Successful businesses all have one thing in common: competent individuals with the right skills and attitude. With the best people in your team, it’s easy to achieve goals, exceed every expectation, and continue thriving even in the toughest of times.
This is why many companies pour a lot of resources into recruitment. However, there are times when even the best efforts seem to yield less-than-ideal results. Perhaps the new hires leave too soon or their performance is a little lackluster. These factors and more can slow down business growth and even result in losses.
If you’re experiencing these issues, it’s possible that there are some gaps that you need to fill. Meanwhile, if you feel like you already have a robust recruitment process, then perhaps you can find something on the list that can boost your efforts. That said, here are some things that you might want to consider adding to your own recruiting programs:
Hiring the right people depends on a lot of qualitative information. Will the candidate be a good fit or addition to your company culture? What kind of personality does this applicant have? How does this person deal with stress? These things are difficult to measure, which is why recruiters need to have good intuition and a “sense for people.”
Still, there are various aspects of recruitment that can be improved by quantitative information. As an example, this website can show you how data such as agent performance, market performance, and market trends can help brokerages hire the best real estate professionals.
Coupled with an efficient piece of recruiting software, companies can also leverage data to ensure that job ads are reaching the right people. Recruiters or HR personnel can also set KPIs for recruitment programs to measure effectiveness. Doing this prevents any guesswork when you make adjustments or even scrap a strategy outright.
The key here is to know which kinds of data are the most valuable to your recruitment efforts. Then, find the best sources for those data and the tools you need to analyze them.
A Talent Pipeline
Sometimes, recruiters and HR managers have to scramble to find a replacement for an employee who left all of a sudden. This can result in bad hires, whether it’s a mismatch in skills or perhaps an inability to get along well with other employees.
This situation can be avoided if there’s a talent pipeline in place. Simply put, this is a list of candidates you have your eyes on who are qualified for future roles (or those who were qualified but didn’t make the cut). This way, you can immediately get in touch with candidates when roles open up. You then have more time to evaluate them, ensuring that your hires are as good a match as possible.
If you don’t have a talent pipeline yet, the best way to start building one is to identify which roles need one. These are usually those hard-to-fill jobs due to stricter requirements or those that experience a high turnover. Then, take note of past candidates or even former employees who may be good for these roles. You should also scout passive candidates; with the right incentive, they may be convinced to join your company. Last but certainly not least, be prepared to reach out to these candidates. Stay in touch so you’re always top of mind.
An Internal Recruitment Plan
One of the biggest mistakes that a recruiter or HR department can make when it comes to hiring is always looking outside first. This might lead you to miss out on already-qualified candidates who are already part of your company. Thus, it’s a good idea to create an internal recruitment plan for both lateral and vertical movement. Make it a point to conduct regular appraisals to see which person is a good match for bigger roles.
The advantage of promoting your own people or reassigning them to other positions where their skills could be maximized is that you don’t have to worry about culture fit. They’ve already proven that they’re productive, not to mention that they work well with their colleagues. On your end, you don’t have to spend so much on recruitment programs, training, and onboarding. In short, it’s a win-win situation.
More than diversity (which can sometimes be performative), companies should also strive for inclusivity. In simple terms, inclusivity means valuing the differences of a diverse workforce and the contributions that each individual can make. It means appreciating and supporting everyone, giving every voice a platform to be heard.
Inclusivity helps ensure that your employees feel that they can be their true selves and that their unique contributions are valued. This contributes to greater productivity and increased job satisfaction, which means less turnover.
A Good Retention Program
Speaking of turnover, investing in recruitment but not in retention is not a good move. Remember that it costs a company more to recruit new employees than retain them. Not only will you spend more time and money, you’ll also lose out on productivity while you wait for a new person to be hired and trained.
Aside from a competitive compensation package, a great retention program also includes ongoing training or mentorship and a recognition scheme. You should also invest in the holistic well-being of your people. Remember: a healthy employee is a happy, productive, and loyal employee.
Recruitment is definitely a challenging part of running a business, but it can be considerably easier if you apply the best practices. Keep this list in mind so you can fine-tune your recruiting programs and hire the cream of the crop.