Why sourcing is the best way to hire during a recession

Magda Cychowski

Hiring is notoriously difficult for early-stage startups and made even more difficult amidst the looming recession. However, as a result of an increase in layoffs, there’s more top talent in the market than ever before — and consequently, talent is more interested in keeping options warm amidst tenuous job security.

More active candidates = more opportunities to land a hire

Dover’s internal data shows that candidates are more engaged than ever before: The average interest rate for top roles hiring in tech — think product, engineering, and bizops — has doubled since the economy started to dip in June 2022. (Note: Dover measures interest rate as the % candidates who respond with interest to an initial email)

Our data also shows a 13% increase in inbound applications and response rates over the last 90 days, indicating that there are more candidates actively applying and considering their options instead of responding to passive outreach.

Why are interest rates up?

Layoffs have compounded financial uncertainty with job uncertainty for employees, and keeping options warm can help soften the landing if fears of future restructuring are a concern.

Additionally, many tech folks who got laid off from the tech giants earlier this year (Amazon, Meta, Twitter) are looking to transition into smaller companies where they feel like less of a number and more of an asset.

Hiring is particularly easy for these five roles

There are five role types that are seeing the largest increases in interest rate — if your team is looking to hire across these personas, the next few months will be high-yield in generating top-of-funnel.