When the going gets tough...act like a king!

Came across this quote recently in the Auto News section: "It's tough going right now. This is where the good companies duck down and try to get through it and the great companies restructure, work on product development and position themselves for growth." (Ian Walsh, Vice President and General Manager of Lycoming Engines)

I'm reminded of my Talent Management class when we discussed how good companies retain talent during trying economic times, but great companies recruit to gain talent during tough economic times. Essentially, a company ahead of the curve will take advantage of the labor pool surplus that exists in a downturn like the current one.

Unfortunately, as I interact with dozens of HR reps from as many companies, I hesitate to say--but I must--that I don't see too many 'great' recruiting strategies.

Yes, because there are so many applicants, employers can be choosy...and I mean down to the specialty, down to the years of experience, down to the sliver of compensation--and they can get it! But is that really smart recruiting? This is the time to be investing in employees with a high future potential. Especially because they're 'on sale today!'

One of my fellow students put it this way, “If you want to be a king, act like a king.” I, for one, want to work for a king.