Effective leaders are always "trolling for talent" and meeting and qualifying prospective new hires. Effective hiring managers keep a file of potential new hires they have met in the last year - just in case they have an opening.
Good and bad economies provide opportunities for leaders to be meeting with potential new hires. Even though the leader is not in a position to hire, meeting new potential candidates and "building a bench" is an on-going process.
Hiring managers should set aside time each month to meet with potential candidates and grow the bench. This will increase the new hire success rate when a position opens up.
Empowered hiring managers who are constantly looking for new talent will make more successful hires.