July 21 2020 - Recruiting talent is expensive but consider the cost of getting it wrong. According to the U.S. Department of Labor getting it wrong can cost you 30% of that employee's annual earnings. Tony Hsieh, Zappos CEO put the cost of poor hires to his company at $100 million.
Are you trying to recruit talent in a competitive industry? Tough isn't it? Read on to learn 5 pro tips for recruiting the best talent.
Recruiting Talent Strategically
You already know that recruiting talent in a competitive industry is tough. Being effective at recruiting in this environment isn't about a quick and easy solution. There's no silver bullet to successful recruitment.
The reason for this is that effective recruitment isn't just about attracting talent. It's about attracting them, selecting the right person, and most importantly keeping them.
1. Clear Job Requirements
Start with a clear definition of your job requirements. It's clear that when you know what you want to achieve you're more likely to get it. Surprising then that so little effort is put into a clear job definition and statement of candidate requirements.
Once you've done this, place these requirements in your recruitment advertising. Candidates can self-select using clear requirements and that will save you a lot of time and energy. You can stop spending time filtering out the obviously unsuitable candidates and put more energy into more productive aspects of the recruitment process.
2. Flexible Working
Be more flexible about work expectations. The best talent can afford to be choosy. More and more they are choosing flexible employers who recognize their desire to have a work-life balance.
Work from home opportunities, flexible hours, and different ways of being rewarded can attract more of the right people. It doesn't mean more expense, lower productivity, or poor business results. If anything, it can result in more engagement, attracting, and keeping the best talent.
3. Use Technology
As in other fields, recruiters need to use technology. Consider using an applicant tracking system, recruitment portals on your corporate website, and web marketing. Your best competitors are already doing this and you mustn't be left behind.
4. Use Employee Referral
Great people want to work with great people. Engage your best employees in a referral scheme. Your current employees can represent you to others in a way that no advertisement ever could.
Provide incentives to employees for successful long-term new hires.
5. Be A Great Place to Work
Getting that whole package of HR strategies right is a challenge but there's no substitute for it. Just having a great recruitment advertising campaign won't do it.
You have to design jobs well, reward and recognize talent, understand, and manage your organization's culture. You have to handle performance management effectively, offer learning and development, and consider career management too.
Put it all together and great employees will be beating a path to your door. Recruiting talent is a strategic activity. Get it right and it's a source of competitive advantage.
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