Layoff Statistics: What HR Should Know to Recruit the Best Candidates

Layoffs can be a challenging and difficult time for both employers and employees. As the COVID-19 pandemic continues to impact businesses worldwide, layoffs have become more common. As an HR professional, it is essential to stay up-to-date with the latest layoff statistics to recruit the best candidates.

Read full also: Layoff Impact on Employees: How it Affects Recruitment and Retention of the Best Candidates

Current Layoff Statistics

According to a recent study by Challenger, Gray & Christmas, Inc., there have been over 2.8 million layoffs in the United States alone as of September 2021. This number is significantly higher than the same period in 2020, which had 1.6 million layoffs. The study also found that the industries most affected by layoffs were retail, healthcare, and manufacturing.

In addition, a survey conducted by LinkedIn found that 71% of companies have had to lay off employees due to the pandemic. This means that there are currently many highly skilled and experienced workers available for recruitment.

The Impact of Layoffs on Recruitment

Layoffs can have a significant impact on the recruitment process. On the one hand, it can be an opportunity to attract highly skilled candidates who have been laid off. On the other hand, it can also be challenging to attract top talent, as job seekers may be hesitant to join a company that has recently laid off employees.

In this regard, it is essential for HR professionals to be transparent about the company’s current situation and the steps being taken to ensure job security for employees. This can help build trust with potential candidates and attract top talent.

How Algobash Can Help with Recruitment

Algobash is a powerful recruitment tool that can help HR professionals find and recruit the best candidates. With its cutting-edge technology, Algobash can quickly analyze resumes and match them with job requirements, saving HR professionals time and effort.

In addition, Algobash also offers AI-powered interview scheduling, which can help streamline the interview process and ensure that candidates are scheduled for interviews promptly. This can help reduce the time-to-hire and ensure that top talent is not lost to other companies.

Read full also: Coping with Layoff: Tips for HR to Attract the Best Candidates

Conclusion

In conclusion, as an HR professional, it is essential to stay up-to-date with the latest layoff statistics to recruit the best candidates. Layoffs can have a significant impact on the recruitment process, and it is essential to be transparent about the company’s current situation to build trust with potential candidates.

Algobash can help HR professionals find and recruit top talent quickly and easily. With its cutting-edge technology and AI-powered interview scheduling, Algobash is the ideal tool for HR professionals looking to streamline their recruitment process.

Use Algobash today to ensure that your company attracts and recruits the best candidates.