Recruiting and retaining talent — ah! There’s the rub. Let’s start with a few nuggets of advice:
- Companies that select new employees from the candidates who walk in the door or answer an ad are often missing out on the best candidates.
- Some candidates are already working and may not be looking for a new position — they are just testing the waters while finding out how much more they’d be worth in the open market.
Here are specific actions to help you improve the candidate pool:
- Invest time to develop relationships with university placement offices, recruiters and executive search firms.
- Encourage your staff to participate in industry associations and conferences where they’ll meet candidates for you to successfully woo.
- Regularly check online job boards for potential candidates and their resumes.
- Use professional association websites and magazines to advertise any openings.
- Look for potential employees on LinkedIn and in other social media outlets.
- Bring in your best prospects for a meeting before you actually need them.
Here are some more provocative thoughts:
- Hire a person who has done this exact job in this exact industry in this particular business climate for a company with a very similar culture. The idea behind this tip is that past behavior is the best predictor of future behavior. This strategy is supposed to enable you to hire winners. But, ask yourself: Why then is this person leaving their current company to join yours? Make sure your salary and benefits are competitive!
- Hire candidates who will hit the ground running in your company. The thinking here is that you can’t afford the time to train a possibly successful candidate. Here again, know that there is the other side: When you hire and then train someone in your way of doing things, they’re bound to see it your way.
- Always post positions internally first. This boosts morale and makes your current staff members feel that their talents, capabilities and accomplishments are appreciated.
- Give internal potential candidates an interview. It’s an opportunity to better know your own staffers. In turn, they’ll learn about your goals and needs. In the end, you may find that there is a good fit between your needs and theirs.
Let the world in on your secret: You’re a great employer. How? Build your reputation and your company brand so that the best prospects seek you out. Candidates will want to work for you because they respect your brand.
- Take a step back and consider: What are your employee practices for retention? Motivation? Accountability? Reward? Recognition? Flexibility in work-life balance? Promotion? Involvement?
- Get your own employees bragging that your company is a great place to work. Candidates will believe employees more than they will believe your literature.
Should you involve your employees in the hiring process? There are three reasons to do this:
- Your employees can recommend excellent candidates to your firm.
- They can assist you in reviewing the resumes and qualifications of potential candidates.
- They can help you interview people to assess their potential fit with your company.
If you don’t do this, you may be sabotaging yourself: people who participate in the selection process are committed to helping the new employee succeed.
Pay better than your competition. This is the last piece of the recruitment puzzle. You get what you pay for in the job market:
- Survey your local job market and take a hard look at the compensation offered by others in your industry.
- You want to pay better than average to attract and keep the best candidates.
- If you try to lowball it, employees will resent their pay scale, feel underappreciated and leave you for the first good job offer they snag.
- Employee replacement costs range from two to three times the person’s annual salary.
So remember: You get what you are willing to pay for in the job market. Keep that in mind and then add in the value of the benefits package.
- Keep them above industry standard.
- Add new benefits as you can afford them.
- Educate employees about the cost and value of benefits.
- Employees will appreciate how well you are looking out for their needs.
These ideas can help your organization succeed and grow as you create a workplace that meets your needs and those of your potential and current superior employees. Give us a call and we can help you with your recruitment efforts.