Here’s an important reality to remember – top talent will not always find you. Even if you’re a big name (Especially more so if you’re a big name), you’ll get all kinds of people applying to work with you when you have a vacancy, and the bottom line is that you must seek out the best people to fill the positions that you have open.
The problem though, is that many companies simply wait for talent to come to them. Simply advertising an open position and hoping that the right talent comes along does not guarantee that an organization will find the best people for the job.
And you’d be surprised at the number of companies that lose money on this every year. In 2017 alone, a survey carried out by CareerBuilder found that nearly three quarters (74%) of employers are affected by a bad hire. Furthermore, it found the average cost of losing a good hire is almost double that of one bad hire.
“So it becomes a no-brainer that actively seeking out qualified candidates is the best way to ensure that you find the talent that you need. In essence, recruitment is essential to the success of your business.”
So what is real recruitment all about?
It’s a process that involves actively seeking, finding, and attracting new employees. These new employees must meet one of these three needs of any company:
- Unexpected vacancies: Death, illness, accidents, and family emergencies can leave unexpected vacancies. Constant recruiting will help find qualified candidates quickly and prevent companies from hiring out of necessity.
- Anticipated vacancies: Changes due to trends and internal promotions allow employers to anticipate what positions will soon become available.
- Deliberate changes: Restructuring and organizational changes will alter jobs and company needs. Consistent recruitment allows companies to fill their needs quickly and easily.
Having a pool of potential employees therefore would be a good thing for any company. Keeping this pool fresh on a continuous basis as to fill any gaps that may occur unexpectedly would therefore be a good practice, as would be the practice of keeping abreast of the current challenges and trends that companies face.
The recent economic changes have created new trends and challenges for employee recruitment:
- Small and medium-sized companies are responsible for much of the hiring in recent years.
- More companies are focusing on retaining the talent that they recruit.
- Social media is becoming a standard method for recruiting new employees.
- Reaching the different age groups: Fewer people are retiring as Generation Y enters the job market.
- Differentiating between talent and experience: There are many “overqualified” candidates who should not be overlooked. Find the best fit for your company culture.
- Position changes: Recent innovations have changed the way many jobs are performed – and finding both experienced and talented employees who can fulfil these new roles can be difficult.
Sourcing candidates is finding the best candidates for a position. This is a bit more complicated than it seems, one reason being because there are two sources for recruitment: internal candidates and external candidates.
Since it is important to use every tool at your disposal in order to source the best candidates for your company, it may be complicated to look internally if there is a need for fresh perspective and yet at the same time experience in the role beforehand.
Nevertheless, here are some useful tips to remember about recruitment:
- Determine the skills and responsibilities of each position before sourcing.
- Do not assume that a person who does not list every skill set on a resume lacks them. Resumes are overviews, and do not always allow candidates to briefly list every skill set.
- Combine electronic searches, job boards, social networking, referrals, and direct contacts to find the best source candidates.
- Search all resumes, not just the most current ones.
- Speak to at least 10 candidates before conducting interviews.
The selection must fit the role – which should have been understood and prepared for earlier. A proper job description should have been prepared before the first level selection process where unsuitable resumes are eliminated, and this job description needs to be developed based on a job analysis.
In the coming weeks, I’ll explain more on this job description and how it needs to be developed.