Today’s guest blogger is Phil Chappel of P. Chappel Associates in Basking Ridge, NJ. Established in 1996 and a member of NPAworldwide since 2003, P. Chappel Associates is a boutique search firm specializing in the software and electronics technology sector—recruitment and placement of engineering, design/development, management, marketing/sales, manufacturing, etc. professionals. Phil is currently serving on the NPAworldwide board of directors. Below, he shares his thoughts on how strong relationships can help you maintain recruitment revenue during an economic downturn.
Recruiters need external partners and a large, solid client base to maintain recruitment revenue in challenging job markets.
My intent was to talk about the importance of having external recruiting partners in a down job market, but it has been written about many times recently. Even though I will address that, I’ll also include the importance of having many clients and why it is imperative to have both of these in place during good markets so when downturns hit, you can leverage these relationships.
Whether you are an independent recruiter or in any size recruiting firm, if you have not been in the recruiting field for at least several years, you have not seen a market downturn. Even though the slowdown of 2023 will likely be a blip and certainly nothing like what we experienced 15 or so years ago when many firms went out of business, you still may have to tighten your belt. The good news is that there is still business out there and if you have been preparing for a time like this, you can make it through successfully. Read the rest of this entry »
