Here’s Why Experienced Recruiters Matter More In Uncertain Economic Times

Experienced recruiter

As we move through 2023, the economic climate is continually uncertain. The Fed is increasing interest rates, inflation is still staggeringly high (though stabilizing as interest rates take effect), layoffs continue, and hiring is slowing.

Understandably, candidates look at the current economic situation with trepidation. Many are less likely to leave a stable job, and those willing to make a change may not be fully aware of all the associated risks.

The job of an experienced recruiter is to ask intelligent questions that help candidates thoroughly think through the process of switching jobs in an economy like this.

In this article, we’ll discuss current hiring trends and the right questions an experienced recruiter will ask.

Hiring Trends Right Now

As of April 2023, hiring continues to be on a slow decline. Across all industries, hiring decreased 0.6% in March and is down 28.2% year-over-year. The 0.6% decrease is the smallest seen in the past 11 months, so the hiring slowdown seems to be…slowing down.

Time-to-hire is also down, averaging 97.1 days in January 2022 compared to 81.1 days in March 2023. This itself may seem like a good thing. While it can be, it can also signal a larger problem: urgency to fill open positions before hiring freezes take effect in anticipation of a recession.

Candidates-per-hire, or the number of available, qualified workers for a given job opening, increased dramatically from 84.4 in January 2022 to 136.6 in March 2023; though it did dip slightly, down from 141.5 in February 2023.

Big picture: hiring itself is decreasing, but time-to-hire is down and there are a lot of candidates per open role. 

These factors combined paint the picture that hiring teams aren’t getting the resources they need.

Companies may be preparing to slow hiring to deal with higher costs and a looming economic recession – if they haven’t done so already. As such, understaffed hiring teams are moving as fast as possible to fill critical positions, perhaps sacrificing some due diligence along the way.

It’s worth noting that employees are also very aware of this data, and when they look at the job market, most anticipate uncertainty. LinkedIn’s Workforce Confidence Survey found that US workers’ confidence about “holding or finding a job has also declined since April 2022,” although it did see a slight increase in March 2023.

To convince a candidate to leave their current job amidst times of uncertainty, recruiters will need to be extra diligent. This means asking the right questions so candidates know the risks associated with leaving a job; recruiters will also need to assess a candidate’s ability to leave their current position based on extraneous factors (family, finances, etc.). 

Uncertain economies aren’t the time to sacrifice due diligence when evaluating candidates, so an experienced recruiter is essential.

Related: 2023 US Labor Market Guide: Comprehensive Overview and Market Predictions

The Importance of Helping Candidates Evaluate Risk

Times of economic uncertainty require recruiters to ask questions that help candidates gauge risks associated with leaving their current job. 

This must be done as early in the process as possible, and the goal is not to convince the candidate to take an open role at any cost. Instead, recruiters should form an open dialogue that ensures the candidate understands potential risks and is serious about moving forward.

Failure to ask the right questions early in the process can result in the recruiter going through the entire hiring process only to see the candidate think through the risks on their own right before the offer or start-date phase. 

Overwhelming feelings of doubt arise, but, at this point, the candidate will question the motives of the recruiter and may be less likely to listen to their input. They may worry that the recruiter is simply saying whatever it takes to close the deal. This results in a lose-lose for all, where a qualified candidate backs out at the last minute because the recruiter didn’t do proper due diligence at the start.

The Right Questions To Ask

The best recruiters know what questions to ask when it comes to helping candidates assess risk. These “right questions” help candidates think holistically about a career change while simultaneously allowing the recruiter to gauge how serious the candidate is.

Seasoned recruiters will help candidates think through the following when it comes to switching jobs during uncertain economic times:

  • Are my finances in the right place?
  • How stable is this new company?
  • How does my spouse feel about this change?
  • Will this change affect my children?
  • Who will I be working with at the new company? Do I like them?
  • Is now the right time to leave my current company?

Experienced recruiters know that this is not a sales game. It’s not about closing the deal at any cost – quite the opposite. This is about understanding that candidates likely need help from someone experienced to think through risks they could otherwise overlook. 

Asking smart questions creates a win-win for all. Recruiters understand which candidates are serious; candidates are fully aware of the risks involved and avoid unpleasant surprises that may cause them to back out far into the process. 

