What to do When There is a Hiring Pause?!

As companies face uncertain times, many are looking at their expenses carefully. In labor-intensive companies headcount is a major part of the cost equation. Even the companies that are doing well are slowing down their hiring process to “wait and see.”

While the ads continue to be posted for various jobs on job boards and company websites, those looking for work are puzzled by what the right move is. If they respond immediately their resume may be trashed because the company has a temporary hiring freeze. If they wait to respond then the open position may be pulled.

So, what is the right response?

The right response involves responding immediately after you see the job posting. More importantly, though, you must write a cover letter that explains why hiring you NOW will make the company’s pain less severe. To present your case you must tie your value proposition (revised to address the changing economy) to the company’s immediate pain.

How do you know what it is?

If you are in Sales, the obvious answer to this question is that you bring about sales revenues. If you understand the company’s customers and how they make the buying decisions and if you can present your company’s value proposition to the customer’s VITO (very important top officer) then you may be able to mobilize sales, exactly what one needs in this slowing economy.  Your cover letter to the hiring manager then must capture the hiring manager’s attention by making an argument that if you came on board, you’d not only hit the ground running, but will have a convincing message for the customer’s VITO so that you can book revenues.

The same logic applies if you are in product development. Most companies are structured such that product development is a cost center. Here if you know the company’s design cycle time and process you can make an argument that by your coming on board that you can drastically cut the cycle time and rework to get to market faster and save costs. A client was an ace in design verification. He studied a company’s chip design process and learned that each iteration (“spin cycle”) cost the company five months and $500K. Typically, they did three or so such cycles before a formal release. He presented that he could eliminate all rework and get a chip released with just one spin cycle because he had done it a number of times. Such a message can have a profound effect on hiring pauses if the target company is struggling with such issues.

It is not that difficult to descry opportunities in tough times and make an argument to counter conventional wisdom. If no one makes such an argument (almost no one else will!) then you are at the top of the hiring pile!

Tough economic times present their own opportunities for those who are willing to conquer them! It just takes a bit more effort to make your case!