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An authentic, well-defined employer brand is essential to recruiting and retaining quality talent in any market, whether booming or receding. In a booming market, the competition for top talent is fierce and companies therefore must set themselves apart from the competition so they win out when making offers to candidates – and hold on to the great talent they already have. By contrast, the talent pool is bigger in a recession, so it’s crucial for your business to be proactive about nurturing and maintaining a great reputation as a place to work so you draw high-quality job seekers.
