By Sally Desch, HRM Contracting and Consulting

With the dollar flying high and the energy industry being reignited there is a real sense that Australia’s economic recovery is on its way. Unemployment remains steady instead of rising and during August job advertisements increased for the first time in 16 months.

The ANZ survey released in August found there were 4.1 % more job advertisements in newspapers and on the internet (news.com.au September 2009).  Many companies have been cautious about growth or expansion during these uncertain times - however it would seem that we really are about to emerge from the recession.

Growth is anticipated in the Mining and Construction sectors along with Transportation and Utilities (traditionally areas where there has been significant skill shortage in recent years). Other areas of growth include graduate recruitment in Accounting, Property, Medical and Pharmaceutical.

Despite the signs of growth unemployment itself will continue to rise (at a much slower rate) in the coming months as it is commonly acknowledged to be a “lag” indicator one that will level out slightly later than other growth indicators.

In this climate it remains very much an employer’s market and therefore being primed and ready for increased business activity could now put many companies in a much stronger market position than their competitors. Taking advantage of the market at the beginning of the upturn could prove to be a very lucrative long term move.

With a large pool of potential candidates to choose from how do you go about getting the best? Recruitment experts Pfau and Kay (The Human Capital Edge) state that you should hire a “sure thing” when recruiting - that is someone who has done the same job, in the same industry from a similar business culture. This means you are more likely to recruit candidates that fit and that can also be more effective more quickly.

Another commonly overlooked option by many companies is the development and or promotion of internal candidates. Not only are you getting a candidate that understands your organisation they have already formed effective working relationships within the company.

In order to attract the best candidate, your company should not only be a great place to work it should be known as a great place to work. The best employees are likely to be in work and not actively looking - therefore your company will really need to have something to offer to attract top quality new recruits.

This reflects internally on the company as well who should be providing a good working environment that will see employees remaining loyal and happy in the workplace, resisting the urge to explore greener pastures helping you to retain the brightest stars in your organisation.

Firms hiring should also not limit themselves to taking the best of the applicants in that round of recruitment - if that person does not really have the skills, qualification or fit what you are looking for, then it is better not to hire at all than hire the wrong person. Temporary or interim cover will cost you less in the long term while you concentrate on finding the right person.

While economic recovery brings about renewed hope for our business futures - it also brings about opportunity to refresh our organisational approach to recruitment bringing long term sustainable improvements to company structure and operation.