding of your business is crucial to weathering uncertainty.The pillars of any organization are your mission,vision,and values.Once the core

8、of your business is established,its time to take stock of your processes and workflows,document them,and integrate them so they support your mission,vision,and/or values.Documenting company-wide processes is foundational to begin optimizing your business.If you dont have the time and resources to do

9、cument all of them,focus on those that you want to improve upon and will move the needle for your company.Accessing those insights into how your business is operating,even in just a few key areas,can drive real financial results while working within limited resources.As you clarify these core elemen

10、ts of your business,remember your three key stakeholders are candidates,clients,and colleagues.Tom Erb,President,Tallann ResourcesIf you dont have a process in place,youre winging Leveraging data and technologyOnce you have an understanding of your process and workflows,its time to evaluate the tool

11、s at your disposal:your data and your tech.When you have all of your processes aligned and your data organized,its clear where tech can do the heavy lifting.Most staffing technologies already have best practices in place,like Bullhorns Connected Recruiting methodology.Theres no need to reinvent the

12、wheel;refer to and implement these best practices as they relate to your existing workflows,even if you need to modify them to suit your organizations needs.This is especially true for automation.Build an inventory of how recruiters and sales reps use the bulk of their time to decide where to focus

13、automation to optimize processes:What work is repetitive?Where do you need to focus on relationships?It all comes back to data.Your success with tools like automation will be limited if your data isnt clean.Without clean data,its difficult to properly evaluate your metrics and find where to grow.Aut

14、omation can help build connections with your candidates and clients by keeping you visible,and your people can shore up those connections by building meaningful relationships.After all,candidates,clients,and even colleagues want to feel connected above all.If you leverage tech to optimize your proce

15、sses and build connections,you cant go wrong.Lauren Jones,Founder,Leap Consulting SolutionsTom Erb,President,Tallann Resources“Understanding your data is the key to remaining both agile and competitive.”“Process is only as good as its implementation.”Click here to learn more about Bullhorn ACulture

16、mattersRemote work is now a mainstay for much of the modern workforce.A study from researchers at Stanford,Harvard,and other institutions analyzing over 50 million job postings in early 2023 found that postings explicitly mentioning remote work are at 12.2%a fourfold increase since before the pandem

17、ic.Leaders need to find ways to keep their employees motivated and that starts and ends with culture.That means fostering a culture of accountability,acceptance,and change.Receiving feedback from your candidates,clients,and colleagues and implementing it is imperative.Organizations can build culture

18、 around several aspects of the business,from work-life balance to technology and innovation.Fostering cultures that align with your mission and extending that to your candidates and clients can be the key differentiator for your organization.Lauren Jones,Founder,Leap Consulting Solutions“Understand

19、what candidates and clients want more of,what they want less of,and how they want to engage with you.All of that comes from a culture of listening and acceptance.”Build a culture of Growth through trainingTop-performing organizations build a culture of continuous improvement,primarily through traini

20、ng.A slowdown is an ideal time to get in front of your end users and train them.In their work,the consultants are seeing an increase in proactive training in skillsets that will be valuable in the future,like working with generative AI.Its essential to keep your finger on the pulse of new areas like

21、 this to stay ahead of your competitors.Training isnt limited to new technologies;its critical to refresh your teams knowledge of the tools you use every day,like your ATS.Improving the performance and productivity of your existing employees through continuous training is a more efficient way to sca

22、le than adding new team members.When it comes to training,content needs to be short and easily digestible.The experts recommended cutting 45-to 60-minute long programs to five-to 10-minute-long,highly interactive modules to accommodate changing expectations.After all,your end users are consumers.Tra

23、ining is an opportunity to internally market your current technology within your organization and increase buy-in.Tom Erb,President,Tallann Resources“Most people only know 10%,or even less,of what their ATS can do.”Maurice Fuller,Founder,StaffingTec“Training is incredibly important to keep everyone

24、at a high level of capability.”Firms that continue to innovate even amid uncertainty will be well-positioned to gain an edge over their competitors and capture market share.The challenge is finding the right areas in which to innovate.A good place to start is to find where innovation will significan

25、tly improve your business operations that is,by looking at the Metrics That Matter.These are key data points along the talent lifecycle that measure the performance of your talent lifecycle strategy and demonstrate how well your business is doing.Innovation doesnt necessarily mean that your firm nee

26、ds to be on the cutting edge of technology.It can also include finding new ways to optimize your current processes and taking advantage of features within your existing technology that youve left unused.“Realigning your process with the existing technology you have is still innovating.Creating a str

27、eamlined,frictionless experience is innovation in and of itself.”Innovate in the face of uncertainty“If your market is in a slowdown,your competitors are slowing down even more.We need to be hitting the gas right now.”Tom Erb,President,Tallann ResourcesLauren Jones,Founder,Leap Consulting SThe value

28、 of experimentationOne of the most significant differentiators is between companies that value innovation and experimentation and those that dont.That approach starts from the top down.When you look at leading companies in other industries,theres constant experimentation.Of course,theyre prepared to

29、 see many of these experiments fail,but there are always lessons to be learned,and amazing success can emerge from failure.Ultimately,times of adversity are chances to differentiate your business.Now is the time to press on,optimize,connect,and innovate to emerge from uncertainty more successfully t

30、han ever before and more importantly ahead of your competitors.Thank you to Lauren Jones,Founder of Leap Consulting Solutions,Maurice Fuller,Founder of StaffingTec,and Tom Erb,President at Tallann Resources,for providing some of the insights found in this eBAbout Bullhorn Bullhorn is the global lead

31、er in software for the staffing industry.More than 10,000 companies rely on Bullhorns cloud-based platform to power their staffing processes from start to finish.Headquartered in Boston,with offices around the world,Bullhorn is founder-led and employs more than 1,600 people globally.To learn more,vi

32、sit or follow Bullhorn on Twitter or LinkedIn.Ready to get started?Connect with a team member Bullhorn has you covered for every part of the recruitment life cycle.Request a demo today to see our solutions in action.Get startedConnected Recruiting Navigator This discovery tool is a quick reference guide to influence your journey through the key Moments and Metrics That Matter.Download nowIndustry InsightsGlobal Recruitment Insights and Data(GRID)is Bullhorns home for original research on the staffing and recruitment industry.Learn more