In the span of a few short weeks the job market has turned upside down and the world is facing a global recession. These are trying times for anyone in the HR world.
I have been through these boom cycles many times before. It seems like every ten years or so we are faced with a big crisis but this one is unprecedented.
Back in the ‘great recession‘ of 2008-9 my job boards lost half their business. I laid off my small staff and went back to being solo. But I pledged to build them back up and did so by 2012 thanks to a recovering economy.
The worst part about this particular event is the uncertainty that is pervasive. Not knowing where the bottom lies is scary.
Much of hiring has been put on hold and hourly job seekers are beginning to overwhelm the unemployment systems. So what’s a job board (or any HR tech vendor) to do in times like this? I have a few thoughts.
Crisis like this will not be kind to new startups. If you are a new job board or other type of HR technology vendor, no employer is looking to buy your