The Importance of an Experienced Recruiting Partner

No recruiter can close all candidates, but a highly experienced recruiter will identify and address risks early on. Doing so keeps candidates happy and ensures they don’t back out far into the process, as that would cost your company lots of time and money.

The best recruiters balance doing their job well with being human. They ask the right questions to identify a candidate’s motives and help them properly assess the situation.

Jennings Executive has over two decades of combined experience asking the right questions. We know how to help candidates assess risk so we can identify who’s serious about working for your company. Contact us today and minimize the uncertainties of hiring in today’s market.

Related: Quiet Hiring: What Is It, Where It Comes From, And How It Benefits Us All

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Brian Banister

EXECUTIVE RECRUITER

BRIAN BANISTER IS AN EXECUTIVE RECRUITER AT JENNINGS EXECUTIVE SEARCH.

BRIAN HAS A BROAD RANGE OF EXPERIENCE, HAVING WORKED IN STRATEGY & CORPORATE DEVELOPMENT, FINANCIAL PLANNING & ANALYSIS, AND PUBLIC ACCOUNTING ROLES FOR LEADING COMPANIES AND CLIENTS IN THE HOSPITALITY, REAL ESTATE, MANAGEMENT CONSULTING, AND TECHNOLOGY, MEDIA, AND TELECOM (TMT) SECTORS.

HE BEGAN HIS CAREER AT DELOITTE & TOUCHE, WORKING AS A LICENSED CPA. AFTER DELOITTE, BRIAN PIVOTED INTO CORPORATE FINANCE, WHERE HE HELD POSITIONS IN STRATEGY & CORPORATE DEVELOPMENT AT INTERCONTINENTAL HOTELS GROUP (IHG) AND COX COMMUNICATIONS, AS WELL AS AN FP&A ROLE AT BOSTON CONSULTING GROUP (BCG). THESE ROLES ALLOWED BRIAN TO GAIN VALUABLE EXPOSURE IN AREAS LIKE CLIENT SERVICES, STRATEGIC CONSULTING & PLANNING, FINANCIAL ANALYSIS, AND M&A AND INVESTMENT ACTIVITY. HIS BACKGROUND, COMBINED WITH A PASSION FOR BUILDING LONG-TERM, VALUABLE RELATIONSHIPS, HAS LED HIM TO PURSUE A CAREER AS AN EXECUTIVE RECRUITER.

BRIAN’S EDUCATION INCLUDES BOTH A MASTER OF ACCOUNTANCY DEGREE AND A BACHELOR OF BUSINESS ADMINISTRATION IN ACCOUNTING DEGREE FROM THE UNIVERSITY OF GEORGIA.

Lori Shad

EXECUTIVE RECRUITER

DRIVING TRANSFORMATION THROUGH PEOPLE IS OUR MISSION AND LORI’S PASSION AS AN EXECUTIVE RECRUITER WITH JENNINGS EXECUTIVE SEARCH. SHE CONDUCTS THOROUGH RESEARCH ON EACH ROLE AND BUILDS STRONG RELATIONSHIPS WITH CANDIDATES TO HELP CONNECT PROFESSIONALS WITH THEIR NEXT GREAT OPPORTUNITY.

LORI SPENT 22 YEARS AT A FORTUNE 500 INSURANCE COMPANY IN PRODUCT MANAGEMENT, SALES/BUSINESS CONSULTING, AND RECRUITING ROLES. SHE USES THIS EXPERIENCE AS SHE SEARCHES FOR THE BEST TALENT TO HELP DRIVE CLIENT SUCCESS FORWARD. SHE’S FOCUSED ON DELIVERING RESULTS AND GETS THERE THROUGH DISCIPLINED AND TENACIOUS HARD WORK WITH AN EMPATHETIC, COMPASSIONATE, FUN, GENUINE, AND POSITIVE APPROACH. SHE HAS BEEN INSTRUMENTAL IN HELPING CLIENTS ACHIEVE BUSINESS OBJECTIVES THROUGH UNDERSTANDING NEEDS, CREATING INDIVIDUAL, DATA-DRIVEN SOLUTIONS, AND SOLVING PROBLEMS, AS WELL AS POSITIVE RELATIONSHIP BUILDING AND TEAMWORK.

