Talent Acquisition – When your business is growing, it’s time to hire new employees. But how do you find and select the best candidates?
Successful talent acquisition depends on a candidate-focused process with accountable hiring managers and recruiters who function like a sales team. It also relies on clear communication and data literacy.
Table of Contents
Know What You Want
The sourcing process for different positions requires attention to detail and a focus on suitable talent pools. For example, a team for a technical role may be focused on signing up junior associates, while another is more concerned with finding C-suite talent. This is why checking the guide for talent acquisition and tracking the recruiting metrics that are most crucial for your org is essential.
A good metric for this is the applicant drop-off rate, which indicates how many candidates begin the recruitment process and ultimately decides not to continue the hiring journey. To avoid this, ensure your job ads, online bulletin boards, and social recruitment campaigns are targeted to attract the right talent pool.
It is also critical to carefully vet candidates. This includes conducting thorough reference checks and asking questions about work history that go beyond the standard “What were your strengths and weaknesses?” to have more behavioral-based inquiries like, “Tell me about a time you disagreed with your manager. How did you handle it?”. This will help you understand a candidate’s motivations and potential for success within your culture and organization.
Know Where to Look
It’s important to know where the right talent pools are located – especially when the need is urgent. This requires a comprehensive approach, with a dedicated team to reach the right people using the correct methods. Depending on the skill set needed, this may involve specialized job boards, networking events, and academic programs.
Another way to source talented candidates is by borrowing them from other organizations, referred by colleagues, or from freelancing channels. This strategy is helpful if the talent you need is scarce and difficult to attract or for situations that require a more flexible workforce.
The buying strategy involves actively targeting candidates with an attractive Employee Value Proposition (EVP) that offers them more than the competition: a permanent job, a higher salary, a better benefits package, etc. In this scenario, you’ll need a sound candidate tracking system such as the one offered, a small business ATS system designed to build and store brilliant talent pools in one central location. Then you can monitor recruitment performance with various metrics, such as time to hire and offer acceptance rates.
Know What You Can Offer
During the interview process, hiring managers often ask candidates what they can offer to the company. The question reveals whether the candidate understands the position and how their skills can help achieve goals.
When answering, choose examples highlighting your strengths in the role. For instance, if the job is for an IT professional, you might focus on your ability to adapt to changes and use problem-solving techniques. If the company has a lot of administrative duties, you might talk about your efficiency and ability to prioritize work.
New hires should receive clear and detailed expectations as soon as they start. This helps them feel comfortable and confident in their roles. Managers should formally introduce them to the team and encourage coworkers to help them get settled. They should also provide regular training and development opportunities.
Know What You Can’t
It takes a lot of time to sift through resumes, interview candidates, and find the perfect candidate. It can also be a costly mistake to hire the wrong person. A bad employee can cost your small business money, slow productivity, and damage morale.
In a job interview, ask the candidate how they would approach their job and how they would handle certain situations in the role. This will give you an idea of their problem-solving skills and whether or not they are a good fit for your company.
Another way to assess an applicant is to have them take a workplace assessment. A comprehensive evaluation, like the Overt Integrity Survey, can help you understand an applicant’s true personality and motivations by asking questions that reveal their honesty and values.
Once you have found the right employee, set them up for success. Provide training and a clear path of progression in their new role. Give them an early project, so they can quickly start making a difference at your company. New employees will feel more connected to their team and organization if they know they have an immediate contribution to make.
Know When to Offer
Once the list of candidates has been narrowed down and vetted, it is time to make an offer. The new hire paperwork should include expected work hours, salary, sign-on bonuses, and employee status. The new employee should be allowed anywhere from 24 hours to one business week to accept or decline the offer.
Companies must provide a compelling EVP to attract top talent, including salary and benefits, a positive corporate image, and a well-rounded culture that fits the candidate’s personality and skills.
Creating an effective hiring process takes time, but it can pay off in the long run with a higher chance of finding A-players that fit your company for years. With a more robust talent acquisition strategy, you can reduce turnover and boost productivity. And as a bonus, you can save money by not overpaying for less-than-ideal employees. After all, the right people can attract money; but money can never replace talent. The best talent can be an asset that helps your organization transform and grow.
