Worried about losing your high performers in the downturn?

By GSR2R Admin | 7th November 2022

How do you protect yourself from this happening?

If you’re worried about losing your high performers in the looming downturn, read on.

After all we have only just stabilised our talent pool of recruiters since the pandemic struck. One of the shocking things that happened in the pandemic was long term, stable, high performers left their businesses, and no one saw that coming.

My clients reported losing up to 20% of their top talent in 2020/2021. It was painful to lose these key people and expensive to replace them in a candidate short market.

With 23 years recruiting recruiters what surprised me, as the market was so unpredictable, was why would recruiters leave a business they knew well, had established desks and were earning well? It didn’t make sense to anyone at the time.

At GSR2R we placed more £300k plus billers in 2021, and continue to do so, than we had in the last 5 years. So why were these top billers leaving?

Talking to these recruiters daily there was a common theme on why they would risk to move. They weren’t leaving due to pay, or the normal things that make you leave a job. It was more subtle than that.

With a looming downturn being spoken about (some say we are in it) it’s important you think how about you secure your top recruiters now, as recruiters are more fearless about moving in an unpredictable market, and beware there are companies that are trying to lure them away from you.

It would be wise to not be complacent about your retention of staff and make it a high priority.

So why have we seen so many recruiters leave and join new business in the last two years?

2 main reasons.

1. Lack of communication

2. Unvalued high performers are often left to get on with their role.

They know what they’re doing right so don’t need your attention so much. This thought process will lead to your recruiters leaving. All recruiters what to feel stable and always valued within their business. Whilst working hard, it’s the little things that keep them engaged. Like checking in to see how they are or giving them an hour off when things are tough, rather expected them to work another hour.

Communication is vital to retention.

I get weekly calls even now from recruiters about them noticing an increase in internal meetings and worried that it could be about them. Seems madness but that’s true. As soon as they feel there is something going on they don’t know about they worry about their part in the business.

In the 2008 recession, I saw recruiters work harder for less money and they were fine with this. However, when the free tea and coffee stopped, they presumed their company was in trouble (without asking anyone) and looked for a new role. It’s the smaller things that can make them leave that we don’t think about.

The reports in the recruitment market and certainly from my clients are positive. However, if you’re worried about losing your high performers in the looming downturn, here are some top tips.

What can you do now to secure your recruiters stay with you.

1. Communicate now about how you could be effective by a turnover/what the company strategy is

2. Be open about how you look to support people’s careers through this time

3. Give recruiters a voice and add a weekly catch up as a team to talk and be open about how everyone is doing

4. Keep the small things that show you value your recruiter’s that isn’t just about business and the pay cheque

5. When making business decisions, think about how this effects your teams and be mindful of their reactions

Whilst it’s important you make critical decisions to protect your business, please pause and think how your decisions and actions effect your team’s and high performers. Whilst they are agreeing with you, they could be calling rec2rec’s.

You’re hiring and retention of employees are your number one business decision to your greatest successes.

Speak to our team at GSR2R today to create a strategy where your high-performing recruiters choose to stay.