20 Years, 20 Lessons: Staying Resilient and Recruiting in Recession Times

The recent announcement that the UK entered a recession at the end of 2023, marked by successive declines in GDP in the last two quarters, has undoubtedly cast a shadow of uncertainty over the business landscape. 

After 27 years working in recruitment, 20 of them as a Director of Adria Solutions, I felt it would be a great idea to share how staying resilient and optimistic and adapting our business strategy helped us survive the previous recession. I now want to share the lessons we learnt from previous recessions. 

What would be the impact of the UK Recession? 

Will this recession have a potentially worse effect than in 2008? Kevin Peachey, Cost of Living correspondent for BBC News, rejects this idea. “What happened in 2008 – the deepest recession for 80 years – had implications for people for many years subsequently. Living standards for many failed to improve for years”, he recalls. However, Kevin Peachey believes that this recession will be shorter. “Various economic indicators are suggesting that this time around may well be a shallow recession and not last for too long”, he added.  

Will UK companies stop recruiting in recession times?

Will companies cancel job interviews and freeze their processes, like at the beginning of the pandemic? Or will companies remain recruiting as usual? Time will tell. We can only imagine the economic recession will see more significant effects in some industries, while other UK industries will hardly be affected by the recession. 

We can tell you from our experience that hiring during a recession when unemployment rates usually grow, and there’s growing uncertainty around the jobs market, needs a new recruiting strategy. We have seen it with some of our long-standing clients. In these trying times, resilience, positivity, and a community-focused mindset can be your greatest assets. 

The Ripple Effect of Recession

A recession doesn’t just impact recruitment companies; it affects everyone – from clients and candidates to colleagues within our industry. Recognising the broad impact of economic downturns is the first step in formulating a constructive response. 

Cultivate Resilience and Positivity

In times of economic hardship, humility and empathy become invaluable. Acknowledging that we’re all navigating this storm together fosters a supportive environment where collective resilience can flourish. 

Reassess the Jobs Market and Set Realistic Goals for Talent Acquisition

It’s crucial to reassess your business and personal goals against the current economic climate. Setting realistic, achievable objectives provides a sense of direction and helps maintain motivation and focus amidst adversity. 

For clients, it doesn’t mean freezing all recruitment but identifying all those critical roles your company will need to fill to keep growing in the long term. Keep your talent pool warm to reinforce your employer branding and attract and retain top talented professionals.

And for any potential candidates: No, you don’t have to stay put in a job that no longer aligns with your career goals; there will be excellent opportunities for IT, Digital and Marketing professionals who want to progress in their careers.

Be Present for Your Network

Now more than ever, being available and accessible to your network is vital, so we’ll ensure that we stay 100% available for our clients, candidates, and colleagues. Whether through advice, a listening ear, or practical assistance, offering support can make a significant difference to those struggling with the recession’s effects.

Offer Tailored Support to Individual Needs

Understanding that each person’s and company’s situation is unique has allowed us to tailor our support effectively. Some candidates may face job insecurity, while some clients or recruiters might also deal with reduced business opportunities. Being sensitive to these varied challenges is essential.

Adria’s Strategic Approach to Survive the UK Recession

We have seen it before: Innovation becomes crucial in uncertain times. That is why we’ll keep looking for new ways to deliver value, exploring alternative recruitment options for our clients (e.g. increasing contract recruitment instead of permanent recruitment), and using our intelligent recruitment technologies to recruit more efficiently. 

We must remember our core values and strengths: Knowledge, Attitude And Trust. At Adria, we’ll remain resilient while working hard to offer expert advice and insights and support our clients and candidates in every possible way so that our efforts direct where they can have the most impact. 

If you have any concerns, feel free to contact our team. Give us a call at 01625 874399. You can have an informal chat or book a free 30-minute meeting to study your individual situation.