It’s official, this summer has been tough for recruiters. There’s been a sizable dip in the market and it’s been tough to match the right candidates with suitable roles. You’ve probably seen a drop in earnings, management might be a little stricter, and some may have even been laid off.

It’s easy to feel all doom and gloom about the situation, we understand it. As recruiters, we judge ourselves on our current performance because that’s what pays the bills. If you’re not making deals and your pipeline is drying up, it can be pretty demoralising.

Take it from us, you’re not alone… but it doesn’t mean all hope is lost. We’ve seen some scaremongering articles circulating LinkedIn asking if 2023 is the year recruitment dies. This couldn’t be further from the truth and these types of articles are clearly written by those with a short memory.

This isn’t the first storm the sector has had to weather and it certainly won’t be the last. We’ve been through worse. We’re here to tell you that there is light at the end of the tunnel. In the meantime, here’s a little guidance on how to cope with a slow market in recruitment.

Don’t forget that we’ve been through worse

A lot of recruiters reading this wouldn’t have been working in 2008. Those who were certainly won’t be panicking now. When the financial crisis hit, the market collapsed overnight as companies simply stopped hiring. Successful agencies were reduced to the bare bones and only the very best recruiters survived. Even if they managed to keep their job, those earning £100k saw their pay drop by 75% and struggled to afford a once comfortable lifestyle.

This lasted for two years. It would have been easy to give up, many did. Though by 2010 the market ballooned and many saw successes unlike anything they’d seen before.

When Covid-19 hit, only a matter of years ago, a huge proportion of the nation’s workforce were put on furlough. The world economy was in turmoil as lockdown after lockdown hit. Everyone remembers the difficulty of those years. Agencies went under, companies downsized, and everyone felt the pinch. Then, slowly but surely the markets opened up again. Businesses that hadn’t been seriously recruiting for years were suddenly looking to replace the workforce they had to let go. We were back to full swing once more.

It’s easy to look at this summer and feel downtrodden, but things will get better. As September hit, we began to see the market pick up slightly. Every down period will be followed by a high one. That’s just how recruitment is. Don’t forget that there is a light at the end of the tunnel.

Every new month is an opportunity

In recruitment, we work month-by-month. Our targets and billings are measured monthly to drill into us that every month can be a new start. By dusting off the disappointment of the month before and going into the start of the next with a renewed motivation and fresh outlook, you’ll find more goes your way.

Our job is one that’s heavily impacted by our mental state. If we’re feeling bad about performance, we won’t be successful. If we feel positive about the month ahead, deals will come easier than before. Take a moment, digest what’s happened and begin the month with a renewed purpose.

Keep working on your pipeline

So, you’ve spoken to hundreds of candidates and only a few of them are interested in taking the jump right now. It’s not great news but it doesn’t mean these candidates are lost forever. Ask questions about their future, understand where their intentions really lie, get under the hood of their motivations.

If a candidate is considering moving but doesn’t want to take the jump yet, all it takes is a rude manager or disappointing day for their mind to change. Do what you do best and get the pipeline in place so when they’re ready to move, you’re the first person they call.

Focus on your KPIs

When everything else is going against you, get the basics right. Your KPIs are there for a reason. It’s a tangible equation which determines that if you speak to enough people and approach the job in a specific way, there’s a good chance something will come from it. If you take your foot off the pedal during a tough month, you’re losing the opportunities you do have.

Additionally, if you’re working in an agency that’s considering downsizing due to the current market, they’ll look at the recruiters that aren’t hitting their KPIs. If you’re a seasoned recruiter who’s got a successful track record, your KPIs are unlikely to cause any issues. However, if you’re relatively new, unknown, or sitting in the middle of the herd, it’s important to hit your targets and keep your head down.

Remember that you’re not alone

It’s easy to turn your focus internally when things don’t go your way, but don’t beat yourself up too much. It’s the industry that’s struggling, not you personally. Even the most seasoned recruiters are struggling at the moment. As RULE Recruitment Founder and Director, James Vizor, said on LinkedIn recently:

“August can’t end soon enough. It’s been a hard month at RULE HQ. We had a good pipeline but for endless reasons, the ‘bounce of the ball’ did not go our way. We will finish 25% behind where we wanted to be. That’s recruitment. In fact, that’s life.

I have done this job long enough to know you can make up for a bad month pretty quickly. For those newer to the ‘game’. Don’t focus on the past, that’s out of your control. Put all your efforts into the things you can influence. Tomorrow is a new month. Treat it like a fresh start. Come in with a positive mindset and ensure you end the month having put things right.

We have seen a large influx of activity at the grad end of the market, and the senior market remains strong. Still plenty of work to be done.

Wish us luck. We go again…”

If you’re looking for a role in recruitment, we want to hear from you. Reach out to us for a confidential conversation or alternatively browse our job board to get a feel for the type of roles we currently have open.