LORI GRADUATED WITH A BACHELOR OF SCIENCE DEGREE FROM THE UNIVERSITY OF GEORGIA.

Justin Graves

EXECUTIVE RECRUITER

JUSTIN GRAVES IS AN ACCOUNT MANAGER AT JENNINGS EXECUTIVE SEARCH.

JUSTIN HAS A VARIETY OF EXPERIENCE WORKING WITHIN PUBLIC AND INDUSTRY ACCOUNTING. HE BEGAN HIS CAREER WITH PATHSTONE FAMILY OFFICE PREPARING TAX RETURNS FOR HIGH NET WORTH INDIVIDUALS AND CORPORATIONS IN THE ATLANTA AREA. IN JANUARY 2015, HE JOINED COHNREZNICK, LLP, A TOP 10 PUBLIC ACCOUNTING FIRM, IN AUDIT & ASSURANCE WORKING PRIMARILY IN THE COMMERCIAL REAL ESTATE AND HOUSING MARKET. PRIOR TO JOINING JENNINGS EXECUTIVE SEARCH, JUSTIN WORKED AT FAST GROWING TECHNOLOGY COMPANY, SS&C TECHNOLOGIES, WHERE HE WORKED IN THE REAL ASSETS DEPARTMENT DOING FUND ADMINISTRATION. JUSTING BRINGS OVER 4 YEARS OF TAX AND INDUSTRY EXPERIENCE.

JUSTIN GRADUATED WITH A BACHELORS OF SCIENCE DEGREE IN ACCOUNTANCY FROM OGLETHORPE UNIVERSITY, MAY 2014, IN ATLANTA, GA.

Justin Jennings

EXECUTIVE RECRUITER

JUSTIN JENNINGS IS AN EXECUTIVE RECRUITER AT JENNINGS EXECUTIVE SEARCH. HE COMES FROM THE HEALTHCARE INDUSTRY WITH 15 YEARS OF MEDICAL SALES EXPERIENCE. HE ATTRIBUTES HIS SUCCESS IN SALES TO LISTENING AND LEARNING FROM HIS CUSTOMERS AND ENJOYS THE PROCESS OF SOLVING PROBLEMS. HE IS SKILLED AT DEVELOPING THE RIGHT ACTION PLAN FOR EACH OF HIS CLIENT’S UNIQUE NEEDS AND COMMITTED TO HELPING THEM CHOOSE THE BEST SOLUTION.

JUSTIN HAS TAKEN HIS SPIRIT AND PASSION FOR SELLING TO THE WORLD OF RECRUITING. HE HAS A GOAL OF SURPASSING HIS CLIENT’S EXPECTATIONS AND ASSISTING THEM WITH TALENT ACQUISITION.

JUSTIN GRADUATED WITH A BACHELOR OF SCIENCE IN MANAGEMENT FROM GEORGIA INSTITUTE OF TECHNOLOGY. WHEN NOT AT WORK, YOU CAN FIND HIM ON HIS MOUNTAIN BIKE, THE GOLF COURSE, OR SKIING OUT WEST IN THE WINTERS.

Chip Locke

PRACTICE LEAD, TECHNOLOGY RECRUITING

CHIP LOCKE IS THE TECHNOLOGY RECRUITING PRACTICE LEAD FOR JENNINGS EXECUTIVE SEARCH.

CHIP BRINGS 15 YEARS’ EXPERIENCE IN TECHNOLOGY AND TECH RECRUITING INCLUDING HANDS-ON WORK AS A SOFTWARE DEVELOPER AND BIG 4 SYSTEMS CONSULTANT. HE IS A TRUSTED CIO ADVISOR WITH EXPERIENCE ACROSS INDUSTRY VERTICALS AND A DEEP UNDERSTANDING OF TECHNOLOGY PLATFORMS AND THE FUNCTIONAL AREAS OF DELIVERY THAT ENABLE BUSINESS OPERATIONS. HIS EXPERIENCE INCLUDES RECRUITING EXECUTIVES AND COLLABORATING WITH THEM FOR THE STRATEGIC PLANNING AND IMPLEMENTATION OF IT ORGANIZATIONS. CHIP TAKES HIS ROLE AS SEARCH PARTNER SERIOUSLY, AND AS A TRUE PARTNER, HOLDS HIMSELF AND HIS TEAMS ULTIMATELY ACCOUNTABLE FOR DELIVERING ON CLIENTS’ HIRING GOALS.

