For savvy staffing firms, a downturn in business should be regarded as an opportunity to win market share as your less stable competitors struggle or close their doors. Here are some things you can do to come out of a recession better than ever:

• Renegotiate contracts. There is never a better time to buy than at the bleakest point of a recession. A downturn can also be a great opportunity to renegotiate contracts or source alternative vendors.

• Let naturally high turnover do the work for you. The high employee turnover that staffing firms experience in their internal workforce acts as a break on growth during a positive economic environment, but can be an advantage during a downturn. Staffing firms are often able to put a hiring freeze in place in order to reduce their headcount, and let natural attrition reduce employee costs.

• Take on a bigger role with your clients. Reach out to your clients. Offer your services to help companies make tough decisions, such as career or counseling advice to laid off employees. Playing the role of advisor can help you build trust and extend your network.
• Think toward the future. Every action you take during a recession should place your business in a good position to benefit from the strong lift in business that will inevitably happen as the market starts to improve.