After a year marked by extensive hiring freezes, particularly in the tech and digital sectors, 2024 is poised to be a pivotal year for talent acquisition. As businesses across various industries begin to thaw from the cold grip of hiring freezes, it’s essential for business managers and talent acquisition teams to strategically navigate the complexities of resuming hiring.
Understanding the duration and impact of hiring freezes:
A hiring freeze, which is a temporary halt in recruiting new employees, can last anywhere from a few months to over a year. The reasons for companies implementing a hiring freeze are diverse. However, an economic downturn, a significant industry transformation, or company-specific factors are the common reasons for employers to stop hiring new employees.
Hiring freezes allow companies to cut costs and buy time to figure out their next big moves, especially when the market’s tough or they’re rethinking their strategies. Hiring freezes in the tech and digital sectors in 2023 has been a global phenomenon. They have reflected the broader economic challenges that have affected the industry.
At Adria Solutions, we have offered our clients advice on how to minimise the effect of a hiring freeze and how to prevent top talent from leaving the company. However, as we step into 2024, there’s a palpable sense of optimism, and many recruiters anticipate a resurgence in hiring activities.
Resuming hiring: Partial vs. Total lift of the hiring freeze:
When a company starts ramping up hiring after a recruitment freeze, it’s crucial to distinguish between a partial and a total end to the freeze.
Partial lift of hiring freeze:
Hiring managers take a strategic approach. Therefore, they focus on critical roles directly contributing to the company’s recovery and growth. It involves prioritising positions essential for operations and those that drive innovation and competitive advantage.
Communication is more important than ever, too. Communicate the rationale behind selecting specific roles over others to maintain transparency and manage expectations within the organisation.
A total lift of the hiring freeze:
It requires a more extensive strategy and planning, considering the broader impact on the organisation. It is an opportunity to reassess and realign the workforce with the company’s long-term goals.
Equally important is budget allocation. HR and the talent acquisition teams must work together to plan where an increased workload is forecast and plan their recruitment strategy accordingly.
Best practices for resuming recruiting after a hiring freeze
- Re-evaluate your hiring needs: Understand how your company’s needs have evolved. Align recruitment strategies with current business objectives and market conditions.
- Update job descriptions and requirements: Reflect any changes in roles or company direction post-freeze.
- Engage with past candidates: Reconnect with candidates who were in the pipeline before the freeze. They might still be interested and can save time in the recruitment process.
- Strengthen employer brand: A hiring freeze can impact a company’s image. Reinforce your employer brand to attract top talent.
- Focus on internal talent development: Consider internal candidates for promotion or role changes, fostering a culture of growth and opportunity.
- Utilise data-driven approaches: Leverage data analytics to make informed decisions about where and how to recruit effectively.
Adria can help you plan your hiring freeze exit
With 2024 heralding a new wave of opportunities, companies are well-positioned to rebuild and strengthen their teams, setting the stage for growth and innovation in the post-freeze era.
Resuming hiring after a freeze is a significant step that requires thoughtful planning and execution. Whether partially or fully lifting the freeze, it’s essential to approach this phase with a strategic mindset, focusing on aligning talent acquisition with your organisation’s evolved goals and needs.
Adria Solutions can partner with you to plan a tailored strategy to attract top-tier digital and tech talent after a hiring freeze lift. Contact our team for a complimentary 30-minute talent assessment.