Recruiting can go awry in many different ways. Poor recruiting can mean hiring the wrong candidate. Worse, it can mean not finding a pool of candidates at all.
Without having candidates to pick from you will continue to waste money on job boards, job fairs or other typical outlets which haven't worked for you in the past. And, by hiring the wrong employee, you will continue to lose money on attrition and lost productivity.
Either way, you're draining resources - and likely diminishing the workplace morale. So, how can you strengthen your recruiting strategy, and in turn improve your bottom line?
1. Admit you need to fix a problem
The first step is admitting - or discovering - that you have a problem. If you haven’t already, this is a good time to start implementing better tracking and monitoring of your recruiting process so that you can make more informed decisions about improvements in the long run.
Ask yourself some questions. If you don’t know the answers yet, start here:
- What is the average tenure of an employee at your organization?
- Which managers have the least amount of turnover, which have the highest?
- Can you pinpoint which channel has been the most and least successful for your recruiting efforts?
Without understanding some of these basic questions, it can be hard to fix a recruiting issue.
2. Build a pipeline
The most effective recruiting approach is to always be looking, and finding candidates. Having a backlog of candidates for high priority or high turnover roles can help balance attrition.
You don’t necessarily need to spring for job board listings or paid searches. You can network, connect with candidates on LinkedIn, or post free ads on Craigslist or Angie’s list. This backlog, or pipeline, is a proactive approach. Even if a spot isn’t currently open, you are planning, branding, and sourcing so that when you’re ready to onboard, you know which candidates to approach first.
3. Embrace employee referrals
Employee referrals are your company's best word-of-mouth marketing. Companies with a strong image are the most sought after for employment. If your current employees are boasting about you, it becomes easier to tap into their network. Those associated with your employees are already reading, hearing and seeing why working at your organization is desirable. This makes your job easier; it can increase the number and quality of your applicants you receive.
4. Hire those who don’t need a job
Top talent is hard to come by. One of the reasons is that the most talented employees aren’t on the job market. Those who don’t need a job are more particular when it comes to the interviewing process.
It’s difficult to take time off of work, or perhaps they don’t want to disappoint their loyal employers. With a mixture of skill and attention to detail, the employed applicants who do come for an interview will be more serious. They will ensure the job description and responsibilities are in line with their needs. This extra upfront research by the candidate can decrease attrition at your company.
5. Move quickly
Nothing is more frustrating than an interview process that drags on forever. Between phone calls, panel-based interview sessions and HR’s due diligence, it can take weeks or months before the hiring process is complete.
For the potential employee, it’s difficult to take time off for work (or stay without employment for prolonged periods of time). If time is of the essence, your slow hiring process can cost you solid candidates - especially if your competitors move faster.
6. Make a comprehensive benefits package
Barclays recently conducted a study showing that 6 out of 10 employees believe a comprehensive benefits package is essential to consider before accepting a job. Still, 85% of employees felt their benefits package failed to provide the support and flexibility required to meet current and future financial obligations.
This provides an opportunity for employers to fill a gap. A 2017 trend in HR is financial wellness programs. Employees value a company who cares about their stress and wellness - especially those related to money.
With the holiday’s coming up, financial stress is an especially timely conversation.