|
For most of you who might read this, the following is best classified as a BFO (blinding flash of the obvious): the poor economy is taking a toll on recruiting.
Tight money has caused expansion to be stalled in several of our Fortune 500 clients and we have been told to back off some assignments for indefinite periods on searches we had just begun.
But there is an interesting corollary effect as well. On active assignments, closing on the final candidate has been made tougher because of the lousy housing market where the selected candidate happens to live. The prospect of having to live with two mortgages is, well, ugly.
How to cope? Using one or a multiple of approaches will likely help:
- Allow more time for the search and find a candidate prepared to take the risk.
- Consider a temporary living allowance…or extending the one you have…up to six months.
- Provide a signing bonus.
- Consider a bridge loan for a fixed but renegotiable amount of time.
The housing market crunch is real and pervasive. Be sure to take it into account when you start your next search.
|
