The thumbnail version:
- Competitors are failing
- There are unemployed, talented people in the market
- You may need more staff as demand grows
- Plan ahead for finding the best staff
The Full version:
We don’t really know when the economy generally and the industry specifically may return to “normal” but when it does, your shop could be busy. There will likely be fewer competitors to deal with a pent-up demand.
And because some of your competitors will no longer be around, there will be qualified staff on the job market. One or more of them may be a great addition to your shop when things get busy again.
So, here’s the plan . . . You already know who your competitors are and you know who their good people are. (At least you should know). So assuming that you do, make sure you know the status of your competitors; check regularly. And if they lay off staff or go out of business, make sure you stay in touch with their now unemployed but talented people so that you have the inside track with them when things rev up again.
Just another post-COVID-19 planning tactic!