BLOGS

The U.S. economy has declined for the past two consecutive quarters, leading many to speculate that a recession is on the horizon.

And while economic experts maintain that it's too soon to declare a recession just yet, the trend is enough to cause businesses to start thinking conservatively about the foreseeable future-especially when it comes to hiring.

Fortunately, businesses can turn to staffing agencies for not only human resource support but also for guidance during periods of economic uncertainty.

Let's explore some of the largest benefits of partnering with a staffing firm during a recession.

Benefits of a Staffing Agency Partnership During a Recession

Labor Market Forecasting

Staffing agencies are experts on labor force trends. We have a pulse on what's going on in HR at all times, which equips us to make predictions on the future state of the job market.

In this way, we are able to guide businesses through human resource challenges during a recession.

Here at FrankCrum Staffing, we provide clients with assistance and predictions related to market trends and geographic supply and demand reports. These insights allow hiring managers to make more informed resource decisions, especially when finances are strict.

Access to Temporary Resources

During a recession, employers face a difficult trade-off of needing resources to accomplish deliverable work while remaining conservative with their expenses.

In these situations, temporary or contract workers can be a great help and an excellent flexible option for employers. They allow employers to bring talent on board for specific projects or periods without the associated risks and cost they must incur when hiring full-time talent, including workers' compensation and benefits packages.

Partnering with agencies like FrankCrum Staffing is a great way to gain access to temporary staffing services. We have ongoing access to top talent seeking contract work.

Save on Recruiting and Onboarding Costs

Recruitment and onboarding are costly endeavors. Dedicating internal resources to finding employees pulls them away from their other responsibilities.

That's why staffing agencies are great partners when resources and employees can't afford to be spread thin. We handle the recruitment work for you externally, allowing your internal resources to focus on the tasks that demand their expertise.

Additionally, agencies such as FrankCrum Staffing offer salary benchmark reporting based on location, industry, and the evolving market.

These efforts, which take place before the recruitment process begins, allow you to gauge how employees in your region and industry are compensated for different positions. This knowledge ensures that your business is competitive with your compensation offerings.

Staffing companies also understand that one of the most effective ways to keep things lean during recession periods is to retain your current workforce.

Performance reviews and stay interviews are ways to monitor your current employees' satisfaction levels and help them stay motivated by their work. We'll provide you with guidance on effectively conducting reviews and interviews.

Plus, agencies like FrankCrum Staffing have the expert knowledge to help you develop a comprehensive retention plan that will keep your employees engaged and around for the long term, in addition to reducing your need for supplemental staffing.

Final Thoughts

With the threat of a recession looming, it's a good idea to begin preparing your business now.

And by partnering with our team of staffing, recruiting, and human resources professionals at FrankCrum Staffing, you can ensure that you are apprised of job market trends and strategies for success during economic downturns.

Contact us today to learn how a partnership with FrankCrum Staffing can help you navigate uncertain times and meet your employment needs.