No Surprise Here: Study Finds That Companies That Hired Through The Downturn Are Now Doing Better

The companies that spent the last 18 months working to retain top talent and hire competitors’ best people are posting better financial results and are more optimistic about the future, according to a new study from Deloitte.

“These companies were on, and are on, the offense; they are not on defense,” Jeff Schwartz, global leader for Deloitte Consulting’s organization and change service line, said during a speech at the recent 14th annual Wharton Leadership Conference. “They are more committed to retaining their key employees and are building a stronger internal pipeline — which is probably one of the main measures by which you might [gauge] the effectiveness of leadership programs…. They were cherry-picking in the market because they knew that a recession was a really good time to increase their recruitment.”

HR leaders have been saying for ages that the recession is the best time to hire, because there are so many talented people out there available for work. Now there’s data to back it up.