HIS CLIENT SUCCESS STORIES CAN BE FOUND AT COMPANIES RANGING IN SIZE FROM STARTUP TO FORTUNE 500 ACROSS AVIATION, ENERGY, FINANCE, HEALTHCARE, HIGH-TECH, MANUFACTURING, RETAIL AND TELECOMMUNICATIONS.

CHIP GRADUATED FROM THE UNIVERSITY OF GEORGIA WITH A BACHELOR OF BUSINESS ADMINISTRATION DEGREE IN MANAGEMENT INFORMATION SYSTEMS.

Brian Gelfand

PARTNER

BRIAN GELFAND IS A PARTNER AT JENNINGS EXECUTIVE SEARCH.

HE BEGAN HIS CAREER AT DELOITTE & TOUCHE IN AUDIT AND ENTERPRISE RISK SERVICES, WITH A FOCUS ON THE FINANCIAL SERVICES AND REAL ESTATE INDUSTRIES. AT DELOITTE, BRIAN GAINED VALUABLE CORPORATE EXPERIENCE WORKING WITH A MULTI-BILLION DOLLAR PUBLIC MORTGAGE SERVICING CORPORATION, AND A NOT-FOR-PROFIT FOUNDATION WITH OVER $10 BILLION IN ASSETS. BRIAN HAS PASSED ALL FOUR SECTIONS OF THE CPA EXAM ON HIS FIRST ATTEMPT.

BRIAN’S EDUCATION INCLUDES A MASTER OF ACCOUNTANCY FROM KENNESAW STATE UNIVERSITY AND A BACHELOR OF BUSINESS ADMINISTRATION IN ACCOUNTING FROM GEORGIA COLLEGE & STATE UNIVERSITY.

Jon Jennings

FOUNDER / MANAGING PARTNER

JON JENNINGS IS THE FOUNDER AND MANAGING PARTNER OF JENNINGS EXECUTIVE SEARCH. ESTABLISHED IN 2014, HIS VISION WAS TO SHAPE A FIRM ANCHORED IN TRANSPARENCY AND VALUE CREATION. OVER THE YEARS, JON HAS HAD THE DISTINCT OPPORTUNITY TO ENGAGE WITH AND LEARN FROM LEADING INDUSTRY EXECUTIVES, GLEANING INSIGHTS FROM THEIR EXPERIENCES AND COMBINING THIS KNOWLEDGE WITH THOROUGH RESEARCH. THIS HAS EQUIPPED HIM TO OFFER A DEEPER, MORE STRATEGIC PERSPECTIVE ON ORGANIZATIONAL DESIGN AND TALENT IDENTIFICATION.

FROM INITIALLY SPECIALIZING IN FINANCE, JON DOVE INTO PRICING AND EVENTUALLY INTO MORE BROAD COMMERCIAL STRATEGY. BY 2017, HE RECOGNIZED THAT EFFECTIVE PRICING STRATEGY HARMONIOUSLY MERGES FINANCE, PRODUCT, MARKETING, AND SALES. HE DISCERNED THAT PRICING, WITH ITS INTRICATE MIX OF ART AND SCIENCE, HAS THE TRANSFORMATIVE POWER TO IMPACT NOT ONLY PROFITS BUT ALSO MARKET DYNAMICS AND AN ORGANIZATION’S OVERALL IDENTITY. TODAY, JON, TOGETHER WITH HIS EXPERIENCED TEAM OF EX-CONSULTANTS, COLLABORATES WITH PREMIER CONSULTING FIRMS TO ENHANCE THEIR PRACTICES. SIMULTANEOUSLY, HE ASSISTS PRIVATE EQUITY GROUPS AND THEIR PORTFOLIO COMPANIES IN REFINING AND FORTIFYING THEIR COMMERCIAL AND FINANCIAL STRATEGIC OPERATIONS.

THE CULMINATION OF THESE EFFORTS IS A BOUTIQUE FIRM THAT INC.COM CELEBRATED AS ONE OF THE COUNTRY’S FASTEST-GROWING COMPANIES. BETWEEN 2019 AND 2022, THE COMPANY WITNESSED A STAGGERING GROWTH RATE OF NEARLY 600%.