Right now, we’re stuck in a pretty turbulent economy. Millions of people have lost their jobs or been forced to leave them because of the coronavirus pandemic, and the whole world feels a bit upside down. Because of all that, it might feel crazy to take the leap of hiring someone new right now. But in reality, this uncertain period mid-pandemic is the perfect time to bring a new employee onboard if you have the means.
This is particularly true if your firm’s practice area is slammed (I’m looking at you, bankruptcy attorneys), and you could use the extra help. I’d suggest three reasons why hiring someone sooner rather than later, even if it feels like a strange time to do so.
1. The candidate pool is larger than ever.
This is pretty obvious if you do the math. In February, before the coronavirus pandemic really hit the U.S., the national unemployment rate was 3.5%. By June, it was 11.1%, and the second wave of the virus was just beginning. A higher unemployment rate means more people looking for work to potentially answer your job advertisement.
2. Higher-quality people are up for grabs.
Typically, when you’re hiring, unless you have a lot of money to offer, your candidates are fresh out of law school, newly unemployed, or disgruntled with the firm where they currently work. None of these things are disqualifying, but I’m sure you’ve sat across from plenty of people like this and wondered, “Is it possible this person doesn’t have a job right now because they weren’t very good at their last one?”
I’ve asked myself the same thing in interviews more than once. It’s just human nature. But right now, odds are that most of the people in the job market weren’t let go for incompetence or poor performance. They were let go because COVID-19 hit and the budget was tight. This means more experienced high achievers are out there at this moment than you’d find in a better economy. As a bonus, now that remote work is the new normal, you could even expand your search further afield.
3. You might snag a great fit with a low offer.
We’re in what you might call a buyer’s job market. The demand for work is higher than the demand for employees right now, and that can work to your advantage. If you’ve hesitated to post a job advertisement because you’re worried you can’t offer the going salary, this is the perfect opportunity to go for it. You could wind up snagging a fantastic hire simply because the market is so tight and they can’t find a better offer elsewhere.
Some of these explanations might sound a bit insensitive, but honestly, hiring someone during a pandemic is a win-win. You win because you get an excellent candidate, potentially at a lower price, and they win because they get the peace of mind that comes with a steady paycheck in these difficult times.
So, get that ball rolling! Hire that paralegal, legal assistant, or receptionist you’ve been dreaming about! Free yourself up to take on the cases you enjoy most, and get the help you need so you can sleep better at night. It’s okay to be opportunistic right now. In fact, it’s the smart thing to do.
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