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We are not yet in a recession. But companies are already taking measures to scale back on their hiring.

Big companies that have announced a hiring freeze:

Hiring Strategies In Light of a Potential Recession

1. Hire Only the Essentials.

We are not yet in a recession. But companies are already taking measures to scale back on their hiring.

2. Be Creative with Your Hiring Needs and Resources.

Hire freelancers, repurpose talent to take up new responsibilities, and promote internal mobility.

3. Try “Hiring-Freeze” Instead.

Resist the temptation to lay off staff nearing retirement. Most companies dismiss older employees and hire younger, less-expensive talent as a cost-cutting strategy, but this can have an adverse effect on the productivity of a company. More often than not, the cost required to train new employees is higher than the cost to retain old, experienced employees.

4. Upskill Existing Talent.

This strategy helps with increasing employee retention rate as well as cost-saving in the long run, as you can get more work done with lesser manpower.

5. Use Recession-Proof Recruitment Tools

Opt for all-in-one recruitment solution that can do more with your existing budget rather than employing multiple solutions and tools to address recruitment needs such as interview scheduling and communication.

Recession-Proof Recruitment Tools and Solutions

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