A Silver Lining in the Downturn of the Alberta Economy

A Silver Lining in the Downturn of the Alberta Economy

31 August, 2015

I wouldn’t be the first, or the last, to write about the doom and gloom happening in the Alberta economy, and to a lesser extent the Canadian economy. But instead of doing that, I wanted to tell you about a silver lining that I have found in the downturn.

I have recruited in the accounting and finance space for 10 years, and on one of the most recent positions we recruited for, my client interviewed possibly the finest list of 7 candidates that I have ever seen for any position. The candidates identified all had the technical abilities to do the job, but my client can now make the decision of who is not just a good fit, but a great fit; who can not only ramp up quickly, but who can ramp up the fastest. It is, frankly, a great position for them to be in.

Now, granted, the client we were working with is a fantastic company. But with the downturn, great candidates are more open to considering opportunities (because they know their current jobs are possibly at risk).  And, they are more reasonable in their expectations because they know money isn’t everything. A great job, security, and great people trumps money most days of the week.

My clients also know that if they decide to hire in this economy, they have less competition to deal with. If fewer companies are hiring, then the candidates they are interviewing have fewer options; therefore, there is less chance that their number 1 candidate is going to take an offer from one of their competitors.

So, to the companies who have strong balance sheets and have cash available to improve not only their finance department, but also their operations, IT, engineering, and distribution, why not take advantage of the downturn and “upgrade” in a number of areas?

You will be glad that you did! And then you can get back to hoping the economy improves.


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