As interest rates rise and markets retract from a post-COVID boom, a degree of uncertainty has led to a number of high-profile layoffs in recent weeks. Some of the biggest companies reach as much as 18% of full-time employees being asked to leave, indicating how tough the financial situation of many business owners is getting. The market might be an unstable and scary place for many right now but as recruiters, we’re seeing opportunities. Even if it’s harder to place candidates during a downturn, there’s no denying that with so many people being laid off from work, we have a lot of talent to choose from for the right clients. As long as you know where exactly to look for candidates, layoff period presents amazing opportunities for recruiters!
To help you out, we put together a bulletproof list of layoff resources for recruiters.
What are layoff lists?
It’s simple – layoff lists are basically free banks of talented candidates that you can pick and choose from. It’s (almost!) like having talent pools outside of your CRM. But paying attention to layoffs is not just about searching for recently unemployment candidates. With the market instability, a lot of the people still working at companies that have let some of the others go are nervous and willing to talk to recruiters.
To help you navigate this time, we put together a master list of sources to find fresh talent during the layoff period:
This website is a fantastic tool for tracking layoffs in all industries. The best part? It updates automatically on a regular basis, so you’re not risking contacting candidates that are long gone. It shows you which companies are letting candidates go, their location, number of employees laid off, and often provides links to direct employee lists with their position, experience, and contact details. It’s a real feast for recruiters!
Many incredibly talented people have been affected by the layoffs at Gorillas. Their list is not only regularly updated, so there’s no danger of contacting candidates who are already settling in new roles, but it also includes new positions they’re seeking, years of experience, and LinkedIn profile links! It will allow you to choose candidates who already know what they want, so there’s no need to try to sway them, making your job a lot easier.
German company, Kontist, which provides financial services for freelancers, also had to let some of their top talent go in the recent weeks. Their layoff list consists of over 40 candidates, their personal emails and LinkedIn profiles, preferred type of work, location, and experience. Even though it’s not as long as some of the other lists we found, you can find some real gems here!
Klarna has recently laid off over 700 employees, which stands for around 10% of their current workforce, leaving a huge number of candidates in need of new employment. Their list doesn’t include as many details as the other ones but you will still find the most basic information needed to categorise the candidates. Their role at Klarna, preferred work mode, and their LinkedIn profile – which will tell you all you need to know and more!
Pollen is a UK-based company dealing with exclusive getaways and travel experiences including events, gigs, festivals, and more. As you can see, the massive layoffs didn’t go easy on any industry, forcing business owners from all backgrounds to let go of some of their talented employees. This list includes all of the basic information you need as a recruiter – contact details, links to LinkedIn profiles, position at Pollen, and personal notes about anything and everything the candidate might be looking for!
This United States-based health tech company let go over 450 employees this July. They didn't put together a standard layoff list, though - they went a step further. They created a Slack channel for all the former employees and recruiters, where they can connect and chat about possible new opportunities. Even though these candidates aren't swimming in the UK talent pool, in the age of remote working it still might be a fantastic resource for recruiters searching for top talent. This is a completely direct way of reaching them and seeing first-hand if they fit within your criteria!
Even though seeing so many major companies laying off large numbers of employees can be scary, it’s a huge opportunity for recruiters to update their talent pools and keep them buzzing. Knowing that summer can be a quieter time in the recruitment industry, it would be a waste not to take advantage of the situation and build up your candidate lists.
As a Senior Marketing Executive, Martha keeps all our written content on point, sharing the latest tips and updates from the recruitment industry.